(Image via Pixabay)The average price of car insurance dropped by 5 per cent in the first half of last year.
The Central Bank says the average insurance premium was 578-euro in the first six months of 2022 - a 5 per cent decrease on 2021.
The report also shows 43 per cent of all injury claims were settled under the latest Personal Injuries Guidelines in the first half of last year.
Jennifer Carroll MacNeill, Minister of State with responsibility for Financial Services and Insurance, believes the new guidelines have help reduce insurance costs for drivers even more:
"The government has had a very strong programme of reform to try to reduce costs in managing claims, particularly soft claims, soft tissue injury claims, to try to reduce the cost of processing them and the value of them as well."
"They were an outlier in Europe. And we're seeing the benefit of that now being fed through to the price of people's policies."
