Oireachtas Joint and Select Committees

Thursday, 8 September 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Rising Cost of Motor Insurance: Discussion

11:00 am

Mr. Kian Griffin:

Young drivers have felt ripped off for quite a while because we have always been paying high premiums. My own premium is over €950 this year and some drivers I know are paying in excess of €2,000 for premiums. Some quotes sent in to me were €14,000 or higher. The percentage increase overall is no more or no less than that for older drivers but the end result is a much higher premium, for example, an increase on €900 of 38% is much more than on €200. They definitely feel ripped off for no good reason. Many drivers would see themselves as very safe drivers because they have been driving since the age of 17 and have had five years with no claims. It is just the fact that they are in that age bracket. It is easy to categorise them as a high risk and charge them a higher premium as a result.

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