Neither my husband who is insured as a named driver on my policy nor I have done anything over the last year to warrant such a price increase. We both have a no-claims bonus of more than 10 years. We have no penalty points or driving convictions. We drive a run-of-the-mill family car.
Yet my insurer asks me to pay 26pc more. It was a similar situation last year: my car insurance renewal quote in February was 21pc higher than it was in A lot of young drivers are struggling with car insurance bills running into a few thousand euro a year. Still, price rises like this are simply not sustainable for me. These hikes also worry me. I live in rural Wicklow. It's about an hour's walk to my nearest village.
Like so many country dwellers, I rely on my car to get around - and to ferry my three young children everywhere. Public transport links here are woeful. Should I be hit with a double-digit price increase every year, there could soon come a day when I simply cannot afford my car insurance. So I decided to contact some brokers.
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Surely they would get me a better quote. At that point, I gave up on the brokers. I figured I had no choice but to swallow the 26pc price increase. So I paid 11pc more for my car insurance than I did last year - still a sizeable price increase but thankfully lower than the 26pc hike I initially faced. Many people contact brokers in the belief they can scour the market to get the best deal - and that's certainly what brokers say they can do for you.
Don't pay too much for your car insurance!
Yet, in my experience, I could have paid hundreds of euro more for my car insurance had I gone through a broker instead of dealing with my insurer directly. Read more: Motor insurers accused of 'hardening their attitude' towards drivers rather than easing up on premiums. Also, should you need to make a claim, you need an independent person such as your broker to advise you on what you're entitled to. Relying on an insurer to show you the small print that could make a big difference in the outcome of your claim seems somewhat illogical. McNelis, however, also said there is fierce price competition in the direct-insurance market where consumers buy their insurance directly from an insurer instead of from a broker.
What Do I Get With Sheridan Insurances ?
Commissions also come into play. Car-insurance brokers typically earn commissions of between 5pc and 10pc, according to the IBA. A discussion paper published by the Central Bank last June found that motor insurance brokers typically earn between 7. Furthermore, "better rates of commission have been negotiated individually by some brokers and the Central Bank also observed some profit-share arrangements between general insurers and some larger intermediaries", said the paper.
It is always worth contacting different insurers and brokers to see if you can get a better deal on your car insurance - particularly if you're facing a steep price increase. Be sure to highlight your claims-free history if you have one when shopping around - some insurers offer a bigger no-claims bonus than five years so you may get a better discount if you have not made a claim for the last seven or more years.
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However, if, like me, you cannot get a better price when shopping around and you are struggling to afford your renewal premium with your current insurer, here are some steps you could take. Read more: Banks and insurers warned over use of tracking devices on customers' cars. Some insurers offer multi-car discounts of as much as 25pc if a family has insured two or more cars with it. This discount does not usually kick in automatically - you need to ask your insurer if you're eligible.
You may also be entitled to a further discount if you have another insurance policy such as home insurance with the same insurer.
Check too that you're getting the full no-claims bonus discount that you qualify for. Many people choose comprehensive cover when buying car insurance. We currently deal with Glo health Insurance. The best option for a motor or van insurance quote comparison is to speak to one of our motor insurance advisers and we can compare your existing policy to our products and advise you of the best option for you.
Quote Devil specialise in all kinds of car insurance, from young drivers, to high performance vehicles, to drivers with convictions and all those in between! At Quote Devil we pride ourselves on the special relationship we have with our insurers and endeavour to offer all of our polices at an affordable price. We have been arranging car cover in Ireland since and have a team of highly trained car insurance specialists that will help you to find the policy that fits your needs as well as your budget.
Whether you are choosing fully comprehensive or third party cover, we will provide you with the most affordable quotations possible.
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Give one of our friendly agents a call today on 01 and find out why thousands of people in Ireland are choosing Quote Devil for their car insurance. We are committed to making sure you get the best priced insurance cover for our customers. We know that getting you good cover at a good price is very important! We are committed to obtaining the lowest possible price for new policy holders as well as driving down current policy prices and keeping them down across all of our products.
Our advisers are highly experienced and we are confident they are the best in the business!!
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Quote Devil has been providing affordable low cost insurance in Ireland since We would like the opportunity to improve your cover options and reduce your premium also. We know insurance can be a big expense so at QuoteDevil we are constantly helping our customers find the right cover at an affordable price. We have put together a list of tips to help you reduce your premium. From building up your bonus to adding a named driver, increasing your excess to having a home or car alarm, we are dedicated to getting you great cover at a great price!
It goes without saying that you should shop around when it comes to your insurance. There are many insurance companies offering cover at a variety of different prices. However, we know that this process can be both time consuming and mind boggling! At QuoteDevil we can do the hard work for you. We have a number of different insurers and polices to choose from in order to find you the cover you want at a price that suits you. Building up your No Claims Bonus is the best way of reducing your home or motor insurance premium. Now that really is a saving!! One of the biggest mistakes people make when taking out their car insurance policy is over valuing their vehicle.
It is very important to keep in mind that an insurer will only pay out the market value on your vehicle in the event of a claim and not necessarily what you have said the car is worth at the time of purchasing your policy. Although paying by direct debit can sometimes seem like the better option it is important to note that it can work out as a more expensive option. Did you know that by increasing the excess the amount you pay in the event of a claim on your policy can reduce your annual premium? Adding your spouse or partner to your motor policy, as long as they have a full licence, can reduce your motor insurance premium.
Likewise, adding a named driver to your motor policy that has full time use of their own vehicle can also bring down the cost of your car insurance. Where you park your vehicle overnight can have an effect of the cost of your motor policy. Things like a working alarm, an immobiliser and a vehicle tracker can help bring down the cost of your policy as well as give you peace of mind.
Email: thebigman quotedevil.