No claims discount protection is my gripe today, my insurance renewal has come through and is horrendously high through no fault of my own.
Having done many quotes on line I have learnt that the No Claims Discount Protection varies from £40 to £50, however, I am wondering is this just a con.
Lets say I have protected no claims discount at 60% and then have an accident where I have to make a claim on my insurance, whilst I will lose the protection I will retain my 60% no claims discount. However, when my renewal comes though again, I will notice an increase in premium as a direct consequence of the claim I made, therefore not only have I lost my No Claims Discount Protection but have also suffered an increase in premium.
So my question is this: Had I not have paid for the NCD protection and still made a claim against my insurance company my NCD would be reduced to 40% at renewal thus increasing my renewal premium by 20%. To my mind regardless of the NCD Protection, if a claim is going to be made against the insurance then they must load the premium as a penalty and would this loading be equal to 20% thus making the NCD Protection a farse.
Having done many quotes on line I have learnt that the No Claims Discount Protection varies from £40 to £50, however, I am wondering is this just a con.
Lets say I have protected no claims discount at 60% and then have an accident where I have to make a claim on my insurance, whilst I will lose the protection I will retain my 60% no claims discount. However, when my renewal comes though again, I will notice an increase in premium as a direct consequence of the claim I made, therefore not only have I lost my No Claims Discount Protection but have also suffered an increase in premium.
So my question is this: Had I not have paid for the NCD protection and still made a claim against my insurance company my NCD would be reduced to 40% at renewal thus increasing my renewal premium by 20%. To my mind regardless of the NCD Protection, if a claim is going to be made against the insurance then they must load the premium as a penalty and would this loading be equal to 20% thus making the NCD Protection a farse.