Is Protected NCD a con?

motorguy

fred246 wrote: »

You can't argue that the insurance industry makes a fortune out of protecting NCBs and then argue that everyone benefits from paying for protection. If everyone pays for protection who wins? The insurance industry or the customers?

The customer wins.

If they have a claim, their no claims has been protected and they save money come renewal time.

If they dont have a claim, then they have had piece of mind for a year, for a relatively small amount of money.

In both scenarios they get exactly what they paid for.

motorguy

I would say if i could guarantee that i wont have a claim for 20-30 years, then after that point i may well be better off, but who can guarantee that?

With the amount of dolts on the road even if you are the perfect driver like Fred246/990 professes to be, you cant guarantee a hit and run accident wont occur, or random vandalism, or an accident that although not your fault goes 50/50 due to no witnesses or something, or simply a momentary lapse in concentration.

I dont bother with any of the other add ons, but i personally think - like most people on here and like MSE itself - that protected no claims is worth considering.

I wouldnt be so narrow minded as to believe that if someone choses not to have it they are "wrong" mind you...

facade

fred246 wrote: »

So you have paid the insurance company extra premium every year for 45 years just to stop your premium increasing a bit after an accident. And you think that is sensible or clever? At least half the population would benefit from not protecting their no claims.

So you reckon the odds are 50:50 on whether £10 or so spent now would save £500 or more. Worth a gamble IMHO, odds of the event happening are 50:50 odds for the bet 50:1.


My house hasn't burned down in the last 30 years either, if I hadn't insured it I might have 3% of the value of the house as extra cash, or I could have ended up with a pile of rubble and a big bill to rebuild. So I now know I shouldn't have insured before, but I can't see the future....


At the end of the day, it is the individuals choice what they do with their money, sensible or clever don't figure into the decision, but reassurance does.

Joe_Horner

fred246 wrote: »

We seem to have opposing views here fred990. You must be confusing the people that think we are the same person.

Not confusing at all. Multi-ID trolls do it all the time as part of whatever weird game they get their kicks from. Seeing as they rarely actually believe anything they post themselves it's not difficult to also take up the opposite position at the same time!

Not that I'm suggesting that the two Freds are multi-ID trolls, but if they were then disagreeing with each other would be entirely normal and expected.

motorguy

Joe_Horner wrote: »

Not confusing at all. Multi-ID trolls do it all the time as part of whatever weird game they get their kicks from. Seeing as they rarely actually believe anything they post themselves it's not difficult to also take up the opposite position at the same time!

Not that I'm suggesting that the two Freds are multi-ID trolls, but if they were then disagreeing with each other would be entirely normal and expected.

Its down to whether or not they are two trolls or one trolls though.

Either way its trolling.

EDIT: its actually worse than trolling as they "advise" people to do / attempt things that could cost them money, just for their own kicks. I couldnt do that on another person. Any advice i give i believe in. Sometimes i am wrong, but to willfully mislead people and cost them money? Very sad thing to do.

fred246

I have saved a massive amount over the years by not paying to protect my no claims bonus. If I have an accident I might pay a bit more for a couple of years but I am willing to take that risk. I also request the biggest excess possible. The aim is not to claim. If someone bumps into me in a car park I will fix the damage. It's normally not a big deal. I save a fortune by doing my own DIY repairs and servicing. I never advise people to do jobs that they don't feel capable of doing.

motorguy

fred246 wrote: »

I have saved a massive amount over the years by not paying to protect my no claims bonus. If I have an accident I might pay a bit more for a couple of years but I am willing to take that risk. I also request the biggest excess possible. The aim is not to claim. If someone bumps into me in a car park I will fix the damage. It's normally not a big deal. I save a fortune by doing my own DIY repairs and servicing. I never advise people to do jobs that they don't feel capable of doing.

:eek:

Yes you do. You constantly bang that drum.

fred990

Has anyone come across a policy provider that does NCD protection for multiple vehicles?
Just like the legal cover you can get (bargain cover for four motors here) which would be great if we could do it with the NCD.
Cheers.

SHAFT

fred990 wrote: »

Has anyone come across a policy provider that does NCD protection for multiple vehicles?
Just like the legal cover you can get (bargain cover for four motors here) which would be great if we could do it with the NCD.
Cheers.

I have yes, but I won't say who with as it would be a waste of time as you disagree with protecting your no claims.

fred990

SHAFT wrote: »

I have yes, but I won't say who with as it would be a waste of time as you disagree with protecting your no claims.

Errr I think you might be confusing me with fred246. I can assure you we are not the same poster despite what the resident know-it-all likes to endlessly pontificate about.
I have a polar opposite view on this subject to fred246, maybe you didn't see my earlier posts?
No offence to you, it seems even basic syntax doesn't separate me!