Drivers could save €300 by comparing cover
New Central Bank research suggests motorists can find substantial savings by seeking quotes from several insurers. The analysis examined online prices for 16 standardised customer profiles across eight providers in June 2026.
Motorists could save around €300 by comparing insurance quotes, according to new research from the Central Bank of Ireland.
The regulator found that prices can vary significantly between insurers for the same driver and vehicle, with potential savings particularly relevant to people receiving very high quotes. Its analysis drew on online quotes for new business from eight primary insurers, using 16 standardised consumer profiles in June 2026.
Director of Insurance Seána Cunningham said: “However, it is not just about price. Consumers should also compare the level and type of cover provided to make sure they are getting the right cover for them.”
The Central Bank’s guide encourages motorists to compare quotes each year. It also sets out practical ways to potentially reduce premiums:
- Drive safely and check for available discounts.
- Consider paying annually rather than in instalments.
- Review the excess and level of cover to ensure they suit your needs.