Business Personal Finance

Wednesday 22 February 2017

'I was off the road for a few years due to unemployment, now my premium is up 700pc' - readers share outrage over insurance hikes

Published 13/09/2016 | 14:39

Allison Bray’s insurer raised her premium from €283 to €479. Picture: Arthur Carron
Allison Bray’s insurer raised her premium from €283 to €479. Picture: Arthur Carron

READERS of have been venting their frustration at spiraling insurance premiums.

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Hundreds of readers have gotten in touch to share their horror after receiving their premium for this year.

Many shared stories of holding a clear driving record for decades - yet still have seen their premium double or more.

One reader said: "10 years no claims, no penalty points [or] parking fines [and]  our insurance has doubled this year, we asked [the] insurance company 'why?' and they said it was due to all the claims [that have] been made and the fact we have a car older than 10 years?

"Like the woman in this story, we do less than 10,000 miles a year, it's a joke."

One reader, who was forced to go off road for a few years due to unemployment, was horrified to find her premium was up almost 700% when she went to get back on the road.

"Went off the road for four years due to unemployment, [and I am] now paying just under €3,000 for insurance, and was refused a quote by a number of insurance companies." they said.

Others are finding the age of their vehicle is preventing them getting cover - despite being in no accidents.

"My husband's renewal is in. €400 last year, €675 this year. No convictions or penalty points. Full licence and 10+ years no claims. Car is a 98 Renault Clio.

"He only drives it to work and home, five miles each way.... one company quoting €1150 to insure him, others refusing to quote. We have to seriously consider getting rid of a car that passes the NCT every year," she said.

Young drivers are also finding it increasingly difficult to find affordable cover:

"My son is 25yrs old [and has a] full clean driving licence for almost 7 years. We got three quotes for a 00 Nissan micra, which had new NCT , therefore is roadworthy, valued at less than €500.

"Got quoted €6,873, €2,570 and €2,450."

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