The choice whether to get a claims protected car insurance policy is one of those ‘What if’ questions we’re constantly greeted with. Should you get insurance for that mobile phone in case you break it? We can’t see the future so the choice is usually made based upon if you foresee an accident happening. The same scenario is applied when deciding if a claims protected policy is for you.
A claims protected insurance policy is something you can’t even consider unless you’ve been driving on the road for at least five ears. Every 12 months an insurance policy has to be renewed and if you haven’t claimed anything you will be offered a discount by your insurance provider. If you carry on like this for five years you will be then offered a new claims protection – this however comes at a cost. The argument for getting a claims protected insurance policy is the amount your premium will rise if you do have an accident.
Different companies offer varying car insurance quotes with different prices for covering your car and a no claims discount protection plan. This is based on you and catered towards your driving history, age, car etc… so it’s important to research who is offering what before signing up to an insurer.
Going down a figures route Moneysupermarket claim that with claims protected car insurance if you do make a claim your premium will only go up by 18% the following year opposed to 73% if you don’t have it.
However, there’s a curve ball when deciding if you should go down this route. Obviously the above figures would be an argument for choosing to get it, but if you get it and don’t claim for four years based on average costs of a no claims discount protection you would end up paying more for that than you would for the premium increase in your tenth year of cover.
Obviously these are all based upon stats, which is why it’s important to use a site like uSwitch to compare the offers for your personal situation. Looking at your history of claims is something to take into consideration as well as your driving etc… but it’s essential to remember that sometimes just because you’ve never made a claim, every day on the road is different, and what level of cover do you imagine you will need?