Just got my insurance renewal notice. They want £379 to insure my C5 fully comp with protected NCB.
However, within that price, the cost of protecting my NCB is £51 !
I have been paying this sort of sum for many years to give me the protection, but have never got any benefit from it as i've never claimed.
Any thoughts on whether or not its worth paying out a significant %age of the price just to protect the NCB?
Cheers
Trev
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you could have 2 claims next week
i would definately have it
wish i could get it
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My very thought bb. You never need these things until you forget to renew them, then all hell breaks loose.
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I don't know, say you have 8 years no claims bonus (as I do), and have two claims, it will only go down by 2 years I think. Would a reduction to 6 years NCB cost you the £150 extra over 2 years?
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Any thoughts on whether or not its worth paying out a significant %age of the price just to protect the NCB?
I've had a protected NCD for so long I can't remember what percentage I pay for it. However, I'm sure it's not as high as yours. Nevertheless and notwithstanding, I certainly wouldn't want to go back to having no protection. I just like the peace of mind it gives me.
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L\'escargot.
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There is a guide here
www.confused.com/buyersguide/no-claims-bonus-expla...p
Apparantly the NCD is not applied at the end of calculations and claims can still be used to weight the policy even if your NCD is protected.
I have never made a claim but still pay for NCD and legal protection.
You could consider increasing your excess to lower the premium but again might be kicking yourself laying out £500 instead of £100 in the unlikely event of a claim.
Also compare the renewal cost against quotes on the web.
My insurer tried to charge me nearly double on my house/contents than they were quoting on the website and around 25% more for car insurance.
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I had two bumps last year. Both my fault. The second - praise God - at >50mph in ice where I deserved to have at least a stiff neck and at worst the inability of myself or others to post on this esteemed forum ever again. And the earlier was the first I'd had which was my fault for several years - at least, the first I'd had in several years of a protected NCB.
My insurance didn't change - although I was warned, after the second, that I needed to keep my nose clean for a while thereafter.
I'd definitely consider it worth it.
BTW, my insurance is with Sainsbury's - and they're the first insurer I would recommend without hesitation.
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I used to think like that. I didn't have an accident for 11 years, and did not pay for protection. Last year I was hit from behind by an uninsured little witch in a blue Polo and lost my no claims as a result, so my premiums went up almost 100%. Protecting your bonus is well worth the money, IMO
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Before you pay your renewal log onto your insurers web site and get a new quotation as if you were a new customer. I have just done this and got a saving of £50 comprising a discount as a new client plus a discount as a web customer.
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I had a claim about 4 years ago on a Toyota HiAce.My wife drove it off the drive and turned left a bit too sharp and
managed to scrape the sideloading door on a telegraph pole.As it was too bad to repair, I claimed on my comprehensive
insurance.I had never had a claim before and had the maximum NCD allowed by the insurer.My premium that year was about £196 or so,certainly
under £200.
The door was replaced and new sign writing applied and a good job was done.
When next years renewal came through,the premium had gone up to around £1000.On asking why this great increase, I was told it was because I had had a claim and therefore my NCD had been reduced.
Now,a claim would reduce the NCD by two years or back down to 40% according to my calculations so where did they get their figure from I asked.The broker just replied that that was the renewal premium quoted by the insurer.In effect,they had just added the cost of repair on to my premium.
So, as someone said,It does not really matter what your NCD is, as they will work out a premium first to suit themselves and then deduct the NCD
discount at the end, so really they can charge you whatever they want.
And to those who might be thinking, go somewhere else, I did and of course you must answer truthfully the question "Have you had any accidents or claims in the last three years"
Guess what, they all quoted roughly the same.I ended up going TPFT and it still cost over £600.
I would have been better of paying for the repair myself in this particular case .
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Costs about £2.50 (yes, two pounds fifty) for guaranteed NCD on both mine and my wife's policies with Elephant. No brainer! Insurance is cheap too. Wait to see what happens if we ever have to make a claim.....!
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RichardW
Is it illogical? It must be Citroen....
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Costs about £2.50 (yes, two pounds fifty) for guaranteed NCD on both mine and my wife's policies with Elephant. No brainer! Insurance is cheap too. Wait to see what happens if we ever have to make a claim.....!
I really hope you don't! *remembers*
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Before you pay your renewal log onto your insurers web site and get a new quotation as if you were a new customer. I have just done this and got a saving of £50 comprising a discount as a new client plus a discount as a web customer.
I got nearly a 50% saving by doing this - and increasing the excess from nil to maximum - £350 (on a car worth not much more than the excess). I may have posted a thread on this - I intended so to do.
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I , like most it seems on here, go for the bonus protection, but i'm not convinced it's worth it...because
as mentioned above, the Protected Bonus is only of use to you if you stay with the insurer you're currently with at that time...i.e. if you swap around each year and have had a claim in the meantime, you're not going to be accepted with the new company for however many years of no claims for a protected bonus, are you...
and if your current company raises your premium significantly because of your accident, even though it's still a Protected Bonus..you are still paying a high premium aren't you
I too have realised the hard way, that in reality, anything less than about a grand is not worth the hassle of claiming on your insurance, as it affects my car's policy, wife's, my bike and possibly my classic car (car not currently on the road, so don't know).
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Well, i've renewed with Direct Line.
Went for the NCB protection in the end.
I know the first time I dont bother with it will be the first time im going to need it.
Thanks for the responses....there are some very valid points here.
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You are free to move around insurers with protected NCB even if you claim. You must still declare the accident.
My NCB protection costs me about £80 a year, but I'm in my 20's and have 4yrs NCB. If I lost 2 years NCB due to a fault claim my insurance would jump from £680 to about £1300, the fault claim alone would put it up to £760. There are so many uninsured drivers around these days I felt it was worth it.
I always run a big excess on my insurance as that seems to bring the costs down significantly - I think this year my excess is £900, but that knocks about £300 off the premium, so in effect I'd be paying £300 to insure a potential £600 loss in the event of a fault claim, so I decided I would underwrite that risk myself.
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When I renewed with MoreThan, the protected NCD did not put the price up. I guess it depends on history, age etc.
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I've never had NCB added to my insurance premiums and, in fact, never needed it. However, if it did cost as little or even nothing as some examples provided earlier in the thread, I might change my mind...:-)
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What\'s for you won\'t pass you by
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My renewal this year was £373 - £45 was for NCDP - £22 for legal protection and £75 was breakdown for two people in any car and this is for group 16 car - all this from well know supermarket chain -
I did shop around as I thought it was expensive but the difference wasn't worth changing.
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For what it's worth ........... see tinyurl.com/3xbqrp
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L\'escargot.
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For what it's worth ........... see tinyurl.com/3xbqrp -- L\'escargot.
The press release seems to have the wrong conclusion! But could a release by a company that gets more commission from people paying more for insurance suggest anything else?
They are saying you should pay about £40 extra per year with certainty to avoid having to pay an extra £60 per year only if you have to claim. They have also forgotten to add a column for the protected premium with a claim in the last 12 months, which would narrow the gap further.
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£379 seems an awful lot, how much NCB do you have?
Our C5 cost a lot less to insure than that last year and I have protected NCB.
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£379 seems an awful lot how much NCB do you have? Our C5 cost a lot less to insure than that last year and I have protected NCB.
That should be this year, January to be precise.
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Ive got max NCB (22 years claim free actually). I beat them down to £333 in the end. Which model C5 do you have? Mine is 2.0 Exclusive auto with 2.0 VVti 16V engine.
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The annual average mileage plays a key role in how much or little you pay in premiums.
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What\'s for you won\'t pass you by
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Ive got max NCB (22 years claim free actually). I beat them down to £333 in the end. Which model C5 do you have? Mine is 2.0 Exclusive auto with 2.0 VVti 16V engine.
2.2 HDI Auto. I am with More Than.
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Ive got business use too....and live in a city. The car is only 4 months old. I didnt think £333 was too bad?
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£379 seems an awful lot ........
It depends on the quality of the cover.
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L\'escargot.
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I suspect the numbers are even more flawed than that, i.e., they don't take into account the reduction from five years to three years' NCB.
Running my own numbers with Tesco (a 30 year old woman, driving a 2002 Focus 2.0 Ghia in a low-medium risk area):
Protected 5 years' NCD, no claim - £328
Protected 5 years' NCD, with claim - £358
Unprotected 5 years' NCD, no claim - £290 - so near enough £40 saving here
3 years' NCD (can't be protected), with claim - £438
So you pay the £40 extra every year and avoid a £148 premium increase in the first year and a little more again down the line, so possibly £300 all in, less perhaps another £80 for the claim even with the NCB.
So claim more than once every five or six years and you come out ahead if you protect. Of course if you manage to get five years' no claims you probably won't be claiming that often in the first place...
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