Insurance surprise!

mrblack

My wife has bought a new car and naturally we expected the insurance to go as it always does. She is currently insured with FBD but today AXA quoted only E590 comprehensive for a new Megane saloon value 22k. She paid E800 last year for comp cover for a Rover 25 valued at E10,000.00. We live in Lucan and this includes windscreen cover with me as a named driver ( it was cheaper to add me onto her policy than to leave me off it ??)


Good news at last!

ando

1 year's FBD comprehensive cover for you and wife = 1 month's 3rd party for me!

The joys of being young

mrblack

We're not that old-She's only 31 and I am only as old as the woman I feel!

Seriously though premiums do seem to be softening,. or maybe they just cannot go up any more. My renewal is in March and it was E1,525 last time so this time I am praying its going to be lower, but I will do plenty of shopping around to make sure I am getting the best price too.

unkel

Originally posted by mrblack
She's only 31 and I am only as old as the woman I feel!

LOL

Originally posted by mrblack
with me as a named driver ( it was cheaper to add me onto her policy than to leave me off it ??)

That's cause you're married - still doesn't make much sense though, does it

commuterised

yes I'm in the same boat,
my insurance was cheaper for me to add my husband to my policy, and he's more of a liability that I am!

Imposter

It's still a ridiculous system though.
Over here I can let anyone i want (who has a full-licence) drive my car on my policy. None of this age, experience, sex bullsh1t.

It just comes down to whether I trust them enough to drive my car.

BaZmO*

.

BaZmO*

My Insurance started off this year as €4,500 then went to €3,000 in March and now it's gone down to €1,900. All with the same company btw!!!

Mad eh??

B.

MadsL

That's cause you're married

No it is not. It is now illegal for any insurance co. to ask your marital status. If they do report 'em.

rander00

BaZmO, how is it go down that much. Is that 3 different preiums over 3 different years or are you referring to ur quote?

jf_cole

Originally posted by MadsL
No it is not. It is now illegal for any insurance co. to ask your marital status. If they do report 'em.

Can i ask where you heard this?

We ask many questions, and have never been told what we can and cannot ask, we need to know the likes of the above because it does affect the premium.

The reason it affects it is because that people who are married, dont tend to have as many accidents, therefore get cheaper insurance.

BaZmO*

Originally posted by rander00
BaZmO, how is it go down that much. Is that 3 different preiums over 3 different years or are you referring to ur quote?

What actually happened is this.

My insurance is up every November and after a year driving on a provisional I renewed my policy in November 2001. But in December of the same year I crashed into the back of someone!! DOH!! Now because I'd just renewed my policy before the crash the Scum.....sorry, the Insurance company couldn't increase my policy until the following year and by God did they!!! It went up to 4.5k in November 2002. Then when I passed my test in March it went down to 3k and I just got my quote for this November and it's 1.9k.

B.

BigEejit

I have my wife on my policy and I am on hers, we are with different insurance companies and we save a bundle compared to if we were not on each others premiums

Victor

My sister rear-ended (grandiose bumper scaping - €1k? claim) someone on a roundabout and got the same quote as last year.

http://home.eircom.net/content/unison/national/1796939?view=Eircomnet

Penalty points knock 20pc off premiums
From:The Irish Independent
Wednesday, 29th October, 2003
Eddie Cunningham Motoring Correspondent

INSURANCE premiums have fallen by an average of 20pc since April, a major new study reveals.

The dramatic reductions stem mainly from fewer accidents since the introduction of the penalty points system.

And experts said further cuts of up to 10pc are on the way if the current accident trends continue.

The lower premiums apply right across the driver spectrum.

Conservative estimates put the reductions at an average of 20pc but many drivers are being asked to pay as much as 30pc less.

There are many examples of savings of around €300.

Sources said younger male drivers - traditionally among the hardest hit - are being quoted upwards of €400 less than six months ago, though no figures for them were produced for this study.

While the lower quotes were primarily attributed to the link between penalty points and fewer accidents, the clampdown on bogus claims is also seen as playing a key role.

The survey was carried out on a scientific basis for, but completely independent of, the Automobile Association.

The results are published unedited and uninfluenced by AA.

When contacted on the findings, the AA's public affairs spokesman Conor Faughnan said they represented genuinely good news for motorists.

"We have been campaigning for years for measures to improve road safety and to end the rampant compensation culture.

"Now we are seeing the beginning of the end of the compo culture while road safety is improving."

Examples of premium reductions include a Dublin-based 28-year-old man with a full licence and maximum no-claims bonus being quoted €1,124 this month compared with an April premium of €1,441 - a 21pc difference.

At the other end of the scale a 56-year-old woman enjoyed a 32pc reduction (down from €906 to €616) in six months.

The details not only spell good news for the present but will create a climate of expectancy of further falls that will put further competitive pressure on the insurance companies.

Yet while the reductions will be welcomed, it still has to be remembered that we continue to endure high premiums.

And although the survey is of the mainstream market, it is understood that the percentage drops in the problem young drivers' sector are much the same. In real terms that means savings of anything from €400 upwards.

The news will be warmly welcomed by the Government and Transport Minister Seamus Brennan in particular for pressing ahead with the penalty points.

But it will also add extensive weight to campaigns by the likes of the AA who want far better enforcement of road safety and see a dedicated Garda traffic corps as central to implementing.

So far the Government has baulked at establishing one. Mr Faughnan said last night: "The gains made in terms of road safety and reduced insurance premiums will not be sustained if the Government fail us by not addressing the enforcement issue."

He said the penalty points system has had an immediate benefit for everybody, most importantly by reducing deaths and serious injuries. But the priority now is to enforce the system more thoroughly.

"We cannot afford to let it lose its momentum."

He also said compensation settlements are getting tighter and compensation amounts have fallen overall.

But legal costs still need to be tackled and the Personal Injuries Assessment Board needs to be established. Catalyst Market Research contacted each of the insurers listed in a "mystery shopping" exercise.

loyatemu

AXA have this policy called insured and spouse which puts you both on the same policy.

For some reason it is very cheap (the actuarial tables must say that married people are less likely to have accidents)

The best thing about it is that you don't even have to be married - you can include your "common-law" spouse, so if you're living with your girlfriend\boyfriend its definitely worth checking out.

Victor

Originally posted by loyatemu
For some reason it is very cheap (the actuarial tables must say that married people are less likely to have accidents)

To be cruel it just means that seing as you are both dead the payout won't be as big as there is no financially deprived spouse.

ando

Re: Insurance surprise

I got my renewal policy letter this morning... Policy gone down €2200 from last year !!!!!!! Sweeet

mrblack

Ando, if your policy has dropped by E2200!! What was it last year?

ando

4609 !

Atomic Pineapple

well mine has gone up by about €800 a year for the last 3 years so its up in january be interesting to see if it actually goes down for a change