car insurance in ireland the guide

Guide to Car Insurance in Ireland

The motor insurance industry can be a daunting place. If you don’t fully understand the insurance industry you should consider reading up a bit. This blog post will give you some tips on seeking motor insurance but you should really seek professional help from a broker regulated by the Central Bank of Ireland.

Dealing with hundred of customers everyday gives insurance brokers considerable buying power; much more than you would have if you approached an insurer independently. With buying power comes better prices. Think of the recent rise in energy prices and how members of the public are grouping together to buy their energy collectively and make a saving; it’s the same principle.

So, when an insurance provider is contacted for a quote by a broker, they want to keep them happy, and give them a great price. This is exactly why you should talk to a qualified broker instead of using comparison sites.

So, in short…

  • Use a broker to find the best motor insurance deals;
  • Make sure brokers you use are regulated by the Central Bank of Ireland;
  • Ensure they provide a unique service that saves you both time and money;
  • There’s absolutely no-obligation. A broker will not charge you for a chat about car insurance.

Car Insurance Explained

Motor insurance or vehicle insurance also known as car insurance is insurance acquired for cars, motorcycles, trucks and other road automobiles. The chief goal is to provide comprehensive protection against physical harm or loss from man-made and natural disasters. In almost every country in the world, motor insurance is required to ply a car on the road.

Types of Motor Insurance

Motor Insurance can be classified into the following categories:

Car Insurance: Vehicle Insurance provides coverage against unintentional loss or injuries to own a vehicle or to a third party. While choosing a vehicle insurance policy, an individual should always evaluate the premiums provided by different insurers to ensure that he or she gets the best pact. The premium amount depends on the make and value of the car, where it is registered and year of manufacture.

Two Wheeler Insurance: It proffers protection to scooters and motorbikes. The characteristics of a two wheeler policy are comparable to vehicle insurance.

Commercial Vehicle Insurance: Commercial vehicle insurance helps all commercial vehicle drivers to reduce losses they might incur due to damage to their vehicle. Here commercial vehicles include those which are not used for personal purposes, like goods carrying vehicles. This would include van insurance.

Third Party Insurance: This policy covers third persons who have been injured in a mishap relating to you and your vehicle. The insured does not get any direct benefit from this policy.

Comprehensive Auto Insurance: With comprehensive insurance coverage, your insurance firm pays for damage caused to your car by an incident other than a crash, such as theft, fire or vandalism. In case, you hit an animal, or your car is stolen or flooded, the coverage will be relevant.

Liability only Cover: It gives third-party accountability cover for physical injuries and damage to property. It also comprises personal accident cover for the driver.

Factors that determine premiums

  • The driver’s age: The youthful and the aged signify high-risk class and pay out more for cover.
  • driving record
  • Make of the car
  • Occupation of the person
  • Geographic location

Additions: What is covered in auto insurance?

In motor insurance, the damages to the car owing to the below risks are included –

  • Strike and riots
  • Robbery and fire
  • Acts of terrorism
  • Quake
  • Landslides
  • Cyclones, floods and storm

Exceptions: What is not covered in vehicle insurance?

Bear in mind that your car insurance will not give coverage in the following situations-

  • If driver is under influence of alcohol or drugs
  • The car is used for unlawful activities or for purposes that are not declared in the plan
  • Not having a valid driver’s license

Why should you purchase motor insurance?

Roads have their rules and directives: Therefore, it is essential to get motor insurance for the protection from accidents or thefts. In Ireland the Road Traffic Act of 1933 calls for all drivers of automatically propelled automobiles in public areas to possess, at least, third-party cover, or to have acquired exception – usually by depositing a (huge) sum of cash with the High Court as a warranty against claims.

“Those anguished due to property loss /damage owing to uninsured drivers can assert against Motor Insurance Bureau of Ireland (MIBI) uninsured drivers kitty, as can persons injured (however, not those suffering loss or damage) due to hit and run cases.”

Those anguished due to property loss /damage owing to uninsured drivers can assert against Motor Insurance Bureau of Ireland (MIBI) uninsured drivers kitty, as can persons injured (however, not those suffering loss or damage) due to hit and run cases.

Regardless of how great a driver you may be, motor insurance is a necessity to acquire. One of the most significant financial choices that you can formulate is to obtain motor insurance in Ireland. Vehicle insurance in Ireland is very vital because it can have massive impacts on your financial life in the future. Acquiring car insurance will definitely cost you in premiums at the beginning of the situation, but it might save you from shocking costs should any occur to you or your auto.

It saves you money

Another important reason for you to purchase motor insurance is the reality that it, in fact, saves you cash in the long term. You may never know the kind of damage your vehicle might have in the possibility that it gets involved in a tragedy. In case, it is something small you might perhaps not feel the pain. Though if the extent of damage is huge it will certainly make you dig deeper into your pockets if your vehicle is not insured! Paying out a small premium each year to avert that sort of loss is an incredibly small charge to pay. You might get some motor insurance premiums that are exceptionally competitive online.

When you request a company for a car insurance quote determine their decency and how well-known they are in the industry. If you get in a position to ask for a claim, you must have the guarantee that they can offer you with the financial security that you need.

It is in no way your fault

You might be an outstanding driver. You can conform to all the road statutes and safety regulations. But, you will also perceive that nearly all the car accidents that you may have been caught up in have more or less has never been your blunder. Does this not offer you reason enough to consider that you ought to purchase motor insurance? In spite of everything only you can manage your actions.

Suggested Car Insurance Companies?

Really, after going through a lot of companies I find Kennco Insurance to be the best car insurance broker / underwriter. They’re very helpful, their CS team is fantastic to work with and they even make it easy to buy online.