NCB confusion

mattyfez

mattyfez

mattyfez

Soldato
Joined
12 Apr 2007
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HI all,

Insurance renewal time, came back at £650, which is mental for a mid 30's person with 8 yrs no claims.

Running through some comparison sites, quotes coming back between £375 - £410.

The question is, is it worth protecting my no claims (8 yrs) I'm not 100% sure on how it works, I know I loose a year or something if I claim, but id loose the lot without protection resulting in a big hike?
Or would just the fact I've claimed cause the hike more than the loss of NCB?

The policies with protection don't cost that much more considering I pay monthly, up from about £33PCM to about £37PCM.
 
its definitely worth it.

i didnt *lose* any years when i claimed on my protected ncb.

the only thing that happens is the renewal will go up a bit following a claim as you still have to declare it.
 
You don't loose them all for claiming, you loose 2 years for each claim.
Protecting you wont loose any for the first claim in a year but any after that are 2 years per claim.
 
What length of time would you say is a reasonable time to protect your NCB?

I have 6 years in January with a clean license and no claims to date (Where's that big lump of wood?).
 
Protect both our cars, but only seems to add around £25-30/policy.
Guess that's what happens with many years of no claims, and having left our 30s behind..... :(

Still, as others have said, normally a (fault/unrecoverable) claim that results against a policy will knock 2yrs off your NCB. Now, it gets confusing as different insurers have differing maximum NCB - some stop at 5, others go to 9 or even further. However, should you claim against a 9yr NCB, you may find that it 'reduces' the NCB below 7, as some insurers argue that the yrs above 5 are additional perks/loyalty/yadayada bonus yrs, and automatically count your NCB as only 'full' or 5yrs.....very confusing, and not particularly equitable.......
 
james_2k said:
sorry but.. lose..
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Sounds like you lost..

robj20 is correct, lose 2years non-protected and the 'protection' doesn't apply to as many claims as you can get in a year, though it varies between insurers.

Oh and the difference between 3 and 4 years no claims for me was.. £0. More important is the first one or two and how long ago you passed your test.
 
miniyazz said:
Sounds like you lost..

robj20 is correct, lose 2years non-protected and the 'protection' doesn't apply to as many claims as you can get in a year, though it varies between insurers.

Oh and the difference between 3 and 4 years no claims for me was.. £0. More important is the first one or two and how long ago you passed your test.
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I think he was judging my usage of loose instead of lose. Not like he doesn't know how to use capital letters or an apostrophe though. :rolleyes:

Anyway yes, i have found my NCB makes minimal difference to my premiums, going from 3 years to 0 added £20.
 
robj20 said:
I think he was judging my usage of loose instead of lose. Not like he doesn't know how to use capital letters or an apostrophe though. :rolleyes:

Anyway yes, i have found my NCB makes minimal difference to my premiums, going from 3 years to 0 added £20.
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Oh yeah.. sorry James :p

Protected NCB is just another way for insurance companies to make money from you.
 
I am 33 with 1 year no claims and I pay £636 this year so for you with 8 years that is way too much.

I am thinking of putting the NCB protection on my next policy as i will just have got 2 years then.
 
Skeeter said:
A couple of years back protecting my no claims took £2 off my renewal :p
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Lol statistics.

It wouldn't surprise me if protected no claims is a reason for no claims bonus being worth so little these days - having lots of no claims no longer implies you have fewer crashes.
 
EnderXi said:
I am 33 with 1 year no claims and I pay £636 this year so for you with 8 years that is way too much.

I am thinking of putting the NCB protection on my next policy as i will just have got 2 years then.
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Normally there is a minimum number of years that you must have obtained before you're able to protect your NCB. When I used to work at Toyota Insurance, the maximum bonus was 4 years and it was only then that you could start to protect it.

From what I have experienced with other companies that offer higher maximum year bonuses, you need at least 3 years to start protecting it. The protection, again going by what Toyota did, only lasts for 2 fault claims, if you have a 3rd then you will start to lose your NCB.

Hope this helps :)
 
james_2k said:
its definitely worth it.
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Rarely worth it if you already have a decent amount of NCD stacked up. Insurance companies make money from people buying add ons to their policies, they wouldn't offer it otherwise.

In the OP's case, he has already driven carefully enough to stack up 8 years of NCD. Should he be unfortunate enough to need to claim in the future, he will lose two years of that NCD which itself will make a negligible difference. The claim history will be a killer, and NCD protection doesn't help here. If you only had 2 or 3 years of NCD, then protection might be more useful.
 
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