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Story summary
- The Central Bank reports car insurance costs rose 9% from 2023 to 2024, averaging €623.
- The rise is driven by higher damage-related claims, with repairs averaging €192 per policy.
- Smaller injury claims fell, but larger claims kept injury costs stable.
- The Alliance for Insurance Reform criticized premiums amid a cost-of-living crisis, but acknowledged reforms stabilizing compensation awards.
- Legal costs for claims surged to 48% of costs for claims under €100,000.
