2008

Car insurance rate news - Irish eyes are smiling

A report published recently revealed a huge drop in car insurance rates for young Irish drivers.
Carried out by PA Consulting Group on behalf of the Irish Department of Transport, the Review of Motor Insurance Premiums for Young Persons presents findings regarding concerns about motor insurance costs for young drivers.
Between 2002 and 2005 the average cost of car insurance in Ireland dropped by 19%; young drivers benefited the most, receiving greater reduction in car insurance rates than other age groups.
The number of people aged 17 - 24 taking out car insurance between 2003 and 2005, rose by 63%.
The report also revealed that young drivers are now more likely to purchase comprehensive cover than any other policy. The number of young drivers between 17 and 20 buying comprehensive cover between 2002 and 2005 doubled.
Irish transport minister, Noel Dempsey, said, "I welcome the findings of this important review. The report also sets out a number of road safety measures to help further reduce the costs of motor insurance for young people and to save lives."
A duck2water car insurance company spokesperson, said, "This report is enlightening and hopeful. We would very much like to see similar research carried out in England; particularly to encourage safe young motorists and thus reducing the average car insurance rate for young drivers in England."

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