How to buy Car Insurance

How to Save Money on Your Car Insurance in Ireland

How to Save Money on Your Car Insurance in Ireland

Car insurance can be one of the costliest ongoing expenses for motorists, but there are ways to cut down on your premium without sacrificing on your cover. Whether you're an experienced driver or just recently got your license, understanding how insurance works and actively taking steps to reduce costs can save you a substantial amount of money.

Here's a comprehensive guide to help Irish motorists achieve better rates on car insurance while still getting the protection they need.

1. Shop Around

The golden rule of saving money on car insurance? Don’t settle for the first quote you get.

  • Contact a Broker: Brokers like Brady Insurance compare rates from over  20 top car insurers, ensuring you get the most competitive prices and the right coverage. Plus, they advocate on your behalf if something goes wrong so you are not high and dry.
  • Look Beyond Big Names: While major insurers tend to attract attention, lesser-known insurers that typically distribute via brokers, might offer better deals or tailored options for your needs.
  • Use Online Platforms: Start by comparing quotes online. Many providers, including brokers, offer discounts for customers who secure their policies digitally.

Pro Tip: Use this link to get your quote today and see how much you can save.

2. Understand Rating Factors

Car insurance premiums are influenced by several factors. The more you know about them, the better chance you have at reducing your costs. Here's a breakdown of the main factors insurers consider when pricing your policy:

  • Your Address: Living in a rural area can reduce rates compared to urban locations where risks like theft and accidents are higher.
  • Driving History: A good driving record with no prior claims can significantly lower your premium.
  • Occupation: Certain roles are deemed riskier by insurers. Be truthful but use accurate job titles to avoid overpaying (or invalidating your policy). If you have dual occupations such as student/waitress or Farmer/builder, explain to your broker as it can tweak the rating.
  • Car Value and Type: Economy cars with smaller engines typically incur lower insurance rates. The less powerful and safer your car is, the better. Some insurers refuse to quote older cars (15+ years), so if your car is approaching 15 years take this into account. This is because statistically, people are less careful with older, less valuable cars. 
  • Annual Mileage: Keep your mileage within the average (around 10,500 miles annually) to avoid higher premiums.
  • No Claims Discount (NCD): Your NCD builds up over time. The more years you’ve spent claim-free, the bigger your discount. if you have a full NCD and can afford this, we recommend that you protect your bonus.
  • License Type: A full license leads to a lower premium than a provisional one. If you have a foreign licence, consider changing it for an Irish one as you will have access to greater competition from insurers for your business. 

Discussing these factors with a broker can help identify areas where adjustments might save you money.

3. Ask About Ways to Reduce Your Premium

Once you've compared quotes and understand the factors impacting your premium, ask about strategies to reduce your costs. Many insurers allow you to tailor your policy to suit your needs and find savings in the process.

Here are some options to consider:

  • Increase Your Excess: Agreeing to a higher voluntary excess (the amount you pay towards a claim) can lower your monthly premium, though it may increase out-of-pocket costs if you need to claim.
  • Downgrade Coverage: Third Party Fire and Theft policies are less expensive than Comprehensive plans, though they offer more limited protection. Speak with your broker to make sure it’s the right option for you.
  • Smaller and Safer Cars: Switching to a smaller engine size or safer car model can result in significant savings, especially for young drivers. Avoid modifications to your car, as these add to the premium.
  • Reduce Add-ons: If you don’t need extras like replacement car cover, additional drivers or open driving, removing these can bring down your overall price while keeping the essentials intact.

Major Factors That Affect Your Insurance Premium

Every policyholder is different, but these six core factors heavily influence your premium. Here's a deeper look at how each one affects your costs:

1. Age

Younger drivers (especially under 25) typically pay more for insurance because they are considered higher risk. For young motorists, building a positive driving history and opting for smaller cars can reduce these costs over time.

2. Location

Living in an urban area, particularly a high-crime zone, tends to result in higher premiums compared to rural locations. The volume of road accidents and claims in your area is also considered.

3. Occupation

High-risk professions according to claim statistics may lead to increased premiums. Make sure your job title is accurately represented to avoid invalidated insurance while keeping premiums reasonable.

4. Mileage

Driving more than the average annual mileage increases your risk of accidents, which insurers factor into their calculations.

Be precise about your mileage when sharing details with your insurer. Misstatements could lead to denied claims.

5. Driving Experience and No Claims Bonus

More years of driving means lower risks in the eyes of insurers. A strong no-claims history is one of the easiest ways to enjoy discounts and secure more competitive prices.

6. Car Type and Modifications

Choose cars in lower insurance groups (generally small-engine models with advanced safety ratings) to enjoy cheaper premiums. Avoid modifications to your car, as these typically increase costs.

How to Buy Car Insurance

It's easier than you think to find and buy the right insurance policy in Ireland. By shopping online and using a broker like Brady Insurance, you can save both time and money. Here's what you'll need to gather to start the process:

  • Personal Details: Your name, age, and address.
  • Vehicle Information: The make, model, and year of your car.
  • Usage Information: Your car’s purpose (personal, business, etc.) and your estimated annual mileage.
  • Driving Experience: Your claims history and length of no-claims bonus.

Once you submit these details, brokers like Brady Insurance will help you compare policies and highlight competitive options.

Why not get started today? Get a quote here!

Final Thoughts

When it comes to car insurance, knowledge is power. Shopping around, understanding rating factors, and tailoring your policy to your needs can make a huge difference—and even lead to substantial savings. If you're ready to lower your car insurance premium and get a policy that works for you, why not work with a broker who really cares, yes that is us, Brady Insurance.

Our expert brokers will take care of comparing dozens of insurers to find the right coverage at a great rate. Start saving today—your next affordable, reliable car insurance policy is just a few clicks away. Get your quote here.

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