Higher insurance a rip off - Kelly

Gerry Kelly has welcomed the decision of the Assembly Finance committee to investigate why North Belfast residents have amongst the highest insurance costs in the North.
"The 40% more for our insurance is a rip off. This comes on top of North Belfast people being charged higher fuel costs which we challenged Tesco's on recently,” said Kelly.

“Acting on the Sinn Féin proposal the Assembly Finance Committee has accepted the need for an investigation of the high cost of insurance in the North Belfast.
“It has long been a point of contention that insurers charge clients here disproportionately higher rates than clients elsewhere for similar cover and this is another hidden tax on some of our most deprived communities.

“According to Consumer Council reports clients here pay almost 40% more in total on car, household contents and building insurance.

“Insurance Industry sources justify their higher charges by pointing an accusatory finger at the legal profession fee structure as being the biggest contributory factor in the higher tariffs.

“This aspect will obviously have to influence the remit of any Committee investigation as will the Insurance premiums structure. Now that we have Justice powers transferred to the Assembly the Finance Committee will be able to ask for co-operation from the Justice Committee to ascertain whether the legal system is contributing to these unacceptable inequalities. 


“We would hope that an investigation carried out by the finance and personnel committee will shed light on what the true cost of insurance should be and bring some benefits to customers who are finding it hard to make ends meet in the present economic climate.
“It's a wonder that particularly local car owners can afford to keep their vehicle on the road," said the North Belfast MLA.