AA Ireland is offering advice for such affected motorists. Whether you’re seeking quotes over the phone or buying car insurance online, finding cover for older cars has proven difficult in recent years.
However, the good news is that many car insurance providers in Ireland will still cover you, including AA Car Insurance. This is part of a bigger problem affecting the motor insurance industry as a whole. Prices are rising sharply for everyone: normal, standard risks are producing annual increases of up to 20%, while non-standard risks (including older cars) are prompting much higher premiums. New customers will also have fewer providers to choose from.
What can consumers do to insure older cars?
It’s time-worn advice but do shop around. Even as prices go up, there is still good and bad relative value to be had. Please try the AA while you are at it. Don’t look only at price. It obviously matters but look also at what’s included in the car insurance policy. Protected no claims discount or windscreen cover are benefits worth hanging on to.
Why is the price of car insurance going up so much?
A few things are going on, some of which are understandable and some that are less so.
- Traffic volumes have rapidly increased, leading to more accidents and higher exposure.
- The cost of settling injury claims is on the rise.
- Insurance fraud is a significant problem in the industry, contributing to a minimum €50 increase in typical policies.
- Levies are incorporated into policies to cover past disasters, like the Quinn collapse, resulting in a 5% increase.
- Insurance was sold below cost for several years as providers competed for market share, leading to an unsustainable pricing model.