Car Insurance - Dearer In Northern Ireland

Discussion in 'The Intelligence Cell' started by HHH, Dec 14, 2011.

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  1. HHH

    HHH LE

  2. Fcuk tell me about it,
    I just renewed my car and the wifes and the house ins, just what I needed two weeks before christmas,
    I could understand the high prices when the troubles were in full swing...but ffs we are supposed to be normal now?
  3. The high insurance prices in NI are actually nothing to do with the troubles. It's plain and simply down to the standard of driving there and the amount of claims due to it. I found this out when I was trawling for a decent quote. Every insurance company I spoke to said the same.
    • Like Like x 1
  4. Yes
    I understand that ,but everything over here was always blamed on the troubles it was a handy catchall for everything and over the years you reluctantly began to accept it,
    as for the driving standards I drive from here to rinjsberg every week and I find NI no better or worse than anywhere else.
  5. The_Duke

    The_Duke LE Moderator

    The motor insurance Market is cut throat. If an insurer thought they could cut the rates to become the number 1 choice in NI and still make money then they would.

    The fact that the rates are still high means that theclaims are still high!
  6. HHH

    HHH LE

    Or they all just agree to not to dis- agree on the price and all the companies then get the same sized slice of the pie !
  7. The_Duke

    The_Duke LE Moderator

    Not a chance - one would always try to undercut the others top get a bigger share!
  8. HHH

    HHH LE

    The OFT doesn't appear to agree according to its report.

    From this news report. insurance northern ireland&source=newssearch&cd=2&ved=0CDUQqQIwAQ&
  9. The_Duke

    The_Duke LE Moderator

    Did you actually read the news report? It actually suggests that insurers "might have had the opportunity" to increase revenue by forcing their competitors to pay out more in claims for hire cars etc through their limited ability to manage claims costs. This would make their oppositions costs higher, forcing them to charge more in premium to allow for the higher cost, thus making them less competetive.

    The second point suggested insurers were using thier client base to generate additional income streams which they take as profit rather than using them to offset client costs. This is quite common in many types of industries where client lists are generated.

    Both of these concerns were UK market wide.

    You will also have seen the following, relevant, paragraphs:

    "As part of its analysis, the OFT looked specifically at the prices of motor insurance premiums in Northern Ireland, which it found were approximately 11 per cent higher than in the rest of the UK.

    It considered that this may be partly explained by the fact that fewer consumers in Northern Ireland shop around for motor insurance - 55 per cent, compared to 73 per cent of consumers in England, Wales and Scotland.

    The OFT also received evidence that suggested there were higher personal injury compensation levels and higher legal costs associated with claims in Northern Ireland, as well as more frequent accidents."
  10. skid2

    skid2 LE Book Reviewer

    Obviously don't spend any time in Newtownards :)
    • Like Like x 1
  11. Car insurance is the bane of my life. I've been saving all year and still only have a third of what I need to have to pay it by spring.

    Wouldn't agree that driving standards are any worse here than in GB, you get muppet drivers the world over. I actually feel a lot safer on the roads here than I did when I lived in GB. But then I live in the arse end of nowhere where a dual carriageway is called a motorway.

    Conditions were pretty treacherous out there last night and today! Drove home in a blizzard last night and though I was crawling through a town centre I actually drifted round a corner it was so slippy. Glad I didn't wreck the car or my insurance would be even worse!
  12. Probably not helped by joyriding being the national sport over there either.

    Or driving down the hill in front of the shopping centre in Bangor where random lane changes, slamming brakes on when spotting a parking space and non use of indicators appears to be mandatory.
  13. I do my best to avoid it.
  14. Chuffed to ****. Anything to keep the ******* off the road.