Change of address of car insurance

normad

Hi there.

My insurance is up for renewal shortly, and it's coming in at circa €500. My address was in Waterford, but I have recently moved to Dublin. When I put in a Dublin address (Kilmainham) my premium goes up to 1050. Is this normal? I have shopped around by the way.

I am considering just using my Waterford address, as my post will go there anyway. Would this lead to issues if an accident happened? I was thinking of saying that I normally get the train to and from Dublin so don't use the car during the week. And if something happened in Dublin I could say it was a once off that I had the car with me.

Anyone have any experience of this or similar situations?

Cheers

biko

You should use the address where car is normally stored overnight.
Various towns and areas have different "risk" as you have noticed.

If you lie on the form it can/will come back to bite you.
Anyway, this isn't the place to ask whether it's ok to "get away with it".
Follow the rules is my advice.

CiniO

biko wrote: »

You should use the address where car is normally stored overnight.

What about people who store their car in many different places without any one being the main one?

Various towns and areas have different "risk" as you have noticed.

But funny how big the difference is.
Is OP by moving to Dublin, suddenly more likely to cause a big damage to someone?

Stheno

CiniO wrote: »

What about people who store their car in many different places without any one being the main one?


But funny how big the difference is.
Is OP by moving to Dublin, suddenly more likely to cause a big damage to someone?

Could be down to a specific area. When I moved from the Midlands to Dublin my insure went down by €40

CiniO

Stheno wrote: »

Could be down to a specific area. When I moved from the Midlands to Dublin my insure went down by €40

Hmm.
That even further shows, that whole motor insurance risk calculation, doesn't really reflect the real risk.

normad

CiniO wrote: »

Is OP by moving to Dublin, suddenly more likely to cause a big damage to someone?

I'm using my car less than I've ever done so I don't see how it makes sense. And my car is in a secure car park now, much safer than it was back at home.

biko

Try a few different brokers and companies. You could get lucky as they tend to vary by a lot.

bazz26

CiniO wrote: »

What about people who store their car in many different places without any one being the main one?


But funny how big the difference is.
Is OP by moving to Dublin, suddenly more likely to cause a big damage to someone?

Surely everyone has what they consider a primary residence?

Also it's not just damage to other parties they are taking into account, statistics would show that a city the size of Dublin with a denser population would have a higher proportion of car break ins, car damage or car theft meaning more likely hood of an insurance claim. Naturally this would be reflected in the premium.

CiniO

bazz26 wrote: »

Surely everyone has what they consider a primary residence?

I have a friend, who lives in 3 different places, and none of it is his primary residence. I know that's unusual, but it happens.

Also it's not just damage to other parties they are taking into account, statistics would show that a city the size of Dublin with a denser population would have a higher proportion of car break ins, car damage or car theft meaning more likely hood of an insurance claim. Naturally this would be reflected in the premium.

Hmm.
I remember I checked quotes on one of the websites, and it came as something like 350 for third party only, 400 for TP + fire and theft, and 450 full comprehensive.

So if just for adding fire, theft, windscreen, and own car damage to my policy it costs only 100 extra, how can moving to other place in the country double the premium, even if in such region likelyhood of having car stolen or vandalised is bigger.

bazz26

CiniO wrote: »

I have a friend, who lives in 3 different places, and none of it is his primary residence. I know that's unusual, but it happens.



Hmm.
I remember I checked quotes on one of the websites, and it came as something like 350 for third party only, 400 for TP + fire and theft, and 450 full comprehensive.

So if just for adding fire, theft, windscreen, and own car damage to my policy it costs only 100 extra, how can moving to other place in the country double the premium, even if in such region likelyhood of having car stolen or vandalised is bigger.

Different insurance companies charge different prices, nobody except them knows why prices vary so much from insurance company to insurance company.

CiniO

bazz26 wrote: »

Different insurance companies charge different prices, nobody except them knows why prices vary so much from insurance company to insurance company.

One thing is for sure - prices barely reflect risk.
If they did - price for certain person with all his circumstances (address, car, driving history, etc) would be very similar with all insurers.
Fact that is it's and sometimes difference between insurers is horrendous, means that all this risk calculating is one bullsh1t, as every insurer calculates it completely different.

Stheno

Just out of curiousity I went onto my insurers site, and my insurance at my current address is 10% less than it would be if I lived in Dublin 8 which is Kilmainham.

Possibly they are classing it as a high risk area for theft etc

TouchingVirus

Back when I lived in the city centre the price difference for my car (E46 M3) between Dublin 2 and Dublin 8 was €500, with D8 being more than D2. The actual difference? Literally 10 minutes walk, across 2 streets. D8 was a secure underground car park with CCTV, D2 was on-street outside the apartment. Price difference between my old residence down the country in Longford and Dublin 8? €1200.

I guess D8 is a bit of a hotspot for claims

normad

They shouldn't rely on past claims alone. They don't take into account whether the car is parked on street or secured.

Today their reason for a dearer quite in kilmanham was more risk of flooding, theft, and break-ins. If the premium is that high for third party I would hate to see my fully comp one.

Stheno

normad wrote: »

They shouldn't rely on past claims alone. They don't take into account whether the car is parked on street or secured.

Today their reason for a dearer quite in kilmanham was more risk of flooding, theft, and break-ins. If the premium is that high for third party I would hate to see my fully comp one.

Wouldn't be that much higher tbh as most of the risk is the area you are in, flooding and breakins/theft

djimi

normad wrote: »

They shouldn't rely on past claims alone. They don't take into account whether the car is parked on street or secured.

One of the questions most of them (or all of them?) ask is where car is parked at night, so its safe to assume that it is something that is taken into account when calculating risk?

Stheno

djimi wrote: »

One of the questions most of them (or all of them?) ask is where car is parked at night, so its safe to assume that it is something that is taken into account when calculating risk?

I would suspect the overriding issue here is the area tbh

djimi

Stheno wrote: »

I would suspect the overriding issue here is the area tbh

It is absolutely. I was just replying to the comment about where cars are stored at night.

wonski

CiniO wrote: »

Hmm.
That even further shows, that whole motor insurance risk calculation, doesn't really reflect the real risk.

You might want to give them a call and ask for a job then;)

It is their calculation, their risk and their business really. If they did the whole thing wrong, they are the ones who will pay.

CiniO

wonski wrote: »

You might want to give them a call and ask for a job then;)

It is their calculation, their risk and their business really. If they did the whole thing wrong, they are the ones who will pay.

So how can you explain the fact, that every insurer has different price for the same person?

wonski

CiniO wrote: »

So how can you explain the fact, that every insurer has different price for the same person?

What kind of question is this?
Some insurers want to make money taking higher risk customers for higher premiums. At the same time they are not interested in 40yo females, with 5 years ncb driving Yaris. Nothing wrong with this. Other insurers will give same lady with Yaris 300 euro for fully comprehensive policy, but will not quote 20yo with 1.8T Passat. Makes sense to me.
There are so many channels to purchase policy these days so everyone can find policy for his needs.

CiniO

wonski wrote: »

What kind of question is this?
Some insurers want to make money taking higher risk customers for higher premiums. At the same time they are not interested in 40yo females, with 5 years ncb driving Yaris. Nothing wrong with this. Other insurers will give same lady with Yaris 300 euro for fully comprehensive policy, but will not quote 20yo with 1.8T Passat. Makes sense to me.
There are so many channels to purchase policy these days so everyone can find policy for his needs.

No...
What I mean is this.
I quote with insurer A and they offer me a premium of 500 euro.
I quote with insurer B and they offer me a premium of 2000 euro.

Then my wife quotes with insurer A and they offer 1500 euro premium.
Next she quotes with insurer B, and they give her 300 euro premium.

So in insurer's A eyes, I'm much lower risk than my wife.
But according to insurer B, my wife is lower risk then me?

So who is right?
At least one of those insurers must have calculated risk wrongly, don't you think?

djimi

Has the above scenario ever happened to you, with such wildly varying numbers?

wonski

CiniO wrote: »

No...
What I mean is this.
I quote with insurer A and they offer me a premium of 500 euro.
I quote with insurer B and they offer me a premium of 2000 euro.

Then my wife quotes with insurer A and they offer 1500 euro premium.
Next she quotes with insurer B, and they give her 300 euro premium.

So in insurer's A eyes, I'm much lower risk than my wife.
But according to insurer B, my wife is lower risk then me?

So who is right?
At least one of those insurers must have calculated risk wrongly, don't you think?

No, I don't think so. They have different criteria. For A you are worth a shot, while insurer B doesn't want your business.
You can compare it to banks, where one will offer you 5000 euro credit card on 12%, while another offers you 500 limit on 18% per annum.
It is their risk, and it is their business. This at least gives you a chance to shop around and get a good deal.

Peter McDonald

You must fill out your insurance documentation honestly ("in good faith").

If you fail to do this, the insurance contact is not legally binding.

I work in the industry myself and come across this occasionally.

You may not find out that your insurer will not honour the contract until you make a claim.

Peter McDonald

Peter McDonald wrote: »

You must fill out your insurance documentation honestly ("in good faith").

If you fail to do this, the insurance contact is not legally binding.

I work in the industry myself and come across this occasionally.

You may not find out that your insurer will not honour the contract until you make a claim.

Goid on ya Peter but that was 4 years ago. Who knows where the op lives now

bazz26

zombie thread resurrectors are coming out of the woodwork today. :pac:

masterboy123

My insurance went up by 550e when i moved to Limerick city.
Better to pay insurance company and update the address.