Monday 23 October 2017

Ulster to offer discounted car cover

Charlie Weston

Charlie Weston

ULSTER Bank is to offer car insurance with a promise of discounts of up to 10pc for its existing bank customers who sign up.

The product is underwritten and administered by insurance market leader Aviva.

The announcement by Ulster Bank fills in a blank for the bank as its larger rivals, Bank of Ireland and AIB, both offer motor insurance. The motor insurance market has been rocked in the past five days by the move by the Financial Regulator to have provisional administrators appointed by the High Court to Quinn Insurance.

Quinn insures one in five vehicles on the road, and brokers and other insurers report a surge in queries in the past few days from customers of Quinn worried about the financial health of the company.

The Financial Regulator has assured customers of the company that it is business as usual at the insurer despite the appointment of the administrators.

Ulster Bank's customers who have a Ufirst current account or combined savings/mortgage product will qualify for a 10pc discount on all new policies, while a 5pc saving will be available to customers with either a savings or a mortgage account.

Alternatively, existing Ufirst, mortgage or savings account customers can purchase their policy online and avail of an additional internet discount of at least 5pc. Ulster Bank is to provide two distinct levels of cover.

A "value' insurance offering will provide price sensitive shoppers with comprehensive car insurance cover with the option of purchasing add-ons.

A "premier" offering will provide customers with comprehensive cover including breakdown assistance, windscreen cover and a lower policy excess as standard.

Irish Independent

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