Car Insurance in Ireland, what are your options?

 

Car Insurance in Ireland, what are your options ?

Wexford Insurances will always strive to supply you with the motor insurance policy that best meets your insurance and budget needs.

As insurance brokers Wexford Insurances take the work out of your search for the best Motor Insurance policy for the best price. It is likely you will have heard people saying that they got a great price for their insurance but this can be misleading. Unfortunately not all insurance policies are the same and in a lot of cases if there is a big difference in price then there is going to be a big difference in the level of cover the policy will provide. This is where Wexford Insurances excel, we know what different insurance companies see as important when setting the premium for each policy. This knowledge allows us to find the best possible level of cover and price for each client from the most suitable of the 25 insurance companies that supply us with Motor Insurance.

 

Types of Car Insurance available in Ireland:

Third Party Insurance -

This is the minimum level of cover required by law for any vehicle being driven on the public road in Ireland. Third Party Only covers protects’ you against any claim taken by a third party for damage or injury caused by the insured vehicle while it is being driven by the insured driver/s.

Third Party Fire & Theft Insurance -

This type of policy covers your legal obligation for third party insurance as mentioned above and also will pay you a replacement value for the vehicle should it be stolen or written off due to fire damage.

Comprehensive Insurance -

With this type of policy you will receive all of the cover mentioned above and also some or all of the covers below depending on which insurance company underwrites your policy:

  • Cover against theft of property from the vehicle
  • Some insurance companies offer personal accident cover for serious injury or death of the insured either as standard or as an add on to their comprehensive policies
  • Accidental damage to the insured vehicle.
  • Some insurance companies offer the use of a replacement vehicle while the insured vehicle is repaired after an accident.
  • Windscreen Damage. Most insurance companies will cover windscreen damage without deduction of excess or loss of no claims bonus.

 

Definitions of key words or phrases you may find in your insurance documentation, please refer to the relevant parts of the policy for details.

•      Certificate of motor insurance – Evidence of the existence of motor insurance as required by law and         which forms part of your motor policy.
•      Emergency treatment fees – Payment for charges prescribed by the road traffic acts for emergency           medical assistance following an accident involving a car which is covered under the insurance.
•      Excess – The first amount you will have to pay towards the cost of a claim for loss of or damage to           your car, whether or not the incident giving rise to the claim is your fault.
•      Fire – Fire, lightning, explosion or self-ignition.
•      Malicious damage – Damage caused to your car as a result of an intentional or reckless act by a               person not covered by this policy.
•      Market value – The cost, in the reasonable opinion of the insurance company’s motor engineer, of             replacing your car with a car of the same make, model and pre-loss or damage condition,                           specification, mileage and age.
•      Motor policy – The documents consisting of your statement of insurance, your policy summary, your           motor policy book, your certificate of motor insurance and any Special terms and conditions in-force           under the policy.
•      No claims discount – The reduction the insurance will allow in your premium in return for not making           a claim, or where no unrecovered payment is made to you or a third party.
•      Period of insurance – The period shown in your statement of insurance and certificate of motor                 insurance for which the insurance company have agreed to cover you and for which you have paid           or agreed to pay a premium.
•      Personal Accident Cover – May be offered for an additional premium on some comprehensive car               policies.
•      Personal belongings – Property which is worn or used and capable of being carried with you in                 everyday life and which belongs to you or any passenger in your car.
•      Policy Wording – Detailed information regarding all of the sections of cover that may apply to your             insurance policy.
•      Protected NCD – Your insurance company may allow you to pay an extra premium to protect against         the loss of your no claims discount in the event of you making a claim.
•      Road traffic acts – Legislation which includes details of the minimum cover for which motor insurance         is required under “The Road Traffic Act 1961 as amended from time to time”.
•      Schedule – The schedule is part of your insurance policy and contains details of the vehicle/s insured         by the policy, drivers and driving covered, the period of insurance and the section/s of the policy               wording that apply to your policy.
•      Special terms and conditions – A change to your details which forms part of  your motor policy.
•      Statement of insurance – The document giving details of the period of insurance, your cover, the               premium and the policy number. The statement of insurance includes all the information you                     provided when we prepared your quotation and forms the basis of your contract.
•      Theft – Theft, attempted theft or the taking away of your car without your consent.
•      Total loss – Where your car has been damaged beyond economical repair or it has been stolen and           not recovered.

 

Factors Most Likely to Affect Your Motor Insurance Premium:

When you are applying for Motor Insurance there are a number of things that insurance companies look at when they are setting a premium to be charged;

  •            Type of vehicle to be insured
  •            Age of vehicle to be insured
  •            Engine size of vehicle to be insured
  •            The location in which the vehicle will normally be kept
  •            Type of cover required (T.P, TPF&T or Comprehensive)
  •            Class of use (Social & Domestic, Business or both)
  •            No Claims Bonus or Driving Experience held by the insured
  •            Number of Drivers
  •            The Age and Driving Experience of Drivers to be Insured
  •            Type of Driving Licences held
  •            Confirmation of any penalty points held by the insured and any additional drivers

Important:   Your insurance policy will be “written” based on the details that the insurance company receive from you.  Any incorrect or missing information may lead to the insurance company not paying out for a claim. The insurance company may also have the option of repaying your premium and cancelling the policy from inception (it’s start date) should they become aware of any information that was falsely supplied or deliberately omitted by you. Under Irish law this will be seen as if the policy never existed and may lead to prosecution for driving without insurance.

 

What we will need to know when you apply for motor insurance:

  •             Your name and address
  •             Your date of birth
  •              A copy of your driving licence front and back
  •              Proof of your “No Claims Bonus” if any
  •              Confirmation of any penalty points held by the insured and any additional drivers
  •              Whether you have had any motor insurance claims or motoring convictions in the past
  •              The name, address and date of birth for any additional drivers
  •              A copy of each driving licence front and back for any additional drivers
  •              Whether any additional drivers have had any motoring convictions in the past
  •              Make and exact model of the vehicle to be insured
  •              Year of vehicle manufacture
  •              Estimate of present value
  •              Engine capacity
  •              Registration Number
  •              Whether the car has been modified
  •              Confirmation that the vehicle is registered in the insured’s name (in the case of a claim,                    proof of an Insurable Interest or ownership of the vehicle will be required, failure to                          provide this will likely lead to the claim being denied)

 

What we will need to know if you are changing your vehicle:
         

  •            Year of make
  •             Estimate of present value
  •             Engine capacity
  •             Registration Number
  •             Date of Purchase
  •             Whether the car has been modified
  •             Date insurance of current vehicle is to cease
  •             Confirmation that the vehicle is registered in the insured’s name (in the case of a claim,                     proof of an Insurable Interest or ownership of the vehicle will be required, failure to                         provide this will likely lead to the claim being denied)

 

What you need to know if you are driving your vehicle abroad:

To insure your current level of protection is maintained for travel to any other country outsideIrelandand theUK, you must let us know before the trip. We shall need to know the dates of your trip and the countries you shall be visiting. We will tell you if there is an additional premium and issue a Foreign Use Extension which may include your insurance company sending you:

  •             Confirmation of the dates and countries to be visited
  •             Claims procedure notes – what you should to do if an accident occurs while you are abroad
  •             Accident statement form – so you know what information to collect at the scene of                           the accident
  •             A list of Claims Settling Agents’ – so you know who to contact in the countries you plan                     to visit in the event of an accident

 

Green Cards are not necessary for travel in most European countries. For travel to a country which still requires a Green Card to be issued, this will also be included at no additional expense. You must remember to take your Policy and Certificate of Insurance with you.

 

It should also be noted that many motor insurance companies will only cover vehicle travel outside of Ireland and the UK up to the minimum legal requirement in the Country in which you are travelling. For example if some one in Ireland with comprehensive insurance is driving their vehicle in France they may only be insured up to the French minimum insurance requirement of Third Party Cover.

If you would like any more information please do not hesitate to contact our office.


 

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