Where you live can have a dramatic effect on your insurance premiums

New findings released has shown that people living in certain areas of Ireland are

paying a considerable amount more for motor and home insurance compared to other parts of the country.

Car insurance prices were investigated with a study based on a female driver aged 40 years old who drove a 2008 four-door Ford Focus LX 1.4L worth 15,000.

The woman was fully comprehensive insured, with no claims made or points on her licence. She drives less than 10,000 km a year, has five years no claims bonus with full bonus protection and has on-street parking.

Dublin residents fitting this description would be paying a huge amount, with the dearest insurance quoted for those from the Dublin 7 area, who would pay 714 a year.

Outside of Dublin, the next most expensive area was Co Louth at an average 705 a year, then Co Longford 677 and Cavan at 660.

The study also looked at two couples from Co Louth and Co Dublin and examined the price of home insurance both would be quoted.

Both couples were in their 40's and living in a three-bedroom semi-detached house that costs 220,000.

The research showed that the couple from Louth would have to pay 658 a year for home insurance, which is 314 more than the couple living in Dublin who would pay just 344.

Co Westmeath was the second most expensive area to get home insurance for the same type of house, with a premium of 540 a year being quoted. Kilkenny was the cheapest place where it would cost 297 a year to insure a similar home.

One home insurance expert said of the findings, "Insurers have very sophisticated geo systems that track things like crime, flood and storm damage. Certain areas of the country would be a write-off in terms of even getting insurance due to flooding risk, like Clonmel in Co Tipperary and parts of Co Galway."

Residents of Dublin certainly seem to get a good deal for insuring a three-bedroom semi-detached home, with most expensive area of the city being Dublin 4, where occupants pay on average 400 a year.

Where you live can have a dramatic effect on your insurance premiums

By: Rochelle Martinez

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