Motor insurance premiums up as damage claims drive higher settlement costs 

Since 2023, damage claims have overtaken injury claims as the largest component of claim costs — accounting for 56% of all claims in the first half of last year

Firms offering private motor insurance took in €798m in premiums across 1.22 million policies between January and June last year.

The average price of motor insurance premiums increased by 4% during the first half of 2025 — compared to 2024 — to €655 as the cost of settlements also grew, largely driven by damage claims, the latest data from the Central Bank of Ireland shows.

The data shows firms offering private motor insurance took in €798m in premiums across 1.22 million policies between January and June last year. This is an increase from the €748m taken in across 1.18 million policies during the latter half of 2024.