Sunday 22 October 2017

Why we need fair play on quotes for car insurance

Talking point...

Are safe motorists unfairly penalised?
Are safe motorists unfairly penalised?
Eddie Cunningham

Eddie Cunningham

And so we face the prospect of paying more for our car insurance. Premiums go up in tandem with insurance companies paying out more and therefore losing money or dropping profits.

So we are all accountable for the sins of the, relatively, few. It is easy and dangerous to be simplistic about this but it seems to me that the motorist who has a blemish-free record for many years - and there are hundreds of thousands of them - is the one most unfairly penalised.

Maybe I am being unrealistically critical here but I feel there has to be something wrong with an industry where a company can quote you €500 and end up charging you €400 when you assert you have a lower quote from a competitor.

Some may say that's business. But does it not give the wrong impression? The company is either losing money by dropping to €400 or was creaming €100 by charging €500 in the first place.

What do you think?

Indo Motoring

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