A Cavan insurance broker has reacted to new research by UCD, which, says the amount people have to pay for motor insurance premiums is a "postcode lottery". The Irish Daily Mail attached the moniker to the research by the university when it re-produced the data in the newspaper today.
The most extreme disparity uncovered by UCD was car insurance quotes for young men in Longford Town and Glenageary. The average quote for motor insurance for a 25-yr-old from Longford Town is €2,164 while a driver from the so-called "affluent suburb" of Glenageary in South Dublin will be expected to pay less than half of that at €849.
Benny Sheridan of Sheridan Insurances in Cavan says the disparity is nothing new: "I'm not surprised. This is something that's been around for a long time and, maybe the Irish Daily Mail is just shining a light on it now," Mr Sheridan told the Joe Finnegan Show, "County Louth, County Sligo and County Longford, at different times are impacted by different ratings . The people in the insurance companies that set out their criteria and rates will base their premium prices based on information retrospectively so they have a three to five year view of certain age groups."
