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Used car values and your insurance policy

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By John Healy of Healy Insurances

According to some recent surveys used car values have increased substantially over the past two years.

A survey from Cartell.ie, an automotive data supplier, showed the average second hand car is worth 16% more now than last year. A second survey completed by DoneDeal confirmed used car prices are nearly 50% higher than they were before the pandemic in January 2020.

The analysis from DoneDeal, in conjunction with Trinity College and NUI Galway, found that in the three months to June, used car prices have increased by 10.6%. Not only that, but the research indicates that prices are still increasing and the rate appears to be speeding up.

What is driving this increase?

It is a combination of factors including Brexit and the trade issues that have been created as well as the continuing supply chain challenges brought about by the pandemic.

In addition, lead in times for delivery of new vehicles have been extended primarily due to a global shortage of microchips.

There has also been a huge decrease in imported vehicles from the UK since Brexit and this is certainly adding to the price inflation.

From an insurance perspective most insurers operate on a pre-accident value format in the event of a claim. The pre-accident value is calculated by the assessor based upon market trends and so should take into account the current spike in prices. However, some insurers use the vehicle value when rating the policy. It is advisable to review the vehicle value in advance of your renewal date and update it if necessary.

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N71 Moll’s Gap road remains closed following Killarney National Park fire

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N71 Moll’s Gap road remains closed following Killarney National Park fire

The N71 Moll’s Gap road remains closed this Wednesday lunchtime following a significant forestry fire at Five Mile Bridge on Tuesday evening.

Kerry County Fire Services personnel from Killarney, Kenmare, and Killorglin, alongside the National Parks and Wildlife Service (NPWS) fire team, worked on-site to tackle the blaze. Two helicopters were deployed to extract water from the lake to quench the flames.

The fire was brought under control at 10:30pm on Tuesday evening. However, several areas are still smouldering today and are currently being assessed by emergency crews.

The road is closed as a safety precaution while preventative measures continue, and local diversions are in place. Helicopters remain active at the scene today, taking water from the lake to dampen down areas on the opposite side of the road.

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Human activity blamed for devastating wildfire in National Park

A major wildfire that destroyed approximately 25 hectares of Killarney National Park on Tuesday evening, July 14, is believed to have been started by human activity. The blaze broke out […]

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A major wildfire that destroyed approximately 25 hectares of Killarney National Park on Tuesday evening, July 14, is believed to have been started by human activity.

The blaze broke out in the Five Mile Bridge area of the park along the Killarney-Kenmare road at around 5:00pm. Members of the public quickly raised the alarm, enabling emergency services and National Parks and Wildlife Service (NPWS) personnel to quickly mobilise to the scene. This early notification and swift action were critical in preventing the fire from escalating into a much more severe incident.
Fire crews from Killarney and Kenmare responded to contain and suppress the fire, with on-ground support from NPWS staff. Aerial support was also deployed to assist ground crews, with helicopters using Bambi buckets to target the flames from above.
The affected area is estimated to be around 25 hectares in size. It includes a mixture of dry heath, wet heath, and blanket bog, as well as pockets of native old oak woodland.
NPWS Divisional Manager Eamonn Meskell praised the rapid coordination of the emergency response.
“Thanks to the rapid response and coordinated efforts of all emergency personnel, NPWS staff and dedicated fire emergency crew, Kerry Fire and Rescue Service crews, rapid aviation assistance was deployed which was very effective bringing the fire under control,” Mr. Meskell said. “We will be on site on Wednesday morning to assess the affected area and monitor for any remaining hotspots and determine whether any further firefighting operations are required.”
The Minister of State with special responsibility for Nature, Heritage and Biodiversity, Christopher O’Sullivan TD, expressed frustration at the cause of the blaze.
“This is devastating and it was started by human activity,” Minister O’Sullivan said. “It was completely avoidable. We can do better than this. Thank you to the National Parks and Wildlife staff and Kerry Fire and Rescue Service and aviation crews who battled the fires in Killarney National Park.”

Photos by Valerie O’Sullivan

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