Is protecting your NCD a scam?

Penelopa.Pitstop

justworriedabit said:

Penelopa.Pitstop said:

Protecting my NCD costs £16 and £12 on my cars, it's individually listed on my policy.

which insurance co is that?

Admiral, renewal from 20/03.

gingerdad

If you have a fault accident your no claims looses two years - NCD protection is a racket and only usually applies if you stay with the same insurer, if you want to switch then your accident will be taken into account so your premium will rise whatever either by being stuck with the same company or by moving and loosing two years NCD.

For me we switch insurer every year, don't bother with protection and use a free legal cover if we ever need to claim

akira181

Ant555 said:

 A protected NCD is not transferrable between insurers but I think you already knew that.

I actually didn't know that.  Thanks for the tip, that changes things a little.  I don't think I've ever stayed with the same insurer as switching always gave me the best deal.  If the prices the comparison sites are giving me are accurate, then I don't think protecting a NCD is right for me.  Not until I get at least 5 years under my belt I guess.  Surprised people are getting NCD protection for less than £20 though.  The comparison sites have a £300 difference for me when searching with and without the protection. 

1st Central Insurance are the cheapest by a fair margin but they're not a company I have much faith in.  I know a couple people that had to wait excessively long for them to pay out when making an "at fault" claim on their own policy.  Took them hours on hold to get the claim lodged too.  If no better prices come up, I'll take a chance on them and hope next renewal with a 5 year NCD will bring more reasonable premiums.

Ant555

akira181 said:

Ant555 said:

 A protected NCD is not transferrable between insurers but I think you already knew that.

I actually didn't know that.  Thanks for the tip, that changes things a little.  

Sorry if I may have added confusion (ive just re-read my words)  - if you havent had an accident then your NCD whether protected or not, is transferrable. 

 If you HAVE had an accident then you do, of course, have to declare the claim/incident to a new insurer.
As discussed, any benefit of a protected NCD really only comes into play if you stick with an insurer at renewal.

dipsomaniac

Lol a insurance policy to protect you claiming against your insurance policy.

I have never purchased such a product on principle.

Aretnap

akira181 said:

Ant555 said:

 A protected NCD is not transferrable between insurers but I think you already knew that.

Surprised people are getting NCD protection for less than £20 though.  The comparison sites have a £300 difference for me when searching with and without the protection. 

Are they quotes from the same insurer though? Most insurers will only let you protect your NCD when you've got a certain number of years - 5 is the norm, but a few will allow 4. If you're trying to protect 4 years NCD then it may be that you're restricting yourself to a smaller number of insurers, who happen to be among the more expensive ones for your profile. That seems more likely to account for the difference in quotes than the cost of protecting your NCD itself - which I've rarely seen quoted at more than a couple of tens of pounds.

Bigphil1474

Gingerdad - Your protected NCD is transferable e.g. you protect your 9 years no claims discount, at the end of the policy you still have 9 years ncd even if you had a claim. Obviously, other insurers will take into account a claim on their quote, but so will your existing insurer. It's a  guaranteed discount off full price, where full price may be more because you've had a claim. It isn't fixed to your existing insurer. 

bikeman17

I protected my NCB for the first time after 10yrs with esure for £7!
No brainer.