The U.S. collected $324.2 billion in auto insurance premiums in 2023, covering about 71.0% of roughly 1.68 billion registered vehicles. Pricing pressure shows up alongside a clear consumer gap, including 23% of drivers dissatisfied with auto insurance settlement amounts. With 25% of drivers shopping for coverage at renewal and 19% delaying claims over premium fears, the market’s size turns into a day-to-day affordability and trust test.
Key Takeaways
- $324.2 billion in U.S. auto insurance premiums in 2023
- U.S. auto insurers earned $1,089 per insured vehicle in 2022
- 1,676.0 million registered vehicles in the United States in 2022 (about 1.68 billion vehicles total)
- 25% of drivers reported they are shopping around for car insurance at renewal in the past 12 months
- Average annual liability-only premium in the U.S. was $608 in 2024
- Total incurred losses for U.S. private passenger auto were $232.3 billion in 2023
- Medical cost inflation contributed to higher auto bodily injury claim severity by 2023
- In 2024, 22 U.S. states reported auto insurance premium increases greater than 10%
- In 2023, the average U.S. insurer expense ratio for private passenger auto was 33.1%
- 27% of U.S. drivers purchased car insurance online or through a comparison site in 2024
- 19% of consumers reported they delayed making a claim due to concerns about premium increases in the U.S. in 2023
- 62% of U.S. drivers said they compare quotes before purchasing car insurance
- Telematics discounts averaged 10% to 25% off premiums for safe-driving participants in U.S. programs
- Underwriting automation reduced quote creation time by 60% in a 2023 insurer case study
- API-based integrations accounted for 40% of digital distribution workflows in insurance in 2023
In 2023, rising losses and claim costs pushed U.S. auto premiums higher while drivers increasingly compared options online.
Related reading
01 · Category
Market Size4 stats
01
$324.2 billion in U.S. auto insurance premiums in 2023
02
U.S. auto insurers earned $1,089per insured vehicle in 2022
03
1,676.0 million registered vehicles in the United States in 2022 (about 1.68 billion vehicles total)
04
71.0% of registered vehicles in the U.S. were insured in 2022 (insured share of registered vehicles)
Interpretation
Market Size Interpretation
In 2023, the U.S. auto insurance market was worth $324.2 billion, covering about 71.0% of the 1.676 billion registered vehicles in 2022, which translates to insurers earning roughly $1,089 per insured vehicle and underscores the scale of insured demand.
02 · Category
Pricing & Claims3 stats
01
25% of drivers reported they are shopping around for car insurance at renewal in the past 12 months
02
Average annual liability-only premium in the U.S. was $608in 2024
03
Total incurred losses for U.S. private passenger auto were $232.3 billion in 2023
Interpretation
Pricing & Claims Interpretation
In Pricing and Claims, with 25% of drivers shopping for car insurance at renewal in the past 12 months and the U.S. average liability-only premium sitting at $608 in 2024, the scale of claims costs is also huge as total incurred losses for private passenger auto reached $232.3 billion in 2023, underscoring why insurers must price carefully while managing losses.
03 · Category
Industry Trends5 stats
01
Medical cost inflation contributed to higher auto bodily injury claim severity by 2023
02
In 2024, 22 U.S. states reported auto insurance premium increases greater than 10%
03
In 2023, the average U.S. insurer expense ratio for private passenger auto was 33.1%
04
In 2023, the number of connected vehicles in the U.S. reached 282 million (including IoT-equipped vehicles)
05
EVs represented 18% of new vehicle sales in Norway in 2023
Interpretation
Industry Trends Interpretation
Industry trends in car insurance are being shaped by rising claims and costs, with 22 states seeing premium hikes over 10% in 2024 and medical cost inflation driving higher bodily injury severity by 2023, even as the market modernizes through massive connected-vehicle growth to 282 million in the U.S. by 2023.
04 · Category
Customer Behavior7 stats
01
27% of U.S. drivers purchased car insurance online or through a comparison site in 2024
02
19% of consumers reported they delayed making a claim due to concerns about premium increases in the U.S. in 2023
03
62% of U.S. drivers said they compare quotes before purchasing car insurance
04
30% of insureds reported using telematics to potentially reduce premiums in 2023
05
23% of consumers reported being dissatisfied with the amount offered in auto insurance settlements in the U.S. in 2023
06
55% of consumers said transparency of coverage terms influences their purchasing decisions for auto insurance
07
Of U.S. drivers, 48.6% were concerned about higher premiums after filing a claim in 2021 (share expressing premium-concern motivation)
Interpretation
Customer Behavior Interpretation
Customer behavior in car insurance shows a clear pattern of price and value sensitivity, with 62% comparing quotes and 27% shopping online or via comparison sites in 2024, while 55% say transparency of coverage terms drives their decisions.
More related reading
05 · Category
Technology & Telematics3 stats
01
Telematics discounts averaged 10% to 25% off premiums for safe-driving participants in U.S. programs
02
Underwriting automation reduced quote creation time by 60% in a 2023 insurer case study
03
API-based integrations accounted for 40% of digital distribution workflows in insurance in 2023
Interpretation
Technology & Telematics Interpretation
In Technology and Telematics, insurers are increasingly using connected safety tools and digital automation to deliver measurable savings and speed, with telematics discounts averaging 10% to 25% and underwriting automation cutting quote creation time by 60%, while API-based integrations drive 40% of digital distribution workflows in 2023.
06 · Category
Pricing & Underwriting3 stats
01
4.8% of auto insurance policies lapsed or were non-renewed in 2023 (share of policies experiencing lapse/non-renewal)
02
Private passenger auto insurers incurred a loss ratio of 77.1% in 2023 (losses as a share of earned premiums)
03
Collision and comprehensive deductibles averaged $972in 2023 (average deductible level on comprehensive/collision coverage)
Interpretation
Pricing & Underwriting Interpretation
In 2023, underwriting performance in personal auto pricing looked relatively healthy as only 4.8% of policies lapsed or were non-renewed and private passenger insurers posted a 77.1% loss ratio, while average collision and comprehensive deductibles remained high at $972.
07 · Category
Claims & Losses2 stats
01
12.4% of people killed in crashes were unrestrained in the U.S. in 2022 (seat belt non-use share of fatalities)
02
4.2% of all drivers involved in fatal crashes were impaired by drugs other than alcohol in 2022 (share of fatal-crash drivers)
Interpretation
Claims & Losses Interpretation
For the Claims and Losses category, the data shows that in the U.S. in 2022, 12.4% of crash fatalities involved unrestrained occupants and 4.2% of fatal-crash drivers were impaired by drugs other than alcohol, underscoring how preventable behaviors continue to drive serious losses.
08 · Category
Technology & Digital1 stats
01
57% of claims are submitted digitally in the insurance industry in the U.S. (share of claims submitted digitally)
Interpretation
Technology & Digital Interpretation
In the U.S. insurance industry, 57% of car insurance claims are submitted digitally, showing how strongly technology is shaping the claims process under the Technology & Digital category.
report visual · Comparison
Car insurance adoption and shopping behavior snapshot
A large share of U.S. drivers compare quotes before buying, and online/comparison channels account for about a quarter of purchases.
62% of U.S. drivers said they compare quotes before purchasing car insurance62%
27% of U.S. drivers purchased car insurance online or through a comparison site in 2024
27%
25% of drivers reported they are shopping around for car insurance at renewal in the past 12 months
25%
source-verifiedvaluepenguin.com · jdpower.com2024
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Samuel Norberg. (2026, February 13). Car Insurance Statistics. Gitnux. https://gitnux.org/car-insurance-statistics
MLA
Samuel Norberg. "Car Insurance Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/car-insurance-statistics.
Chicago
Samuel Norberg. 2026. "Car Insurance Statistics." Gitnux. https://gitnux.org/car-insurance-statistics.
Sources & references
28 datasets cited across this report · attribution is report-level
+12 additional datasets cited (not shown individually)