Protected NCD?

lordrobs · 21 Nov 2006 at 14:30

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.

lordrobs · 21 Nov 2006 at 14:35

dirtydog said:
You know you'll kick yourself if you lose the protection and then need to claim.

True... but I'm kicking myself now having paid a 15% loading for the past few years without needing to. Damn catch 22

lordrobs · 21 Nov 2006 at 14:43

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.

lordrobs · 22 Nov 2006 at 09:59

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