A car insurance policy in Ireland has been extended through to 2019 with more details on what the policy will cover, and what the premium will be.
More than 5 million customers have now signed up for the policy, and this includes almost one in three people aged between 25 and 64, according to figures released today.
The policy covers all the essential elements of a car, from the engine to the chassis, but with an added element of security.
The policy covers three basic types of car insurance, which cover the driver, their passenger, and any passenger, but the key feature is that there is a comprehensive package, covering the car’s driver, the passenger, their belongings and even the roof.
The car insurance companies in Ireland are in talks with insurers in other European countries about extending the policy across Europe.
A number of other car insurance providers have also signed up to the new policy.
It will be available in the next few weeks in Ireland, Belgium, Switzerland, Germany, Austria, the Netherlands and Norway.
The new policy is aimed at improving the availability of coverage across Europe, said Dr John McManus, a policy adviser at car insurance company CarInsurance Ireland.
“The new Irish insurance policy has been designed to help consumers who do not have sufficient car insurance coverage in their home country, or who have had their premiums cut in the past,” he said.
“It is the first time that we have had a policy with such comprehensive coverage, which is important for the long-term health of the industry.”
The policy also covers people travelling outside of Ireland for more than 30 days in a year, including for a business trip.