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Car insurance rant

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  • 18-05-2015 5:32pm
    #1
    scheister
    Registered Users Posts: 1,309 ✭✭✭


    Sorry every just going to go on a little rant here

    I went to renew my insurance as it is up a the month end. I knew i was facing an increase as i had a claim against me in the last year i have no issue with this. Last year my policy was €300 as i paid it off in one go. My renewal quote was 1600. I questioned why the large increase in my head i was expecting the quote to be around 1200. I was informed that that since i had changed my address from kildare to louth. This added to the policy if i was still living in Kildare the quote would be 1100. Fair enough not happy but not much i can do. The claim against me is still waiting on settlement so cant shop around. So rang up today to go with the quote to be told that quote is based on paying it all up front so i asked what the quote would be if i payed by DD. I was informed 2100 which i think is mad as fair enough i dont have any no claims but have a full licence 2 years. I am fairly sure my 1st quote when 18 and on a provisional was less then this quote.
    rant over


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    #2
    wmpdd3
    Registered Users Posts: 9,624 ✭✭✭wmpdd3


    Ask them what the APR and service charge on that, it seems very high, usually >10% APR and about 30 service charge.


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    #3
    scheister
    Registered Users Posts: 1,309 ✭✭✭scheister


    wmpdd3 wrote: »
    Ask them what the APR and service charge on that, it seems very high, usually >10% APR and about 30 service charge.

    7% service charge was what he said


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    #4
    To Elland Back
    Closed Accounts Posts: 1,923 ✭✭✭To Elland Back


    Some Insurers are quoting what they call a totally different product, with different rates if you want to pay by DD. Aviva are big on this. They will tell you it is not an interest or service charge. No real justification for it, they want the money up front which does away with administration and the risk of default.


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