Money Guide Ireland

As always – “shop around ” is the best advice when buying or renewing car insurance. You could save hundreds of euros by going with one insurance company instead of another. In one example in a recent price comparison on Irish car insurance by the Financial Regulator – one car insurance quote was almost  3 times more expensive than the cheapest quote for the same client.

In the October 2009  survey – quotes were obtained for car insurance for a female 22 year old student  with 2 penalty points , 4 years full license and 2 years no claims bonus. She was driving a 2002 Nissan Almera . The quote also included a named driver – her 22 year old male partner with a provisional licence.

The cheapest insurance quote for this young driver was from Hibernian Aviva at €873 a year.  The highest quote for the same criteria was  €2506 from Axa Insurance .  The Axa price was 287% more than the Aviva price. (A difference of  €1633)
Note- The  Aviva price was subject to the driver taking and passing a  free 1 hour driving assessment to qualify for a special Ignition discount.

Other quotes in this example were €1418 from Quinn , €1652 from FBD , €1695 fom Allianz, €2153 from RSA via a broker and €2033 from Zurich.

In another quote comparison – for a 55 year old female driving a 2007 1.8l Ford Mondeo with a full clean licence. The cheapest cover was from Hibernian Aviva at €417 a year – with Quinn and Axa close behind at €421. The highest quote in this example was from Chartis at €579 – an increase of €162 compared to the lowest quote.

Comparing car insurance quotes for a 32 year old male social worker from Lucan, Co. Dublin with a full 10 year old clean licence and 5 years no claims bonus  – driving a  2006 VW Polo worth €10k.  The lowest premium found was €468 from Aviva and FBD . Next best was from Quinn at €496 with the most expensive quote being from Alllianz at €793. Again – a considerable difference of €297 between the cheapest and the most expensive quotes.

It could take a couple of hours to check out quotes from several companies – but if you can save up as much as €1633 – it will be time well spent.

Until March 2010 – you will be entered into a free draw to win an Opel Corsa if you get a full quote online at Aviva

Ref:  http://www.itsyourmoney.ie/cs_group_motor_insurance.htm

Irish householders can  avail of grants of up to 40% of the cost of energy efficiency improvement measures under the Irish Government’s Home Energy Saving Scheme (HES).
This Scheme, which is administered by SEI, provides grant assistance to homeowners for retrofit energy efficiency measures such as attic and wall insulation, very high-efficiency boilers, heating controls and Building Energy Rating (BER) assessments. The scheme is open only to owners of  a house that was built prior to 2006

The HES was allocated €49 million in 2009 but only €16.2 million was paid out in grants.  The Scheme attracted 40,724 applications in 2009 -  of which 36,454 were approved for grant aid.  The grants were used to upgrade 18,183 homes.
For 2010 €29.5m has been allocated for the Home Energy Savings Scheme.
You can find out more on sei.ie

There is a new scheme in the pipeline – the  National Energy Retrofit Programme which was announced in the 2010 Budget . Details are yet to be defined – but In broad terms the Retrofit Programme will bring together the Home Energy Saving Scheme and the Warmer Homes Scheme as well as the support programme for business and the public sector. It will also also involve the development and promotion of energy services by the energy companies.

Not long after Halifax announced they were getting out of Ireland – now another retail bank – Postbank are doing the same.
Postbank is to be “wound down” before the end of 2010 and they will not be taking on any new customers as of March 1st 2010.

Postbank was set up as a joint venture between An Post and Belgain bank Fortis in early 2007, with former AerRianta chief executive Margaret Sweeney at its helm. In  May 2009  French bank BNP Paribas took control of  Fortis.

Postbank also trade as One Direct and provide Car, Home and Life Insurance in Ireland – itt is estimated that Postbank has about 170,000 customers.

Postbank chief executive Margaret Sweeney said  “Existing customers can conduct their affairs as usual, and customers can be assured that their savings are fully secure,” she said.

The bank said it would be writing to customers in the coming weeks and they do not need to take any action at this point. It would continue to be “business as usual” for existing Postbank, One Direct and Postpoint customers.
Customer deposits continue to be covered by the Deposit Protection Scheme and the Government Guarantee Scheme.

Today’s decision does not affect An Post savings accounts which will continue to operate as normal.  Customers with any concerns or questions can contact Postbank on 1890 30 30 40 .

For the second time in a few weeks – Irish Nationwide have increased the interest rate on their 12 month fixed rate deposit account. The new rate is 3.5% – it was previously 3.35% . The only 12 month fixed rate higher than that in Ireland now is 3.6% from Investec. Both accounts need a €20k minimum deposit though. Anglo Irish are paying 3.5% to – with a €1 minimum deposit

See the top 12 month fixed rate savings accounts here

Bank of Ireland used to offer new credit card customers 0% Interest on balance transfers for 6 months – but that offer has been withdrawn as of today. New credit card customers can opt for 3.9% interest for 6 months on balance transfers OR 0% on purchases.
See all Credit Card Introductory Offers here

Get 9% off at DID Electrical this weekend in any of their 18 shops in Ireland. Just  use this voucher in store (also has a code for online discount) – valid till Suday 28th Feb 2010. Can be used on almost anything except Miele or Apple products. See voucher for full terms and conditions.

See Voucher Here

Pixmania Ireland have some promotional    discount codes here.
Using these promotional voucher codes you can get a discount of  €6 when you spend over €180 and get   €15 off when you spend over €400.
The codes are valid until  March 10th  2010

Pixmania is the online arm of the giant electronic DSG group (PC World, Currys Dixons). They sell anything from a Digital Camera to an Xbox, LCD TVs, Camcorders, MP3 Players, Juicers, Dysons, Laptops , Roombas etc.  all with delivery to Ireland.

Tesco no longer offer car insurance in Ireland through Hibernian Aviva. In February 2010 – Tesco stopped working with Hibernian Aviva and have now started offering car insurance in conjunction with RSA (Royal Sun Alliance).  Tesco car insurance customers who get renewal notices from Tesco in the next few months will be getting them from RSA instead of Hibernian Aviva.
If you want to stay with Hibernian Aviva – you may well find that they will give you a cheaper quote.  If you buy online from Aviva – you get a 10% discount. Get a quote Here
Hibernian Aviva will have to treat old Tesco insurance policy holders as new customers – because they were just the underwriters for the car insurance policy. Also – be aware that if you have made a claim in the past 3 years – Hibernian Aviva will not give you a car insurance quote.