(there is an addendum to this article – 15/02/2012 – PNCB only worthwhile for so long, states comparison website).
In theory, paying extra to protect an existing no claims bonus should mean that you escape a van insurance company’s wrath if you were to make a claim that is your fault. However, it doesn’t quite work to the full extent that you may think it ought.
Without the PNCB (protected no claims bonus) you would straight away lose two years’ no claims discount if you were to make a claim against your van insurance policy and you are the driver adjudged to be at fault. But even by paying for a PNCB, you still may incur a slight upheaval when you come to renew your van insurance, purely because of the way that underwriters assess your entire driving history. If there’s a blot anywhere recently on your copybook, it will be taken into account and your van insurance quote, though still cheaper than without PNCB, will not escape an increase outright.
Another aspect about PNCB, and why it isn’t included automatically in your van insurance when you take it out, is that you have to accrue a maximum no claims discount before you can actually protect it. At that point only is it genuinely worth adding this ancillary for a small additional fee to your van insurance quote. As it cannot be added retrospectively, i.e. after you’ve made a claim when it would have been worth it, many drivers kick themselves when they realise they’re not going to get the level of cheap van insurance they once enjoyed.
A PNCB works in the same way that you would usually be offered an introductory discount to match an existing no claims bonus if you were to compare van insurance companies and swap on the basis that you can get a cheaper premium.
If your no claims is in tact, when switching van insurance companies, you will qualify for a discount for the period you have remained claim free, otherwise you won’t
Likewise, you can protect that no claims by paying a fee when swapping as you would have done with your existing provider. If, however, you have recently been forced to claim against your van insurance, you will probably not be able to protect your no claims for a two year qualifying period. The only definitive way to check out whether PNCB is worthwhile for you and your business is to build the option into your application when you use our enquiry form and then do a similar comparison without to see what a difference it makes to your new van insurance quote.