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Information : Motor Insurance |
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It is a criminal offence in Ireland to drive a car that is not insured. The minimum requirement is third party cover. This will cover anybody suffering a loss or injury because of your driving. You should get your renewal notice for your car insurance at least fifteen days before your cover expires this gives you the chance to shop around for cheaper car insurance or just a better deal if possible. Take advantage of this law. Just because your current insurer has a list of discounts that they are giving you written on your renewal letter don't assume you are getting the best deal.
In Ireland there are two main ways of buying car insurance. You can:
- buy directly from an insurance company; or
- buy through an intermediary, such as a broker.
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for an online motor quote... |
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What types of Car Insurance options do I have? |
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There are three basic levels of car insurance:
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Third-party cover - this pays out for claims that other
people make against you for damage or injury caused by your driving.
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Third-party, fire and theft cover - in addition to
third-party cover, you can claim for loss or damage to your own car as a result of fire or theft.
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Comprehensive cover - this gives you third-party, fire and theft cover
and also covers damage to your car, even if you caused it. It usually costs more than basic cover but can have added benefits such as:
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Windscreen and glass cover. |
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Cover for damaged or stolen personal belongings - this usually applies to items stolen from a locked boot or glove compartment. The amount you can claim depends on your policy.
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Breakdown assistance. |
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Third party cover on other cars. |
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Replacement of car due to accident or breakdown.
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You should always check your policy for details about what it covers.
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Extra benefits |
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Check out the different options you can add on to your policy. Obviously there is an extra cost, but some of the options available should be seriously considered. For example breakdown cover can be very helpful and usually for an extra 20-30 euro on your policy for the whole year you can call a dedicated number if you breakdown and
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No-claims discount protection for fire and theft - this lets you keep
your no-claims discount even if you claim for fire or theft (some insurers may include this at no
extra charge).
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No-claims discount protection for all claims - this allows you to
have a set number or value of claims within a certain period and you don't lose your no-claims discount.
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"Step-back" bonus protection - unlike full no-claims
discount protection, if you have a claim you lose part of your discount, but not all of it.
For example, you might lose 20% of your discount.
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Named driver on your car - the amount of extra premium you pay to
add another person on to your policy will depend on their age, gender, driving experience and the
type of license they hold.
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Open driving - this means that other people driving your car
with your permission are covered by your policy as long as they hold a valid license.
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Driver personal accident cover - this provides limited cover for
death or loss of sight or limbs as a result of a car accident.
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Most car insurance policies include an 'excess' clause under which you must pay the
first portion of any loss or damage to your own property, usually up to a few hundred euros.
You will not be able to claim for amounts less than the excess. The higher the excess, the lower
your insurance premium should be.
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How do I reduce the cost of my Premium? |
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There are a number of factors, which will affect the cost of your car insurance.
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If you are driving an older car that may not be worth very much think about reducing cover to third party.
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It is more important to shop around for the best deal at renewal time or before. This can seriously reduce your premium. Buying or more especially researching car insurance online has become more and more popular in Ireland over the last few years. Online quotations usually have some basic assumptions that you should read before continuing with your quote.
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If you have more than one vehicle or your spouse has a car also, consider insuring all your vehicles with one company to take advantage of multi-car discounts.
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Enquire about discounts if you are buying different lines of insurance from the same company.
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If you have a provisional pass your test and get your full licence this will give you cheaper car insurance.
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Make sure to ask about getting a discount for air bags, Alarms immobilisers and similar equipment.
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Make sure to mention your no-claims discount - if you have the full five-years no-claims bonus, this could cut your premium by about 50% or if you're lucky even higher.
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If you have not bought your car yet think seriously about getting a car with a smaller engine size as the motor insurance company will usually give you a cheaper quote. Not only this but you should save money on petrol to. Maybe tax also if your car is deemed as economical under the new tax rates being introduced into Ireland in the next few months.
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If you use your car for business use sometimes check if this can be deemed as occasional business use as some companies not charge extra for this.
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Make an older, less valuable car the primary transportation for younger drivers in your household.
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Last and not least drive carefully and keep to the speed limits, not only will this save lives but it reduces the chance of you getting penalty points on your licence.
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