Is there any point of paying for No Claims protection?

Is there any benefit in paying extra for NCD protection when the insurer says that your insurance premium will rise if you make a claim? Both my wife and I have over 15 years NCD, and if we have a claim they'll only take a couple of years off anyway.

Asked on 13 May 2020 by Martin Anderson

Answered by Tim Kelly
If you are high risk, i.e. you commute a lot or live in a high risk area (meaning the chance of claiming is high), then protecting your no claims is a wise thing to do. If you are low risk then it may not benefit you to protect your no claims. You do not have 15 years NCD, maximum no claims is generally generated at six years, some insurers give seven years and a little more discount. With your current history, it would drop from full no claims down to 60 per cent - in general ( some insurers differ) - which would be approximately four years no claims bonus.
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