SHOPPING AROUND FOR car insurance could save up to €1,335, a survey conducted by the National Consumer Agency (NCA) has revealed.
The survey was the first undertaken since the implementation of the EU Gender Directive on 21st December 2012, and found that quotations for both genders were the same.
Quotes were received from eight different insurers in Ireland, with a quote being obtained for each of eight different driver profiles.
There was found to be a difference of up to €1,335 on third-party, fire and theft cover and up to €1,038 on fully comprehensive cover between the lowest and highest quotes for a 20-year-old student from Mayo with a full licence and driving experience of less than one year.
Another driver profile (a 25-year-old teacher from Kilkenny with a full licence for three years) resulted in a difference of up to €595 on third-party, fire and theft cover and up to €625 on fully comprehensive cover between the lowest and highest quotes.
The survey also showed that insurers, when providing a quote, did not treat penalty points in a uniform manner.
While all eight insurers provided a quotation for a driver with two penalty points, only three were willing to provide a quote for the same driver with six penalty points.
The director of research and policy at the NCA, Fergal O’Leary, said that the survey clearly showed that it was “worthwhile getting a number of quotes before buying or renewing motor insurance and we would strongly urge motorists to do so, especially younger drivers.”
To embed this post, copy the code below on your site
have your say