Car Insurance Price Comparison

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With many people renewing car insurance in January –  we thought it would be a good time to take another look at the results of a comparison of car insurance quotes that were published by the Financial Regulator in October 2012 .

The Oct 2012 comparison showed once again that the price of car insurance premiums can differ by large amounts and households can save significant amounts by shopping around.
Our advice is -when you get an insurance renewal notice – don’t just accept it – get a few more quotes.

Overall – the comparison survey obtained 28 quotes each from 8  car insurance companies.  They covered both comprehensive and third party insurance for males and females. We won’t look at the quotes for provisional licence holders  – because we wrote about insurance costs for learners back in October 2012 .

In the  comparison for comprehensive insurance   – RSA Insurance came out the best overall – with the lowest quote in 4 out of 6 cases.  Axa had the lowest price in the other 2 cases.

One example was for a 45-year-old driving a 1.9l car valued at €4k with 4 years no claims bonus .

RSA Insurance gave the lowest price for comprehensive insurance of  €452. Chartis Direct were €379 more expensive at €831 .
Other quotes were : Liberty Insurance €507 ; FBD €530 ; AXA €536 ; Allianz €668 ; Zurich €783 ; Aviva €803.

One other interesting comparison was the difference 4 penalty points made to the insurance quote.  With most insurers it made no difference to the premium (AXA ,ChartisDirect ,FBD, Allianz,Liberty Insurance).
But RSA increased the price from €362 (no penalty points) to €419 with 4 penalty points (an increase of  €57).
Aviva quoted €429 for a 50 year old with no penalty points – but wanted €536 if the driver had 4 points.

The survey only used direct insurers. You may well get even cheaper prices from online Brokers  – they will get quotes from several insurance providers.

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1 thoughts on “Car Insurance Price Comparison

  1. Using the NCA website I found a car insurance comparison pro-forma. I regularly make at least 5 calls when comparing. I made six for my son last year and saved €180 on the best quote of five. I spoke with a bank officer who used to be an motor and home insurance salesperson. Her advice was always contest the first quote – in her view it’s the first pitch. If the salesperson gets the price they want first time, great! If not, they will haggle. Always go back to your own insurer with a quote and very often they will match it. I was working through a broker and insured with X company. I rang X and got a better quote and rang back the broker who matched it! Worth trying! Remember the trick is – to borrow a phrase – go compare!!

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