The National Association of Insurance Commissioners has released the Auto Insurance Database Average Premium Supplement for 2023, providing written premium and exposure data for calendar years 2019–2023. The supplement is intended to make this data available faster than the timeline for the full Auto Insurance Database Report. The release highlights that combined average premiums increased by 14.41% in 2023. It also reports average expenditures of USD 1,281.60 in 2023, a 19.21% increase since 2019, and notes that comprehensive average premiums rose 21.31% in 2023 while comprehensive written exposures increased 0.38%. The data was obtained from multiple statistical agents, as well as the California Department of Insurance and the Texas Department of Insurance, with a note that some data from other small statistical agencies may not be included. The tables in the 2023 supplement will be incorporated into the Auto Insurance Database Report 2022–2023, which the NAIC expects to release later this year.
National Association Of Insurance Commissioners 2025-07-08
National Association of Insurance Commissioners releases 2023 auto insurance average premium supplement highlighting a 14.41% rise in combined average premiums
The National Association of Insurance Commissioners released the Auto Insurance Database Average Premium Supplement for 2023, showing a 14.41% increase in combined average premiums. Average expenditures rose to USD 1,281.60, marking a 19.21% increase since 2019, with comprehensive premiums up 21.31% and exposures up 0.38%. Data was sourced from multiple statistical agents and state insurance departments, with some smaller agencies' data possibly excluded.