One in three saw drop in in­sur­ance costs in 2018

The Kerryman (North Kerry) - - DRIVE INTO 191 - 5

A RE­CENT sur­vey by AA Car In­sur­ance found that one in three driv­ers saw their pre­mi­ums de­crease in 2018.

The study of over 5,000 showed that 17.52% of re­spon­dents ‘strongly agreed’ that their 2018 pre­mium was lower than it had been the year prior; 13.84% ‘some­what agreed’ with this state­ment.

At the other end of the scale, over 17% said they had con­sid­ered giv­ing up the car al­to­gether be­cause of the prob­lem of high prices.

Jan­uary is one of the busiest months of the year for Mo­tor In­sur­ance re­newals be­cause of the his­tor­i­cal pat­tern of when cars were first pur­chased. The AA is re­mind­ing mo­torists to look for good value and is warn­ing that the on­go­ing cri­sis of sky­high pre­mi­ums has not gone away.

“In­sur­ance costs have been the ma­jor con­sumer is­sue for driv­ers over the last few years.” Says Di­rec­tor of Con­sumer Af­fairs Conor Faugh­nan. “We have got used to high prices but that does not make them ac­cept­able.

“Some cat­e­gories of driver have seen prices fall a bit but there are plenty of peo­ple for whom the prob­lem is as bad as ever. Young driv­ers, re­turn­ing em­i­grants and those un­lucky enough to have a claim are fac­ing an­other year of bru­tal costs.”

The AA is high­light­ing the im­por­tant of shop­ping around among mul­ti­ple providers when it is time to re­new.

“Jan­uary is a time when many of us get the re­newal let­ter in through our let­ter­box and its never a nice bill post- Christ­mas.” Says Faugh­nan. “All the more rea­son to make sure you are not spend­ing too much. Es­pe­cially for non-stan­dard risks, you should do the re­search, shop around and make the in­sur­ance com­pany earn your busi­ness.

Al­most one in five re­spon­dents to the AA Car In­sur­ance poll ad­mit­ted to giv­ing thought to sell­ing their car as a re­sult of dif­fi­cul­ties find­ing af­ford­able car in­sur­ance. 7.60% of those sur­veyed stated that they had ‘strongly con­sid­ered’ a move to al­ter­na­tive forms of trans­port, with a fur­ther 10.42% ad­mit­ting to ‘some­what con­sid­er­ing’ such a move.

“These find­ings high­light the po­ten­tial true eco­nomic cost of the lack of progress in tack­ling the is­sue of ris­ing pre­mi­ums, which first emerged back in 2015,” Faugh­nan added.

“To be fair, the gov­ern­ment has a plan with a lot of good ac­tions in it. But for us to feel the dif­fer­ence they will need to worker harder on get­ting those ac­tions done.”

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