Protected NCB Dilemna

imported_Riz

I am renewing my car insurance next week.
I have 5 years NCB and have a query - if I have an accident will I lose all my NCB or will I just lose 1 year for each accident?

My renewal quote is £305 without protected NCB. The cheapest quote with protection is £407 - is it worth the extra £100?

Riz

dangermoose

I think you will lose 2 years NCB for 1 accident.
Protected NCB lets you make something like 2 claims in 3 years.
Although you don't lose your NCB strangely your premiums will still go up because you are considered a higher risk.

Protected NCB costs me less than 5 pounds extra so 100 seems a bit steep.
5 years NCB may not save you more than 100 pounds compared to 3 years anyway.

Your best bet is to shop around a bit more. Otherwise ask yourself if 100 pounds buys you enough peace of mind to be good value for money.

Good luck.

Gibblestick

Each insurer is different, many will simply cancel all no-claims bonus for the first claim. Almost all will increase the premium due to you having had a claim.
Try https://www.confused.com they search loads of compainies sites for you and show you all of their quotes so you can decide which you like.

Iona_Penny

bank the £100. If you have to claim you have the money to pay next years increased payment and if you do't you have your money stashed.

I personally think that is a huge % of the cost extra. I can't help but think this protected no claims is a bit of a con as they can put the overall premium up the next year anywy can't they? Am I too naive?

Mumstheword

£100 does seem a huge amount based on your renewal quote. I am usually a firm beleiver in PNCD, but there has to come a point where it is not economical.

jacquesmalone

elephant.co.uk policy has a handy chart on page 13 showing your no claims for each accident.
http://www.elephant.co.uk/Policy/ELE.pdf

Kitty_Kat

Hi import_Riz,
I got a good quote from Nationwide with my 4 years NCD protected. They saved me £40 and my excess is only £100. Why don't you try them?

ChopperPilot_2

Just bear in mind that even with protected NCB (NCD), if you have a claim your premium will still go up (just not as much as it would have if you'd lost your NCB as well!

p.s. Martin thanks to your link to Comfused.com I just saved over £200 on my motorbike insurance renewal. :money:

booogle

I found that admiral didn't charge much extra to protect the NCB whereas others like Nationwide charge quite a lot.

MarkyMarkD

Gibblestick wrote:

Each insurer is different, many will simply cancel all no-claims bonus for the first claim. Almost all will increase the premium due to you having had a claim.
Try https://www.confused.com they search loads of compainies sites for you and show you all of their quotes so you can decide which you like.

Gibblestick

Sorry, but that's rubbish. Every insurer I have ever seen a policy from reduces your NCD by 2 years when you make a claim. Nobody "simply cancels all no-claims bonus for the first claim" unless you have only either 1 or 2 years NCD in the first place.

NCD protection normally costs 15% of the premium, so 33% is well over-the-top and not, IMHO, good value at all. Or is the quote with protection from a different insurer from your renewal, and if so could you not ask your existing insurer for a cost with protection included?

Al_Mac

My NCD is £60 on a £350 policy.

Last time I claimed for my fault was 7 years ago, so might not have been worth it.

Mrs Mac has had a couple of knocks, one joint, one in a car park and no idea who, well worth it.