Now Ye're Talking - to an expert on young drivers’ insurance

Barry Badrinath

dunworth1 wrote: »

i would take a guess that its the engine size

Thats mad,

Im paying €800 with another insurer. You reckon Liberty are quoting an extra few hundred because its a 1.9?

sunshine and showers

Hi Michael, I know insurance premiums have risen in the last year, but my renewal quotes are over a 100% increase! I'm 25 this year, so if anything had expected a decrease.

I'm female, have a full Irish licence 6 years and have 6 years no claims (5 fully in my own name). Zero penalty points. I drive a 1L 2008 Micra in Dublin city. I'm being quoted €800-1000 for just third party, when I got fully comp for €450 last year!

B00MSTICK

Hi Michael,

Without going into specifics, how often is insurance fraud reported in general?
Plenty of peole are still using the "Drive other cars" loophole it seems.
Do you think there is any solution to the current crisis? It seems like more people (especially young drivers) are willing to take the risk of driving uninsured...

Eric Cartman

Senor Fancy Pants wrote: »

What do Liberty deem as an "ideal" car and driver profile?

Can you tell me what part of the below details justifies a €1,126.44 quote for TPFT.

36 yo male
Based in South County Dublin
Public Sector
Driving 16 years
Full licence 11 years
Full NCD
No claims ever
No accidents ever
No penalty points ever
Low mileage
04 reg 1.9 diesel
Advanced driving courses

Which part of that list shoots a quote over the €1k mark and why?

just 2 things. Are you in D22 / D24 or a place very close to D22 /D24. Tallaght and clondalkin are hotbeds of car theft and damage, and while in general SCD is considered good , there will definitely be a loading for these and closely surrounding suburbs.

1.9 Diesel, is it a VAG (VW/Audi/Seat) car perchance ? . Hondas/Subarus/Mitsubishis used to be popular with the "mad lad" brigade. They have now moved on to Golfs/A4's/Passats etc… so a lot of cars with the 1.9TDi VAG lump in it are being loaded up because of these knobs.

Francie Barrett

What are the cheapest cars for a learner to get insured on?

Agent Smith

Liberty Insurance: Michael wrote: »

If you’ve received a quote that's higher than you can afford, you can look at ways to reduce your costs, including:

· passing your driving test
· taking a lower level of cover e.g. reducing cover from Comprehensive to Third Party Fire & Theft or removing optional covers such as windscreen cover or breakdown assistance (if optional with your insurer)

Kinda need to practice before i can pass the test.....


Do Liberty want people who can pass a test, but have no experience?

Barry Badrinath

Eric Cartman wrote: »

just 2 things. Are you in D22 / D24 or a place very close to D22 /D24. Tallaght and clondalkin are hotbeds of car theft and damage, and while in general SCD is considered good , there will definitely be a loading for these and closely surrounding suburbs.

1.9 Diesel, is it a VAG (VW/Audi/Seat) car perchance ? . Hondas/Subarus/Mitsubishis used to be popular with the "mad lad" brigade. They have now moved on to Golfs/A4's/Passats etc… so a lot of cars with the 1.9TDi VAG lump in it are being loaded up because of these knobs.

No to the first one, yes to the second (A4). True, plenty of mad lads own A4's but even when I had an A6, Liberty were quoting 20-30% higher than anyone...

Still cant see the justification in €1k+ quote but I will let Liberty let us know what I would need to do to lower the quote.

I presume it will simply be..."drop the engine size" or some bollox like that.

We cant all be 55 year old accountants who work from home, travel 1,000 km per year with 35 years full licence, no claims, no peno points, 4 Padre Pio stickers in a 1L Micra.

Ridiculous carry on.

Satriale

Is this an ama, or an advert for an insurance company?

Gloomtastic!

Satriale wrote: »

Is this an ama, or an advert for an insurance company?

I prefer to think of it as a public flogging.... :rolleyes:

Supermensch

Satriale wrote: »

Is this an ama, or an advert for an insurance company?

It actually seems to be more of a big communal rage-****.

1hnr79jr65

For an AMA there is very little if all being answered and the bits being answered are being cherry picked.........

Bit disappointing that this is happening tbh

kupus

A bit of a stupid quests but what's the point of insurance if a lot of people can't afford it.
A lot of people find it hard to pay for a 10-15 year old car. And then insurance co won't even insure them then. And if they do insure the price is often mad.

Renegade Mechanic

Sour Lemonz wrote: »

For an AMA there is very little if all being answered and the bits being answered are being cherry picked.........

Bit disappointing that this is happening tbh

Well to be fair I wasn't actually expecting an answer to mine

Liberty Insurance: Michael

Kilough wrote: »

Hi,

I'm a 29 year old and you won't even quote me on a BMW 320d MSport (2010) with factory spec. I've got 6 years no claims, full license for 9 years. What's the deal? I find this strange as I don't think I should be considered a 'young' driver anymore. Or should I? I always thought the cut off point was when you hit 25.

Hi,

As a genral rule you should see some reduction in your premium after five years if you haven't had any claims and have driving experience which you've pointed out that you have. Things that can affect this, however, would include any convictions or penalty points you might have picked up.

When an insurer like Liberty is assessing an application for insurance, we look at the profile of the driver and importantly also the car and unfortunately the overall profile in this instnace falls outside of our acceptance criteria

Liberty Insurance: Michael

dunworth1 wrote: »

i would take a guess that its the engine size

Hi,

It’s good to know what type of car you should be looking to buy if you want to get insurance. The following factors will often reduce the likelihood of you getting insurance, but it will also depend on you own personal details.

• Very old cars
• Cars with modifications - especially performance enhancing modifications
• High powered cars
• Cars that have been previously written off

In relation to the ideal driver profile. At Liberty insurance our acceptance criteria is broad and we provide quotes for applicants of all ages, however, and assuming you are a young driver, an attractive profile would hold the following;

• Full licence
• Driving experience i.e. NCD in your own name or named driving experience
• No penalty points, claims or convictions

dunworth1

Liberty Insurance: Michael wrote: »

Hi,




[*]High powered cars

whats considered a high powered car? anything over 1/1.4L?

Liberty Insurance: Michael

sunshine and showers wrote: »

Hi Michael, I know insurance premiums have risen in the last year, but my renewal quotes are over a 100% increase! I'm 25 this year, so if anything had expected a decrease.

I'm female, have a full Irish licence 6 years and have 6 years no claims (5 fully in my own name). Zero penalty points. I drive a 1L 2008 Micra in Dublin city. I'm being quoted €800-1000 for just third party, when I got fully comp for €450 last year!

Hi,

I know how annoying this can be and personally know people who have experienced similar increases at renewal.

Premiums in the market over the last number of years (2005 - 2014) have been extremely competitively priced. The average premium in the market from 2001-2004 was approx €850 and due to intense competition in the market from 2005 - 2014 average premiums reduced to levels as low as €450.

The challenges the insurance industry faces right now are pretty demanding. We have to cope with increasing frequency of claims and also a higher average cost per claim. All of this results in higher premiums and this has been reflected with premium increases over the last 24 months in particular

I would suggest contacting your insurer to discuss your renewal offer and to see if there is anything you can do to reduce your cost further

Liberty Insurance: Michael

sydthebeat wrote: »

Hi Michael

would you concede that most insurance companies would choose to pay out smaller claims ie less than €10k ish in out of court settlements rather than risk court costs in a lost case.... EVEN IF your insured client is 100% in the right in the situation.
and would you also concede that should the client choose to fight the case in the courts, your indemnity is withdrawn from them?

and would you concede that situations like these are a significant part of the reason insurance premiums have risen on average 70% in the last 3 years?

Hi,

At Liberty Insurance we investigate the validity of all claims prior to making any settlement offer.

If we believe we hold no liability we will not make any settlement offers, if we hold any percentage liability we will make offers and pay a reasonable and fair sum based on our % liability share.

We keep our clients at the forefront of our claims process and updated on our position at all key stages during the lifecycle of a claim.

We cannot comment on the practice of other insurers in relation to rising premiums but would point to a number of factors contributing to this, to include and not limited to, increased frequency, increased awards from the Injuries Board and increased court awards.

Liberty Insurance: Michael

Jamiered wrote: »

Hi Michael,

Isn't is true that Liberty Insurance, by targeting young drivers are now resurrecting the successful Quinn Direct model of insuring young drivers, why did Liberty move away from this in the first place?

Also, if Liberty are targeting young drivers, the premiums are going to be very high, so how do Liberty think that young drivers are going to take out insurance for gadgets and all sorts.

Surely, at this stage, Liberty need to realise that young drivers just want basic insurance cover and lower premiums.

Hi,

As the market leader for young drivers in Ireland we want to provide access to a unique suite of insurance products designed with the needs of younger people in mind, including affordable car insurance, renters cover plus access to travel and gadget insurance.

We carried out research in conjunction with Millward Brown and 77% of 17-29 year olds said they would like to have all of their insurance with the one provider.

The findings showed that this younger audience have lots of “stuff” that they want to insure and can be found here: https://www.libertyinsurance.ie/blog/car-n-stuff-launch/ .

In terms of basic cover, we want our customers to have the best protection possible in the event of a claim so that’s why we are providing a suite of options.

Liberty Insurance: Michael

the beer revolu wrote: »

Why do insurance companies cover people with provisional licences when driving without an accompanying licenced driver?

Hi,

It doesn’t matter how long you have been driving and how many learner permits you have held - you must be accompanied.

Also, the person who’s with you must hold a full driving licence for the category of vehicle you are driving for a continuous period of 2 years.

This is a serious issue because if you don’t comply with the rules of your licence, then your insurance may be invalid.

You don’t have to name the accompanying driver on your insurance, but it would make sense to do so as you may need them to take over driving for you. This way, you can make sure they are fully covered.

Liberty Insurance: Michael

B00MSTICK wrote: »

Hi Michael,

Without going into specifics, how often is insurance fraud reported in general?
Plenty of peole are still using the "Drive other cars" loophole it seems.
Do you think there is any solution to the current crisis? It seems like more people (especially young drivers) are willing to take the risk of driving uninsured...

Hi,

Fruad is a growing problem in Ireland. Fraud claims affect the premium of every honest insurance cutomer in the country. We are committed to aggressively challenging fraud claims and throughly investigating all aspects of suspicious claims.

Insurance fraud is a serious issue for the industry; we will continue to invest in the prevention and detection of fraud, to protect our genuine customers and keep premiums afforable

Daniel S

Any chance you'd update your online quotes database?

Every car I put in tells me to ring you, from a Toyota Yaris to Volvo S60. These aren't modified and are under 15 years old. I'm currently a Liberty customer just after renewing last Friday.

Liberty Insurance: Michael

dunworth1 wrote: »

whats considered a high powered car? anything over 1/1.4L?

Hi,

In general the engine size of a vehicle does not in itself determine if the vehicle is deemed high powered. Other factors are also considered, including break horse power, spec and any modifications.

At Liberty our acceptance criteria also takes in to account the drivers experience and licence type when considering proposals for high powered vehicles

Hellrazer

Hellrazer wrote: »

Michael,

Its great that Liberty insure cars up to 20 years old but I have to ask do you apply a loading on cars between 14 - 20 years old?

Heres an example that I personally have tested with various insurance companies that wont insure / apply a loading on vehicles over 14 years old.
2 Ford Focus cars.
1st one registered in December 2001 - so "technically" 15 years old as 11dxxxxx
2nd one registered in early January 2002 12dxxxx so "technically" 14 years old.

The first one of these I was quoted almost 50% extra for despite being registered only 2 weeks apart.Some companies wouldnt even quote for the 1st car.
So I put it to you-how can a car registered 2 weeks earlier be 50% less safe.It makes no sense at all.

Both cars NCT`d , both the same spec.Even down to the same colour.If I swapped the plates around you wouldnt be able to tell the difference.

I also put it to you that this is not about safety or "older" cars costing insurance companies more but is purely a money making exercise and nothing else.

Michael
Just quoting this again in case you missed it.

Liberty Insurance: Michael

Francie Barrett wrote: »

What are the cheapest cars for a learner to get insured on?

Hi,

Unfortunately, it's impossible to say what is the cheapest car to insure as there are many factors that make up the price.

In general, however, you should look at cars with lower powered engines, with no modifications.

Also bear in mind that cheaper older car may not always be the cheapest to insure, and some insurers will not insure vehicles over a certain age.

Liberty Insurance: Michael

Hellrazer wrote: »

Michael
Just quoting this again in case you missed it.

Hi,

Apolgies for the delay in responding

I'm afraid there is no simple answer to this as it will vary from insurer to insurer and your own personal details, along with the age of a car can affect the price.

Insurance companies set their prices at a level that covers the risk based on their own experience. If an insurer has a poor experience with a certain type of risk their prices may be higher for this. Also if claims costs or market conditions change for a particular segment of the market then this can lead to an increase in the price

Special Circumstances

Supermensch wrote: »

It actually seems to be more of a big communal rage-****.

You say it like it's a bad thing :pac: :mad::mad::mad::mad:




I too would like to know what constitutes
1)very old
2)high powered (or even moderately powered for those who regard a 1.9tdi as WMD)

Liberty Insurance: Michael

Daniel S wrote: »

Any chance you'd update your online quotes database?

Every car I put in tells me to ring you, from a Toyota Yaris to Volvo S60. These aren't modified and are under 15 years old. I'm currently a Liberty customer just after renewing last Friday.

Hi,

Would you mind PM me or the Liberty Insurance forum on boards.ie your details and we will arrange for someone to give you a call to discuss and deal with your query

We will also raise with our website team to ensure the online quoting functionality is working as it should be

Our apologies for any inconvenience caused

Regards,
Michael.

Liberty Insurance: Michael

Renegade Mechanic wrote: »

I'll take that.

It's because the worthless bonds they - and most other insurance companies - gambled their already substantial profits on, in the name of more substantial profits, turned out to be, well, erm... worthless...
So now the common person must pay because they sure as all hell aren't going to

Which leads me to my question - how much more are you lot going to load on the common person, just because you greedily gambled your profits on the bond market?
And how much longer do you reckon you can get away with it?

(Note: I'm aware you're just a representative, etc etc....)

Hi,

The challenges our industry faces have been very well covered by the media in recent times, from increasing frequency and cost of claims to impaired profitability. Inevitably, all of these factors contribute to higher premiums for the consumer. That said, however, we are working hard at Liberty to limit the impact that the market price increases have on our customers.

Although we have applied increases this year, we believe them to be lower than many of our competitors, and expect that we will continue to be competitively priced.

Regards,
Michael.

omb0wyn5ehpij9

Hellrazer wrote: »

Michael
Just quoting this again in case you missed it.

Liberty Insurance: Michael wrote: »

Hi,

Apolgies for the delay in responding

I'm afraid there is no simple answer to this as it will vary from insurer to insurer and your own personal details, along with the age of a car can affect the price.

Insurance companies set their prices at a level that covers the risk based on their own experience. If an insurer has a poor experience with a certain type of risk their prices may be higher for this. Also if claims costs or market conditions change for a particular segment of the market then this can lead to an increase in the price

Hellrazer has asked specifically how it works with Liberty, and you have given him another wishy-washy answer.

From reading this thread, I view Liberty in an even worse light than before I read it. It is very apparent that you do not want to answer any remotely difficult questions. You have given a number of "answers" which are just complete corporate rubbish and it illustrates the ridiculous quotes which people get for standard cars.

Edited to add: The above is not a personal dig at you Michael as I understand this is your job and you are only allowed say so much on here by your managers. The above was based on Liberty as a whole.