Steve vRS

Mods, please don’t move to Insurance…

I recently took out a policy for my wife’s car with More Than.

At the time of the quote and call, I forgot to ask for protected no claims, a point I only realised once I received the insurance schedule, which took 10 days to get to us due to the Xmas break.

I called them up and asked for the protected NCD to be added but was told that as we had had two claims last year (our house was burgled and both our cars stolen with keys and recovered) that they would not add this for us.

So, how much difference does having a protected NCD have should we claim this year on next year’s renewal? Our premium has increased this year as we claimed last year anyway.

Thanks

Steve

stevebt

iTrader: (8)

I haven't got protected NCD on my van as they wanted nearly £200 per year more for it and I didn't think it was cost effective.

Snazy

I have asked myself the same question recently mate.
It costs a fair old bit to do, you only lose X% on making a claim anyway, and as you say, PNCB or not, if you make a claim in that time, a claim is still held against you.

That said, its almost a licence to claim for something every couple of years. Im allowed 2 in 3 years before I lose anything. Not that I would, but I do know of people who have taken advantage of it.

PaulC72

I think it is one of those usual things it is only worth having if you need it, not much help but we have it on both our cars.

phil_wrx

iTrader: (2)

i have my 7 years no claims protected on my first scooby, a-plan just mirrored the discount onto my new sti but i have 0 no claims bonus on the new car so i didnt need to protect it as u cant lose nothing from nothing

+Doc+

Protecting my policy cost me no more money.

GC8

You can only answer this question at the end of each insurance year.....

Reffro

My mate forgot to protect his bonus, 9 years. His wife smashed his car, and instead of paying £300 this year, he's paying £900..........He'll tell you that protecting your bonus is worth it in the long run.

Dracoro

You reckon he'd still be paying £300 if he had it protected????? All it does is protect the DISCOUNT, NOT the initial premium (which is higher if you claim AND even higher if you've protected NCD.

If it was protected, they'd put the premium even higher, the end result is the same.

Shop around, there's enough competition out there that you can ge the best deal going, NCD or no NCD.

Go for it if it's a cheap add on but if it's any higher than, for example, £50 then I personally wouldn't bother.

MikeCardiff

iTrader: (2)

Definitely not worth it if all you do is accidentally reverse into something and crack your bumper, but probably is if you shoot off the road and end up upside down in a field.

Like most insurance - its never worth having until you actually have to claim on it, then you're glad it was there.

For lots of policies it isnt much extra, so is probably worth it just for the peace of mind.

stuart n

I didn't protect my no claims 3 years ago and promptly wrote my car off
As a "good will" gesture the insurance company let me have 3 years NCB as I'd been with them for 12 years without claiming. Have protected them again now though!

zip106

Protected mine on my truck this year and the premium was about £100 cheaper than last year.
Of course, it could be that I'm a year older and have 1 year more claim free period...

What I'd like to know is which companies will mirror NCD on a second car?

speedking

My 2p.

Insurance companies are not charities. they will always take in more than they pay out (except Lloyds). Consider that on average (no admin, no middleman, no overheads to fund) you would be better off putting the extra premium into a high interest account for the rainy day. Do that for all your non-essential insurances and save a fortune

Timwinner

iTrader: (3)

As many have said, it protects your bonus, doesnt effect your premium. If you £300 with 7 years NCD, have an accident with protected NCD the following year you will still have your NCD intact however they are more than allowed to whack the premium upto £1000.

Bit of a scam to be honest, I do it as it cost about £20 a year but I am still not convinced its worth the paper its printed on.

fivetide

iTrader: (1)

Basically:

Premium £1000 - 50% NCD = £500

Have a crash lose NCD

Next year premium = £1500 and you have to pay it.

However, protect your discount and premium = £1500 - 50% NCD total payable £750 or you are £750 up.

As others have said, it can seem like anything else with insurance, it is expensive until you need it, even if it is only 20 quid.

5t.

speedking

Bear in mind also that if you have a number of years under your belt then in most cases you will not lose your entire NCD but will be stepped back a number of years (perhaps 2).

Say you survive 4 claim free years and the applicable discounts are 30%, 40%, 50%, 60%, then if you make a claim then your discount will reduce from 60% to 40%, not 0.

So in your example have a crash lose 20%NCD. Next year premium = £1500 - 30% = £1050 and you are £300 up. If protection has cost you £100 a year then you are even over the three years.

These figures will vary from ins. company to ins. company, but its not as clear cut as you make out.

Dracoro

I don't think that's how it works For one, you normally jsut lose 2 yrs NCD, not the whole lot!

They will probably work the other way round.

So they ascertain your risk and work out, for example, that £500 is the (min) premium they wish to charge.

1stly they see you have 75% so they make the initial premium £2000. (75% off gives you the £500 premium).

2nd scenario they see you've got only 50% NCD so they make the initial premium £1000. (50% off gives you £500 premium).

Given that most *sensible* owners shop around every year, you can get the right price. As said, most insurers just look at your accident history.

Bubba po

I had my scoob stolen a couple of years ago, never to be seen again, and then my replacement scoob stolen within five days. That one was recovered after about a month, with wheel damage. Our policy has 75% NCB on it and if the protected NCB hadn't been on our policy we'd have been fooked. Interestingly, it only cost about £30 to protect our NCB with L&V, so I would say yes - absolutely, POSITIVELY worth it.

Steve vRS

Well I've decided to cancel the policy that won't let me have protected no claims and take out another that will. It's about £50 more expensive. More Than have waived their cancellation fee of £55.

Steve

fivetide

iTrader: (1)

Its a basic example. There is no rule that says they will only step back a year or two, they can do what they like. Again, one of those things you don't know you need until it actually happens to you.

Wonder how far back they were going to take Bubba's NCD...?

5t.