Insurance or pay?

hobo28

Was a total muppet this morning. Reversed straight into my mother in law's car. Damage estimate is £530.

My insurance excess is £200 and I've full no claims but not protected. My usual annual premium's are around £270ish.

What do you all think I should do? Pay the £530 and not go through insurance or do via insurance?

ArsenalFC

Ouch! Sorry to hear that, going through insurance means losing 2 years ncd.
If it cost less than £330 increase in premium over the next two yrs then it may be of some consideration however, 3yrs ncd means you cannot protect it as most insurer want 4ncd before u can protect it. It is worth getting the ncd protected in the future.

Might have to bite the bullet and pay the £530

zappahey

ArsenalFC wrote: »

... It is worth getting the ncd protected in the future.

I just ditched NCD protection on mine and it makes it almost £40 cheaper (down from £250), that goes a long way to any potential reduction in NCD in future years. It's worth doing the sums and working out what protection *really* costs. The difference in premium was around £100 with 2 fewer years of NCD.

scbk

£530 damage after you reversed into it?! Do you drive a tank?! Or are you getting a main dealer to fix it?

MORPH3US

scbk wrote: »

£530 damage after you reversed into it?! Do you drive a tank?! Or are you getting a main dealer to fix it?

Sounds about right...

Someone drove into g/fs car and wasn't much but its more work than you think...

Filling the dent, getting it spot on, all the matching paint up (its not as simple as get the same colour, cars fade...)

G/F said since she wasn't paying, she wanted a new door skin rather than filling (because filling would have afftected the value in future when selling) so he put a new door skin on and matched all the paint up perfectly...

Cost a similar amount to above but was only a smallish dent to look at.

M

ArsenalFC

zappahey wrote: »

I just ditched NCD protection on mine and it makes it almost £40 cheaper (down from £250), that goes a long way to any potential reduction in NCD in future years. It's worth doing the sums and working out what protection *really* costs. The difference in premium was around £100 with 2 fewer years of NCD.

It will cost most other people cost more than £100 over 2 yrs depending on their status, postcode etc. If you were to have 2 fault accident in 2 years then you'll be in real trouble. I written off my bmw last year and am glad I had ncb protection (fault claim), it meant I can get another bmw or similar insurance group car without having to worry about big increase in premium.

Its down to personal choice whether you want to protect the ncd. I for one will always protect mine as u never know when u need to claim.

vaio

ArsenalFC wrote: »

…….. I wrote off my bmw last year and am glad I had ncb protection (fault claim), it meant I can get another bmw or similar insurance group car without having to worry about big increase in premium……….

I think you’ll find that whilst protected NCB means you will only pay 40% of the premium (assuming 60% NCB) the actual premium will go up significantly because of your claim.

Also worth noting that you can’t always move protected NCB to a different insurance company

ArsenalFC

Yes premium will go up regardless that my ncd are protected. It will go up even more if you lose 2yrs ncd on top of a history of 1 fault claim. I didn't have problem carrying my protected ncd on to a different company.

hobo28

Well I went onto the insurance company's website and generated 2 quotes with the no claims taken off to compare roughly what I would be losing.

First year my insurance will rise by £100, the second year only £50ish. Of course I'm assuming everything else remains equal.

So thats £200+£100+£50 which makes £350, so I'm still £180 better off approximately. Plus I can get the scratches on my car done too which I probably wouldn't have bothered with if I were paying privately.

I've never bothered with NCB protection as it seems to cost a lot. This is the first time in over ten years I've claimed so I reckon over 10 years I've saved overall.

Just need to be more careful in future......