Car Insurance "Protected No Claims" Help

earlofbarrett

I have always had protected no claims and never made a claim in 20 years of driving until this year. Does anyone know how the protected no claims works? i.e when I go to renew my car insurance in September I am going to get asked if I have made any claims in the last 5 years. Well I have so I have to say yes. So what is the benefit of protected no claims?

scope

It works something like this:

insurance + extra because of your claim - NCD bonus

If it wasnt protected you would get a smaller bonus..

Question is.. when you've got 20 years NCD, is it really worth paying extra for protecting it? I thought you only loose 2-3 years when you have an accident? And I dont think insurance companies care if you've got 5 or 20, 5 seems to be the maximum.. I might be wrong..

earlofbarrett

I meant in 20 years of having car insurance I have never made a claim.I think its 5 years protected NCD i actually have. So will I pay more because I made a claim?

lisyloo

Yes you will apy more because of the claim but if you stick with your existing insurer it still be less than if you didn't protect the NCB.

earlofbarrett

If I do have to pay more because of the claim, then the way I see it Protected no claims is not protecting my no claims dicount. It is only protecting part of it. So therefore when your insurer asks you if you wish to protect your no claims discount he or she should say would you like to protect part of your no claims discount.

lisyloo

Protected no claims is not protecting my no claims dicount.

Your discount is maintained.
It's just that your premium has gone up because of the claim.

So therefore when your insurer asks you if you wish to protect your no claims discount he or she should say would you like to protect part of your no claims discount.

Not exactly.
They should say "Your NCD wil be maintained but if you have claims then your base premium may rise".
Not quite the same.

The cynical might see this as a deliberate ply to confuse and I have some sympathy with that view.

As always - it's a case of "buyer beware".
Make sure you know what you are getting before you purchase.
Stick around this site and you'll learn a lot.