Consumers can save more than €1,200 by shopping around for motor insurance.
A new survey by the Competition and Consumer Protection Commission has found the potential savings vary according to the level of cover required and the circumstances of the individual.
The study also showed that penalty points dramatically affect the price of insurance. In the case of one profile surveyed, an increase in penalty points from two to six points resulted in a 37% jump in the price of comprehensive cover.
But in another case study, the savings made for a fully comprehensive policy was €1,249.
However, the commission said taking time to consider multiple options is very likely to result in savings no matter what the circumstances of the driver are.
"Whichever profile you look at, there's a difference between the cheapest company and the dearest company," said Fergal O'Leary, Director of Communications and Consumer Help at the Commission.
"There is a great deal of variation in this market, so whatever the consumer's individual circumstances, there's a very good chance that if they do get a couple of quotes, they can save a significant amount of money - especially given that it is very easy to get quotes quickly."