According to one car insurance comparison website, a large proportion of UK motorists are just saying no when it comes to their No Claims Discounts, choosing not to spend extra money in order to protect their discounts in the event of an accident.
Some research finds that drivers who do choose to cover their motor car insurance policies in this manner could save as much as nearly £100 a year in the event of an accident, as the average motorist’s insurance increases by approximately that amount after a claim. However, there are many who feel the extra expenditure is neither warranted nor affordable, even if they’ve racked up a NCD of four years or more.
It’s important to not get behind the wheel without first making sure that the insurance cover that you have is sufficient for your needs. For some drivers, the extra cost for no claims discount protection is approximately £30, which may seem like little enough in the grand scheme of things, but there have been reports emerging that some insurers have been pulling some rather underhanded plays when it comes to circumventing this.
In the event of an accident through no fault of your own, you can sometimes end up paying more even though you’ve purchased NCD protection. This is because car insurance companies will instead raise the price of your overall quote above its previous value while it still allows your no claims discount to be taken off the top, making the extra £30 you initially paid for the NCD protection completely useless – as the end result is that your car insurance rates have gone up anyhow.