Young Drivers Spearhead National Campaign against soaring Insurance Premiums

For too long, motorists in Ireland have been burdened with excessive costs. From Fuel and Insurance to Motor tax and general maintenance. For far too long motorists have been seen as an easy target for taxes. We have to put up with a two-tier tax system. We have to drive on poorly maintained roads which councils are unwilling to accept legal responsibility for. We have to put our cars through a flawed NCT. On top of all of this, our insurance premiums are increasing an average of 35%. 

The situation for motorists is dire. We cannot rely on public transport. We need our private transportation to go to work, and to own our own transport we are backed into a corner by legislation which forces these costs upon us. We have no choice but to pay the tax, we have no choice but to pay for the NCT, we have no choice but to repair our vehicles after the damage caused by unsuitable roads and we also have no choice but to pay extortionate premiums to private insurance companies.

As a result of this, young drivers are spearheading a national campaign aimed at alleviating the costs to motorists. Ireland Underground, a group representing young drivers, are organising a national demonstration in front of Leinster House on the 2nd of July. The primary focus of this demonstration is the cost of insurance.

The issues being put forward are the excessive payouts awarded from claims against insurance companies and poor pursuit of fraudulent claims. The group also asks that the government follow up on issues raised by Liadh Ni Riadha MEP, that noncompetitive pricing practices are in play throughout the industry.

It is also claimed that poor business models have led to the current situation. It is believed that, previously, insurance companies were underselling their premiums and using those same premium payments to purchase bonds in other European countries. Now that this gamble has failed, they are punishing Irish motorists for their failed gamble.

The group would also like to see restrictions lifted on insurance companies from Europe operating in Ireland. Drivers in neighboring EU countries are able to avail of premiums up to 400% cheaper than those in Ireland. Despite the free market, European insurance companies are not permitted to insure Irish based drivers without having an office in the country. 
The group have called on the Irish Government to take immediate action.

"It's gone on for far too long now, and the situation is getting worse by the day, young drivers are laboured with quotes as high as €14,000. Insurance companies are refusing to quote cars older than 15 years old, which are the only cars some can afford to purchase".

The demonstration is scheduled to take place on Saturday, July 2nd at Midday in Dublin.

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