5 Questions To Ask Your Car Insurance Company That Could Save You Hundreds of Euros On Your Premium!

Irish law requires that you have at least third-party motor insurance when driving in Ireland. Traditionally, even this basic level of insurance has been very expensive. However, in recent times, prices have dropped considerably, primarily due to increased competition in the marketplace. However, while it's very tempting to purchase car insurance on the basis of price alone, you should still ask the following questions, before you hand over any money:

1. If your car is written-off, how will the insurance company decide on the replacement value of the vehicle? (Beware: the replacement value of your car may be far less than the value you think it's insured for!)
2. How much excess are you willing to pay for both total and partial loss? (If you agree to a higher excess, your insurance company may actually lower your premium... but could you afford to pay the excess in the event of an accident?)
3. How will your insurance policy be affected if you are involved in an accident that isn't your fault? (Will they hike-up your premiums, even if somebody else was responsible?)
4. Are your comprehensively insured for driving both your own car and other people's cars? (What happens if you loan your car to someone else? Will this nullify your cover?)
5. Will your insurance company offer you a courtesy car and, if so, what type of car will it be, and under what circumstances can you get one?

You should also make sure your insurance policy will cover your needs. For example, if you travel abroad in your car on a regular basis, will you still be covered? And, if so, for how long?

Never assume you're covered for any particular scenario. Always check your policy and statement, or ask your insurance company or broker directly, if you're not sure. You should also ask if you qualify for any discounts, or if there's anything you can do to lower your premiums, preferably without affecting the quality of insurance cover you have.

Even if you already have car insurance, you should still review your policy every time it comes up for renewal. Some of the reasons for doing this include:

• You recently passed your driving test and got a "Full" driving licence.
• You need to increase (or lower) your level of cover.
• You want to add (or remove) a named driver from your policy.
• You've changed your car, your job, or your address.
• You have modified your car in some way (such as changing the engine to a larger/smaller size).
• You have over-estimated the value of your car.

Also, remember that new insurance companies are now entering the Irish market on a regular basis, offering better prices, and forcing existing insurance companies to change their prices in response. For this reason alone, getting quotations from other insurance companies every time your policy is due for renewal could save you hundreds of euros a year.