Protected No Claims, is it worth it?

Kitty_Kat

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Hello,

My car insurance is up at the beginning of September. I will have 4 years no claims and don't know whether to pay the extra money to protect my 4 years. Can anyone help me? Is it worth it? How does it work?

Thanks

tim_n

Well, if you're like me and a few days later someone runs over the top of your car, protected no claims is a godsend.

My deal is thus: I pay about £40 more on my insurance. They guarentee that I will not loose my no claims, but should I make a claim my no claims is frozen that year. ie I have 4 years at the start, I have an accident, at the renewal I still only have 4 years no claims.

You can only have a certain number of claims (2 in three years) before even the protection doesn't help. This may be different with other insurers - more than say 'protected for life' but I am unsure whether this is similar.

Ring your insurers and check :- )

Kitty_Kat

Thanks tim_n for your advice. If it is only £40 to £50 more then I think its worth having.

Rikki

I have always protected my no claims bonus. I never get a quoye without it so I don't know how much extra it is costing me. There would be no way I could afford to insure my car without any no claims.

lush_walrus

Protect it, it would be sods law the second you don't you end up in a situation that you loose it. Its worth the money to protect.

derrick

Point is about protected NCB is that you will pay for it some way, 1st the premium to protect, then if you have an accident they will load your premium in some way the following year under some pretext, and you will not be able to move that protected bonus to another company, so if you have an accident,and your renewal is excessively high and you compare prices you will be penalised by another company for the accident by a premium on the policy, so unless you can guarantee to stay with the company offering the protected NCB you will be paying more anyway no matter who you get insured with.
My advice, for what its worth, don,t bother with the protected NCB and drive with care, then hopefully any accidents will not be your fault, although that would not include vandalism. Also don't forget your excess that will be payable regardless.

tinalives

Ooh, are you sure it works like that Derrick?

We've got 5 years no claims and wouldn't entertain not protecting them.


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derrick

tinalives wrote:

Ooh, are you sure it works like that Derrick?

We've got 5 years no claims and wouldn't entertain not protecting them.


.

Yes I am sure, if you want to take protected NCB to another insurer and you have had an accident in the previous Xyears that bonus will not be protected, you will only get what the new insurer is prepared to give you, protected bonuses are not transferable

I have got 10 years NCB and would not pay the extra to protect it as I usuallly change insurers yearly, there is nothing to be gained for loyalty, these companies are out for your money,my insurance goes up yearly even though I haven't claimed and I always find a lower quote elswhere, I have been requested to take out NCB protection and aleays declined, but I think £40. is excessive compared to prices I have been quoted

tinalives

derrick wrote:

protected bonuses are not transferable

Ahh, I thought they were.

derrick

tinalives wrote:

Ahh, I thought they were.

Just edited my post

Hunnymonster

Regardless - there are too many clowns out there driving without insurance - protecting against that antisocial element is reason enough for me to protect my NCB....