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Full Bonus Protection - Yay or Nay ?

  • 12-12-2008 5:45pm
    #1
    CrowdedHouse
    Registered Users Posts: 6,803 ✭✭✭


    What's your thoughts on paying extra for NCB protection ?

    I just got my renewal the other day and was looking at the breakdown.
    My net cost is €550 but I notice that the base premium is over €1400 :eek: before the various discounts etc are applied.

    At the moment there is step back on it,which in the event of a claim would cut my NCB from 50% to 20% so it would be a fairly saucy renewal amount if I had a claim.

    Full Protection would make my premium €620 odd,which just to me makes my insurance seem very expensive.

    I'm accident free for decades and not planning one :D

    Seven Worlds will Collide



Comments

  • #2
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,600 Mod ✭✭✭✭L1011


    Insurance on your insurance - I find the very idea disgusting and would refuse to pay it on that basis....


  • #3
    Anan1
    Registered Users Posts: 22,818 ✭✭✭✭Anan1


    I have it, i'm paying €475 on a 2.5 petrol turbo and i'd like to keep it that way.


  • #4
    unkel
    Registered Users Posts: 64,745 ✭✭✭✭unkel


    CrowdedHouse wrote: »
    I'm accident free for decades and not planning one :D

    Same here but I still used to have full NCB protection. In my case it would mean I would keep my full no claims discount even if I had a (big) claim. The charge for this was about 15% on top of my premium. The main reason I went for it is that I had a fairly powerful car and if I had a claim and my premium would significantly go up, I wouldn't be able to afford the running costs of the car


  • #5
    unkel
    Registered Users Posts: 64,745 ✭✭✭✭unkel


    Looks like Anan1 and I are in a similar situation :D

    My last quote for the 3.5l V8 was something like €530, fully comprehensive and including business use and full NCB protection


  • #6
    Hotwheels
    Registered Users Posts: 751 ✭✭✭Hotwheels


    I was accident free for decades too, till I hit ice and it cost 4K to fix the car, a few years ago...Had fully comp with bonus protector. Insurance paid it all...

    After that I though the extra 70 quid I was paying was cheap...get it if your car is fairly new...

    CrowdedHouse wrote: »
    What's your thoughts on paying extra for NCB protection ?

    I just got my renewal the other day and was looking at the breakdown.
    My net cost is €550 but I notice that the base premium is over €1400 :eek: before the various discounts etc are applied.

    At the moment there is step back on it,which in the event of a claim would cut my NCB from 50% to 20% so it would be a fairly saucy renewal amount if I had a claim.

    Full Protection would make my premium €620 odd,which just to me makes my insurance seem very expensive.

    I'm accident free for decades and not planning one :D


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  • #7
    ninty9er
    Registered Users Posts: 9,366 ✭✭✭ninty9er


    Both my parents have it. My dad's insurance went up a 20 quid for that and various additions and my mam's up €150 for it because I'm on the policy.

    My dad's €298 but €275 is the base cost of insurance with Hibernian (i.e lowest possible premium) and that includes legal fees, full NCB protection and personal injury in transit.

    Definitely worth having. 2 at fault claims allowed in a 3 year period with no loss of no claims.


  • #8
    Ta me anseo
    Registered Users Posts: 234 ✭✭Ta me anseo


    Just remember that with many companies, no claims bonus discount protection is only that. If you had 60% bonus before an accident you will have 60% afterwards too but this doesn't mean you will be paying anything like the same premium. Your basic premium may well increase significantly following an accident ad your 60% or whatever then taken off the new sum.

    Many people take it to mean that their insurance will not go up following a claim. In almost all cases it will, and sometimes significantly.


  • #9
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,617 Mod ✭✭✭✭Henry Ford III


    MYOB wrote: »
    Insurance on your insurance - I find the very idea disgusting and would refuse to pay it on that basis....

    I hope you never make a mistake driving in that case. Mere mortals often take NCB protection as it's good value for some.


  • #10
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,600 Mod ✭✭✭✭L1011


    Henry Ford III wrote: »
    I hope you never make a mistake driving in that case. Mere mortals often take NCB protection as it's good value for some.

    If I make a mistake, I'll take the hit. I find the very idea of selling insurance FOR insurance to be immoral - what the hell is the original insurance for in that case? How long until someone offers protection against your protection being removed?


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