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Insurance is the top financial concern for 64% of Irish motorists

Insurance is the top financial concern for 64% of Irish motorists

Findings in our most recent Carzone Motoring Report found that almost half (47%) of motorists claim their insurance premium has increased in the last year. Nearly a third (30%) of Irish motorists opted to switch insurance provider over the past 12 months, while 40% have remained with their insurance provider for over three years. The research also highlights other financial concerns for motorists which include the cost of fuel (17%) and general maintenance (10%). Four in ten (41%) Irish motorists confirm an increase in running costs for their car over the past year, with 35% of motorists spending an estimated €200-€300 a month on running costs for their car including insurance, tax, servicing and fuel.

When it comes to purchasing a car, the report reveals that Irish car owners change their car regularly with 31% buying a new car every two to three years. Over half (58%) of Irish motorists would consider buying a car from the UK, with perceived better value (82%) being the main reason to do so. Despite this, car buyers are still cautious about purchasing a car from the UK with two thirds (63%) saying that buying a car in the UK is too much hassle. Other doubts include the risk involved (35%) and worries about Vehicle Registration Tax (35%).

The Carzone Motoring Report is compiled by analysing data from the 80 million+ car views carried out on Carzone in 2019, as well as an in-depth survey of over 1,500 Irish drivers.

> Click here to view the full report

 

Commenting on the latest report, Karl Connolly, Audience Manager Carzone said:

“Our latest Carzone Motoring Report is our eleventh edition, where we examine trends and changing behaviours of Irish motorists. The research highlights the financial concerns of Irish motorists and confirms that insurance premiums are still a top concern, with half of the respondents seeing their premiums increase in the year.”

Carzone - 09-Mar-2020