Filed Under:Markets, Personal Lines

NAIC Latest Report Shows Auto Rates Climbed as of 2010

Average auto insurance premium and expenditure rates rose by less than 1 percent in 2010 from the previous two years, with Louisiana and Washington D.C. holding the top spots for the most expensive states to insure a car, according to the National Association of Insurance Commissioners’ latest figures.

The NAIC released its 254 page “Auto Insurance Data Base Report 2009/2010” this week, its latest report on the auto insurance market, which shows average premiums and expenditures rose close to $6 nationally to $907.38.

Insurance Information Institute President and Chief Economist Robert Hartwig says that the figures underscore a general pattern in auto-insurance pricing.

Hartwig says that, heading into 2013, premium and expenditures will likely continue to increase for a number of reasons, such as insured losses from severe weather damage throughout the country, and consumers replacing older cars they held onto during the economic downturn.

“We don’t expect to see radical changes in the numbers, but we do expect to see a general upward drift in the numbers,” says Hartwig.

Top Story

10 websites (besides Google) that insurance investigators can use to research claims

Here are 10 sites that can provide a treasure-trove of information at your fingertips.

Top Story

You'll never guess the 10 states with the rudest drivers

Turns out rude drivers don't live only in New York and LA. In fact, just a few of them do.

More Resources

Comments

eNewsletter Sign Up

Personal Lines Pro eNewsletter

Critical insights into the personal auto, homeowners, and other consumer insurance markets to help P&C professionals stay informed – FREE! Sign Up Now!

Mobile Phone
         
Close

Advertisement. Closing in 15 seconds.