Cork has one of the lowest insurance premiums in the country according to a new report.
Figures compiled by Cork-based insurance brokers, Chill insurance have found County Cork to be among the cheapest in the country for the price of car insurance.
The average car insurance premium in County Cork is €579. County Waterford maintains the cheapest insurance price at just €549.
Munster has the lowest overall premium price at an average of €607.
Speaking as to how exactly car insurance premiums are calculated, the report stated that your location plays a key role in your insurance price.
Those living in Cork city may find their premium higher than those living in the County, however, as insurers analyse where there is a greater risk of crime and increased traffic.
Subsequently, this means an accident or theft is more likely, so as a result, your car insurance premium will increase.
In Ireland, some rural counties have higher insurance premiums than others because of the higher rates of claims.
Research has shown more rural counties; Longford (€783) and Louth (€709) in Leinster, have some of the highest customer prices.
“Car insurance is dependent on a combination of factors. Insurers will look at a few components including; your age, the type of vehicle you are looking to insure, your current job title, your claims history, postcode, annual mileage, and any additions you may choose to make on your car,” Head of Personal Line Sales at Chill, Ian O’Reilly said.
The report also offered up some statistics on the cheapest cars to insure on average, with Dacia (€515), Kia (€556) and Skoda (€567) making up the top three.
The best occupations to obtain cheap car insurance were clerks, those working from home and in offices, Gardai and retirees.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.