Rip off insurance

Owryan

I've always found liberty quotes out of whack with others I be gotten.

My renewal this year for an 07 1.4 ford focus fully comp was 540. Most quotes I got were between 7-800. Liberty wanted 1900.

kaymin

jay1988 wrote: »

Any proof to back up this accusation?

https://www.google.ie/amp/s/www.rte.ie/amp/887661/

The investigation has yet to be completed but they're just investigating what every reasonable person knows has been happening for a long time.

Liam McPoyle

kaymin wrote: »

https://www.google.ie/amp/s/www.rte.ie/amp/887661/

The investigation has yet to be completed but they're just investigating what every reasonable person knows has been happening for a long time.

Those raids focused on insurance brokers and was primarily concerned with motor fleet for haulage.

Insurance brokers do not set rates or premiums.

kaymin

Business Cat wrote: »

Those raids focused on insurance brokers and was primarily concerned with motor fleet for haulage.

Insurance brokers do not set rates or premiums.

That's not correct. In fact the article specifically states:

'However, Brokers Ireland, which represents around 1,200 insurance brokers across the country says none of its members have reported any raids today.'

Also Fiona Muldoon was quoted as saying FBD no longer announces price changes for fear it could be perceived as encouraging competitors to do likewise.

Liam McPoyle

kaymin wrote: »

That's not correct. In fact the article specifically states:

'However, Brokers Ireland, which represents around 1,200 insurance brokers across the country says none of its members have reported any raids today.'

Also Fiona Muldoon was quoted as saying FBD no longer announces price changes for fear it could be perceived as encouraging competitors to do likewise.

I've worked in the insurance industry for almost a decade.

I personally know and have spoken to people that also work in the insurance industry whose offices were raided.

So who do I believe?

You, or myself.

Bit of a conundrum that one.

kaymin

Business Cat wrote: »

I've worked in the insurance industry for almost a decade.

I personally know and have spoken to people that also work in the insurance industry whose offices were raided.

So who do I believe?

You, or myself.

Bit of a conundrum that one.

Believe what you want.

Here's Fiona talking about motor premiums and the anti competition probe.

https://www.google.ie/amp/s/www.irishtimes.com/business/financial-services/fbd-chief-fiona-muldoon-driving-the-insurer-into-a-new-age-1.2995321%3fmode=amp

Also the article referred to above which you clearly haven't read is titled 'irish-based motor insurers raided by EU Commission'. The first paragraph is:

'The European Commission has carried out unannounced inspections at the offices of a number of Irish-based insurance providers as part of an investigation into alleged price fixing relating to motor insurance premiums.'

You and your colleagues are mis-informed.

Also you have stated the investigation is focusing on brokers and brokers don't actually set the premiums. So what do the competition authorities hope to achieve investigating brokers?

Gonad

Patww79 wrote: »

Nearly all the companies will have set out the prices between each other, so there's never much point in shopping around when it comes to insurance.

That’s not true

I am with liberty insurance . Mine was little over 1000 last year . Was getting quotes of 3000 -4000 of some other companies. Always shop around

Liam McPoyle

kaymin wrote: »

Believe what you want.

Here's Fiona talking about motor premiums and the anti competition probe.

https://www.google.ie/amp/s/www.irishtimes.com/business/financial-services/fbd-chief-fiona-muldoon-driving-the-insurer-into-a-new-age-1.2995321%3fmode=amp

Also the article referred to above which you clearly haven't read is titled 'irish-based motor insurers raided by EU Commission'. The first paragraph is:

'The European Commission has carried out unannounced inspections at the offices of a number of Irish-based insurance providers as part of an investigation into alleged price fixing relating to motor insurance premiums.'

You and your colleagues are mis-informed.

Also you have stated the investigation is focusing on brokers and brokers don't actually set the premiums. So what do the competition authorities hope to achieve investigating brokers?

So people that were working in some of the offices that were raided are misinformed?

But you, with zero knowledge other than what Google tells you, should be believed?

On that unfathomably stupid notion I'll leave it there.

kaymin

Business Cat wrote: »

So people that were working in some of the offices that were raided are misinformed?

But you, with zero knowledge other than what Google tells you, should be believed?

On that unfathomably stupid notion I'll leave it there.

You know nothing about my background. Why don't you answer the question I asked? - I'd say you're afraid of the answer!

From the CCPC:

CCPC issues summonses to motor insurance providers

The Competition and Consumer Protection Commission (CCPC) has today issued witness summonses and information requests to major motor insurance providers and industry groups representing insurers and brokers.

The CCPC is currently investigating suspected breaches of competition law in the motor insurance sector. The investigation relates to industry participants openly signalling up-coming increases in motor insurance premiums in the State.

According to Isolde Goggin, CCPC Chairperson, “Markets work best where businesses vigorously and independently compete against each other for customers. Statements signalling future pricing predictions or intentions may result in a degree of unspoken coordination, which may breach competition law. Statements by senior industry players have raised serious suspicion as to whether there is a link between these messages and subsequent price increases. The evidence collected through both the witness summonses and the information requests will assist us in establishing whether there has been a breach of competition law.

The CCPC has been monitoring the motor insurance industry and we know from our contacts with consumers that the sharp rise in motor insurance premiums has had a significant impact on them. We continue to closely monitor developments and will, if necessary, take action to stop specific anti-competitive practices in the motor insurance sector.

If anyone believes they have evidence of a breach of competition law in the motor insurance sector we would ask them to contact the CCPC.”

Fanny Wank

kaymin wrote: »

If anyone believes they have evidence of a breach of competition law in the motor insurance sector we would ask them to contact the CCPC.

I've posted similar on here many, many times. However I think they're looking for actual evidence not hearsay, speculation and sh!te you heard from someone in the pub

While they're at it maybe investigate petrol retailers, you often hear them flag future price increases when the cost of oil increases

firstlight

Sorry i havent been online in a few days
Still quoting around for insurance
Nearly 2400 From axa latest one
Spoke to fella on the phone and he basically told me i should buy a new car
He said the insurance companies are looking into this
Like i believe that
Will let you know as soon as i get something sorted
Will keep updating

Cheers for input

firstlight

AXA MotorFirst Standard
Total: €2038.04
More Details
AXA MotorFirst Plus
Total: €2090.54
More Details
KennCo Unique
Total: €2980.03
More Details
ARB Elite
Total: €4871.15
More Details
ARB - Non-Standard Private Car
Total: €5774.22

Few more quotes,Getting more tastey

firstlight

Well to close this thread
I was able to get my car insured,although it was a much cheaper quote than most i still feel it is way way way to expensive
I can say that Gallivan Murphy Hooper Dolan Insurances were the cheapest by miles
So if your struggling chance them,its up to you

1175 Euro Through Allianz insurance my 3rd year with this company
Thanks for any feedback received

dr.fuzzenstein

firstlight wrote: »

Well to close this thread
I was able to get my car insured,although it was a much cheaper quote than most i still feel it is way way way to expensive
I can say that Gallivan Murphy Hooper Dolan Insurances were the cheapest by miles
So if your struggling chance them,its up to you

1175 Euro Through Allianz insurance my 3rd year with this company
Thanks for any feedback received

Every now and then the insurance companies decide to put the names of a few blameless drivers in a hat and pull a few. It is important that these are drivers had no accidents or claims over at least 5 years and there has to be absolutely no change in circumstances.
Those then get put on a sh*t & giggle list, i.e. their premium gets quadrupled for no reason whatsoever.
This gets shared around between all insurers, to make sure that person recieves consistently high quotes no matter who they call.
They then record the increasingly frantic and bewildered calls from the customer and listen to them at the christmas party.
Funniest call wins a prize, double if the customer starts crying.
This is standard insurance practice in Ireland.