THE COST of car insurance has fallen by 3 per cent since the beginning of this year, an extensive survey published this morning by the AA indicates.
The insurer’s Motor Insurance Premium Index puts the average price of a policy at €549 compared with €567 at the start of the year.
“There are quite a few variables that are likely to have brought about this small downward shift since the start of the year,” said John Farrell, the director of AA Insurance. “Road deaths are down, thankfully, and there has been a drop of over 10 per cent in car thefts and associated crimes over the last 12 months.”
The introduction of new and more stringent drink-drive limits is also something the AA said could have a positive impact on Ireland’s insurance premiums.
“In Sweden, following a similar reduction in their drink-drive limits, they’ve seen an 11 per cent decrease in single-vehicle collisions,” Mr Farrell said.
“Not only has this saved lives, it’s also invariably led to a reduction in personal injury and material damage claims, something which if replicated here in Ireland will have a positive impact on motor insurance premium prices.”
Male drivers and those with more than five years of no claims discount saw the biggest improvements in their premium prices according to the survey.
