Do your customers think their auto insurance premiums are hefty? If they live in these 10 states, they might have a point.
The National Association of Insurance Commissioners (NAIC) has released its 2011/2012 Auto Insurance Database Report, including calculations for average annual auto insurance premiums for all 50 U.S. states and the District of Columbia. The NAIC Property and Casualty Insurance Committee directed the Casualty Actuarial and Statistical Task Force to develop the report, which is intended to help states assess their insurance markets.
The report uses written premium and exposure data obtained statistical agents for the years 2008-2012 for the combined voluntary and residual market. NAIC identifies premium and average expenditure, pure premium, loss ratio, claim frequency, and claim severity for each state, as well as auto insurance coverages including bodily injury and property damage liability (including no-fault), uninsured and underinsured motorist coverages, medical payments, collision, and comprehensive.
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