Motor insurance costs are set to continue to reduce in price according to one local insurance broker.
Benny Sheridan from Sheridan Insurance based in Cavan told the Joe Finnegan Show this morning that this trend will continue due to the changes in legislation to the personal Injuries Assessment Board.
According to recent data compiled by the Central Bank of Ireland, the average premium per policy was €578 in the first half of last year, 5% below the figure at the end of 2021.
The first mid-year motor insurance report shows the cost of claims settled directly or through the Personal Injuries Assessment Board has fallen by between a third and half since the introduction of the new Personal Injury Guidelines two years ago.
Benny Sheridan says that the leading motor Insurance firms are more proactive when assessing insurance claims compared to previous years.
