salsa-king

no claims discount. NCD

just had tesco renewl through and I've got 5yrs NCD, they've also offered for an exra fee protection of the 5yrs NCD.

surely I should get a a bigger discount cus I've not had a claim.

offering to protect it makes people less careful?

and those who have a bump whilst with a protected NCD must put up 'mine + yours' insurance?



Also do i understand it correcly if I had a no fault claim (ie: someone ran into me) that wouldn't effect my 5yrs NCD anyway?

P1Fanatic

You are paying to keep your NCB in the event that you make a claim that your Ins company dont make a full recovery on i.e. one where you were found at fault or other driver was not insured etc. If you made such a claim without protection they would probably take of 2+ years of your NCB.

There is nothing to stop them bumping up your premium though - happened to me in first car when I had a crash. But by the same token you can then leave said insurer and go elsewhere with your full NCB intact.

As the saying goes "you pays your money and you takes your chance". I think from memory mine is about £30 on top so is circa 10% so I dont really think about not paying it.

Simon

Snazy

I have protected NCB too, like Simon says, its about 30-40 quid. And worth it imo.
As for premiums going up, dont even go there, mine went up 10%!

PaulC72

Protect NCB always

SJ_Skyline

Phil,

The no claims protection saved our no claims bonus after I killed our scooby. Having had to use it in the past, I swear by it mate

scoob_babe

I got a quote for a car when I thought I had lost all my NCB due to us only having 1 car and it not in my name. The premium was substantially higher without the NCD so I would pay to protect it. We had 2 old minor non fault claims on the scoob and then the total write-off so if it hadn't been protected, we'd have been screwed!

LG John

Absolutely worth it. A uninsured driver hit my scooby in September and I had to claim from my own insurance. They are trying to get it back off him but we all know that will NEVER happen. My premium will go up because I'm registered as having had an incident but I'll still get my full 60% (or whatever it is) discount on that premium.

tomski2

I think its a bit of a scam to be honest, unless you are going to stay with the same company. If you have a bump ok you keep your no claims, but if you then try and get quotes from other companys first thing they ask is have you had any claims/convictions in the last 5 years, when you tell them that you have had a claim I am sure they would whack your premium up even if you do still have your no claims.

Luminous

iTrader: (3)

Totally worth it. Imagine you are 10 months into your policy when someone smashes into you. You have to claim on your insurance, they claim on theirs. Before the case is settled as to who is to blame you have to renew your policy.

When you are ringing around other insurance companies you have an outstanding claim, and no protected claims discount. As you made a claim at the time of the crash insurers view you as having lost your NCB. If you are later found to be not at fault then you regain your NCB (guilty until proven innocent). Basically it means that its really hard to get competitive quotes at renewal, and any quotes you do get are a long winded process of explained what happened...you can forget using somewhere like confused.com

This happened to my friend, and basically he was forced to stay with his current insurers. The current insurers quoted him a renewal premium on the basis of him losing his NCB (+£800 at the time), should he be found subsequently not at fault this additional premium would be repaid.

9 months after the accident the claim was settled and he got his additional premium back. It did mean he was £800 down for 7 months (he had 2 months left on the policy before he had to pay). It also meant he could not get competitive quotes easily which he estimates cost him £150 that was never recovered.

For the stress and hassle, just protect it.

Dracoro

Problem is, many people think protecting the NCD is protecting the premium, it isn't! It protects the discount, nothing else.

If you have a claim, they whack up the initial premium before applying NCD.

If you have a claim, you don't necessarily lose ALL the NCD, just a year or two commonly.

There is competition in the market place and they go on a number of risk factors, not on any NCD therefore you'll find it balances out so protecting it may not help you at all.

e.g.
Ins company 1:
£2000 initial premium with 50% NCD so £1000
Ins company 2:
£1500 initial premium with 33% NCD so £1000
i.e you pay the same premium with or without that X years NCD.

If you've had a claim a company see that you have NCD that is not representative of your claims history then they push up the inital premium further (e.g. ins company 2 above would make initial premium £2k).

Protecting NCD is a way for the insurance company to make a bit more money, NOT to save the consumer cash.

Anyway, shop around, I bet the difference in premiums is neglible, see my above comment! There's enough competition in the marketplace to get the best ins quote.

silent running

Complete rip off if you want the cheapest insurance every year. It's just a way to tie you to one company so you can't move around. Whatever the reason, if you have a claim on your policy then at the end of the year you want to move insurance companies, how much value does your 'protected' NCB have? **** all. If you crashed, you crashed, that's all there is to it.

wwp8

leave tesco while you can , they are great to start of with, and then the renewal are hardly much to talk about .. move to a-plan ASAP!!

scoobynewbie72

iTrader: (1)

Im with you, they were the lowest by far this week when I rang around

rik-1

Some companies offer a 'transferable protected bonus' whereas a lot of companies havn't heard of it. Always ask if the bonus is transferable.

salsa-king

this is what I was thinking.
as you don't take the protection with you if you move, untill the followng year they might offer you the porotection?i'll ring and see how much extra it costs.

scoob_babe

Totally agree with the comment about Tesco. When I looked to renew, they gave a ridiculous price and when I questioned it, the response was along the lines of 'well, sometimes, we're cheaper, sometimes we aren't and this time we aren't and I'm not changing the price!' When I got another call about them trying to sell me it, I politely refused and told them what their call centre monkey had said

speedking

Here we go again. Insurers are not charities.

On average your additional premium has to cover all the claims made, plus the administration costs. So, on average, you would be better putting the money in the Building Society and spending it on something else in a few years time.

For everyone who says "It was the best £30 I ever spent", there are hundreds who have paid and received no benefit whatsoever.

sarasquares

iTrader: (1)

my renewal was over £100 chaeper even after i made a claim on my PNCD

i changed company's to get the cheaper deal

stevebt

iTrader: (8)

I went to protect the NCD on my van and it increased the policy by nearly £200 so I told them not to bother. The price it went up to was nearly the price it was when I first took insurance out on it with no NCD so whats the point

salsa-king

rang them this morning, protecting it went to £273 from £238

told them I was on my wife tesco insurance as named driver... he went away, came back and said that will bring it down to.........













£268 winner





so now all protected for another year

speedking

Come back in a year and tell us how it feels to have wasted £30!

salsa-king

maybe, its always the WOT IF, wotif some one joy rides my car and trashes it and then runs off, then I've noone to claim off?

jjones

as mentioned above you would probably lose 2 years NCB in event of a claim, did you bother to run the quote with 2 years less ncb than you currently have?

salsa-king

sorry no.

but come next year will look at swapping companies... then that was a waste of the protected!

noobyscooby

So you don't insure your house or contents, put the money in the bank and feel great each year becasue you've not been ripped off by your insurers.

Somehow I think not.

speedking

No because I can't afford to have my house burn down. My house and contents are insured, but they are considerably more valuable than NCD.

Depends what you pay on insurance. Mine is ~£600, so loss of 20% of my NCD = £120. I'm not going to pay £30 to cover that. Might be worth it if you pay £2k and would lose 40% of that in the event of making a claim.

If I have to make a claim there is the matter of the huge compulsory excess that would swamp the loss of NCD.

Do you insure all your domestic appliances?

salsa-king

i had a extended warranty offer come for £38 for four years on a fridge i bought last year.

the fridge only cost me £99 brand new.