Rip-off home insurance hikes must end, says Doherty

Donegal Deputy Pearse Doherty has called for a government intervention on rising home insurance rates.

His comments follow a warning by the Consumers’ Association of Ireland that premiums have jumped by almost 22 per cent in the last year.

Teachta Doherty said that many homeowners have been shocked by excessive increases.

“This is an issue that I have raised directly with the representative body of the industry, Insurance Ireland, in recent weeks.

“While the sector argues this is due to inflation, it’s hard to see how this would justify what are in some cases double digit percentage increases where customers haven’t made claims.

“This is happening at a time when households are already under huge pressure from the cost of living crisis. Mortgage interest rates, childcare costs, grocery bills and more are mounting up and families simply can’t afford another crippling cost.”

Deputy Doherty, who is the Sinn Féin spokesperson on Finance, called on Minister of State at the Department of Finance Jennifer Caroll MacNeill to take action and force firms to freeze the price hikes.

“Homeowners feel ripped-off and they need to know that these high bills won’t continue,” he said.

“The Minister must intervene directly with the sector to ensure that costs come down to affordable levels without delay.”

Rip-off home insurance hikes must end, says Doherty was last modified: July 17th, 2023 by Rachel McLaughlin