Tuesday 17 October 2017

Car cover costs young men an extra €1,000

Charlie Weston Personal Finance Editor

YOUNG male motorists are being charged up to €1,000 more for insurance than women.

But insurers are being urged to narrow the gap in pricing between male and female drivers ahead of new rules that will ban the use of gender when setting premiums.

A survey by brokerage Chill.ie found that a 19-year-old woman can get her motor policy for €1,000 less than a male of the same age.

Chill sourced 14 quotes for male and female drivers from seven counties, aged 19. A male seeking insurance for a 1998 Honda Civic, seeking fully comprehensive cover, got quotes in seven counties at €2,508.

Fully comprehensive insurance for females varied from €1,904 in Donegal to €1,453 in Dublin.

A similar pattern was found with third-party costs for 19-year-olds.

The best value for males in all counties was €1,588. Females were quoted the same €1,588 in the majority of the counties, with those living in Dublin quoted €1,362.

Chill said this showed the importance of seeking out a large number of quotes.

Irish Independent

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