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Car insurance in Ireland today

 

Most countries have their own regulations regarding car insurance. Usually, these rules are mostly similar; the differences would depend on the culture and common practices. In Ireland, for instance, what could be one big problematic car that companies are hesitant to insure? Why did car insurance companies lower their premiums?

Basics

Like in most countries, car insurance in Ireland is also a must to safeguard your car’s driver (you), another road user (the other driver) or a third party.Like in most places, third party car insurance is also mandatory in Ireland.

Third party insurance guarantees that in the event of accidents, the third party (the injured) can claim damages. Like in most places, too, driving without car insurance in Ireland carries a package of steep penalties (disqualification, imprisonment, €2,500 fine).

Low costs

Mostly because of the reduced total number of accidents, car insurance rates in Ireland have gone down. Other reasons cited according to the Motor Insurance Advisory Board were “…penalty points, road improvements, vehicle improvements and acceptance …of the road safety situation.”

Today, one of Ireland’s biggest car insurance companies offers eye-popping lowered costs like the €200 medical coverage, the €500 maximum personal effects coverage, and the replacement locks coverage of up to €750 (for either comprehensive or 3rd party liability), and up to €1,000 coverage for fire brigades.

Another car insurance company has a policy called Low or Zero No Claims Bonus. It replaces the no-claims bonus system with a lower price quotation. (A no claims bonus is a discount for those who do not claim on their policy. It also increases along with the number of years you do not make any claims.)

Special cases

Within Ireland, it is difficult to find a car insurer for left hand drive cars from America or Europe. (Car insurers are hesitant to insure them.)

Those who own “high performance” sports cars will also pay higher car insurance premiums compared to those who owned regular people’s cars. For the Irish, powerful cars have higher risks.

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