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In this article:
key car indemnity statistics
What impacts car policy rates ?
What types of car insurance claims are filed ?
Why do people get in collisions ?
share of uninsured drivers by submit
Auto indemnity costs by department of state
Most expensive states for car policy
Least expensive states for car indemnity
Auto indemnity industry statistics
Auto insurance statistics by historic period
Auto insurance statistics by sex
Key auto insurance statistics
How much is auto insurance?
- The average auto insurance premium is $1,674 a year or about $140 a month.
- About 2.44% of the average household income is spent on auto insurance.
- Auto insurance rates are on the rise. According to the NAIC, a 5% increase was observed between 2017 and 2018.
- Nearly 215 million drivers carry car insurance in the U.S., according to Review42.
- 12.6% of drivers on the road are uninsured, according to the Insurance Research Council.
- The auto insurance industry is worth about $311 billion, as of 2019 data from IBISWorld.
- Motor vehicle crashes cost almost $1 trillion in losses a year, according to NHTSA 2010 data.
- 10 million or more crashes go unreported each year, according to the NHTSA.
What impacts auto insurance rates?
Bankrate ’ s cogitation of the average annual cost of car policy in the U.S. shows a rate of $ 1,674 per year for entire coverage, account for about 2.44 % of the average U.S. annual family income. Based on the report :
- If your credit score decreases, your premium can increase by $1,351 for an average annual premium of $3,025.
- A speeding ticket can increase your premium by $355 for a total average premium of $2,029 per year.
- If you are involved in a car crash, your insurance premium can increase by $731 for a total of $2,405 per year.
- A lapse in coverage can cost you $187 for an average annual premium of $1,861.
- A DUI conviction can increase your policy premium by $1,662 for a total of $3,336 per year.
- If you add a teen driver to your policy, you add an average of $1,883 to your policy rate for a total annual premium of $3,557.
What types of auto insurance claims are filed?
The four categories of car insurance claims are bodily wound, property damage, collision, and comprehensive. Bodily injury and property damage claims are about liability or the policyholder ’ randomness responsibility to others for place damage or bodily injury. collision and comprehensive examination cover damage and larceny to the policyholder ’ south car .
Which auto insurance claims are most expensive?
Unsurprisingly, bodily injury claims are the most expensive, at an average of $ 15,862 per loss, followed by property damage at $ 3,630, collision at $ 3,247, and comprehensive at least expensive at $ 1,659. Cost of auto insurance claims by type
| Year | Bodily injury | Property damage | Collision | Comprehensive |
| 2010 | $14,406 | $2,881 | $2,778 | $1,476 |
| 2011 | $14,848 | $2,958 | $2,861 | $1,490 |
| 2012 | $14,690 | $3,073 | $2,950 | $1,585 |
| 2013 | $15,441 | $3,231 | $3,144 | $1,621 |
| 2014 | $15,384 | $3,516 | $3,169 | $1,572 |
| 2015 | $16,046 | $3,791 | $3,377 | $1,679 |
| 2016 | $16,149 | $3,969 | $3,442 | $1,747 |
| 2017 | $16,075 | $4,064 | $3,423 | $1,811 |
| 2018 | $17,164 | $4,295 | $3,578 | $1,832 |
| 2019 | $18,417 | $4,525 | $3,750 | $1,780 |
| Average | $15,862 | $3,630 | $3,247 | $1,659 |
reservoir : three
Which auto insurance claims are most common?
From a frequency point of view, collision claims are most normally filed at an average of 5.9 claims per 100 year of cover coverage on a vehicle. The second most patronize claims are property damage at 3.4, comprehensive at 2.8, and, least patronize, bodily wound at 1 claim per 100 car years. Frequency of auto insurance claims by type
| Year | Bodily injury | Property damage | Collision | Comprehensive |
| 2010 | 0.91 | 3.53 | 5.69 | 2.62 |
| 2011 | 0.92 | 3.56 | 5.75 | 2.79 |
| 2012 | 0.95 | 3.50 | 5.57 | 2.62 |
| 2013 | 0.95 | 3.55 | 5.71 | 2.57 |
| 2014 | 0.97 | 3.41 | 5.93 | 2.79 |
| 2015 | 1.00 | 3.41 | 6.01 | 2.72 |
| 2016 | 1.05 | 3.44 | 6.13 | 2.76 |
| 2017 | 1.11 | 3.46 | 6.14 | 2.86 |
| 2018 | 1.10 | 3.32 | 6.13 | 3.02 |
| 2019 | 1.07 | 3.18 | 6.13 | 3.25 |
| Average | 1.00 | 3.44 | 5.92 | 2.80 |
source : three
Why do people get in collisions?
car policy claims are normally the result of several factors, as indicated by the three : Risk factors in 2018 fatal crashes | Insurance Information Institute
| Risk factor | Number of fatal crashes | Percentage of fatal crashes |
|---|---|---|
| Speeding or racing | 8,596 | 16.7% |
| Influence of alcohol, drugs, or medication | 5,175 | 10.1% |
| Distracted driving | 2,688 | 5.2% |
| Drowsy, asleep, fatigued, ill or blacked out | 1,221 | 2.4% |
| No reason reported | 16,012 | 31.1% |
| Unknown | 9.167 | 17.8% |
How common are collisions?
furthermore, the Insurance Research Council ( IRC ) reports that 79 % of all claim economic losses in car claims in 2017 covered a multitude of aesculapian expenses. On the undimmed side, data indicates the total of injuries is gradually declining over time.
Read more: Best car insurance companies for 2022
| Total Crashes | Fatal Crashes | Injury Crashes | Property Damage Only Crashes | |
|---|---|---|---|---|
| 2017 | 6,452,000 | 34,247 | 1,889,000 | 4,530,000 |
| 2018 | 6,735,000 | 33,919 | 1,894,000 | 4,807,000 |
| 2019 | 6,756,000 | 33,224 | 1,916,000 | 4,806,000 |
Who pays for insurance claims?
Numbers like these raise the question of who is paying for these losses, specially when considering the return from an policy perspective. Data from the NHTSA suggests that it is not an even rent. Who pays for insurance claims? | NHTSA
| Responsible Party | Percentage of all motor vehicle crash costs |
|---|---|
| Private insurers | 50% |
| Individual crash victims | 26% |
| Third parties, charities, and health care providers | 14% |
| Federal revenues | 6% |
| State and local municipalities | 3% |
With insurance providers covering the bulk of these expenses, U.S. drivers have seen insurance premiums lento creep up in keeping with the ongoing costs associated with these accidents. This is discernible with historical data from the three below and a glimpse at rates from this year. Average annual cost of auto insurance | Insurance Information Institute
| Year | Percent change, year-to-year |
|---|---|
| 2009 | -0.5% |
| 2010 | 0.3% |
| 2011 | 0.7% |
| 2012 | 2.2% |
| 2013 | 3.5% |
| 2014 | 3.4% |
| 2015 | 3.1% |
| 2016 | 5.4% |
| 2017 | 6.5% |
| 2018 | 5.0% |
According to rate data from Quadrant Information Services, nowadays, in 2021, the average cost of car indemnity is $ 1,674 per class for full coverage .
Percentage of uninsured drivers by state
insurance premiums can vary from department of state to state for several reasons, but one major divisor that frequently contributes to car policy costs is uninsured drivers. The IRC credits the economic downturn as a leading cause for uninsured drivers. The Financial Responsibility and Insurance Committee of the American Association of Motor Vehicle Administrators reports that 82 % of uninsured drivers either can not afford insurance or do not have a vehicle that is operable or in habit. An accident with an uninsured driver can be specially damaging because of the potential unaffordability of out-of-pocket costs for repairs, injuries or damages. Yet, uninsured drivers are prevailing throughout the U.S. According to the IRC, about one in eight drivers were uninsured in 2014. About 27 % of Florida drivers were uninsured in 2015, according to the three, although the highest percentage is observed in Mississippi — about 30 % of drivers in this state are uninsured .
Auto insurance costs by state
car insurance is required for drivers in 49 states and Washington, D.C. New Hampshire is the alone state without a compulsory insurance liability jurisprudence. If a driver meets the minimum fiscal obligations in New Hampshire, they may drive without an active car indemnity policy. Where you live has a significant impact on what you will pay for car indemnity. The postpone below shows average annual cable car indemnity rates by submit for fully coverage. Based on average annual rates, Maine and Ohio fall well below the national average. relatively, Florida, New York and Louisiana tend to see the highest rates. Average annual full coverage rates by state | Bankrate.com
Most expensive states for auto insurance
Our 2021 Bankrate annual report shows that some regions of the country continue to face much more expensive premiums than other regions. Louisiana has the highest premiums of the costliest states, with an average annual cost of $ 2,724 per year. The New Orleans metropolitan area is even higher, with an average agio of $ 4,234 per year .
| Rank | State | Average annual premium |
|---|---|---|
| 1. | Louisiana | $2,724 |
| 2. | Florida | $2,364 |
| 3. | New York | $2,321 |
| 4. | Michigan | $2,309 |
| 5. | Nevada | $2,245 |
Least expensive states for auto insurance
Some cities are more low-cost for the average cost of car indemnity. Maine has the cheapest quote premium at $ 965 per year, followed close by Ohio, Idaho, Hawaii and Washington .
| Rank | State | Average annual premium |
|---|---|---|
| 50. | Maine | $965 |
| 49. | Ohio | $1,034 |
| 48. | Idaho | $1,045 |
| 47. | Hawaii | $1,127 |
| 46. | Washington | $1,176 |
Auto insurance industry statistics
Given versatile hazard factors and average annual claim costs, you might wonder what the impact is to car policy providers. These statistics reflect the department of state of the car policy industry :
- The CDC reports that 2010 costs for medical care and productivity losses accounted for almost $100 billion (nearly $500 for every licensed driver in the country).
- Between 2008 and 2017, insurance payments increased by 31% for bodily injury claims and 26% for personal injury protection (PIP) no-fault claims.
Insurance market trends (millions) | NAIC
| 2017 | 2018 | 2019 | |
|---|---|---|---|
| Direct property and casualty insurers | 467,724 | 460,038 | 466,170 |
Some car indemnity companies are more democratic than others due to market share and handiness, competitive rates or higher customer satisfaction. According to the three, companies like State Farm, Berkshire Hathaway ( parent company of Geico and others ), and Progressive all represent the most significant marketplace plowshare, with Allstate and USAA in close pursuit, according to the three. Largest auto insurance providers, by market share | Insurance Information Institute
Auto insurance statistics by age
Age has historically been one of the most meaning factors that car indemnity providers use to determine insurance costs. Research continues to show that age is a drive factor in many fatalities, losses and damages associated with motive vehicle accidents. Below are coarse statistics associated with younger, less-experienced drivers :
- Teen drivers are three times more likely than older drivers to get into a fatal car accident. Factors include inexperience behind the wheel, distracted driving, lack of seatbelt use and risky behaviors behind the wheel.
- Handheld cell phone use is highest among drivers aged 16 to 24.
- Teen drivers typically face more expensive premiums to offset the higher risk.
Auto insurance statistics by gender
Auto policy premiums can besides be affected by sex. not all states can use your sex when calculating policy rates, however. In states like California and Michigan, it is illegal for car insurance companies to use your sex as a factor when determining your insurance rates. however, research shows that sex can be a predictor of driver behavior.
Read more: The 7 Best Car Insurance Companies (2022)
- Men tend to engage in riskier behaviors behind the wheel than women, according to IIHS research.
- Men are typically involved in more motor accidents than women.
- Accidents involving male drivers tend to be more serious than accidents with female drivers.
- Speeding is a factor in 35% of all fatal accidents involving male drivers between 15 and 25.
cable car insurance for adolescent drivers can be dearly-won, but it is even more sol for male 16-year-old drivers, who pay about $ 500 more than their female counterparts. tied as male drivers get older, they hush have marginally higher car insurance premiums than women, on average, as shown below. Average annual full coverage premium by gender and age | Bankrate.com
| Age | Males | Females |
|---|---|---|
| 16-year old | $2,783 | $2,280 |
| 17-year old | $2,485 | $2,015 |
| 18-year old | $5,727 | $4,983 |
| 19-year old | $4,434 | $3,831 |
| 21-year old | $3,149 | $2,787 |
| 22-year old | $2,828 | $2,495 |
| 23-year old | $2,675 | $2,394 |
| 24-year old | $2,535 | $2,282 |
| 25-year old | $2,181 | $2,036 |
| 30-year old | $1,869 | $1,832 |
| 35-year old | $1,813 | $1,790 |
| 40-year old | $1,648 | $1,701 |
| 50-year old | $1,463 | $1,439 |
| 60-year old | $1,421 | $1,389 |
| 70-year old | $1,564 | $1,505 |
Experts suggest that the best thing you can do is denounce and compare quotes to obtain low-cost car policy. Each car indemnity party may have different coverage and discounts options for your policy that can save you quite a snatch on your premium each calendar month .