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Motor Insurance

  • 11-03-2009 9:04am
    #1
    brettmirl
    Registered Users, Registered Users 2 Posts: 2,429 ✭✭✭


    Not sure if this is right place for this thread or not....but anyways, my motor insurance is up for renewal.

    Rang 10 insurance companies for a quote, as the renewal my current insurer went up about €150, to €750.

    The price differences were unreal! I gave everyone the same information and asked for the same benefits.

    There's about €600 difference between the most expensive and cheapest quote.

    How do the insurance companies come up with their figures?

    Quinn were off the wall - most expensive with €1072. They were most expensive last year too when I rang for a quote.

    Royal Sun Alliance came in cheapest at €463.

    Anyone else usually get such a wide ranging set of quotes for motor insurance?


Comments

  • #2
    shaca
    Registered Users, Registered Users 2 Posts: 110 ✭✭shaca


    I was ringing around today.

    Quinn direct €617.00 (up on last year)
    25 Plus €285.00

    Have never heard of 25 plus so I'm going to look into them a bit more before I snatch their hand off. That is for 2 of us fully comp.


  • #3
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    In my experience a big difference is fairly normal. Different companies will be discounting for different things and loading different cars, risks, etc. Last year when I changed my car my quotes ranged from €870 through €1300 (renewal) all the way to €1900.


  • #4
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,806 ✭✭✭GerardKeating


    mick_irl wrote: »
    There's about €600 difference between the most expensive and cheapest quote.

    But if all the prices were simular, you would be complaining about price fixing...


  • #5
    s_carnage
    Registered Users, Registered Users 2 Posts: 2,673 ✭✭✭s_carnage


    GerardKeating wrote: »
    But if all the prices were simular, you would be complaining about price fixing...

    Ah come on, a 230% difference for the exact same service is a bit Irish. Quinn must be seriously trying to make up all the money he's lost in the last year!!!


  • #6
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    As I already pointed out above, different companies load different sections of the market differently. When I got my first car I was insured by Quinn Direct as they were by far the cheapest. They were still a lot cheaper for my first renewal and a little cheaper for my next one. I then changed my car to one in a higher insurance group and their quote went through the roof. I'd barely even bother quoting my current car with them as it's in quite a high group and I'm an experienced driver so that puts me outside their normal target groups. I'd be relatively confident that if I were back to square one with my first car I'd probably be considering the Quinn Direct quote again.

    As always the moral of the story is to search for quotes every time you renew. If someone bought a TV from the first shop that they looked in and got ripped off we'd be telling them that they should have shopped around. Insurance is no different.


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