 |
|
|
|
when renewing your
car insurance...
[back]
Car insurance is one of the biggest areas of complaints when it comes to "rip
off Ireland". However, it's difficult to address this as a normal consumer when
it's something that you HAVE to have. By it's very nature, insurance
companies will say that everyone's case is different, and therefore, not
something that will be always easy to compare.
Here are some tips, gathered from around the web (and mostly
not Irish sites either) on things that you can follow prior to renewing your car
insurance.
-
Don't automatically renew with the same insurance company. Consumer
inertia is something all rip off merchants depend on. Insurers are supposed to
provide renewal quotes a certain amount of time before the policy expires so
that policyholders can shop around for competitive quotes. Use this time wisely.
-
Shop around, getting quotes from at least three different companies and brokers.
There are no more than 10-15 insurance companies operating in Ireland at any one
time - it's not going to be overly time consuming to get a quote from them all.
-
Don't be afraid to use the internet. We're told that costs are lower from
companies operating on the internet - particularly those with only an internet
presence. Beware of the small print here more than usual.
-
Check your annual mileage. Insurers assume you drive a certain number of
miles per year. Check what their assumption is, and if it's less, tell them.
-
Extra drivers on your policy? If they are not necessary all the time, it
can be cheaper to only insure extra drivers when they will actually use the car.
-
Increasing your excess can reduce your premiums in the UK. Ask your Irish
insurance broker or company when requesting a quote if this is possible.
-
Do you really need fully comprehensive? This is the most expensive type of
car insurance available. It is normally recommended that brand new cars be
covered by comprehensive insurance - but as always, you should consider your
needs fully.
-
Fitting immobilisers and alarms, and using a garage, can reduce premiums.
Those living in larger cities will normally have a loading imposed. Some
companies will also impose a loading if the car is not kept in a garage at
night.
-
Do you belong to a professional body? For example are
you a member of the Institution of Engineers, the
Law Society or Chartered Accountants? It may be worthwhile to call your
professional organisation to see if they have arranged any special offers with
an insurance provider. This could also be true for any other types of
organisations such as Unions or other affinity groups.
-
Check your policy and make sure you are not paying for features you don't
need. For example, many policies automatically add on and charge extra for
overseas cover. Or some policies may provide breakdown cover as part of the
policy - is this necessary if you are already a member of the AA?
-
Premium payments up front, or spread over the year? Paying over the year
may incur extra costs of financing so paying up front would save you such extra
costs. Or alternatively, many drivers cannot afford to pay the entire premium at
once and elect to pay in installments. Sometimes it can be cheaper to borrow the
money from a bank or credit union as some companies have been known
to charge finance charges of up to 20% on the installments.
We have created a page on the Value Ireland Forum for you to give your rip
off experiences when getting car insurance. You could even surprise everyone and
give us your good experiences of getting car insurance as well. Surprise us!!!
Click here for the Car Insurance Forum. Obviously all
of these points to be considered are in addition to the normal aspects of risk
that insurance companies take into consideration, and which we don't really have
much control over - unless we all can change ourselves into a mid-30's woman,
driving a 1.1L car, have perfect driving records, no claims, and live outside
major towns and cities.
To refresh your minds, these are the items that insurance
companies take into account when determining risk, and therefore premiums.
 |
Age and sex of driver. Women generally pay less than men and younger and
older drivers pay higher premiums. |
|
Type of cover desired. Comprehensive or third party |
|
Type of driving license held, and length of time. Provisional or full,
clean or endorsed. |
|
Is the insured the registered owner of the vehicle |
|
Size of engine. Insurance for a 2.0 litre engine may be more than double
the cost of insurance for a 1.0 litre engine |
|
Number of drivers to be insured - and type of license they hold. Named
drivers will be cheaper |
|
Purpose for which the vehicle will be used - personal or commercial |
|
Your occupation - people who use their car as part of their job pay more.
|
|
Previous driver insurance history i.e. any claims, length of time insured
as named driver and as sole insured.
Location risk - where the car will be parked. As mentioned above, those
with cars in cities are likely to pay higher premiums.
|
[back]
Please read our
Legal Disclaimer by clicking here.
|
|
|
|
