Insurance In Northern Ireland: Historic Difficulties
|
No doubt most readers will have heard of the Northern Ireland "troubles" or possibly seen some of those ghastly images from the seventies, eighties and early nineties on your television screens. Thankfully the worst of those dark days seem to be over. Unless you are a Northern Ireland resident you probably won't be aware of the impact the "troubles" has had on insurance premiums in that part of the world, especially on motor vehicle insurance rates.
The lawless activities of those times saw a huge increase in vehicle theft for use in criminal activities or to build hastily erected roadblocks, usually resulting in cars, vans and buses being burnt out. So called "joyriding" was then and still is a big problem in parts of Belfast and Londonderry where youths steal cars of all makes and models to race each other on public roads, an unbelievably reckless pastime which has resulted in many deaths of both driver and innocent pedestrian. No wonder then that the major insurance underwriters who were prepared to do business in Northern Ireland charged hefty premiums compared to average premiums in England, Scotland and Wales.
With the advent of the "peace process" and the considerable period of normality that has come about since the mid nineties one would expect insurance premiums to have fallen significantly, however this has not been the case, leading to accusations from some quarters of profiteering on the part of the major insurers. An average automobile premium in England is around £200 ($360) while in Northern Ireland the average is closer to £600 ($1080) in my experience. Seventeen year old newly qualified drivers in Ulster can expect to pay a crippling £2000 ($3600) for their first motor insurance cover.
The underwriters and major insurance brokers retort that driving standards are poorer in Northern Ireland and our shameful road safety record does back this up to some degree. They also cite a higher claims rate and larger accident compensation payouts from the courts as another significant factor contributing to higher premiums in Northern Ireland and this is a valid point.
I personally believe that there has to be a middle ground. High insurance premiums affect us all and have a negative impact on our economy which is only just starting to recover from a long period of conflict. Perhaps more rigorous testing of our new drivers, advanced tests for experienced drivers, tougher sentences for car crime and road safety public awareness campaigns would allow major underwriters to charge less and bring benefit to us all.
George McGonigal
Northern Ireland Insurance Centre
George is webmaster of an online insurance resource for Northern Ireland motorists. We bring under one roof insurers who cover Northern Ireland that can offer online quotations to allow our visitors to compare rates in the comfort of their own homes.Car Insurance Northern Ireland: Competitive insurance quotes online.
|
|
|
Who Else Wants To Understand Travel Insurance Policy Language?
Aren't all travel insurance plans basically the same?No. When you read travel insurance policy language, remember that as with any legal document, the definition of the terms is what governs the working of the policy (including payment of the claim).I create hypothetical travel scenarios for training purposes. This includes contacting our travel insurance suppliers' claims departments to see how they handle a given scenario.A common concern of travelers are Pre-Existing Medica...(related: Insurance)
Car Insurance Rates ? Can You Lower Them?
Car insurance rates are prohibitive nowadays. Many families really struggle to pay the car insurance bill each month. And car insurance rates vary all the time. So if car insurance cost is an issue for you, what can you do about it?
Student Possessions Insurance - Insuring The Contents Of Your Room
In the UK each September, 350,000 new students embark off to university to begin a university ca...(related: Insurance)
Insurance Claim Handling Online - Tpa Adjuster System
Claims management and administration software systems enable insurance claims adjusters, supervisors, and managers to process incidents and administer claims more efficiently and at a lower cost than traditional paper file and transport methods. Some areas that are made more efficient, thus lowering costs, are otherwise insufficient tracking and handling of medical provider billin...(related: Insurance)
Why Dont Women Have Life Insurance?
Traditionally, life insurance companies solicited men as the main breadwinners in a family to ensure, that they had adequate life insurance coverage.Now, times have changed, but the statistics on women show that great percentage of American and Canadian women carry no life insurance. And those that do have a policy, carry about half as much coverage as men do.Most modern U.S. and Canadian households are dual-income households. If you are married, especially if you have children, would your husband be able to afford the family style of living if you were to pass away? If you are single, who would assume the burden of paying for your final costs if you were to pass away? This may fall ...(related: Insurance)
Long Term Care Insurance How Much Should I Buy?
Long-term care insurance policies have a variety of features and it pays to shop around. It is quite easy in the final years of your life to run up extremely large care bills which could threaten your life savings, home and your children's inheritance. Okay some people do not care about their offspring so much as is evident by looking at the bumper stickers of the deluxe Recreational Vehicle Motor Homes; "we are spending our children's inheritance!"You need to ask yourself not only; "How much long-term care insurance shoul...(related: Insurance)
Underinsurance Can Spell Disaster For Homeowners
Insurance is meant to give homeowners peace of mind, but an increasing number of policy holders are putting themselves at risk by neglecting to insure their home and conten...(related: Insurance)
Business Insurance; Information You Will Need
When you start a small business you will need to have insurance. You would be wise to shop around. Triple A rated carriers like Farmers Insurance, State Farm and All State are definitely places to get quotes from, but also be sure to check out your local independent insurance agents as well. When shopping for a quote there is some things you will need to know. For instance you SIC code and business category. If you are involved in more than one, it pays to look at both SIC codes to see which category is preferred by the agents underwriters. Some SIC codes many insurance companies will not even touch. For instance Car Washes, Amusement Parks, Aviation Businesses and security companies. But there are insurance companies who specialize in these areas. Perhaps you might wish to thumb through a recent trade journal to see which insurance c...(related: Insurance)
Health Insurance 101 For Individuals And Families
The changing healthcare and health insurance landscape in the United States has resulted in more individuals and families purchasing health insurance coverage on their own. Rather than touch on the number of reasons why this is the case, I would like to provide individuals and families finding themselves in this position with ten basic ideas to assist them with getting the best health insurance policy for their specific situation. Below is a combination of ten questions and suggestions that will provide the tools necessary to get a medical insurance policy that will best work for you ...(related: Insurance)
Term Or Whole Life Insurance - Which Is Right For You?
One of the most important things you will ever do is to choose a life insurance policy that will provide for your family after you are gone. Choosing the life insurance policy that is right for you and your family can be quite confusing. Do you want term life insurance? Would whole life, or permanent life, insurance be a better choice? Before you purchase a life insurance policy, make sure you understand the differences between the types of life insurance that are available to you.Life insurance is generally purchased as either term or whole life, also known as permanent insurance. While the cost ...(related: Insurance)
site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance