If you live in Northern Ireland, have read the newspapers or watched television in the last three decades, you’re well aware of many of the troubles and problems that have taken place there. These historic difficulties have really taken a toll on Northern Ireland insurance companies, particularly those offering motor vehicle insurance.
With all the civil unrest and hostility that took place in Northern Ireland from the seventies through the nineties, motor vehicles played a large part in crime. Many vehicles were bombed or used as bombs, which caused a lot of damage that auto insurance companies had to cover. Vehicle theft was at an all-time high during this period with many used for criminal activities, as roadblocks only to get smashed and destroyed, for joyriding, racing or just plain old reckless driving.
Many of the vehicles were stolen for the sole purpose of joyriding recklessly. All of these dangerous driving activities cost the auto insurance companies a lot of money in claims, which resulted in the elimination of auto insurance by many companies. Those that did continue to offer motor vehicle insurance offered it at extremely high premiums, almost higher than the average individual could afford to pay.
No doubt, most readers will have heard of the Northern Ireland “troubles” or possibly seen some of those ghastly images from the seventies, eighties and early nineties on your television screens. Thankfully, the worst of those dark days seem to be over.
Unless you are a Northern Ireland resident you probably won’t be aware of the impact the “troubles” has had on insurance premiums in that part of the world, especially on motor vehicle insurance rates. Insured individuals could go to Scotland, England and Wales and find much lower premiums.
With the outbreak of peace seen and found in Northern Ireland in recent years, more insurance companies are willing to provide auto insurance once again. However, it almost appears that not all of the “dust has not settled” completely as insurance premiums have gone down near as much as consumers would expect.
Even though auto insurance is the insurance that was affected the most from Northern Ireland’s historic difficulties, other insurances in Northern Ireland are higher than they are in other areas as well.
The reasons for these high insurance rates vary depending on whom you ask. Insurance companies state the reasons are high claims rate, poor driving standards and lack of safety on the roads. They also claim that the courts are ordering larger payouts in lawsuits against the insurance companies.
While all of these reasons play a part in Northern Ireland residents having to pay such a high price to drive, when will it all end for these residents? Their main concern is when they’ll be able to comfortably afford to drive once again.