Average U.S. Auto Insurance Premium Rose 12.12% in 2024; Average Expenditure Hit $1,431.63
The combined average auto insurance premium in the United States rose 12.12% in 2024, according to an auto premium data supplement released by the National Association of Insurance Commissioners (NAIC). The average expenditure per insured vehicle reached $1,431.63, up 36.64% since 2020.
The steepest increase came in comprehensive coverage, which protects against non-collision losses: its average premium climbed 18.66% in 2024, while comprehensive exposures grew only 0.35%. In other words, the increase was driven by the cost per unit of risk, not by more vehicles being insured.
The report covers 2020 through 2024 and draws on data from statistical agents including AAIS, ISO, NISS and ISS, as well as the California and Texas departments of insurance, Massachusetts' MA CAR and the Maryland Auto Insurance Fund.
The NAIC is the standard-setting and regulatory support organization created and governed by the chief insurance regulators of all 50 states, the District of Columbia and U.S. territories. Its compiled supplements are widely used by state regulators and insurers for pricing and market monitoring.
For drivers, the report signals that higher auto insurance costs are a nationwide trend across coverage types. Regulators advise consumers facing a rate increase to compare quotes and to review whether their coverage limits and deductibles still fit their needs. (Source: National Association of Insurance Commissioners)
Source: National Association of Insurance Commissioners
Published by GSM · USA (original Chinese edition)
Photo: 图：全美平均车险支出持续上升。Wikimedia Commons 授权图片。 / Photo: Traffic on a U.S. highway. Image via Wikimedia Commons.
