Triple-I Logo
Auto

Facts + Statistics: Auto insurance

Featured Image
SPONSORED BY

Costs and expenditures

The countrywide average auto insurance expenditure increased 14.0 percent to $1,282 in 2023 from $1,127 in 2022, according to the National Association of Insurance Commissioners. In 2023 (the latest data available), the average expenditure was highest in Florida ($1,865), followed by Louisiana ($1,754), and New York ($1,753).

To calculate average expenditures, the National Association of Insurance Commissioners (NAIC) assumes that all insured vehicles carry liability coverage but not necessarily collision or comprehensive coverage. The average expenditure measures what consumers spend for insurance on each vehicle. It does not equal the sum of liability, collision and comprehensive expenditures because not all policyholders purchase all three coverages. The average expenditure measures what consumers actually spend for insurance.

Your Driving Costs, a 2022  study from AAA, found that the average cost to own and operate a 2022 model vehicle was $10,728 in 2022 when it is driven 15,000 miles per year. The average full-coverage insurance cost for medium sedans was $1,694, compared with $1,529 for a medium SUV. The average insurance cost for all vehicles, including pickups and hybrid and electric vehicles, was $1,588. These cost estimates are based on a full coverage policy for a driver under 65 years of age with more than six years of driving experience, no record of accidents, and residency in a suburban/urban location.

80 percent of insured drivers purchase comprehensive coverage in addition to liability insurance, and 77 percent buy collision coverage, based on a Triple-I analysis of 2023 NAIC data.

The coverage is for a policy with $100,000/$300,000 personal liability, $25,000 medical, $100,000 property and $25,000/$50,000 uninsured/underinsured motorist coverage, with a $500 deductible for collision and comprehensive claims. These figures are not comparable with the National Association of Insurance Commissioners’ auto expenditures data, below.

 

Average Expenditures for Auto Insurance, 2012-2021

Year Average expenditure Percent change
2012 $812.40 2.2%
2013 841.06 3.5
2014 869.47 3.4
2015 896.66 3.1
2016 945.22 5.4
2017 1,008.35 6.7
2018 1,058.10 4.9
2019 1,071.74 1.3
2020 1,046.37 -2.4
2021 1,061.54 1.4

Source: National Association of Insurance Commissioners (NAIC). Further reprint or distribution strictly prohibited without written permission of NAIC.

View Archived Tables

Auto insurance expenditures, by state

The tables below show estimated average expenditures for private passenger automobile insurance by state from 2016 to 2020 and provide approximate measures of the relative cost of automobile insurance to consumers in each state. To calculate average expenditures, the National Association of Insurance Commissioners (NAIC) assumes that all insured vehicles carry liability coverage but not necessarily collision or comprehensive coverage. The average expenditure measures what consumers spend for insurance.

Expenditures are affected by the coverages purchased as well as other factors. The NAIC does not account for policyholder classifications, vehicle characteristics or the amount of deductibles selected by the policyholder, differences in state auto and tort laws, rate filing laws, traffic conditions and other demographic variables, all of which can significantly affect the cost of coverage. The NAIC notes that three variables—urban population, miles driven per number of highway miles, and disposable income per capita—are correlated with the state auto insurance premiums. It also notes that high-premium states tend to also be highly urban, with higher wage and price levels, and greater traffic density. Many other factors can also affect auto insurance prices.

Top 10 Most Expensive And Least Expensive States For Auto Insurance, 2021 (1)

Rank Most expensive states Average expenditure Rank Least expensive states Average expenditure
1 New York $1,511.04 1 North Dakota $691.50
2 Louisiana 1,500.38 2 Maine 712.97
3 District of Columbia 1,434.53 3 Iowa 725.30
4 Florida 1,431.56 4 Idaho 741.54
5 Rhode Island 1,422.42 5 Wisconsin 757.50
6 New Jersey 1,365.71 6 South Dakota 767.49
7 Michigan 1,306.32 7 Indiana 767.57
8 Georgia 1,268.34 8 Ohio 776.24
9 Nevada 1,264.70 9 North Carolina 780.19
10 Delaware 1,258.20 10 Vermont 780.45

(1) Based on average automobile insurance expenditures.

Source: National Association of Insurance Commissioners (NAIC). Further reprint or distribution strictly prohibited without written permission of NAIC.

View Archived Tables

Auto Insurance Affordability

Average Auto Insurance Expenditures As A Percent of Median Household Income, 2018 (1)

Rank State Percent Rank State Percent
1 Louisiana 3.09% 27 Oregon 1.43%
2 Florida 2.61 28 Montana 1.43
3 Michigan 2.43 29 Maryland 1.41
4 Mississippi 2.27 30 Alaska 1.40
5 Georgia 2.17 31 North Carolina 1.38
6 Rhode Island 2.14 32 Massachusetts 1.35
7 New York 2.12 33 Illinois 1.31
8 Nevada 2.04 34 Washington 1.30
9 Delaware 1.99 35 Ohio 1.29
10 Texas 1.93 36 Indiana 1.28
11 New Mexico 1.90 37 Kansas 1.26
12 South Carolina 1.90 38 Idaho 1.23
13 New Jersey 1.87 39 Minnesota 1.22
14 West Virginia 1.86 40 Utah 1.22
15 Arkansas 1.81 41 Wyoming 1.22
16 Alabama 1.81 42 Wisconsin 1.21
17 Kentucky 1.72 43 South Dakota 1.21
18 Arizona 1.68 44 Nebraska 1.18
19 Oklahoma 1.68 45 Maine 1.17
20 DC 1.67 46 Virginia 1.11
21 Connecticut 1.67 47 Vermont 1.11
22 Colorado 1.55 48 Hawaii 1.04
23 Pennsylvania 1.54 49 New Hampshire 1.04
24 Tennessee 1.53 50 North Dakota 1.03
25 Missouri 1.48 51 Iowa 1.02
26 California 1.47   Total U.S. 1.67%

(1) Data are for IRC’s affordability index based on average auto insurance expenditures published by the National Association of Insurance Commissioners (NAIC) (see charts here) and median household income from the U.S. Census Bureau.

Source: Auto Insurance Affordability: Countrywide Trends and State Comparisons, Insurance Research Council.

View Archived Tables

Premiums

Private Passenger Automobile Insurance, 2015-2024

  Liability Collision/comprehensive
Year Net
premiums
written (1)		 Annual
percent
change		 Combined
ratio (2)		 Annual
point
change (3)		 Net
premiums
written (1)		 Annual
percent
change		 Combined
ratio (2)		 Annual
point
change (3)
2015 $116,303,845 3.5% 107.9 4.1 pts. $76,462,942 7.6% 99.5 -0.8 pts.
2016 124,441,637 7.0 109.5 1.5 82,928,686 8.5 101.7 2.2
2017 133,759,785 7.5 105.5 -4.0 88,489,463 6.7 98.2 -3.5
2018 144,449,266 8.0 100.4 -5.1 96,465,734 9.0 93.7 -4.5
2019 147,278,690 2.0 101.7 1.3 100,407,182 4.1 94.5 0.8
2020 144,102,547 -2.2 94.8 -6.9 99,548,734 -0.9 89.2 -5.4
2021 148,417,736 3.0 99.8 5.0 104,464,678 4.9 103.9 14.7
2022 155,139,607 4.5 111.3 11.5 112,907,513 8.1 113.4 9.6
2023 173,192,135 11.6 106.3 -4.9 133,393,569 18.1 103.0 -10.4
2024 193,445,830 11.7 101.2 -5.1 152,443,528 14.3 87.9 -15.2

(1) After reinsurance transactions, excludes state funds.   
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Top 10 Writers Of Private Passenger Auto Insurance By Direct Premiums Written, 2024

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm $67,748,192 18.9%
2 Progressive 60,053,469 16.7
3 Berkshire Hathaway Inc. 41,714,394 11.6
4 Allstate Corp. 36,581,812 10.2
5 USAA Insurance Group 22,096,870 6.2
6 Farmers Insurance Group of Companies 13,492,655 3.8
7 Liberty Mutual 11,741,471 3.3
8 Travelers Companies Inc. 7,184,379 2.0
9 Auto Club Exchange 6,465,137 1.8
10 American Family Insurance Group 6,174,180 1.7

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, excluding territories.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Auto claims

Liability insurance pays for the policyholder’s legal responsibility to others for bodily injury or property damage. Collision and comprehensive insurance cover property damage and theft to the policyholder’s car.

  • In 2024, 0.80 percent of people with liability insurance had a bodily injury liability claim, while 2.50 percent of those with liability insurance had a property damage liability claim, according to ISO.

  • In 2024, 4.16 percent of collision insurance policyholders had a claim, while 3.95 percent of people with comprehensive coverage had a claim.

  • In 2024, the average auto liability claim for property damage was $6,770; the average auto liability claim for bodily injury was $28,278.
  • In 2024, the average collision claim was $5,489; the average comprehensive claim was $2,306. 

Private Passenger Auto Insurance Losses, 2015-2024 (1)

  Liability
  Bodily injury (2) Property damage (3)
Year Claim frequency (4) Claim severity (5), (6) Claim frequency (4) Claim severity (5), (6)
2015 0.89 $17,014 3.45 $3,628
2016 1.04 16,082 3.41 3,969
2017 1.06 16,234 3.16 3,797
2018 0.94 18,213 3.09 4,174
2019 0.93 19,151 3.14 4,326
2020 0.78 20,769 2.39 4,703
2021 0.68 23,592 2.28 5,036
2022 0.70 24,681 2.54 6,024
2023 0.78 26,178 2.59 6,554
2024 0.80 28,278 2.50 6,770
  Physical damage (7)
  Collision Comprehensive (8)
Year Claim frequency (4) Claim severity (5) Claim frequency (4), (9) Claim severity (5), (9)
2015 6.01 $3,377 2.62 $1,679
2016 5.51 3,454 2.30 1,951
2017 5.98 3,517 2.86 1,811
2018 4.92 3,665 2.70 1,806
2019 5.00 3,828 2.99 1,796
2020 3.93 3,854 2.91 1,918
2021 4.31 4,583 3.35 1,947
2022 4.48 5,377 3.78 2,175
2023 4.48 5,521 4.08 2,305
2024 4.16 5,489 3.95 2,306

 

(1) For all limits combined. Data are for paid claims.
(2) Excludes Massachusetts and most states with no-fault automobile insurance laws.
(3) Excludes Massachusetts, Michigan and New Jersey.
(4) Claim frequency is claims per 100 earned car years. A car year is equal to 365 days of insured coverage for one vehicle.
(5) Claim severity is the size of the loss.
(6) Includes loss adjustment expenses.
(7) Excludes Massachusetts, Michigan and Puerto Rico. Based on coverage with a $500 deductible.
(8) Excludes wind and water losses.
(9) Includes glass losses.

 

Source: ISO®, a Verisk Analytics® business.

Incurred Losses for Auto Insurance, 2020-2024 (1)

  2020 2021 2022 2023 2024
Private passenger auto          
     Liability $81,627,769 $95,420,729 $118,106,320 $125,670,793 $132,012,369
     Physical damage 54,659,175 73,802,318 91,033,128 95,379,852 89,499,857
Commercial auto          
     Liability 19,279,909 21,008,709 26,227,343 30,299,205 33,572,686
     Physical damage 4,824,642 5,779,487 7,669,261 8,219,219 7,968,725
Total $160,391,495 $196,011,243 $243,036,052 $259,569,069 $263,053,637

(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, after reinsurance transactions.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

The shared/residual market and nonstandard markets

All states and the District of Columbia use special systems to guarantee that auto insurance is available to those who cannot obtain it in the private market. These systems are commonly known as assigned risk plans. Assigned risk and other plans are known in the insurance industry as the shared, or residual, market. In assigned risk plans, high-risk policyholders are proportionally assigned to insurance companies doing business in the state. In the voluntary, or regular, market, auto insurers are free to select policyholders.

Motorists can also obtain auto insurance from the nonstandard portion of the private market. The nonstandard market is a niche market for drivers who have a worse than average driving record or drive specialized vehicles such as high-powered sports cars or custom-built cars. It is made up of both small specialty companies, whose only business is the nonstandard market, and well-known auto insurance companies with nonstandard divisions.

Collision losses

The chart below shows the claim frequency and average loss payment per claim and average loss payment per insured vehicle year under collision coverage for recent model vehicles. The claim frequency is expressed as a rate per 100 insured vehicle years. A vehicle year is equal to 365 days of insurance coverage for a single vehicle.

Passenger Vehicle Collision Coverage Insurance Losses, 2022-2024 Model Years

  Claim frequency (1) Claim severity Overall loss (2)
Passenger cars (3) 7.2 $10,298 $737
Pickups 5.1 10,354 533
SUVs 5.5 10,220 562
All passenger vehicles (4) 5.9 $10,267 $604

(1) Per 100 insured vehicle years.
(2) Represents the average loss payment per insured vehicle year.
(3) Includes minivans.
(4) Includes claims from cargo/passenger vans.

Source: Highway Loss Data Institute.

Consumer prices

To shed light on inflation, the Bureau of Labor Statistics maintains a consumer price index (CPI) which tracks monthly and annual changes in the average prices paid by urban consumers for a representative basket of goods and services. The Consumer Price Index for All Urban Consumers (CPI-U) represents data for 93 percent of the U.S. population not living in remote rural areas, institutions, or on military bases. The CPI-U rose 2.6 percent in 2025. The cost of motor vehicle insurance for these consumers increased 6.0 percent in 2025.

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2016-2025

  Cost of living (all items) Motor vehicle insurance Medical care items Physicians’ services Hospital services (1)
Year Index Percent change Index Percent change Index Percent change Index Percent change Index Percent change
2016 240.0 1.3% 489.1 6.2% 463.7 3.8% 378.1 3.3% 303.3 4.5%
2017 245.1 2.1 526.9 7.7 475.3 2.5 380.1 0.5 318.2 4.9
2018 251.1 2.4 566.0 7.4 484.7 2.0 380.5 0.1 332.2 4.4
2019 255.7 1.8 571.0 0.9 498.4 2.8 383.2 0.7 338.8 2.0
2020 258.8 1.2 544.6 -4.6 518.9 4.1 389.9 1.7 353.0 4.2
2021 271.0 4.7 565.3 3.8 525.3 1.2 406.5 4.3 363.5 3.0
2022 292.7 8.0 609.8 7.9 546.6 4.1 411.9 1.3 376.8 3.7
2023 304.7 4.1 716.0 17.4 549.1 0.5 412.6 0.2 392.1 4.1
2024 313.7 2.9 843.1 17.8 563.8 2.7 417.9 1.3 414.8 5.8
2025 321.9 2.6 893.5 6.0 580.1 2.9 428.5 2.5 414.8 5.8
Percent change
2016-2025		   34.1%   82.7%   25.1%   13.3%   36.8%

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2016-2025 (Cont'd)

  Motor vehicle body work New vehicles New cars New trucks (2)
Year Index  Percent change Index Percent change Index Percent change Index Percent change
2016 287.6 2.4% 147.4 0.2% 143.7 -0.5% 156.4 0.6%
2017 294.5 2.4 147.0 -0.2 142.7 -0.7 156.6 0.1
2018 302.7 2.8 146.3 -0.5 142.0 -0.5 155.8 -0.5
2019 313.5 3.5 146.8 0.4 142.8 0.6 156.3 0.3
2020 324.7 3.6 147.6 0.5 144.0 0.8 157.1 0.5
2021 343.0 5.6 156.2 5.9 152.0 5.6 166.7 6.1
2022 385.9 12.5 172.5 10.4 168.8 11.1 183.7 10.2
2023 411.2 6.6 178.9 3.7 174.6 3.5 190.8 3.9
2024 417.2 1.4 177.9 -0.6 172.6 -1.2 189.9 -0.5
2025 432.8 3.7 178.5 0.3 173.5 0.5 190.5 0.3
Percent change
2016-2025		   50.5%   21.1%   20.7%   21.8%

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 2016-2025 (Cont'd)

Used cars and trucks Tenants and
household insurance (3), (5)		 Repair of
household items (3), (6)		 Legal services (4) Existing single-
family homes
Year Index Percent change Index Percent change Index Percent change Index Percent change Median price ($000) Percent change
2016 143.5 -2.5% 147.7 0.9% 226.3 2.8% 334.5 3.4% 235.5 5.2%
2017 138.3 -3.6 148.8 0.7 239.3 5.8 346.4 3.6 248.8 5.6
2018 138.4 0.1 150.7 1.3 253.7 6.0 361.2 4.3 261.6 5.1
2019 139.8 1.0 151.8 0.7 268.7 5.9 364.8 1.0 274.6 5.0
2020 144.2 3.2 151.1 -0.5 270.0 0.5 368.7 1.1 300.2 9.3
2021 182.6 26.6 150.7 -0.3 0.0 0.0 374.4 1.5 357.1 19.0
2022 205.9 12.7 150.5 -0.1 NA NA 399.4 6.7 392.8 10.0
2023 191.2 -7.1 153.3 1.8 352.6 NA 432.9 8.4 394.1 0.3
2024 179.8 -6.0 158.3 3.3 NA NA NA NA 412.5 4.7
2025 185.0 0.0 165.7 4.7 NA NA NA NA 419.5 1.7
Percent change
2016-2025		 28.9% 12.1% NA NA 78.1%

(1) December 1996=100.
(2) December 1983=100.
(3) December 1997=100.
(4) December 1986=100.
(5) Only includes insurance covering rental properties.
(6) Includes appliances, reupholstery and inside home maintenance.

NA = Data not available

Note: Percent changes are calculated from unrounded data.

Source: U.S. Department of Labor, Bureau of Labor Statistics; Copyright ©2026 “December Existing Home Sales.” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. February 12, 2026, Reprinted with permission. February 12, 2026, https://www.nar.realtor/sites/default/files/2025-01/ehs-12-2024-summary-2025-01-24.pdf.

Related

View All
Arrow Right
Facts + Statistics: Deer vehicle collisions
Auto

Facts + Statistics: Deer vehicle collisions

facts statistics
Facts + Statistics: Alcohol-impaired driving
Auto

Facts + Statistics: Alcohol-impaired driving

facts statistics
Facts + Statistics: Drowsy driving
Auto

Facts + Statistics: Drowsy driving

facts statistics
Facts + Statistics: Distracted driving
Auto

Facts + Statistics: Distracted driving

facts statistics