Car insurance abroad (driving in Ireland)

info13

Hi all,

Just wondering with the current excessive car insurance quotes been throwing around is there anything to stop me buying my car insurance abroad but using the car in Ireland full time?

Would it have to be EU only? Anybody have any experience with this if so what company used etc..?

Thanks.

seandurcan1966

In this country, an insurance company needs to have an office in this country in order to be able to sell insurance. I read that somewhere in the last 12 months. I was looking for exactly the same thing.
The rules of the EU were you could get insurance from any country in the EU and it was valid, but since Insurance companies are corrupt in general and have bought have politicians, the rule to have an office here was brought in.

El Gato De Negocios

seandurcan1966 wrote: »

In this country, an insurance company needs to have an office in this country in order to be able to sell insurance. I read that somewhere in the last 12 months. I was looking for exactly the same thing.
The rules of the EU were you could get insurance from any country in the EU and it was valid, but since Insurance companies are corrupt in general and have bought have politicians, the rule to have an office here was brought in.

So much misinformation in one post.

seandurcan1966 wrote: »

In this country, an insurance company needs to have an office in this country in order to be able to sell insurance.

False.

An insurer in an EU member state is free to set up an office in Ireland under freedom of establishment or they are free to sell insurance policies in Ireland without having a base of operations here under freedom of services.

seandurcan1966 wrote: »

The rules of the EU were you could get insurance from any country in the EU and it was valid, but since Insurance companies are corrupt in general and have bought have politicians, the rule to have an office here was brought in.

False.

There is no such rule.

Insurance companies arent corrupt.

Politicians have not been bought.

Any insurer in an EU member state can sell their products in Ireland, the only real rule around this is that they are regulated by the relevant regulatory body in the home state eg the CBI in Ireland.

There are a couple of reasons why EU insurers choose not to write policies in Ireland. The language barrier for one. Insurers would be compelled to translate all of their policy documents and wordings into english as well as having fluent English speakers in their employ to service these customers.

The main reason however is the cost of claims in Ireland. An average claim will cost an insurance company up to 10 times more if it were to happen in Ireland than on the continent so why would they risk losing their shirt for a handful of policies, it makes zero business sense.

Del2005

A quote from a company in Europe would be based on our risk profile not their risk profile so there won't be any savings.

We've had to bail out some European insurance companies that did enter our market.

Eggs For Dinner

If EU Insurers want to sell policies here, they usually do it through underwriting agencies already based here and premiums charged reflect the environment here. An insurer is not going to sell policies directly from an overseas base, mainly due to the difficulty in handling claims. i.e. assessing repairs, interviewing drivers, arranging medicals, inspecting locus, liaising with solicitors.