Thursday 19 October 2017

Insurers won't cover cars older than 15 years

Motorists are being blocked from getting lower insurance prices because they drive older cars
Motorists are being blocked from getting lower insurance prices because they drive older cars
Paul Melia

Paul Melia

Two of the country's biggest motor insurers are refusing cover to new customers driving cars 15 years old or more.

The move by Aviva and Allianz will limit the ability of up to 250,000 car owners with vehicles registered before 2000 to switch insurers to get lower premiums.

The firms claim such cars carry a higher risk and are more likely to be used to make fraudulent claims.

Blanket exclusions are being applied, even if the car holds a current NCT.

The decision comes despite official data suggesting that dangerous vehicles are linked to just a tiny fraction of all fatal and serious injury collisions.

Existing policyholders will not be affected. But any new customer seeking a quote for a car registered in 2000 or earlier will be automatically refused cover, the companies said.

The Consumers' Association of Ireland said the move would restrict competition in the market.

Irish Independent

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