Up-to-date facts and figures about car insurance in the U.S.
$285 billion • The amount the auto industry was predicted to have generated in 2019^
$1,133.92 • The average annual cost of auto insurance in the U.S.†
13% • The percentage of all U.S. drivers who were uninsured in 2015, that’s one in eight drivers‡
26.7% • The percentage of drivers without car insurance in Florida, the state with the highest percentage of uninsured drivers in 2015‡
4.5% • The percentage of drivers without car insurance in Maine, The state with the lowest number of uninsured drivers in 2015‡
79% • The percentage that medical expenses made up of all claimed economic losses in auto claims in 2017‡
$15,506 • The average cost per bodily injury claim in 2013‡
† National Association of Insurance Commissioners
‡ Insurance Research Council
The make and model of the car you drive helps determine your premiums. According to AAA’s 2020 Your Driving Costs study, which broke down the average annual costs associated with nine different types of vehicles, the cheapest type of car to insure was a small SUV, at an annual cost of $1,087, and the most expensive was a small sedan, with an annual cost of $1,342.
|Type of car||Annual cost of car insurance|
As we mentioned earlier, at least some amount of car insurance coverage is required in almost every U.S. state. The state that you live in also helps determine what you’ll pay for car insurance — some states have much higher average annual insurance premiums than others. Here’s the average annual insurance premium by state in 2015, according to the NAIC’s 2017 report.
|State||Average annual car insurance premium|
|District of Columbia||$1,466.27|
Different types of car insurance coverage also contribute differently to your monthly costs. Liability insurance, the backbone of most policies, is required in almost every state. Other types of coverage that protect your vehicle, like comprehensive and collision, aren’t required by law but are part of what’s often referred to as full coverage insurance.
The NAIC broke down the average annual premium for different types of car insurance coverage in 2017, the most recent year for which data is available.
|Type of coverage||Average annual cost nationwide|
Home & Auto Insurance Comparison Made Easy
Bundlers have saved 27% by switching with Policygenius.
The NAIC ranks insurance companies by their total share of the market. The following table shows the top ten insurers for private auto, along with their percentage share of the market, according to a 2019 report from the NAIC.
|Company Name||Market Share in 2019|
|State Farm||16.10 %|
|Liberty Mutual||4.61 %|
|American Family||2.28 %|
Anna Swartz is a Managing Editor at Policygenius, where she has been since 2018. An expert in home, auto and renters insurance, she loves making tough concepts easy to understand and helping readers feel confident about their insurance options. Before joining Policygenius, she was a senior staff writer at Mic. Her work has appeared in The Dodo, AOL, HuffPost, Salon and Heeb.
Stephanie Nieves is an insurance editor at Policygenius in New York City, specializing in auto and home insurance. She's been writing about insurance, finance and financial planning since 2018, and loves helping readers get the knowledge they need to make financial decisions with confidence. Her words can also be found on PayScale, Fairygodboss, and The Muse.
Was this article helpful?