Northern Ireland consumers paying more for car insurance
The average fully comprehensive car insurance premium in Northern Ireland increased by 7% per year to £931. However, in the UK annual car insurance prices reduced by 6% to £774.
Scott Kennerley, Head of Financial Services at The Consumer Council said, “The average fully comprehensive insurance premium in Northern Ireland is now £157 per year more expensive then the UK average. In addition, The Office for National Statistics’ Family Spending in the UK survey shows the average household in Northern Ireland spends over 46%, or £494, per year more on buying petrol and diesel than the UK average.”
“Overall, households in Northern Ireland spend significantly more on running our cars than the UK average. A recent investigation by the Competition and Markets Authority showed that often longstanding and loyal consumers pay significantly more for their services than those consumers who shopped around for the best deal.
“The Consumer Council would encourage consumers to use the following tips to get the best deal:
- Use an online price comparison website - These websites allow you to get multiple quotes quickly. It is best to use a number of sites as no single comparison website captures the entire market and prices vary. Check the policy has everything you need.
- Go direct to some insurers - Some insurers do not use price comparison websites.
- Try an insurance broker - Call The British Insurance Brokers' Association's 'find a broker service' on 0370 950 1790 or visit www.biba.org.uk for more information.
- Haggle - Car insurers often reserve the best deals for new customers and unfortunately often push up the premiums for their loyal policyholders. Therefore, it can pay to haggle with your provider when the time comes to renew your policy. A study by Which? showed that 79% of consumers that haggled with their car insurers got a better deal”
To find out more about getting the best deal for your car insurance, you can download The Consumer Council’s ‘Driving Down the Cost of Car Insurance’ guide from www.consumercouncil.org.uk. You can request a print copy by calling 0800 121 6022 or email [email protected]