It may be an unwelcome annual outgoing but drivers in Co Wexford can at least console themselves with the knowledge car insurance in the county is the third lowest nationwide. Insurance experts Chill, have revealed the counties in Ireland with the cheapest and most expensive car insurance and found that Wexford, with an average insurance of €571, has one of the cheapest rates in Ireland.
he county with the lowest average car insurance is Waterford (€549) with Kilkenny (€554) next, followed by Wicklow and Wexford (€571) and Cork (€571). Perhaps surprisingly, Longford drivers pay the most for their car insurance (€783), significantly more than the next highest, Louth (€709) and Limerick (€678).
Ian O’Reilly, Head of Personal Line Sales at Chill, explains why some counties have a higher average figure than others.
“Car insurance premiums take your location into account as living in a city where there is a greater risk of crime and increased traffic, this consequently means an accident or theft is more likely, so as a result, your car insurance premium goes up,” he says. “Similarly, in Ireland, some rural counties have higher insurance premiums than others because of the higher rates of claims.”
The survey also reveals the average price of insurance by age and, less surprising, are the high rates paid by young drivers. Those under the age of 19 pay a whopping €1,987 for their insurance, almost twice that of those aged in the 20-29 bracket (€988). That figure decreases all the way up to the those aged in their sixties (€461) before increasing again for those aged 75 or over (€586).
Even one’s occupation impacts the price of your car insurance and Chill has listed the professions most likely to have cheaper rates. “Your occupation is used by insurance companies as a risk indicator and it can be viewed by different companies in different ways,” explains Ian. “People who work in an office or are considered remote workers may drive less frequently, or have shorter commutes. This means that they are seen as a lower risk to insurance companies and are therefore more likely to receive a lower premium.
“Jobs that are populated by an older demographic will result in a lower insurance premium. A stable work schedule and driving environment can also reduce the cost of your insurance.”
With this in mind those who list their occupation as ‘clerk’ pay the lowest insurance (€480) with the retired next cheapest (€494). Members of An Garda Siochána are next with an average car insurance of €506 while psychotherapists (€516), lecturers (€522) and civil servants (€524) also availing of low rates.
Lastly, the make of the car you drive also influences the amount of insurance you pay with Dacia (€515) drivers enjoying the best rates. Other makes likely to lower your insurance include Kia (€556), Skoda (€567), Hyundai (€572), and Nissan (€580).
“Our findings highlight that Dacia comes in as the cheapest out of all car brands analysed to insure – this is likely because they only sell two models which both appeal to the older demographic. When we compared prices with age demographics, we found that Dacia is the cheapest for over 29s and Hyundai for under 29s. If you’re looking to invest in an electric model, the cheapest brand to insure is Nissan – thanks to the compact five-door hatchback battery electric vehicle the Nissan Leaf,” said Ian.
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.