The average cost of cover was €655 in the first half of last year, according to data from the Central Bank. Since 2023, damage claims have overtaken injury claims as the largest component of claims costs. This is despite a 4pc fall in claims costs in the first half of last year, and a 24pc fall in claims costs since the pandemic. “Lower injury costs, wider reforms and stronger premium volumes are part of this picture too. Insurance Ireland said that, despite the rise in premiums last year, overall levels remained below those seen prior to recent reforms.

Source: Irish Independent March 31, 2026 15:22 UTC