Is protected NCB worth it?

[clk320x]

As above.

 

[W1ghty]

If you don’t ever have accidents , then no

 

[190]

Protected NCB is only a partial solution as your premium will still rise following an accident because they think you are more likely to have another one. I have never bothered with it.

 

[markjay]

My experience is that it is worth it.

Keep in mind that even the best of drivers can have a claim on their policy, e.g. when someone hits your parked car and drives off with no witnesses (which sadly has happened to me some years ago).

 

[T5R+]

Suspect that you only find out after a claim and at renewal.

Many believe that worth it - I have always bought it but never (luckily) had to use it.

 

[AMGeed]

I have always had protected NCD but not used it since the 80's.
Probably money down the drain, but it costs little to add to the annual premium.

 

[Steveml63]

Protected NCB is probably the biggest con going in the motor insurance industry!
You are protecting the percentage discount that you receive on your premium - not the base premium.
For example, without protection - your discount might go down from say 60% to 50% discount.
With protection - it would stay at 60% discount.
But -and this is the big but - it does not stop them from raising the base premium.
People have the impression that by protecting their NCB - their premium is protected following a fault claim.
So - following a claim - your premium will rise - whether protected NCB or not!

 

[markjay]

I think you need to understand what product are you buying when you buy insurance.

I often hear people say that this or that cover 'wasn't worth it' because they had no claims.

But that's a misconception of how insurance works. Its isn't the Bookies, where you 'win' if you got more out of it than what you paid in, and you 'lose' if you didn't get back what you invested.

Instead, the product you are buying in Peace of Mind. If you are not the type that loses sleep at night over what will happen to your renewal premium if you have to make a claim, then don't buy Protected NCD. If, however, you sleep better at night having bought it, then you got your money's worth.

You don't need to make a claim for Protected NCD (or any other insurance product) to be worth your while. You just need to get the Peace of Mind which the insurance cover is meant to provide.

 

[poormansporsche]

Yes it is worth buying.

I had a completely out of the blue total loss due to a electrical fire. Unsurprisingly my current insurer wanted a fortune to insure my new car for the remainder of the policy. I just went to a new insurer with full no claims and told them of the total loss and paid virtually no more than before, try doing that with without the discount as well.

 

[Rayny]

Two possible scenarios during the policy year :
1 - You have no incidents. This is what we all hope for, even if you have not benefitted from having paid to protect your NCB.
2 - You are unlucky enough to have 1, 2 or 3 incidents which are still 'open' at the renewal date. This could be car park prangs, hit and run damage (where the other party denies that they were in the area at the time) , a comng together on a roundabout where the other party does not accept liability, or even a skid (on an icy road) that causes damage to your car. You could lose 2/4/6 years NCD at renewal - Some insurers will require a number of years NCB to offer cover on some higher end cars, so may not be able to offer you a renewal quote at any price.

Only you can decide.

I always check the cost of adding NCB protection, and usually find that the peace of mind is worth the extra cost - I did not have any claims for over 25 years, then I had 3 incidents within one year ( One where I was stationary in traffic and somebody reversed into me, I was not even in the car for the other two). Thankfully, I'venot been involved in any incidents since then.

 

[OneForTheRoad]

Save your money and buy a crystal ball , that way you can avoid being in an accident.