Guaranteed Ncd - Worth It?

Ian_W

August 2003 I moved car insurers from More Th<n to Liverpool Vic/Frizzels with a 12yr NCD and took out their "Guaranteed" 75% NCD. Renewed for 2 yrs with no claims but in 05/06 had 2 accidents both classed as fault claims, although 1 was while parked and unattended, neither serious about £5-600 damage to my vehicle and no injuries or 3rd party costs. When renewal came in August 06 I wasn't surprised that even with my NCD intact the premiums were up from £300-£450. Fair enough - rated a higher risk!

No further claims this year but the premium requested is now a smidge <£600 - double what it was 2yrs ago. Phoned to haggle but there is no leeway, my policy is a legacy product which includes business use that I no longer need - but if I change [and lower the premium] I become a new customer and wouldn't even be able to protect the bonus.

Shop around on t'internet but can't get protected NCD for much less than LV premium. I can get good cover from Saga at half the price <£300 but no NCD protection.

So my dilemma is -
Do I remain a hostage to LV to guarantee my NCD even though my premiums have doubled as a result of 2 claims?
Or do I go with Saga at half the price and become a hostage to fortune re the NCD?

Thoughts or suggestions very welcome.

_Glycerine_

You will find that most companies will only cover protection on no claims for a maximum of 2 fault claims, unusally in the case of 2 in 3 years, or 2 in 5 years. Therefore they wont offer protection now as you have reached there limit.

You can get companies who will provide you with ncb protection, but you will have to go with a more specialised underwriter to get this, who generally are not as competitive.

You will probably find that companies that offer ncb protection will give prices similar to what you have now.

I personally would recommend going without it, but it all depends on your driving history. Are these 2 claims a blip on a great driving history; or are claims a common recurance for yourself. If you go without, you can save a bundle, but on the other hand, if you were to claim, it could cost you so much more on future policies for the next few years.

_Glycerine_

oh yeah, and watch yourself with saga, they entice you with low premiums and bump them up the year after. Fair enough, this is what most companies do, but what saga dont tell you is that they will only ever confirm 4ncb when leaving them as this is there maximum. Meaning you will then have less than max no claims in future with virtually all companies.

Ian_W

_Glycerine_ wrote: »

I personally would recommend going without it, but it all depends on your driving history. Are these 2 claims a blip on a great driving history; or are claims a common recurance for yourself. If you go without, you can save a bundle, but on the other hand, if you were to claim, it could cost you so much more on future policies for the next few years.

No claims for 14ys, 2 in same policy year [one when I was in Mr T's shopping!], a further year with no claims - I think that's a blip, but you can't legislate for the idiot in the other car! :rolleyes:
I am tempted to take a chance and go without NCD protection at the mo.

but what saga dont tell you is that they will only ever confirm 4ncb when leaving them as this is there maximum. Meaning you will then have less than max no claims in future with virtually all companies.

Hmmm. But presumably if you keep a copy of your previous insurers NCD record you can add that to Sagas if you leave for another company? Will other insurers accept that?