Niall’s virtual diary archives – Thursday 15th December 2016

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Thursday 15th December 2016: 4.22pm. We are now a two car family! Just finished up there converting our insurance from a single policy with Megan as a named driver since 2009 into two separate policies. My car is now the black year 2000 Focus and I'll be selling the new blue 2011 Focus to Megan for one euro, with her being insured on that car in her own name for the first time in Ireland. In fairness Allianz our insurer for the past two years wasn't too punishing, total insurance cost fully comprehensive for the two cars for 2017 was €1,356 with €911 of that for Megan and €445 of that for me. The reason for the disparity is that in Ireland, like in the UK, for your initial years getting motor insurance you must "buy in" to the system by paying far more premium annually, with the extra premium paid reducing markedly each additional year of not claiming. For the last few years car insurance in Ireland, like rent prices, have been increasing 15-25% per year and indeed the insurers, like many landlords, simply refuse cover/housing entirely to large chunks of the population deemed risky. Megan never having had insurance before could have been very expensive, I had been seeing quotes of €3000-3500 for her, but Allianz were happy to convert her seven years of named driver history into half that in no claims discount. That brought down her premium to under a grand and into affordable territory. Next year or so she'll be paying a good bit more than me each year, but once you've bought in five years with no claims then many more insurers will quote you and premiums drop very substantially due to the better competition. Still, can't complain with Allianz, it's so rare to feel pleased with a motor insurer. And more importantly, I finally get freedom to go where and when I want on my own, plus Megan can take a lie in instead of driving me to work everyday. Independence for everybody!!!

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