LOCAL car insurance has risen by more than 20 per cent as motorists in Fermanagh continue to be hit hard in the pocket.
Petrol and diesel prices have been on the rise again recently, and new research shows that car insurance premiums are no different.
According to the Association for British Insurers (ABI), a trade body, the average premium for comprehensive motor insurance rose by 21 per cent over the last year. This is the highest it’s been since the ABI started collecting data in 2012.
The research noted that younger drivers especially were feeling the pinch. These consumers, who are aged 25 or below, saw average quoted premiums rise by over 66 per cent in the year to August.
Last month it was reported that a Belfast teenager was quoted as much as £8,000 for car insurance after passing his test.
“Part of the reason for rising motor insurance costs are due to increased costs of raw materials, repairs, and even paint,” Dessie Dolan, managing director of Lochside Garages in Enniskillen, said.
“Premiums definitely have increased, but again that is a knock-on effect because everything has increased when it comes to keeping a car on the road.”
The average cost for comprehensive car insurance now sits at £511 here, according to the ABI. It said the average returning customer faced a £36 increase compared to the previous quarter, making their premium £471.
Comparison site Compare NI found more than a 50 per cent surge in customers to their site since the start of the year, as people hunt for savings due to the soaring cost of repairs, parts, and even hire cars add to the spike in premium prices.
“The engine size for example isn’t the only factor which can push up premium prices. Location, car modifications, and previous penalty points and claims can all factor in,” Ian Wilson, managing director of Compare NI, said.
“There are always ways to save, and using a comparison site is an ideal platform to compare products, to make sure you’re getting the cover you need, at a price you can afford.”
Comparison sites like Quotezone (www.quotezone.co.uk) are ideal platforms to compare products, to make sure you’re getting the cover you need, at a price you can afford.
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