Oireachtas Joint and Select Committees

Tuesday, 19 November 2019

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

Tracker Mortgages and Differential Pricing in Insurance: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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I will outline my personal experience of getting my renewal premium. I shop around every year but I have always reverted to the original company to say I have found a better offer, and in fairness it has always matched it. For the sake of not having to change paperwork, I have always found a better quote. On the records of the company, however, I would be considered to have stayed with it for more than ten years. When I got my renewal quote, it was more than €270 higher than the quote on the company's computer. The comparator was there. Like many others, I called the company and asked whether it was the best price it could do for me, but it offered me a 33% lower price for using its website. Is that fair? I accept we would have to outline the details and that there are hundreds of such cases. One of the most rewarding aspects of being a public representative is the number of people who have contacted me to say they have saved money by doing what I have suggested. A young fellow at a public meeting had told five of his friends how to do what I have outlined, and the six of them had saved €9,000 from the same company.