Motor insurance price has dropped by a third in a decade - local minister

A local minister says the cost of motor insurance is a third cheaper now compared to 10 years ago.

Junior Finance Minister Robert Troy was speaking as Government continue with their action plan to reduce insurance costs.

It was launched last year and will run until 2029.

Minister Troy says, while insurance prices are rising, they're still cheaper than in 2016:

Troy also says more needs to be done to tackle issues regarding flood insurance: