Insurers set rate for penalty points

THE cost of motor insurance can increase dramatically if you have incurred penalty points.

In its third survey of insurance costs, the Irish Financial Services Regulatory Authority says the increase can range from company to company, but some insurers are applying a set rate for every point.

It gave the example of a fictional 52-year-old living in Kilkenny, who had incurred six points on a 2002 Audi 1.8 Estate, and was quoted €1,119 by Allianz and just €565 by Quinn Direct.