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Car insurance in this country is beyond a joke

13-07-2016 6:51pm

#1

jaxxx

Registered Users, Registered Users 2 Posts: 3,230 ✭✭✭

Join Date: September 2009

Posts: 3088

Last year: €500. Got a quote today: nearly €900. Went shopping online. All quotes over €1000, with one quote even €3000! It is an absolute disgrace what the state of car insurance in this country is. It is absolutely ludicrous. I don't know the ins and outs of the politics and laws governing car insurance here, but sweet jesus this cannot surely be allowed continue??

My car has an alarm and all mod cons. It spends its nights in a garage in the countryside. It's as far from a Ferrari as can be.

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Comments

#2 14-07-2016 11:39am

HanaleiJ5N

Closed Accounts Posts: 335 ✭✭

Join Date: November 2015

Posts: 319

An increasing amount of people will just say screw it and take the chance if this goes on, it's getting worse and worse. My father, a sales rep on a 2 year old car with no points and over 30 years claim free driving received his renewal letter from FBD this week, they've hit him with a 250% increase.....

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#3 14-07-2016 11:44am

thebiglad

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Posts: 1655

Been covered so many times - just look at the Indo or Irish Times most days to see the lottery winning type payments made by the courts (and they are only the reported cases) - add to that another 60% for legal costs.

Not a motor incident but typical court action (and driving up costs in Ireland in general) http://www.boards.ie/vbulletin/showthread.php?t=2057619131

Sure, motor insurance is expensive and will verge on unaffordable for something that is so essential but when a basic whiplash per PIAB exceeds €20k that means at your premium the insurer must sell 40 policies just to cover the cost of the claim - this takes no account of staff and infrastructure costs or a profit element.

How many 40+-1 punts do you take.

Until costs of damages or propensity to claim is reduced premiums will keep on rising.

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#4 14-07-2016 11:56am

dr.fuzzenstein

Banned (with Prison Access) Posts: 16,620 ✭✭✭✭

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Posts: 16479

And right now it's not just the "normal" €20k payout for a bit of a sore neck, sadly judges have now completely snapped and are awarding between €200 and €500k for the same, with legal costs into the hundreds of thousands as well.
http://m.independent.ie/business/personal-finance/bruton-tackles-judges-on-big-injury-claims-payouts-34595947.html

So I'm afraid we will have to get used to the idea of the average motor insurance policy to go past a grand. Yep, sub 1000 euro car insurance will be a thing of the past within the next 2 years. Queue the usual cheerleaders for our compo culture to crash this thread in 3...2...1...

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