To protect or not to protect with prior accident

Jaffa393

So, I had an accident in November 2010, i decided to stay with my current provider to protect my no claims (for a higher price)and have since built up 1 years no claims.

I'm up for renewal and am not sure if I should stay with my current insurer to protect my 'no claims' again or if I would be better to start again with a new (cheaper!) provider....though I can't protect my no claims!

What have you all found to be the best thing to do?!!!

neilmcl

:eek:

Jaffa393 wrote: »

So, I had an accident in November 2010, i decided to stay with my current provider to protect my no claims (for a higher price)and have since built up 1 years no claims.

I'm up for renewal and am not sure if I should stay with my current insurer to protect my 'no claims' again or if I would be better to start again with a new (cheaper!) provider....though I can't protect my no claims!

What have you all found to be the best thing to do?!!!

Why would staying with your current insurer at renewal "protect" your no claims? How much NCD do you actually have?

iolanthe07

OP, you do understand that you can move your no claims bonus to a new insurance company, don't you?

mikey72

I never protect my ncd. I ran a few dummy quotes, with and without protection and accidents, and found the protection cost was greater than the cost of the loss of the ncd. And, as you have found, it then ties you to an insurer who will artificially inflate your premium even further at renewal. An insurer wouldn't sell you insurance for your ncd if they didn't make a profit by doing so.