Motor insurance premiums up despite fall in claim numbers

Motor insurance premiums rose in 2015 despite the number of claims falling, according to a new report from the Central Bank.

According to the study, which is based on figures supplied by Insurance Ireland, average premiums for comprehensive cover increased by 9% from €459 in 2014 to €500 in 2015, while third party fire and theft cover increased by 19% from €557 in 2014 to €663 in 2015.

However, the claim frequency for comprehensive and third party fire and theft policies fell in 2015.