Deputy Charlie McConalogue says a new update on the cost of motor insurance will do nothing to appease drivers who are forking out hundreds, and in some cases thousands of euros on premiums.
The Quarter 1 Update on the Report on the Cost of Motor Insurance was published this week, although many of the recommendations will not be implemented until later in the year.
Donegal Deputy McConalogue said the publication of this update is nothing more than a PR exercise from a Government which is “obsessed with spin.”
The Inishowen TD said the cold hard reality of the situation is that this document will do nothing to curb costs for motorists who are already paying well over the odds for insurance.
“Despite the fact that premiums have risen by 11% in 2014, 30% in 2015 and a further 12% in 2016, Fine Gael had to be forced to acknowledge that there was a problem within the motor insurance industry. By contrast, this is an issue which Fianna Fáil has been active on for years, bringing forward a number of policy documents and Dáil motions, which resulted in the establishment of the Cost of Insurance Working Group.
“The publication of this update was not only surprising, it was also questionable as many of the recommendations of the report will not be implemented until later in the year, or possibly not until 2018.
“Too many people are being asked to pay more and more for their motor insurance –I regularly have people contacting my office with exorbitant premium quotes. These are costs that are eating away at people’s disposable income, leaving many families, older people and business owners questioning whether maintaining a car is a worth it.
“At least three of the Working Group’s recommendations have yet to be completed despite agreed timeframes being put in place, especially those which would have a real effect on reducing premiums, such as establishing a national claims information database, which won’t be completed until Quarter 2 of 2018.
“Minister Eoghan Murphy needs to get his priorities right and ensure that these measures are implemented in full and without delay. Motorists cannot afford to be facing into larger premium increases over the coming years – it’s deeply unfair and must be tackled”, concluded Deputy McConalogue.
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