50,000 need to find new insurer

dr.fuzzenstein wrote: »

And that for some reason they all manage to offer cover for older cars, reasonable prices, didn't mind that I was insured in Ireland for 20+ years, cover for cars over 2 liter (Lord Bless us and Save Us!), no problem with insurance for private use of vans, the "they're all ripping us off Joe" argument falls apart pretty quick then.
And I don't hear of a big insurer going bust.
The next argument "How Dare They Make A Profit!", well they make profit on the continent too. They gots to make money, doncherknow.
So what is the difference?
Whiplash.
Awards start at €12-15k in Ireland for "ouch my neck hurts". For that you get €600 to €1000 here.
You will receive adequate compensation for actual damage. There are also payouts if €20k here, but for that there has to be real, actual, provable damage, not just wearing a neckbrace and having a dodgy note from some GP.
Also, awars are rising the whole time in Ireland, people circumvent the claims board and go straight to court and because most insurers now settle quickly and quietly, this money doesn't appear in statistics.
But they're forced to do it.
€12k quick and easy payout vs. court case, €20k payout and €40k legal costs?
Doesn't take a rocket scientist.
All the insurers can do is adjust premiums and avoid risk until only Mary from Cork gets insurance on her 1l Micra.

Curios the statement you only get 600 to 1000 for neck pain HERE

Where is this HERE ??? sounds like Germany so do you float between the sod and Germany a lot or what ??
By rules of EU data protection you are not obliged to reply to the question above HA HA

The story that Claims in Ireland are much higher than the norm doesn't hold up when you check into the insurance stats around the developed world .

(We cant really look at most of the third world where statitics are bad if existent and places like Morocco that do simple insurance when you pay the car insurance the first time you covered for lifetime of the car you insured .)

many parts of the western devolped world tend to have larger payout for the more serious injuries particularly the USA and the USA with high neck injury claims can also often beat the Irish claims

However the tables do show that Ireland has a similar accident rate typically ~0.7% per year meaning that of 1000 car insured some ~70 of those insured car in that year will have some sort of accident claim . In fact the UK claims rates are higher than the ROI often double the ROI but the British insurance companies have more ways to wriggle out of paying the claims bringing paid out claims down towards the norms .

When you look the average payouts per accident across the devolped world thay are very similar about €20,000.

Something like 90% of all car accidents claims are small accident s like fender benders where injuries are often light like sore necks whiplash etc
The british Insurance could see that if they refused to pay out cash and injury claims to this type of claim and offer hospital treatment or suitable treatment from specialists to reduce this pain they could save a fortune in claims as this was 90% the claims typically 1£10,000 claims for whip lash could be reduced to £1000 in hospital or specialist treatments

That would not be the case in the USA where pain itself carries a high price in the lawyer ambulance chasing economy that will never allow that British model to happen

britian has largly capped serious injuries to fairly low amounts like £20,000 for loss of leg where iresh could expect payout of 200,000 for the loss of the leg .The USA could easily exceed $1,000,000 for loss of a leg and if there is class action suit payout over $10,000,000 for those kind of injuries can result

However when you look the average they all tend to be similar payouts so the idea that payouts in Ireland are higher than the i western world norms doesn't look to hold up

Even among the so called worst drivers in Ireland the 150,000 uninsured drivers there doesn't seem to be huge payouts when you do the basic maths
Uninsured driver payout were ~€60 million last year divided among 150k drivers that comes out at ~€400 a uninsured driver . Now some will had huge accidents with 1 million euro claims but then that means most of them had smaller claims .It took about one in ~50 uninsured drivers to even get close ~€20000 claim which means that ~49 of the other uninsured drivers clearly had claims of less than €400 when averaged out . Now we do have to factor in fudge factor of some uninsured drivers will pay the claims either because they sell their house or they repay with their earning or both but that probably only knocks of 5% of the uninsured claims as often uninsured drivers have no way to repay the costs either now or in the future .

The point to drill down into the numbers is when we look the en tire fleet of cars of ROI which can vary on estimates of ~1.8 million to ~2,5 million ( ~2 million looks to safe best guess number ) car driving in the ROI depending who numbers you look at means we estimate the total cost of the entire car insurance industry and average it out the claims market

My maths which are basic suggest that the average claim for each car in ROI in a year works out at less than ~€125 per car ( not the same as amount of drivers which is larger amount making that even less than ~€125 a year )

Now when I look at countries like Portugal where I lived they pay an average of ~€150 for third party car insurance and more again for comprehensive (Comprehensive is often not available to cars exceeding ~6 year old ).Insurance is for the car not the driver same in Spain where average is about €200 for third party but forced to have break down retrieval adds ~€50 to that I know had Spanish car there

Hungary has a more simple system they like many countries of the planet do not have unlimited third party claims like ROI and UK have .
Their claims are capped at €1,000,000 .
The USA most all car insurance third party is capped at figures of less than ~$500,000 with many states caped at low figure of ~$50,000.
(One USA state has no compulsory third party insurance requirement on the logic that insuring a car that weighs one ton driven by a nut case is the same bad logic as insuring a gun owner from going into a shopping mall and shooting up all the locals because he took some pill that sent him over the edge . Funny thing is in that state they have lower accident rate too much risk to crash or to be crashed into by uninsured driver who cant pay up .

Lithuania Poland and most former eastern Europe countries tend to have third party insurance capped at figures fro €100,000 to €1,000,000.

Most countries of EU insure the car not the driver .

The Hungarian system is done by the government ( they probably lay of the risk to brokers like Lloyds or AIG whatever ) is that you pay about ~€80 euros for a disk that gives your car €1,000,000 third party cover for the year .
As probably 99% plus of accidents will never exceed €1,000,000 this works for most people.
If the car accident exceeds the €1 million cap the driver becomes personally liable for the difference so better to be a careful driver .

If we Irish drivers could get together we could force the gombeens in Lienster house to bring into Ireland a Hungarian model of Insurance probably charge a flat rate of €200 per car for third party capped at $5 million only and let the private market do just the comprehensive part of insurance .

The unlimited liability model of Insurance allows Car insurance companies to pull any number out of the rear end because they have the excuse well their is no limit to the claims.

With a capped market then the numbers are more easy for a actuary to calculate in terms of risks and excessive premiums become exposed in the harsh light of transparency

It would also make the PMPA Setanta DANISH scams less interesting to do

If Irish drivers continue to allow the car insurance market to rape them stupid they can look forward to some other scam from the Maltese pirates as they shift their bases from Denmark to other places in the EU . Five years time maybe the Greek Scam followed by the 10 year mark the Andorra Scam .


Each Scam like Setanta and Denmark will leave unpaid victims and the loot will leave Ireland to enrich the private jet owners living on pirate base island Malta as they invent now insurance scams and use other EU pirate bases to rob Irish motorists forced by garda with Irish Judges go to jail reality to pay up the compulsory car insurance.