Revolut to offer car insurance

I wouldn't touch them for car insurance but if they put downward pressure on premiums that would be a good thing in general.
 
Brendan Burgess said:
Surely car insurance and claims are areas where you actually need to be able to phone someone and discuss it?
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Dealing with the agents of some of the other providers is no better than talking to a chatbot!

When it comes to making a claim, they all just point you to a form and then send out an assessor to inspect. No reason why a chatbot or online form can't achieve that.
 
Revolut will just sell you the policy and take payment.
If you need to claim, you contact Revolut's insurance partners directly.
https://www.revolut.com/en-IE/legal/insurance/
 
In terms of buying insurance, it may be no different then using someone like Chill online. Real challenge will be on how do they deal with changes to cars etc or will the outsource that to Allianz
 
Even the idea of getting my car insurance through Revolut, and then having to deal with Rita, followed by some "nitwit" via live chat, that leaves me on hold for 98 minutes, to then come back and ask me how my day is going, would give me nightmares - there's no way in hell I'd trust Revolut with something like this, even if they are only the broker!
 
Revolut made their announced this last month but nothing since then! Are they offering car insurance yet? Or is their a planned launch date?
 
"A 51 year-old woman living in Blackrock, Co Dublin, driving a 2018 Kia Sportage could pay as little as €300 for the year, Revolut said. The next best quote available now in Ireland is €490, Revolut said, with the average quote among five of the country’s leading insurers coming in at €548."

I have friends and family in that broad bracket not paying anything as high as Revolut claim. So I went to the first google result I could find and put in details for a 51yr old living in blackrock and a 2018 sportage, with 6+ no claims and full licence and got €380 - far from the "next best quote available in Ireland of €490" - and I assume I could find cheaper if I tried, as a close relative in that bracket is paying about €330).. (I don't know the criteria Revolut used for their Irish Independent article (advert) but it seems reasonable to assume full no claims and licence).

What is wrong with journalism (same with bank deposits) - can they not make any attempt to authenticate claims like this? The "next best quote" of €490, and the average quote among 5 coming in at €548 simply isn't true imo.
 
podgerodge said:
"A 51 year-old woman living in Blackrock, Co Dublin, driving a 2018 Kia Sportage could pay as little as €300 for the year, Revolut said. The next best quote available now in Ireland is €490, Revolut said, with the average quote among five of the country’s leading insurers coming in at €548."

I have friends and family in that broad bracket not paying anything as high as Revolut claim. So I went to the first google result I could find and put in details for a 51yr old living in blackrock and a 2018 sportage, with 6+ no claims and full licence and got €380 - far from the "next best quote available in Ireland of €490" - and I assume I could find cheaper if I tried, as a close relative in that bracket is paying about €330).. (I don't know the criteria Revolut used for their Irish Independent article (advert) but it seems reasonable to assume full no claims and licence).

What is wrong with journalism (same with bank deposits) - can they not make any attempt to authenticate claims like this? The "next best quote" of €490, and the average quote among 5 coming in at €548 simply isn't true imo.
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It's probably like almost every insurance provider claiming that they're "cheapest" which is obviously impossible. Maybe cheapest for some very specific case that they choose and bury in the small print.
 
ClubMan said:
It's probably like almost every insurance provider claiming that they're "cheapest" which is obviously impossible. Maybe cheapest for some very specific case that they choose and bury in the small print.
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Hence the benefits that might arise from some real journalism and not copy/paste!
 
podgerodge said:
I have friends and family in that broad bracket not paying anything as high as Revolut claim. So I went to the first google result I could find and put in details for a 51yr old living in blackrock and a 2018 sportage, with 6+ no claims and full licence and got €380 - far from the "next best quote available in Ireland of €490" - and I assume I could find cheaper if I tried, as a close relative in that bracket is paying about €330).. (I don't know the criteria Revolut used for their Irish Independent article (advert) but it seems reasonable to assume full no claims and licence).
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I was curious about this too, I entered those details and got a quote of €523 from 123.ie. I think it's only when we can try some real world comparisons that we'll see whether there's value here.
 
I attach the press release from Revolut

podgerodge said:
What is wrong with journalism (same with bank deposits) - can they not make any attempt to authenticate claims like this? The "next best quote" of €490, and the average quote among 5 coming in at €548 simply isn't true imo.
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To be fair, it seems that Revolut issued a press release yesterday, Sunday.

Journalists are not going to spend the day doing comparisons.

But I am sure that if the press release is misleading, the Indo will publish a correction.

Let me know when your letter to the Indo is published.

Brendan
 

Attachments

  • Revolut_Press release_car insurance (1).pdf
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Brendan Burgess said:
I attach the press release from Revolut



To be fair, it seems that Revolut issued a press release yesterday, Sunday.

Journalists are not going to spend the day doing comparisons.

But I am sure that if the press release is misleading, the Indo will publish a correction.

Let me know when your letter to the Indo is published.

Brendan
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Thanks. Your sarcasm aside on sending a letter to the Indo, I don't just sit on the fence and blather on here, I'm in the middle of a formal complaint with Bunq relating to the reasons they provided for offering lower interest rates here, and other countries ("to comply with logal regulations".
 
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