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I know everybody is complaining about the recent hike in prices, but take some satisfaction from the fact that people in N.Ireland pay on average twice what people pay on the mainland. Can anybody tell me why there is such a difference ??? Try it for yourself go to an online broker ie theaa.com or elephant.com fill out your details and get a quote for both your home post code and a N.Ireland postcode such as BT9 6AJ (not my post code got from a florist ad on yell.com)
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Terrorism, riots, marches... etc. presumably.
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Just as bad in England, race riots etc!!!
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Remember, we all have two tall buildings in New York to pay for by our next insurance premiums.
HJ
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The qustion is about the huge differnce due to geography, not the general high prices
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Actually the 11th September incident, an oil platform sinking off Brazil (bankrupted several Lloyds syndicates that had NEVER made a loss before), a petro chemical plant exploding in France and the collapse of Independent Insurance.
Going to be a very interesting time...
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Numerous reasons;
1. Higher ratio of serious injury accidents compared to mainland.
2. N. Ireland court system tends to award much higher personal injury
claims than mainland
3. Smaller marketplace for insurance companies and so less competitive.
4. Younger population.........higher ratio of boy racers, hence accidents
5. Higher false claims ie. suspect whiplash claims etc.?
6. A tradition of flouting the law in some areas especially regarding
speed
7. Road network has a lower ratio of motorways.
8. More unlit rural roads
PS. Terrorism claims are not significant.
A high percentage of these claims are met by government
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>2. N. Ireland court system tends to award much higher personal injury
>claims than mainland
Is this a rule of thumb, or is there different legislation??
Also why do no win no fee law companies not operate in N.Ireland, logic would suggest that the mainland would have more expensive claims due to the amount of these companies on the mainland and their intensive advertising!
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I think the problem is that serious personal injuries claims go before a jury whose decision is the AMOUNT of award as well as guilt.
As a result the award tends to be more generous.
A typical jury would never think that their decision would in the long term effect their own insurance.
They just see a big rich insurance company in the dock.
Also insurance companies rather than fight a doubtful case will settle rather than risk more high range legal fees.
Have you read what barristers receive lately?
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Also the abuse of 'LEGAL AID is another factor insurance companies have to face!
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Very topical!!! I assume by your wealth of knowledge you work for an insurance company. Thanks - you have fully answered my question and I have emailed your responces to alot of equaly puzzled people. I have asked this question in many different places and this is the first time I have recieved a sensible answer.
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Graham,
No I do not work for an insurance company.
My opinion of them is that they would readily 'give you an umbrella on a sunny day' [Never helpful if there is a heavy risk]
Also I forgot to mention the lack of public transport is another consideration in high car insurance in NI.
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>Also I forgot to mention the lack of public transport is another consideration >in high car insurance in NI.
How does that figure?
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More private cars on the road per head of population.
More traffic .............more accidents!
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Good choice of word, Moosh: "receive". "Earn" ain't in it. Would that the difference were better understood in the mass media in general.
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Well spotted Roger!
I put in the word 'receive' on purpose to see if any barrister would reply to defend him/herself.
Then again I doubt they ever visit such a practical site as this?
You'd never find them having to work under a greasy bonnet to save/earn a few quid?
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Only additional one that comes quickly to mind....
Larger per insured capita burden/share of MIB & equivalent settlements due to substantially higher percentage of uninsured drivers. (this means more uninsured losses and less insured drivers to spread them over).
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I'm not gonna be complaining in January when I have to renew my policy.
I've had two qutoes already and they are both over £700 less than what I had to pay last year.
Cheers!
I'm guessing its because I'm now a whole year older, and I now have my very own first year of NCD.
I'm a happy chappie, but I bet u err, how do I say this, the more mature members of the backroom still get it a hell of a lot cheaper!
Mark.
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as well as insurance being higher in northern ireland, also the "free insurance" deals that you get with new cars do not apply to northern ireland, or else there is an older minimum age. Not very fair!!!!!
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These 'free insurance' deals were widely offered up until recently. Due to the high take up by younger drivers and subsequent claims they became uneconomic to the insurance companies.
Reasons as mentioned in my last post.
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Kelly Banks wrote:
> Not very fair!!!!!
As I regularly tell my boys, life isn't!
What they don't at all accept is that it is part of my parental responsibility to reinforce this message ...
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It's true m, when you are my age, the insurance companies pay you to be their customer ;-)
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HJ
I think only one of the twin towers was insured. The BBC mentioned this a few days after the attacks ,apparently the insurers believed the chances of both towers being damaged were statiscally small.
But your right though next years insurance will take in account the attacks and i think everyone will see the difference in their premium.
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Surely, more traffic = more jams = slower speeds = less serious accidents?
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Try insuring a decent sized bike anywhere in the UK!
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Moosh is about right with regard to Eire, not necessarily N.Ireland.
The Irish civil claims system is heavily weighted in favour of the plaintiff, who doesn't have to prove a great deal to get a judgement in his/her favour. Insurers are seen as a source of cash , and a 'compo' culture exists all through the south. Awards in court (particularly for injury) are more than double those you would get in the UK , unless you are dead in which case you get half the UK level!
It always the same old story, bigger payouts, bigger premiums.
This effect must surely push up N Ireland premiums due to the free passage of cars from North to South and vice versa
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Mark (Brazil) has the experience and will probably have plenty to add when his time zone catches up. It doesn't matter whether or not one of the WTC towers was not insurered. George W ain't gonna pick up the tab. Big business ain't gonna pay. The World is going to pay, meaning me, you, and the 17 year old down the road.
HJ
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