Health insurance expert Dermot Goode of has warned consumers to expect further increases as thr cost of many health plans have gone up, with some insurers imposing three hikes in 12 months. He said consumers need to be wary of average price rise figures as many plans could increase by double the figures quoted. “When the renewal notice lands, engage with your insurer or adviser to start the review process,” said Mr Goode.

According to manager with, Shauna Fogarty, motor insurance needs for a commercial business are very different from what we expect from our private vehicle insurance. Additional time on the road, the year and value of your vehicle are just some of the extra factors involved in determining the level of protection required.

Dermot Goode of gives tips and advice on renewing your health insurance policy.

According to Dermot Goode of, VHI plan HealthPlus Excess is a good hospital benefits plan costing €1,879 per adult. It covers private in all public hospitals, and semi-private in standard private hospitals subject to a €75 excess per claim, with 90% cover for certain listed cardiac and special procedures in the high-tech hospitals in Dublin (Blackrock Clinic, Mater Private). It is not a corporate plan and therefore does not include guaranteed refunds on outpatient expenses. It is expensive relative to other plans in the market and we would recommend that you review this cover.

According to Jonathan Hehir, Managing Director of, changes to motor insurance documentation policy could have unintended consequences for consumers. “Car insurance premiums are falling, albeit slowly. So if a motorist receives a renewal letter and the premium is €50 or €100 lower than last year, it’s likely that many will believe they are getting a good deal and let their cover renew with the same insurer. Just because it’s lower on the renewal form does not mean it’s the lowest you could get.” managing director Jonathan Hehir explains the potential issue with the introduction of new rules around motor insurance documentation:

“We currently have a situation where car insurance premiums are falling. So if a motorist receives his or her renewal letter and sees that the premium they are being quoted today is €50 or even €100 lower than what they paid last year, then it’s likely that many will believe that they are getting a good deal and let their cover renew with the same insurer.

“Our advice is that just because it’s lower on the renewal form does not mean it’s the lowest premium you could get so it’s still worth shopping around,” he says.

Ireland’s leading health insurance expert, Dermot Goode of, answers your personal finance questions:

According to Mr. Goode, “the first point is you are potentially under-insured compared with your children. The second is the children are insured on a dated “consumer” plan, which is expensive relative to other options. We would recommend you “re-balance” the cover to move the children on to a better-value corporate plan and use the savings to upgrade the cover for yourselves.

According to Barry McCutcheon of Royal London, on the basis that you are not in a company pension, but rather contributing to a personal pension, you are eligible to take out a highly tax-efficient type of life cover called pension term assurance. With this type of plan, you are entitled to tax relief on each monthly premium that you pay. Assuming you pay income tax at a rate of 40%, and your monthly premium is €100, the net cost to you would be €60.

Thousands of Irish drivers are potentially paying up to €1,000 too much for their car insurance, according to new findings by online insurance brokers The finding suggest that of the 82% of households in Ireland with one or more cars, half of these could be overpaying for car insurance.

According to Dermot Goode of, unfortunately, this is not possible with your existing insurer, since they will hold you to your specific renewal date as you are in an annual contract. However, if the renewal is November 1 and you were thinking of switching to a different health insurer, you could potentially set up a new policy with an alternative insurer effective from October 31, to avoid any price hike it was introducing effective from November 1.