Difference in types of NCD protection

deaglan169

my insurance is due for renewal shortly and i will have 4 years ncd, ive never bothered to protect this in the past and i know some companies wont offer protection untill you have 5+ years, but what is the difference in partial and step back and full

Padraig Mor

Step back means if you have a claim, your NCB will, eh, step back - i.e. you lose some years of your NCB (often two, sometimes three years). Full NCB protection means if you have a claim which meets the criteria*, you will lose no NCB, i.e. you keep the NCB you have. Not sure about partial - it's probably step back. Note that just because your NCB isn't affected, doesn't mean your premium won't be - someone with a claim will naturally have their discount applied to a a higher base premium than someone without a claim.


* qualifying claims differ between companies, but generally go along the lines of "you can have XXXXXX claim/s in the preceding three year period without losing your NCB". My policy allows me one unlimited value claim. Other policies allow two claims, capped at a total of €10k.

Mr Benevolent

Keep in mind that some companies will protect your NCD but if you try to change companies they'll give you an NCD cert saying you've got the stepped-back amount of NCD, i.e, 2 or 3 years less.

si_guru

Confab wrote: »

Keep in mind that some companies will protect your NCD but if you try to change companies they'll give you an NCD cert saying you've got the stepped-back amount of NCD, i.e, 2 or 3 years less.

But they would have to provide a letter saying you had been insured for X years without making a claim should you ask.

This is useful for those times when you re-insured yourself as a new policy with your exisitng company to get more discount.. i.e. your NCB gets reset to the "maximum" needed rather than the actual years you had.

deaglan169

so is it worth it at all..

maidhc

deaglan169 wrote: »

so is it worth it at all..

yes