The average motor insurance premium last year cost a driver €568 – down 7% on 2021’s figures.
That’s one of the findings from the Private Motor Insurance Report from the Central Bank which has been published today.
The total earned premium for private motor insurance in Ireland in 2022 was €1.3 billion, with the industry reporting a 12% profit.
Head of Statistics at the Central Bank, Jean Cassidy, outlines some of the other major findings they discovered in the report:
