No Claims Discount

[nickymanley]

My car was broken into on the weekend and my CD stereo was stolen as well as 5 CD's and personal belongings. The CD player was worth �150 when bought in 2001. My insurance company will replace the stereo like for like but this would affect my No Claims Bonus (10 yrs). I have a protected NCD though so if I was to not claim again this year or twice more in the next 3 years my NCD would not be affected. I really don't know if it is worth my time to claim though as it's a relatively small claim. Any advice?

[rja211077]

what's the excess?

[spammylou]

I've always found it to be not worth it. For the same reason I don't bother protecting my NCB as they still put your premiums up regardless. Excesses normally make it pointless claiming for things like stereos. After all, you can pick them up so cheaply now, but it depends how much it costs you to replace your other stuff.  Sorry to be so blunt but I think insurance companies have you over a barrel every time.

[kazza12345]

even if you have protected no claims, your premium will still go up for having had a claim, and they will always ask you about them

[Jay70]

I totally agree with Spammylou and Kazza.  Someone I know with protected NCB put in a claim thinking their next premium wouldn't be affected but it was.  It seems protected NCB only protects a percentage of what your insurance premium will be increased by if you make a claim. 

[nickymanley]

Thanks for everyone's advice. I don't think there is an excess for the stereo - but can't confirm as the insurance company haven't phoned or returned my call!!!! I think I'll probably give the claim a miss as it is relatively minor compared to a crash or a car theft. Such a pain in the backside though!!!