Worth paying extra to protect no claims bonus?

16
Posted 23rd Nov
I have about 11 yrs ncb, do most people.pay the extract £20 or so premium to protect theirs?

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Your premium will still go up if you claim. Just saying, as many people think a protected NCB will prevent it.
16 Comments
Do a search without the full NCB and see how much it goes up.
This is a no-brainer
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deleted1471098
Yes
Your premium will still go up if you claim. Just saying, as many people think a protected NCB will prevent it.
I always add it.
Look at by miles they include it.
London postcode £170 a year plus 3.2p a mile ( 9 years no claims )
Great prices for Older drivers.
If you get a referral you both get £50 of free miles.
terriclarkfan23/11/2019 20:07

Your premium will still go up if you claim. Just saying, as many people …Your premium will still go up if you claim. Just saying, as many people think a protected NCB will prevent it.


Protected or not if they have to pay out,they will wandt their money back.
in my opinion, if its less than 40-50 to protect then yes, otherwise no.
at the end of the day the big question is. " have you had any accidents in the last 5 years" Say yes and your preminum goes up protected no claimes or not.
False economy in most cases. If you make a claim your premium will still most likely rise. Also if you were at fault you would usually only lose 2 years of your no claims anyway. Most insurers will only discount for around 5 years no claims. So if you've got 6 years or more no claims it's most certainly not worth it. It can be worth it for the first few years though. For example my insurance virtually halved after 1 years no claims etc.
flang23/11/2019 21:41

in my opinion, if its less than 40-50 to protect then yes, otherwise no.at …in my opinion, if its less than 40-50 to protect then yes, otherwise no.at the end of the day the big question is. " have you had any accidents in the last 5 years" Say yes and your preminum goes up protected no claimes or not.


Declaring an accident doesn't always increase your premium. Using comparison sites it was a couple of quid cheaper declaring a non fault accident than not! Although both the cheapest quotes were Hastings direct. Might vary with other insurance companies. Might be best getting various different quotes using different scenarios to get an idea.
terriclarkfan23/11/2019 20:07

Your premium will still go up if you claim. Just saying, as many people …Your premium will still go up if you claim. Just saying, as many people think a protected NCB will prevent it.


Exactly, instead of your premium being 700 it will be 1000 because you're a greater risk. Also it means nothing at all if you move to a different insurer. You've still had a claim as far as they're concerned.
I’ve 20 years without claiming- never added ncb protection- always go cheapest
terriclarkfan23/11/2019 20:07

Your premium will still go up if you claim. Just saying, as many people …Your premium will still go up if you claim. Just saying, as many people think a protected NCB will prevent it.


That's true. But if you don't protect your no claims, you will lose most of it when you do claim and then when you renew it will go up that much more.
Remember, when getting insurance quotes it always asks how many years NCB you have.

Protection is more so you can still say x years even if you have made a claim. Which is stupid now I think about it! But that's the way it works.
AMO24/11/2019 07:14

That's true. But if you don't protect your no claims, you will lose most …That's true. But if you don't protect your no claims, you will lose most of it when you do claim and then when you renew it will go up that much more.


You only lose 2 years no claims in the event of an at fault claim. If you lost all of them it would be worth it but you don't. They only really discount for first 5 years no claims. After that it's minimal discount depending on insurance company. Really is a waste of money for 90% of people who buy it.
.MUFC.24/11/2019 08:51

You only lose 2 years no claims in the event of an at fault claim. If you …You only lose 2 years no claims in the event of an at fault claim. If you lost all of them it would be worth it but you don't. They only really discount for first 5 years no claims. After that it's minimal discount depending on insurance company. Really is a waste of money for 90% of people who buy it.


I’ve heard that you can lose more than 2 years. Maybe things have changed if this is now ringfenced.
AMO24/11/2019 08:53

I’ve heard that you can lose more than 2 years. Maybe things have changed i …I’ve heard that you can lose more than 2 years. Maybe things have changed if this is now ringfenced.



Two years is the industry standard.

Oh to complicate matters further most discount 2 years off the maximum no claims they offer. For example you have 8 years but your insurance company only recognise 5 years after a claim it would knock it down to 3 so yes, I apologise I am half wrong and wish to retract my previous advice.
Edited by: ".MUFC." 24th Nov
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