Half of motorists see significant rise in insurance costs

Despite recent research from the CSO indicating that the cost of motor insurance has dropped by 12.8% in the past year, many motorists are seeing premiums rise at the time of renewal, according to AA Ireland.

In a survey of more than 4,000 Irish motorists, more than half (54.06%) said they saw a significant increase in their insurance costs at the time of their last renewal. A further 23.35% said they had seen their insurance costs continue to rise year on year.

“While we have seen a few headlines recently indicating that insurance costs are dropping, it’s important to bear in mind that this is based off an aggregate of all available data and, as a result, there are many motorists out there that have yet to see their premiums start to dip,” said Conor Faughnan, AA director of consumer affairs.