Cost of motor insurance rises by 35 per cent in a decade

3rd November, 2020
Cost of motor insurance rises by 35 per cent in a decade
Costs of claims per policy incurred by insurers fell by 9 per cent in the decade to 2019, yet motorists paid and average of 35 per cent more for cover

Motor insurers paid an average of 35 per cent more for cover in 2019 than a decade earlier despite the average cost of claims per policy incurred by insurers falling by 9 per cent over that period, new figures show.

New data published by the Central Bank of Ireland (CBI) today (TUE) shows that the average earned premium per policy stood at €676 in 2019. This was 4 per cent lower than the comparable figure a year previously...

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