A new report has recently revealed that car insurance companies are charging motorists that live in Derry 70 per cent more than they do drivers living in other regions, experts say.
According to a new interim report released by the Office of Fair Trading, car insurance rates for Derry motorists are much higher than they are for those living in Wales, Scotland, and England. Derry’s drivers have had difficulties getting on the road due to motor car insurance premium prices that SDLP Foyle MLA Mark H Durkan called ‘excessive.’
Mr Durkan remarked that he wants to investigate the source of the high insurance premium prices as he spoke at a Stormont Consumer Council event. The reasoning behind the 40 per cent premium increases in the North must be established, he said, adding that there must be a reason why people living in Derry are being penalised with extraordinarily high insurance prices- and that these inequalities need to be redressed.
Mr Durkan laid the blame squarely on the shoulders of the discount car insurance industry and demanded answers as to why charges were higher in the North. He expressed his vexation with insurers, especially in light of vast improvements being made with regional road safety, as Mr Durkan indicated that fatal road casualty rates have plummeted to their lowest figure since records began being kept.
Insurers cannot point to the legal sector and ‘no win no fee’ legal solicitors for inflating costs on road accident claims in the region, Mr Durkan said, as the practice is not permitted there. People simply need to have access to insurance priced reasonably in order to promote social and economic wellbeing in Derry, he also said.