Motor insurance too expensive in Northern Ireland

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Motor insurance too expensive in Northern Ireland

That this Assembly expresses concern about the higher premiums that drivers have to pay for car insurance in comparison to drivers in other jurisdictions; and calls on the Minister of Enterprise, Trade and Investment to hold discussions with representatives of the insurance industry with a view to having insurance premiums brought into line with those in other jurisdictions.
Committees have debated this issue a number of times, and Members have highlighted it in the media. Historically, the high cost of insurance premiums here was blamed on the conflict, or the Troubles, as some people call it. That is why we were hard done by in this part of the world. Other issues have been raised, such as people’s postcodes, particularly in the Belfast area, where insurance companies charged people higher premiums than in other parts of the North. Crime in certain areas was also always brought up as a factor.
The Committee for Finance and Personnel has called for an inquiry

UPDATE 12 October 2011.

The problem still exists if you are buying insurance in Northeren Ireland. The Northern Ireland Consumer Council says insurance premiums are 84 per cent higher than elsewhere in the United Kingdom. Eighty four per cent is a staggering figure.

The Office if Fair Trading has joined in the “why is insurance so expensive” debate and is to report in December 2011.

We will keep a close eye on this question.