Insuresupermarket comments on launch of motor insurance by Ryanair

Comparison site insuresupermarket has issued a statement regarding the launch of motor insurance by budget airline Ryanair, saying that it will “need to be competitive”.

This is owing to the fact that the fit of this product with the airline’s customers is not entirely obvious, unlike its travel insurance option.

One reason for the launch of this product on Ryanair’s part, according to insuresupermarket, is that it is trying to compete with its travel rival easyJet, which has launched easyMoney recently.

For younger drivers, easyMoney is more competitive, according to Richard Mason, director of insuresupermarket, as it is around £53.46 cheaper a year.

Ryanair is more favourable for older drivers, however, as it charges £104.61 less.

“Ryanair does not offer particularly cheap policies for younger drivers, but for someone in their thirties, the cover is modestly priced,” Mr Mason said.

“With its reputation for value for money, you might expect a high degree of competitiveness. But instead it languishes in the middle of the road.”

According to the comparison site, Ryanair offers an annual premium of £581.47 for a 21-year-old female in Liverpool driving a £6,000 Volkswagen with a four years no claims bonus and no convictions.

Comparatively, easyMoney offers a premium of £528.01, while the most competitive offer comes from Swiftcover, which charges £450.89.