As a tag on from the insurance thread, a question.
Is it always worth protecting your no claims, or is it not worth it when you have x amount of years, as I believe, after a claim, they only take a set number of years from you. Anyone know the answer??

 

Regardless of how many years you've actually built up, insurance companies treat 5 as the maximum. You lose 2 years for each fault claim.

 

Personally, I do it for peace of mind -

 

Is that true of fault claim penalty as well as percentage reduction?

ie 9 years without a claim, you'd end up on 3 rather than 7 ?

 

No - i understood that once you protect your NCB, you can have two accidents (at fault) before they remove two years NCB. However, as to what notional level of NCB they work off - I have no idea.

It is a bit of a strange one in that you might not necessary loose your NCB, but your premium will go up anyway if you have a prang.

 

It did just about stack up for me. I crashed (and wrote) off my VX220 turbo in June 2005.

Had protected no claims.

But - it's not amazing! You're quote is still calculated based on the fact you've had a claim in my case this could be as much as

 

Interesting Q.

My daughter has just got her 4th years NCD at the age of 21 .

I was telling her it can now be protected and at her age , and the car she drives it is worth doing.

her premium is

 

If you protect your NCB you're allowed 2 "fault" claims before it begins to affect your bonus. A 3rd fault claim would reduce your NCB to 3 years regardless of how many claim-free years you've held insurance.

If you don't protect it, the 1st fault claim would knock you NCB back to 3 years.

Of course, in protecting your bonus you're not necessarily ensuring that your premium won't change - you're just paying to ensure you'll receive 65% discount off the insurer's base premium. However, if you've had a fault claim a lot of insurer's base premiums go up and you'll get 65% off the higher amount.

HTH

Ray

 

Ahh, I think i get it, so it does not matter that I have 11 years, if I have a claim, it goes back to 3, not 9 (I think)

 

If it's unprotected - yes. Spot on