Protected/No Protected No Claims......

sabelu

Whats the advice should we take out protected no claims what do you get for your money and if you change companies annually is there no real benefit?

jonesMUFCforever

Depends on your attitude to risk and reward.
Let's say you have an annual premium of £500 with a top up premium of £30 to pay for the protected no claims.
If you make no claim in the 12 month period in effect you have lost that £30.
However if you do claim then next years premium is likely to rise by around 30% to around £650. By having the Protected NCB you will save £120.
(I am assuming here that premiums have not risen due to other outside costs)

sabelu

But should you have a claim then change insurers you would not keep your NCD?

shelly

Since hubby has earned full NCB he has protected it. I had a claim on the policy as a named driver in May and believe it or not the price didn't go up at renewal. We changed co's and had no trouble at all getting the previous co to provide a letter to the new co stating that hubby still had full NCB.

Its beneficial to us to protect the NCB as when we became a 2 car household and got quotes for both cars we said that neither car had NCB on it (you can only use NCB on one policy usually) and both cars were quite expensive. If hubby hadn't protected the NCB and we lost it when I made the claim we wouldn't be able to keep the newest car as it's a group 19 or 20 (depending on which co you talk to) making it too expensive to insure. When we first had 2 cars Asda matched the NCB on both cars though but only for the first year.