Simple as that, really - is it worth it?
I've been on another forum and a couple of people say its not, as if you claim you will have to stay with that company and they will raise the premium anyway so its not worth the extra...
The only way I could see it working would be if you had multiple claims in one year...
But what does everyone else think?
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There is nothing that states you must stay with the same company if you have a claim. But nonetheless, a lot depends on where you live, when you drive, and how likely you are to be involved in a bump - or how bad the other drivers are!
E.G. Someone living in London using the M4/M25 at rush hour will surely be more at risk than someone living in Wick or Thurso where the nearest thing to a traffic jam is someone in front of you at the Give Way sign - even at rush hour!
There therefore can't be any hard and fast conclusion except doing what's best for you in your particular situation.
Edited by grumpyscot on 16/07/2008 at 07:32
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There is nothing that states you must stay with the same company if you have a claim. But nonetheless a lot depends on where you live when you drive and how likely you are to be involved in a bump - or how bad the other drivers are!
But if you have one bump and switch you have to declare it - any new company will not take into account of any protection to your existing insurance - so its only of use if you stay with the same company....
I can see what you mean about location, but I was just wanting general thoughts - many poeople live in London and still have many years NCB!
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is it worth it ?
YES !
I made a claim last year when my car was written off, after lending it to a family member.
I don't think I'm paying any extra as a result of that claim - if I am, then the increase is tiny.
I've since moved my motorcycle insurance to another company - and so have to declare that claim - and again, the premium does not appear to have been loaded.
Perhaps the point here is that I wasn't the driver - even though it was my policy.
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and they will raise the premium anyway ......
I can only speak for my insurer (CIS) and they don't raise the premium at the next renewal because you've made a claim. The cost of NCD protection is quite small.
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You don't have to stay with the same company. If you claim and it is protected, when you switch companies you still declare the claim and still put full no claims. You get proof of this NCD from old insurance company.
The premium will probably still go up slightly as has been said. They work out the premium first then apply the discount.
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Checked my insurance with the pop-up chickens on this site.
They quoted an extra £20-odd for protected NCB on a £300 policy.
Well worth having at that price, in my view.
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Never had it and this is why.
I've only ever had one claim, my NCB reduced by 2 years - 5 down to 3.
Needless to say I was concerned at how much my premium would rise the following year. The renewal noticed just about doubled the premium, but shopping around I found a premium less than I had paid the year before, despite only having 3 and not 5 years NCB.
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I've been on another forum and a couple of people say its not,
see
www.honestjohn.co.uk/forum/post/index.htm?v=e&t=31...9
Relevant bit is from "Then there is protected NCD. First thing to understand - it isn't. Second thing to understand - it doesn't matter. People worry about NCD which is the most irrelevant thing you will deal with. .... "
and
www.honestjohn.co.uk/forum/post/index.htm?v=e&t=29...7
"Nasty, isn't it. I do keep telling people that protected NCD isn't all that they think it is. "
Edited by jbif on 16/07/2008 at 12:21
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After how many years of NCB it can be protected?
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I am with Esure.
After 5 years with them I am on 75% NCB - 5 yrs NCB (70%) + 5% from Esure for 5+yrs with them to make 75%
They want £20 to protect the NCB (worth £20) so I do not bother.
If I make a claim the NCB falls from 75 to73% !
Only benefit would be multiple claims in successive years.
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