The number of drivers shopping for auto policies is at its highest rate in almost two years, according to a recent report from J.D. Power. Much of this shopping is being driven by increased premiums, and a recent ValuePenguin analysis showed the national average annual premium for full coverage car insurance – which in this case includes liability, collision and comprehensive coverages – in the United States is $1,780. The average 2023 rate increase for customers across the U.S. was 8.4%, which is a major jump from the 1.3% increase the average customer saw in 2022. Overall, ValuePenguin found, the average cost of auto insurance has risen 16.5% since 2017. Several factors have driven these rate increases, including the rising cost of cars and replacement parts, increased claims from climate disasters and extreme weather, and an increase in the sale of electric vehicles, which are generally around 28% more expensive to insure than their gas-powered counterparts. Drivers in Illinois saw the largest year-over-year increase (17.1%), followed by Arizona (15.6%), Georgia (13.8%) and New Hampshire (13.6%). The only states to manage rate increases lower than 1% in 2023 were California, Washington, D.C., Hawaii, Vermont and Wyoming. In the slideshow above, we'll look at which personal auto insurers finished 2022 on top, according to the National Association of Insurance Commissioners (NAIC).

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