According to a study undertaken by of their motoring clients, a simple car policy review could be worth anything from €100 to €1,000+. Based on their own dealings with hundreds of motorists every day, the car insurance brokers say that a full assessment can lead to huge savings, depending on a wide range of factors, both in and outside the control of motorists themselves.

Jonathan Hehir, Managing Director of explained,

“We go through each of our customer’s policies every year, and the regular review typically results in savings to the motorist of €100 to €1,000 or even more when both the policyholder’s circumstances and the insurer’s pricing change. For example, a 21-year-old who recently came to us had paid €2,800 last year; since then he has passed his test and added 1 year to his NCB. On top of this, we found an insurer that would give him a significant discount if one of his parents was named on the policy. The result was a premium of just over €1,145 – needless to say, he was pretty happy”. say that often it is predictable items, such a reduction in the valuation of the vehicle itself, that will bring premiums down. But the insurance experts advise that in many other cases, industry-knowledge can lead to even greater savings.

Mr Hehir continued,

“Motorists expect premiums to change when personal considerations change, such as their age, No Claims Bonus (NCB), car type etc., but there is far less awareness of the impact of insurers changing what they regard as high risk or low risk. How would a motorist be expected to know that their current insurer no longer favours their driver profile due to their age, location or their type of car?

The insurance market has been in a constant state of flux and competition for the last few years with insurer frequently adjusting their premiums. As for the motorist themselves, their situations are always changing also. All of these factors combined can mean that even in just 12 months, from one policy renewal date to another, a lot can happen which will have a knock-on effect on car insurance premiums”.

3 Typical Cases and their savings have set out a list of 11 “controllable” & “non-controllable” variables which they say all drivers should know can impact their car insurance premiums:

Drivers: In Control

– Named drivers on a policy

– Number of years of No Claims Bonus

– Penalty points

– Occupation

– Address change

– Policy type

– Car change

Drivers: Out of Control

– Insurer prices

– Insurer appetite for risk

– Car value

– Driver Age

Mr Hehir concluded,

“The factors set out above – whether in or outside of your control, are all worth looking at. No longer should people simply see their renewal notification & hit accept – even if it is lower than last year. We hope that instead, people will see the insurer’s renewal notice as a call to action – an opportunity to do what they can to get a better premium for the year ahead. And don’t take any rejection personally; this is a fickle business, an insurer that loathed you last year may love you this year! And vice versa – so “loyalty” doesn’t pay!”.

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