Re: car insurance - cheaper for male/female as named driver
Fact File on Car Insurance.
Only 6% of those who drive regularly are under the age of 24, as compared with the European average of 14%. (Source: Government's "Road to Safety" 1998 - 2002 report).
Average Car Insurance in 1998 was €609 (IR£480). Some young drivers are paying over ten times that amount. (Source: Automobile Association )
The Irish Insurance Federation says the relative claims cost for young drivers (17 to 24) are less than twice what they are for the 36 to 40 age group. ( Source: Irish Insurance Federation Factfile, 1998 )
42% of insurance premium is spent on legal and administration costs in Ireland. Across Europe the average is 10%. In Sweden where very few cases go to the courts, it costs 2%. ( Source: Department of Enterprise, Trade and Employment (DETE) Working Group Report on Personal Injury Compensation )
Irish accident rates are half what they are in Portugal and equal to the European average, yet drivers in no other EU country pay more for motor insurance than Irish drivers. (Source: National Roads Authority - Young Drivers Accidents Report 1997 )
The motor insurance fund in Ireland in 2001 was €1.2billion. Sweden with 10 million people and a higher density of cars had a fund of €520million in 1996. (Source: Department of Enterprise, Trade and Employment (DETE) Working Group Report on Personal Injury Compensation )
The following are a few examples of how much young people are paying for car insurance
21 year old David Green is paying €4,430 to insure a Honda Civic despite never having a crash and a one year no claims bonus.
A fully qualified 21 year old Aer Lingus Airline Pilot is paying €6,602 to insure his Audi A3 1.6l. He is trusted to fly an Airbus jet aircraft but not to drive a car!
A 22 year old driver with a full driving licence from Rathfarnham was paying €2,831 (IR£2,230) to insure a 1300 cc Mazda 323. He had a crash and was re-quoted £4,300 to re-new his policy.
A 24 year old driver is paying €2,400 to insure a Fiat Punto. Despite having four years no claims driving experience, his insurance increased by €630 this year.
Total Premium income for all Car Insurance Companies trading in Ireland during 1997 was €902 million. €780 million was paid out in claims (Source: Department of Enterprise, Trade and Employment (DETE) Report, 1997)
British drivers lodge more claims than Irish drivers, but on average the Irish claims are over four times higher (Source: Deloitte & Touche Economic Evaluation of Insurance Costs in Ireland, 1996)
Only three motor insurance companies based in Ireland will insure young drivers (Usually under 27) (Source: MIJAG )
The average age of the workforce at Irelands largest factory (Intel) is 23 and most must drive to get to work (Source: Intel Ireland)
MIAB Report attached: Recommendation number 17 is a good one!