Insurance - NCB Protection

[philcerbera]

Due to renew my insurance policy this week. Looks like Tesco are the most competitive. Their online system lets you add and take away features, displaying the new price each time. The NCB protection will cost an additional £80, or about 20%.

I've got full NCB and have previously protected it. But I'm unsure if it’s worth a 20% premium. My experience suggests that the policy premium reflects your overall driving record and that the NCB has little effect on the final premium you pay.

Are there any insurance experts than can tell me if NCB protection is worth an additional 20% of the premium?

[kojak69]

Think of it this way. If you have a bump and its your fault, you'll loose 2 years NCD. In which case it'll cost you more the following year, plus half again the year after. You could even have a further bump during those 'catch up' years, and drop even further. GET IT PROTECTED.

[kojak69]

Also see this thread.

www.pistonheads.com/gassing/topic.asp?t=88499&f=23&h=0

[Muncher]

Although your NCB will be protected, they will still load for premium for the claim.

I worked for AXA last year, the general view was it doesn't make THAT much difference, if you have to make a claim. I'd probably opt for it, but it's not as brilliant value as it seems.

Though, for a 20% increase, I wouldn't bother, if you have an accident your premium will not rise 20% anyway from the drop in NCB.

[kojak69]

Muncher said:

Although your NCB will be protected, they will still load for premium for the claim. I worked for AXA last year, the general view was it doesn't make THAT much difference, if you have to make a claim. I'd probably opt for it, but it's not as brilliant value as it seems. Though, for a 20% increase, I wouldn't bother, if you have an accident your premium will not rise 20% anyway from the drop in NCB.

Would disagree with some of the points. I/We had 2 cars stolen, plus a bump, a few years ago, and not in the same year. Our premiums didn't really alter at all, ( thanks to having them protected). You'll generally drop from 65% down to 45% otherwise. It'll then take you 2 years to get back up to full NCD...assuming you dont make another claim. At the end of the day...whats £80.

[zetec]

I have always protected my NCB with Tesco. Had a minor bump (disputed blame ) my policy this year rose by £28 (Around 7%)

Always worth protecting.

[kojak69]

zetec said:

I have always protected my NCB with Tesco. Had a minor bump (disputed blame ) my policy this year rose by £28 (Around 7%) Always worth protecting.

and some of the 7% will be the normal yearly increase anyway.

[chrisgr31]

Muncher said:

Although your NCB will be protected, they will still load for premium for the claim. I worked for AXA last year, the general view was it doesn't make THAT much difference, if you have to make a claim. I'd probably opt for it, but it's not as brilliant value as it seems. Though, for a 20% increase, I wouldn't bother, if you have an accident your premium will not rise 20% anyway from the drop in NCB.

I had a claim 18 months or so ago, for malicous damage. Claim was for over £2,000. At renewal my premium actually went down despite the claim!

Mind you it should be possible to do the maths but the guarantee does protect you for 2 claims in 3 years or whtever, which of course is not possible after one claim!