Car insurance premiums said to have gone up 70% since 2013

Concerns are being raised about the continued rise in the cost of insuring your car.

Car insurance premiums said to have gone up 70% since 2013

Concerns are being raised about the continued rise in the cost of insuring your car.

Insurance companies are said to be clamping down on the types of drivers and cars that they are willing to provide cover for.

Premiums are reported to have gone up by more than 70% since 2013.

The motor industry has issued a warning saying the rise in costs is showing no signs of easing.

Broker Jonathan Hehir says the sector is haemorrhaging money: “We’ll have to take the reports they give us on face value because they weren’t afraid to publish when they were making money.

“So I went through the reports recently and if we go back to 2007 they weren’t afraid to show profit in motoring insurance of around €500m at that time.

“That figure has gradually gone down over the ten years and the last time they are shown to be making money was back in 2012 and there was a slight profit on it and since then they have shown losses of hundred of millions of losses in the motoring insurance sector.”

more courts articles

Man admits killing Irish pensioner (87) on mobility scooter in London Man admits killing Irish pensioner (87) on mobility scooter in London
Former DUP leader Jeffrey Donaldson arrives at court to face sex charges Former DUP leader Jeffrey Donaldson arrives at court to face sex charges
Case against Jeffrey Donaldson to be heard in court Case against Jeffrey Donaldson to be heard in court

More in this section

Asylum seeker encampment forms on bank of Dublin’s Grand Canal Asylum seeker encampment forms on bank of Dublin’s Grand Canal
'I don't have enough words to thank you;' Zak Hania returns from Gaza after seven-month 'hell' 'I don't have enough words to thank you;' Zak Hania returns from Gaza after seven-month 'hell'
Students vow to occupy Trinity College Dublin campus 'indefinitely' in protest over war in Gaza Students vow to occupy Trinity College Dublin campus 'indefinitely' in protest over war in Gaza
War_map
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited