Nigel H

Did the usual and renewed this year with NCB. Cost seems of this seems to go up every year - this year it cost me £95 quid.

So it got me thinking - is it worth it?

What happens if you have a prang - will the next years premium ignore it, or will they add some on? If they add on then that negates NCB.

And what if you want to move insurers - does the NCB count for anything?

Ed Hodgson

Tesco told me
even without protected NCB, you don't lose all your no claims

- if you're on max no claims, your premium will only go up by 10-15%

if protected NCB is more than 10% of the premium - is it worth it?

DJB

You usually lose 2 years worth of NCB if you claim and haven't got a protected NCB. So if you were on 40% (ie 2 years) you would lose it all and if you were on 65% (ie 5 years) you would drop to 50%.

If you make a claim and you do have protected NCB, the following years' premiums will be higher (for the subsequent 3 years - the risk expires after this) since when your next premium is calculated, you are assessed as a higher risk but you will still get the same percentage discount of this new higher figure.

My personal view on, is a protected NCB worth it, is yes it is but in this case, its only worth claiming for damage in excess of £1000 or so.

D.

[Edited by DJB - 5/16/2002 9:40:03 PM]

[Edited by DJB - 5/16/2002 9:40:35 PM]

jamesjones

I agree with DJB that protection is worth it.

Example - £800 premium with full NCB (i.e. 65% discount).
This means that your initial premium before any NCD is £2300.

Therefore losing 2 years NCB (you now pay 50% of full premium) will be an extra £345 on your premium next year and £115 (pay 40% of full premium) the following year (plus the usual hikes).

Don't calculate the extra 10-15% from the current premium of £800 (i.e. £80-120). WRONG!!!!

Hope this answers your question.

J