Motor insurance claims hit record €414m in first half of 2024, says Central Bank

Motor insurance payouts hit €414m in six months, driven by rising costs, legal fees, and growing damage claim volumes
Motor insurance claims hit record €414m in first half of 2024, says Central Bank

Between January and June 2024 there were about motor insurance 87,700 claims which resulted in €231m being paid out in damage claims, while injury claims stood at €183m.

The first half of 2024 saw the total value of settled motor insurance claims hit €414m, between damage and injury settlements, which is the highest level on record, new data from the Central Bank of Ireland shows.

During the first half of 2023, €320.8m was paid out in settlements which increased to €339.7m during the second half of that year.

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