Is no claims protection on car insurance worth it?
Find answers to your legal question.
Is no claims protection on car insurance worth it?
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Got 4 years no claims now and it seems no claim protection adds about £80 onto the premium. Is it worth it? Are there any strings attached it it?
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Evander V
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Try getting an online insurance quote It's free and quick to do. http://www.goodinternetdeals.com/Auto-Insurance.html |
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pirate_princess
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Look around, mine was renewed on the 21st and only cost me £20 to protect it, shop around. |
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William L
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Phone your insurance company and ask but £80 sounds a little dear but it is only a 4ne call. |
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Away With The Fairies
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I've got the full ten year's no claims and I keep it protected. Yes - it's well worth it! |
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ChrisL
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It all depends if you have a fault accident in the next 12 months.
If you don’t it will have cost you £80. If you do, you will probably save well over £80. It’s taken you 4 years to get to your bonus level. One minor accident and you are down to 2 years bonus. Another one and you have lost the lot.
You can sometimes loose your bonus even if the accident isn’t your fault say, you come back to your parked car and someone has hit it and driven off. Insurers pay out for your repairs but have no one to recover from.
You should expect to pay about 10% extra to protect your bonus so if your premium is £800 then £80 is probably about right although some higher rated vehicles and Pickups may be more. If not, you should shop around for a better deal. |
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B2B
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yeah it's worth it if you have an accident you will lose
2years of your bonus with most uk insurers, that could cost you a lot more than £80 when you renew the next year,
also most companies allow you 2 claims then it will reduce your bonus regardless of the protection |
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welcome news
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The rough guide I used was that if you make 1 claim in 3 years then the money you lost on your bonus was about equal to the cost of the protection (most insurers have a higher excess for protected bonus).
However if you are unlucky enough to have to make 2 claims then the savings are substantial.
As a broker I cannot recommend a client NOT to have protection if they are considering their options because of this fact. |
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