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Cash-strapped householders hoping to save on ‘protection’

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Homeowners in Galway have become so cash-strapped that they are now willing to switch mortgage protection providers to save as little as €5 per month.

A survey from Caledonian Life has found that couples with young children are the most likely to switch providers.

According to the report: “The most up to date figures from the Central Statistics Office have revealed the average disposable income in Galway was just €19,000 in 2010.

“This may be one of the reasons behind recent findings from Caledonian Life which showed that young families would switch Life assurance provider for savings as low as €5 a month if they found a better deal. 

“57% of financial brokers said that their clients would be prepared to change mortgage protection policies for a saving of less than €10 per month,” the report reads.

Tadhg Malone of Caledonian in Galway said: “Our Brokers believe a saving of €5 to €10 per month on mortgage protection cover would be enough to make the majority of their clients change provider.

“Coupled with our own research that suggests that over the last 12 years, premiums have reduced by anything between 21% and 47%, this is an opportune time for homeowners to review their cover to see if they could benefit from changing provider.

“With rates having dropped considerably over the years as we live longer, healthier lives, many policyholders are finding they can make considerable savings by changing from one insurance company to another. 

“As long as they ensure the new policy is in place before the old one is cancelled, the bank can have no objections,” said Mr Malone.

The survey found that 64% of financial brokers believe that couples with young children would be most likely to switch to a better deal if they found one on mortgage protection policies. 66% believe elderly homeowners would be least likely to switch.

It also found that 84% believe payment protection would be the first protection policy (between payment protection, mortgage protection and life cover) to be cancelled by consumers in financial difficulty.

Also, 57% said that in their experience, homeowners default on their mortgage repayments before letting their mortgage protection lapse.

Connacht Tribune

New domain registrations reveal growth of almost 7% over first half of year

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Figures...David Curtin.

Traditional businesses are embracing their online presence now more than ever in the aftermath of Covid – with Galway companies showing a growth of almost seven per cent in new domain registrations post-pandemic.

That’s according to the latest statistics released by .IE, Ireland’s country domain manager. 

There were 1,236 new .ie domains registered in Galway in the first half of this year, representing growth of 6.6% over pre-pandemic 2019.

That figure accounted for over half of the 2,352 new .ie domains registered in Connacht between January and June 2022, as the database reported 2.6% year-on-year growth, with new registrations returning to pre-pandemic levels.

Identifying with place proved very popular for new .ie registrations in H1 2022. In Galway, the top three keywords in new .ie domain registrations were ‘Galway’, ‘Ireland’ and ‘Irish’.

At the end of June, the total .ie database stood at 332,642 domains.

Limerick recorded the highest percentage growth among the major urban counties (Dublin, Cork, Galway and Waterford) over the first half of 2022 compared to the same period in 2019.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

 

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Connacht Tribune

Large numbers of younger Irish workers plan to change jobs in next two years

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Gary Notley...workers reassessing options.

More than half of the co-called Gen Z’s and only slightly less of our millennials plan to leave their current jobs for pastures new in the next two years.

That’s according to a new Deloitte Ireland survey which revealed that 56% of Gen Zs and 40% of millennials plan to leave their current roles in that time.

It also found that 53% of millennials believe the economic situation will worsen in the next twelve months, compared to 36% of Gen Z.

And 55% of Irish millennials cite the cost of living as being their number one greatest concern with one in four of them leaving their organisations in 2022 as a result of burnout.

Gen Z refers to the generation of people born in the late 1990s and early 2000s, while millennials are those reaching young adulthood in the early 21st century.

Overall, the survey found that both cohorts are concerned about an economic downturn – but they desire a better work/life balance and want more flexible working arrangements than they currently have.

The Irish participants were taking part in the Millennial and Gen Z global study of over 45 countries – and they said they are more willing than ever to leave for fresh opportunities.

They are seeking options to provide them with better salary/reward, work life balance, higher flexibility and opportunity offered by employers, and, to a lesser extent, organisations focused on climate change.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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Connacht Tribune

Woodie’s digs deep for heroes

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Staff at the country’s Woodie’s outlets – including Galway – have just launched their annual fundraiser which has raised a fantastic €2.5 million in last seven years for eleven children’s charities in Ireland.

And as they kick off their annual Woodie’s Heroes campaign, their hope is to have their biggest and best year of fundraising to date so that they can help four heroic Irish charities continue their incredible work.

The campaign – which kicked off last Sunday and runs all the way through to Saturday, August 13 – will support ISPCC Childline, Autism Assistance Dogs Ireland, Down Syndrome Ireland, and Make-A-Wish Ireland.

Each charity has been carefully selected using a colleague vote shared with all 1,600+ Woodie’s colleagues earlier this year.

Over the last seven years, Woodie’s Heroes has already raised €2.5 million for Irish children’s charities – and last year alone, Woodie’s Heroes surpassed its target and raised over €536,000 for children’s charities.

This summer, Woodie’s hope to continue to build on their fundraising efforts, thanks to the generosity of their customers and suppliers, and the support and enthusiasm of Team Woodie’s. Every cent raised goes directly to the four charities and will be divided evenly among them.

It is now easier than ever to donate to Woodie’s Heroes.

You can donate at the till in store by adding €1, €2 or €5 to your bill, or online at woodies.ie – and you can also text to donate €4 to one of the Woodie’s Heroes charities.

Simply text one of the below keywords to 50300 to donate €4.

ISPCC to 50300 to support ISPCC Childline;

AADI to 50300 to support Autism Assistance Dogs Ireland;

DSI to 50300 to support Down Syndrome Ireland;

MYWISH to 50300 to support Make a Wish Ireland.

Each text cost €4, and the charities will receive a minimum of €3.60.

 

 

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