NCB protection

wijcc

wijcc

wijcc

Soldato
Joined
10 Aug 2003
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Location
London
If you have 10 years plus NCB is worth taking out NCB protection, as many insurers don't recognise more than 9 years. I have 12 years, is it worth taking NCB protection?
Thanks in advance
 
no it reduces by two years.. so 12 years ncb would be reduced to 10 years if you made 1 claim for example
 
wijcc said:
no it reduces by two years.. so 12 years ncb would be reduced to 10 years if you made 1 claim for example
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Double check with your insurer. I doubt this is the case. You may find it drops down to something like 3 or 4.

edit:

For example, Admiral count it up to 15 years but 5+ goes down to 3.

https://www.admiral.com/magazine/guides/car-insurance/how-the-no-claims-bonus-works

What happens if I make a claim?
It depends what the claim is for; payments for windscreen damage or emergency treatment fees won't affect it. Likewise, if the accident was the other person's fault and we recover all the money from their insurers, you won't lose your No Claims Bonus.

Even if you do have to claim for an accident that was your fault, you could still keep some of your NCB. If you make one claim during your insurance period, you'll lose two years of the Bonus.

So, if you have five or more years No Claims Bonus, it will reduce to three years at renewal.

You'd still get a discount off your premium, and it wouldn't take so long to build it back up.

If you make two claims during the period you're insured for, you'd lose four years No Claims Bonus, and if you made three or more claims during the period you're insured for, you'd lose them all.
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Almost everywhere caps no claims at 9 years which is pretty lame. For me though it's barely makes a difference to the cost, so I have it.

Admiral like to do funny things with their insurance, like have 10 month years to "boost" no claims. But other insurers will simply re-calculate to back to 12 month years and you might be a year short when you switch. So don't trust everything Admiral do :p
 
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wijcc said:
no it reduces by two years.. so 12 years ncb would be reduced to 10 years if you made 1 claim for example
Click to expand...

Depends on your insurer, I have a guaranteed no claims bonus protection, which means even if I have a claim my no claims is never reduced.
 
I've never understood the point in protecting no claims. I guess this is a good time to find out if I'm doing it wrong.

If you have say 9 years no claims, and you have a fault crash, claim on your insurance. Come renewal time you have to declare that, and now have (for arguments sake lets say) 2 years no claims, and a fault claim. If you had protected no claims, and paid for the privilege, would your premium actually be any cheaper with the claim + 9 years NCD over 2 years NCD and the saving of not protecting your NCD for the last say 2 years?

Having had 2 non fault claims load my premiums I can't see the increase being offset by the NCD.

I guess if I really wanted to find out I should throw some test details into a comparison site.
 
Munchies said:
I've never understood the point in protecting no claims. I guess this is a good time to find out if I'm doing it wrong.

If you have say 9 years no claims, and you have a fault crash, claim on your insurance. Come renewal time you have to declare that, and now have (for arguments sake lets say) 2 years no claims, and a fault claim. If you had protected no claims, and paid for the privilege, would your premium actually be any cheaper with the claim + 9 years NCD over 2 years NCD and the saving of not protecting your NCD for the last say 2 years?

Having had 2 non fault claims load my premiums I can't see the increase being offset by the NCD.

I guess if I really wanted to find out I should throw some test details into a comparison site.
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Depends on the insurers NCD discount policy and how big the jumps are.
 
I think it's entirely situational and dependent on the person and their history

Case in point is I had 4 years NCB, write off a car, admiral scrubbed 2 years NCB off, leaving me with 2.
Insurance quotes were the same with 0 NCB and 2 years NCB on various cars.

Check how many NCB you'd lose in the event of a claim with the insurer, EUI group only drop 2 last time I was insured with them. So would probably not be worth doing.
 
If it costs very little in comparison to the overall premium then it's probably worth having - but it DOES NOT stop your premium going up the following year! (although in fairness, it will probably go up less if you do have protected NCB!)

Your driving history as a whole will be used in determining your premium and so don't be surprised if after a fault claim, even with full no-claims, your premium goes up!
 
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