Motor insurance premiums in Ireland have dropped more than 10%, according to the Central Statistics Office.
A report by The Irish Independent described it as the first dramatic fall in costs following years of hikes. It said effects of the decrease in average premiums are not being felt yet though as far as renewal quotes go, citing cost surges of up to 70% in the past.
A policy worth €500 three years ago is now costlier by €220, according to the report. Meanwhile, a probe into alleged cartel activity in the Irish motor insurance industry is ongoing.
Now here’s one interesting development: an avid campaigner against exorbitant premiums in Ireland has reportedly won a year’s worth of motor insurance.
Kian Griffin – who had addressed the Oireachtas Finance Committee regarding insurance costs – supposedly bagged the prize from peer-to-peer car rental service Fleet.
Related stories:
Motor insurers, brokers raided as authorities seek cartel evidence
Irish motorists to face even higher premiums
