This week,the Democrat sought motor insurance quotes from three different insurers for three different local towns - Dundalk, Ardee and Monaghan, and the results are astounding.
Quotes from all three insurers showed that Monaghan is the cheapest town out of the three, followed by Ardee, with Dundalk being the most expensive town to get car insurance.
We can also reveal that depending on where your home is located can mean a price difference of up to €200.
We received quotes for a 25-year-old male, driving for five years and holds a full driving licence on a 2006, 1.6 litre Toyota Avensis and the price difference has raised eyebrows with local councillors.
Independent councillor Jim Ryan told the Dundalk Democrat of his dismay of the “scandal.”
“It’s a scandal, we need an explanation as to why these price differences occur. It’s like a lottery at the moment in the insurance market. I can’t understand it at all, there is no reasoning in it,” said the councillor.
Meanwhile, Fine Gael councillor Jim Lennon told the paper “It shouldn’t be like this. It’s one of them bills I hate paying.”
Also, it is beginning to emerge that insurance companies are starting to hike the premiums for women, ahead of new EU rules that will ban gender discrimination from December.
Currently, women drivers pay significantly less for insurance than men, as statistics show women drivers to be less risky than drivers. From December, an EU ruling means that companies will not be able to charge different rates to men and women.
It’s believed that there will be an increase of up to €100 by the end of the year for women driver, when the new rules come into action.
Some insurers reckon there will be an 11 per cent increase in motor premiums for young women drivers while others estimate that the price hike could be as much as 25 per cent.