The price of car insurance could soon be set to fall in the near future as new proposals could force insurance companies to lower their premium prices.
Under the new plan which will hopefully see an end to spiralling costs, motorists will soon be able to check how many claims have been made with their insurance company.
The plan which will see a new database setup that will allow compensation monitoring will also allow all those who have costly insurance premiums being allowed to monitor their companies pay outs during the course of a year.
According to a government spokesperson the new National Claims Information Database will give a broad spectrum of information in regards to premiums as companies will be forced to explain their claims and how they affect the increase in a motorists premium.
Although the new plan has to be officially passed in the Dáil, the government say the database which would most likely be regulated by the Central Bank of Ireland would provide greater transparency for both the average consumers and insurance companies in what is a ever growing market.