sep11guy: hmmmmm.

its kind of a tough decision. how about if i approach this from another angle.

at what % cost of repair of the car, do you think it would be wise to fix your self and above that %, you would claim.

say for eg, if car cost $20, you can say if its above x$, i would repair thru insurance, and if its below x$, i would do it myself.

would this be a good way of looking at this ?

Not really. If it were me, I would look at it like this. I pay $1000 per year for my insurance and I have a 50% NCB therefore the base premium is $2000. If we assume (for simplicity) that the base premium remains at $2000 each year (in reality, it probably increases, and your sum assured decreases so who knows?). I'll also assume that after claiming, NCB will reduce to 30% for next year, 40% the year after and back to 50% after that. From there, it might go up to 60% and even 65%...

Premiums (with claim, without claim):

- Year 1: $2000 * (1 - 30%) = $1400, $2000 * (1 - 60%) = $800
- Year 2: $2000 * (1 - 40%) = $1200, $2000 * (1 - 65%) = $700
- Year 3: $2000 * (1 - 50%) = $1000, $2000 * (1 - 65%) = $700
- Year 4: $2000 * (1 - 60%) = $800, $2000 * (1 - 65%) = $700
- Year 5: $2000 * (1 - 65%) = $700, $2000 * (1 - 65%) = $700