From 2015 to 2019 the total value of all car insurance premiums grew from $189 billion to $239 billion. During this period, the entire auto insurance industry issued $1.1 trillion in premiums.
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Along with breaking down the value of the insurance business, Policygenius has gathered some other auto insurance statistics you should know, including the size of the largest companies, and how the typical costs of getting auto insurance have changed over time.
Car insurance statistics: by the numbers
$239 billion • The amount the auto industry generated in 2019 in written premiums [1]
$1,638 per year • The average annual cost of auto insurance in the U.S. for drivers aged 30 to 45, according to Policygenius.
12.6% • The share of all U.S. drivers who were uninsured in 2019. [2]
29.4% • The percentage of drivers without car insurance in Mississippi, the state with the highest percentage of uninsured drivers in 2019.
3.9% • The average percent per year that the cost of insurance has increased during the last decade, according to the Consumer Price Index. [3]
$200.1 billion • The total premium amount of all policies the 15 largest insurers issued in 2020. [4]
Auto insurance premium trends
From 2015 to 2019 (the most recent year for available data), the entire auto insurance industry took in $1.1 trillion in premiums, before losses. In 2019, insurers took in a total of $238.7 billion in auto insurance premiums before losses — up 27% from the $189.5 billion in combined value in 2015.
During this period, 61% of this value came from liability coverage, including both bodily injury and property damage liability, as well as medical payments coverage, underinsured and uninsured motorist coverage, and more. For comparison, collision premiums accounted for 27% of the combined $1.1 trillion, and comprehensive coverage made up a 13% share.
Year | Total premiums written | Liability | Comprehensive | Collision |
|---|---|---|---|---|
2015 | $188,541,093,697 | $114,155,468,085 | $24,210,502,017 | $50,175,123,595 |
2016 | $202,684,436,433 | $122,637,763,709 | $25,610,241,516 | $54,436,431,208 |
2017 | $217,518,449,804 | $132,332,049,280 | $26,972,361,714 | $58,214,038,810 |
2018 | $232,846,787,082 | $142,027,256,699 | $28,968,030,655 | $61,851,499,728 |
2019 | $238,740,075,981 | $145,042,902,448 | $30,160,039,313 | $63,537,134,220 |
Total | $1,080,330,842,997 | $656,195,440,221 | $135,921,175,215 | $288,214,227,561 |
→ Read more about the different types of coverage that come with car insurance
Average car insurance premiums by coverage type
Your car insurance premiums vary depending on the amount of coverage that you get, as well as the types of car insurance coverage you buy.
From 2015 to 2019 the cost of liability coverage increased by an average of 20%. During the same period, comprehensive coverage went up by 16% and collision coverage went up by 18%. The average insurance premiums (for all levels of coverage) was $1,123 during this period.
Year | Liability | Comprehensive | Collision |
|---|---|---|---|
2015 | $543 | $148 | $323 |
2016 | $572 | $152 | $342 |
2017 | $614 | $160 | $364 |
2018 | $646 | $168 | $378 |
2019 | $650 | $172 | $381 |
Rates provided by Quadrant Information Services. Rates provided are a sample of costs. Your actual quotes may differ.
Auto insurance premiums by car type
In part, the kind of car you drive affects what you pay for insurance. According to our analysis of public rate data, the most expensive type of car to insure is a sedan, followed by an electric sedan. On the other hand, the cheapest to insure is an SUV at $1,886 per year.
Auto insurers determine the cost to insure your car by checking the number of claims, accidents, and theft risk for cars like yours. Pricey vehicles are also more expensive to insure than cheaper cars, which would be less expensive to replace after an accident.
Type | Cost |
|---|---|
Sedan | $2,231 |
Sedan - electric | $2,063 |
Small SUV | $2,025 |
Pickup | $1,890 |
SUV | $1,886 |
Average rates for 30-year-old drivers. List of cars provided in methodology. Rates provided by Quadrant Information Services. Rates provided are a sample of costs. Your actual quotes may differ.
→ Read more about how the make and model of your car affects what you pay for insurance
Auto insurance costs by state
Our analysis reveals that the cheapest state for minimum coverage car insurance is Iowa, and North Carolina is the cheapest for full coverage. On the other hand, the most expensive state for minimum coverage is Florida, and Louisiana is the most expensive for full coverage.
State | Cost of minimum coverage | Cost of full coverage |
|---|---|---|
$611 | $1,856 | |
$433 | $1,420 | |
$640 | $1,650 | |
$524 | $1,883 | |
$601 | $1,937 | |
$544 | $1,951 | |
$949 | $1,864 | |
$988 | $2,148 | |
$678 | $1,837 | |
$1,253 | $2,850 | |
$817 | $1,769 | |
$424 | $1,200 | |
$400 | $1,186 | |
$558 | $1,488 | |
$453 | $1,295 | |
$317 | $1,228 | |
$493 | $1,700 | |
$931 | $2,257 | |
$993 | $3,056 | |
$448 | $1,237 | |
$898 | $1,890 | |
$612 | $1,690 | |
$888 | $2,446 | |
$547 | $1,451 | |
$543 | $1,814 | |
$564 | $1,670 | |
$497 | $1,978 | |
$424 | $1,843 | |
$958 | $2,204 | |
$462 | $1,248 | |
$1,154 | $2,304 | |
$459 | $1,555 | |
$974 | $2,205 | |
$423 | $1,013 | |
$406 | $1,462 | |
$386 | $1,087 | |
$496 | $1,860 | |
$769 | $1,503 | |
$501 | $1,693 | |
$868 | $1,966 | |
$779 | $1,955 | |
$339 | $1,672 | |
$460 | $1,426 | |
$643 | $1,896 | |
$672 | $1,577 | |
$380 | $1,223 | |
$570 | $1,409 | |
$619 | $1,730 | |
$626 | $1,777 | |
$348 | $1,116 | |
$321 | $1,470 |
Average rates for 30-year-old male and female drivers. Rates provided by Quadrant Information Services. Rates provided are a sample of costs. Your actual quotes may differ.
It's a good idea to get more than the minimum amount of coverage if you can afford it. While you'll be able to drive legally as long as you meet your state's requirements, not having enough car insurance puts you at risk of paying for damage to your car and others' property yourself.
If the cost of coverage is higher than average in your state, you should compare rates from multiple companies to find the one that offers you the best protection at the cheapest price
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Percentage of drivers without auto insurance
Even though car insurance is required in nearly every state, there are still lots of uninsured drivers who don't have coverage. Nationally, 12.6% of all drivers are uninsured, though this number varies by state.
The state with the highest percentage of uninsured drivers is Mississippi, where 29.4% of drivers don't have car insurance. Mississippi is one of five states where at least 1 in 5 drivers is uninsured — the others are Michigan, Tennessee, New Mexico, Washington, and Florida.
On the other hand, New Jersey has the lowest percentage of uninsured drivers. Just 3.1% of the drivers in the Garden State are uninsured.
State | Uninsured drivers |
|---|---|
Mississippi | 29.4% |
Michigan | 25.5% |
Tennessee | 23.7% |
New Mexico | 21.8% |
Washington | 21.7% |
Florida | 20.4% |
Alabama | 19.5% |
Arkansas | 19.3% |
District of Columbia | 19.1% |
California | 16.6% |
Rhode Island | 16.5% |
Missouri | 16.4% |
Colorado | 16.3% |
Alaska | 16.1% |
Indiana | 15.8% |
Maryland | 14.1% |
Kentucky | 13.9% |
Oklahoma | 13.4% |
Wisconsin | 13.3% |
Idaho | 13.2% |
Ohio | 13.0% |
North Dakota | 13.0% |
Georgia | 12.4% |
Arizona | 11.8% |
Illinois | 11.8% |
Louisiana | 11.7% |
Iowa | 11.3% |
Kansas | 10.9% |
South Carolina | 10.9% |
Oregon | 10.7% |
Virginia | 10.5% |
Nevada | 10.4% |
Minnesota | 9.9% |
Hawaii | 9.3% |
Nebraska | 9.3% |
West Virginia | 9.2% |
Vermont | 8.8% |
Montana | 8.5% |
Delaware | 8.5% |
Texas | 8.3% |
South Dakota | 7.4% |
North Carolina | 7.4% |
Utah | 6.5% |
Connecticut | 6.3% |
New Hampshire | 6.1% |
Pennsylvania | 6.0% |
Wyoming | 5.8% |
Maine | 4.9% |
New York | 4.1% |
Massachusetts | 3.5% |
New Jersey | 3.1% |
States sorted from largest to smallest percentage of uninsured drivers.
→ Read more about what happens when you get into an accident without insurance
Cost of auto insurance premiums compared to other goods
Auto insurance has gotten more expensive over the course of the last decade. The Consumer Price Index, a measurement that the U.S. Bureau of Labor Statistics uses to track the average change over time in consumer prices, shows that the cost of car insurance has gone up by an average of 3.9% per year since 2011.
The largest year over year change came in 2017, when the CPI shows that the cost of auto coverage increased by 7.7% nationwide. Only in 2020, when drivers stayed off the roads during the height of the COVID-19 pandemic, were prices lower compared to the previous year.
For comparison, according to the CPI the prices of all goods rose by an average of 2% per year during this time.
Year | Price change | Price change - all goods |
|---|---|---|
2011 | 3.6% | 3.2% |
2012 | 3.6% | 2.1% |
2013 | 4.2% | 1.5% |
2014 | 4.2% | 1.6% |
2015 | 5.4% | 0.1% |
2016 | 6.2% | 1.3% |
2017 | 7.7% | 2.1% |
2018 | 7.4% | 2.4% |
2019 | 0.9% | 1.8% |
2020 | -4.6% | 1.2% |
2021 | 3.8% | 4.7% |
Largest auto insurance companies
Three insurance groups — State Farm, Berkshire Hathaway, and Progressive — control 43% of the auto insurance industry in the United States. State Farm, the largest of any of the major car insurers, made a total of $40.4 billion in premiums, before losses, in 2019.
In 2019, the written premiums from the 15 largest auto insurance companies totaled $200.4 billion. According to the National Association for Insurance Commissioners (NAIC), the largest 28 auto insurance groups wrote at least $1 billion in premiums in 2019.
Rank | Group | Direct written premiums | Market share |
|---|---|---|---|
1 | State Farm | $40.4 billion | 16.2% |
2 | Berkshire Hathaway (GEICO) | $33.8 billion | 13.5% |
3 | Progressive | $33.2 billion | 13.3% |
4 | Allstate | $22.7 billion | 9.1% |
5 | USAA | $15.8 billion | 6.3% |
6 | Liberty Mutual | $11.8 billion | 4.7% |
7 | Farmers | $10 billion | 4.0% |
8 | Nationwide | $5.8 billion | 2.3% |
9 | American Family | $5.2 billion | 2.1% |
10 | Travelers | $4.9 billion | 2.0% |
11 | Auto Club | $3.6 billion | 1.4% |
12 | Kemper | $3.5 billion | 1.4% |
13 | Erie | $3.4 billion | 1.4% |
14 | Auto Owners | $3.3 billion | 1.3% |
15 | National General | $3.2 billion | 1.3% |
→ Read more about our breakdown of the best companies for car insurance
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Methodology
Policygenius has analyzed car insurance rates provided by Quadrant Information Services for every ZIP code in all 50 states plus Washington, D.C. For full coverage policies, the following coverage limits were used:
Bodily injury liability: 50/100
Property damage liability: $50,000
Uninsured/underinsured motorist: 50/100
Comprehensive: $500 deductible
Collision: $500 deductible
In some cases, additional coverages were added where required by state or insurer.
Rates for overall average rate, rates by ZIP code, and cheapest companies determined using averages for single drivers ages 30, 35, and 45. Our sample vehicle was a 2017 Toyota Camry LE driven 10,000 miles/year.
Our analysis on the cost of auto insurance by car type uses rates from the following cars:
Tesla Model Y
Tesla Model 3
Honda Accord
Ram 1500
Toyota Corolla
Toyota Camry
Chevrolet Bolt EV
Honda Civic
Nissan Leaf
Toyota RAV4
Chevrolet Silverado
Nissan Rogue
Subaru Forester
Ford Explorer
Jeep Grand Cherokee
Toyota Highlander
Jeep Wrangler
Ford Escape
Chevrolet Equinox
Subaru Outback
Toyota Tacoma
GMC Sierra
Honda CR-V
Ford F-150
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
