Rising insurance costs have led nearly 4 in 10 motorists in Ireland to consider sacrificing comprehensive car cover in favour of a third party or third party, fire, and theft policy according to a survey by AA Ireland.
Some 5.89% of respondents said they chose to switch to third-party cover. Another 18.98% opted to retain their comprehensive cover despite considering the change.
“We have been highlighting the threat of rising premiums since November 2015 and while we have seen some government action on this in recent months there is still a great deal to be done,” said ark Watterson, AA director of insurance.
“We’re a predominantly rural country and, as a result, the car is a necessity for many Irish people. It’s important that our government don’t overlook this fact and continue to tackle the issue of rising premiums instead of viewing the steps already taken as being enough,” he added.
Some 12.67% said that while they had not considered sacrificing their comprehensive cover at the time of their last renewal, they may do so when next renewing their policy, according to the survey of over 3,000 drivers.
When grouped according to age, younger drivers were the most likely to have switched their insurance from comprehensive cover to third party or third party, fire and theft. About 9.59% of those aged 17 to 24 made the change.
“Insurance often tends to be most expensive for younger drivers before becoming cheaper in time as they gain more experience behind the wheel and, as a result, third party cover may well be more suitable and affordable for less experienced drivers,” Watterson said. “As well as shopping around for the best deal, it’s important to ensure you’re purchasing the right cover for you. If you don’t drive regularly, have a low annual mileage, or drive an older car third party cover may be more suited to your needs.”
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