Insurance rates set to increase

Despite the fall in inflation rates, motor insurance companies in Ireland are expected to increase their premiums in 2009, writes John Cradden

21st February, 2009

Manchester United footballer Cristiano Ronaldo w o u l d have difficulties finding a new insurance company willing to quote him a reasonable price, after he wrote off his Ferrari sports car last month.

As a 23-year old driving a 205mph red Ferrari 599 GTB worth more than €200,000, insurers reportedly said they would be reluctant to offer him cover. Those who were willing quoted figures in excess of €40,000 to €50,000.Thankfully, most of us...

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