Car insurance up 14 months in a row – CSO

Motor insurance premiums are continuing to rise at an alarming rate, with new figures from the Central Statistics Office (CSO) showing a 14 consecutive month increase.

The cost of insuring a vehicle was up by 11 per cent in the year to October, according to the CSO. Motor insurance premiums are now rising at 15 times the rate of general inflation.

The latest CSO figures show that overall consumer prices rose by 0.7 per cent last month when compared with a year earlier. This was the same rate of inflation that the statisticians recorded in September.

According to the CSO, insurance costs are also rising much faster than inflation in other sectors with health insurance up 10.4 per cent on last year and home insurance up 7.6 per cent.