The Central Bank of Ireland has published research showing that consumers could save around EUR 300 on motor insurance by comparing quotes, particularly those facing high premiums. Prices varied across insurers for the same driver and vehicle, although consumers also need to compare the level and type of cover to ensure policies meet their needs.
The analysis examined online new business quotes obtained from eight primary insurers for 16 standardized consumer profiles in June 2026. Although prices differed, insurers generally distinguished between lower and higher risk customers consistently. Online quotes were not always available for higher risk profiles, including drivers with limited experience or penalty points and those also using their vehicle for business. These consumers could explore brokers or contact insurers directly.
The accompanying guide encourages consumers to compare prices each year. Practical steps to reduce premiums include driving safely and paying annually. Consumers can also review their excess and cover levels and check available discounts.