Protected NCD?

lordrobs

lordrobs

lordrobs

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Just wondering what the general opinion on this was?

I've got renewal time coming up and I'll have 8 years NCD. For the past 3 years I've had my NCD protected but my gf who works in insurance says I'm piddling my money away as basically I'm paying a 15% premium for the privilege but if I do have a claim then I'll drop by 2 levels from 5 years to 3 which AFAIK is about a 20% drop?

Your thoughts and opinions please.
 
dirtydog said:
You know you'll kick yourself if you lose the protection and then need to claim.
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True... but I'm kicking myself now having paid a 15% loading for the past few years without needing to. Damn catch 22 :p
 
I have mine protected, it costs me about 7 or 8% of the value of the insurance. Loosing it would double the insurance. Seems worth it to me.

Plus, having protected NCB means I'm much more likely to claim for damage if, say, some twonk clatters it in the carpark.
 
See my basic premium was £372.75, NCD protection is £67.20. Just got my mate Casio to help out and I make that 18% :eek:

Now if a claim meant losing the whole 60% discount then that would be fair enough but as you only drop 2 levels.... not so sure.

Plus the cars getting on and is worth, well not a great deal.
 
Yes, but with your protection you can claim and not lose any NCD!

I have mine protected, the discount is well worth keeping my bonus high, just in case.
 
Surely it's a bit of a con anyway, because if you claim despite your discount protection you'll still have to list a claim which will up the premium anyway?
 
spaz said:
Surely it's a bit of a con anyway, because if you claim despite your discount protection you'll still have to list a claim which will up the premium anyway?
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Not as much as listing the claim AND losing your NCB...

I have mine protected, for the small extra cost it's worth it IMO.
 
Good idea in principle and defiantly will help if the worst should happen. As the other poster said they will get you anyway this is no magic cure. Obviously without NCB the damage will be even worse but saying that I would be careful how much I would pay for protected NCB.
 
It isnt worth it in certain situations like if you have 10+ yrs ncd as companies only discount for betwen 5 and 8 yrs ncd iirc.
 
Are you sure you have got the right end of the stick?

I thought that once you make a claim, irrespective fo the level of NCB you have, then you revert to 0 years. Only if you protect it, can you then drop 2 years (if you had three accidents in two years for example).

I'm probably wrong mind :o
 
Sadgeek said:
I thought that once you make a claim, irrespective fo the level of NCB you have, then you revert to 0 years.
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I only dropped from 3 years to 1, even though I didn't have NCD protection when I had a fault crunch and wrote off my car.

Even if you protect your NCD, a claim can still affect your premium. NCD is just a discount as far as I can tell. Once you've made a claim, your base insurance is higher regardless. You get to keep a bigger discount from it if you pay for protected NCD, but it can still go up (just by not as much).

I'm in the school of thought that says protect your car, but pay an absolute minimum for cover. I don't get a protected NCD (not that I can now anyway) and I pay a large excess. The way I see it, if I do £300 worth of damage, I'm not going to claim on my insurance because it'll cost me more in the long run, so I set my excess high and pay less. Even if I do make a claim once in a while, I'll save the money in a couple of years that I would have paid for a lower excess.

Basically insurance is all a gamble.
 
I work in insurance,

Sometimes protected NCD is worth it, sometimes not. ask your insurer what the step back is for a claim. Sometimes it's only a few %, sometime s a lot more, it depends on where you are on the scale.

Also whether it's worth it depends on what you are paying. It costgs me about an extra £25 so I have it. If it cost £100, I probably wouldn't.
 
...If you don't stay with the same insurer at rewnewal then you're gonna have to tell the new company about your claim and you're gonna lose that way. Mostly a complete waste of money unless you keep with the same firm year after year.
Never bothered with it myself.
 
Ok, thanks for the input.

Just to clear up a couple of points (I hope anyway)

Firstly- if you have a claim you drop two levels, not to 0.
Secondly- If you have 10 years no claims but your insurers maximum level of discount is 5 years then in the event of a claim you would drop 2 levels, not 2 years so you would effectively drop to 3 years no claims. Thats what I've been told anyway.

In the end I decided to ditch the NCD protection. At 18% of my premium price I didn't think it was worth it. Up to 10% I'd probably have kept it.

After changing a few details and getting my gf on the policy (doubt she will ever drive the car) it dropped to £309 for fully comp which considering I need 14000 miles a year and business use I wasn't too upset about :)
 
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