Car insurance in the U.S. - Statistics & Facts

As of 2015 there were over 268 million registered vehicles on the roads in the United States. Of those millions of registered vehicles, each year there are also millions of vehicle crashes. In 2015, there were 32,166 fatalities, 1,715,000 injuries and 4,548,000 car crashes which involved property damage. Of these fatalities, there are far more driver deaths, than passenger, pedestrian or motorcyclist deaths. So while many of us feel secure in our vehicles, the statistics indicate the importance of automobile insurance and in most cases, auto insurance is required by law. Auto insurance is important because it not only covers any physical damage that may occur in an accident, but also any damage or injury that might be caused because of a vehicular accident or which may be done upon oneself or one’s vehicle by another vehicle or accident – a falling tree for example.

Of course, auto insurance comes at a cost to the car owner and the younger the owner the more expensive car insurance typically is. In 2016, the average cost of car insurance for 19 year old males was around 2,154 U.S. dollars and for 19 year old females it was around 1,930 U.S. dollars. The price of car insurance drops significantly as people get older and the gap in price between the genders also levels out. There are also geographical differences when it comes to the price of auto insurance. For instance, the most expensive state for auto insurance in the United States was Michigan. In Michigan, the average cost of auto insurance was 2,551 U.S. dollars in 2017.

Most Americans get their car insurance from a captive agency; however an increasing number of people now get car insurance from direct response where no insurance agents are involved. A 2017 survey showed that consumers remain skeptical of peer-to-peer car insurance with only just over a quarter of the respondents stating that they trust it.

This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
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Number of vehicles registered in the U.S.

269m

Largest U.S. private passenger car insurer by direct premiums written

State Farm Mutual Automobile Insurance
Motor vehicles
Number of vehicles registered in the U.S. 269m Number of total vehicle crashes in the U.S. 6.06m Number of people injured in motor vehicle crashes in the U.S. 2.44m Interest rates on auto loans in the U.S. 4.83%

Top 100 Insurance Companies (Global)

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Overview
Largest U.S. private passenger car insurer by direct premiums written State Farm Mutual Automobile Insurance Largest U.S. commercial car insurer by direct premiums written Progressive Corp. Incurred losses for auto insurance in the U.S. 163.24bn USD
Consumer expenditure
Avg car insurance premium for a 19-year old female driver in the U.S. 1,930 USD Avg car insurance premium for a 16-year old driver in the U.S. 8,226 USD Estimated annual car insurance premiums in Massachusetts 1,604 USD
Consumer perspective
U.S. region with highest car insurance satisfaction Southeast Share of Americans who comparison shop for car insurance every few years 27% Share of Americans who already share data with their car insurer 35% Share of Americans who trust P2P car insurance 27% Share of American Millennials who believe zip codes affect car insurance rates 59% Greatest insurance risk of autonomous vehicles in the U.S. Cyber security

Car insurance in the United States - Important statistics

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Car insurance in the United States
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The whole topic in one document

Car insurance in the United States
  • Edited and prepared
  • Download in PPT/PDF format
  • Instant access
  • From $365
View dossier
Motor vehicles
Number of vehicles registered in the U.S. 269m Number of total vehicle crashes in the U.S. 6.06m Number of people injured in motor vehicle crashes in the U.S. 2.44m Interest rates on auto loans in the U.S. 4.83%

Top 100 Insurance Companies (Global)

Global toplist
  • all top companies in a given industry or region
  • Includes contact details and key figures
  • available to download in Excel format for a seamless workflow
Go to report

InsurTech 2017

Statista Digital Market Outlook - Trend Report
  • all essential data on the digital and consumer goods sector
  • available to download in PDF and Excel format for a seamless workflow
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Insurance in the U.S. 2018

Statista Industry Report - NAICS Code 524
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Overview
Largest U.S. private passenger car insurer by direct premiums written State Farm Mutual Automobile Insurance Largest U.S. commercial car insurer by direct premiums written Progressive Corp. Incurred losses for auto insurance in the U.S. 163.24bn USD
Consumer expenditure
Avg car insurance premium for a 19-year old female driver in the U.S. 1,930 USD Avg car insurance premium for a 16-year old driver in the U.S. 8,226 USD Estimated annual car insurance premiums in Massachusetts 1,604 USD
Consumer perspective
U.S. region with highest car insurance satisfaction Southeast Share of Americans who comparison shop for car insurance every few years 27% Share of Americans who already share data with their car insurer 35% Share of Americans who trust P2P car insurance 27% Share of American Millennials who believe zip codes affect car insurance rates 59% Greatest insurance risk of autonomous vehicles in the U.S. Cyber security

Recommended statistics

U.S. vehicle registrations 1990-2016
Leading writers of private passenger auto insurance in the U.S. 2016, by premiums
Incurred losses for auto insurance in the U.S. 2011-2016
Combined ratio of commercial auto insurance in the U.S. 2009-2015
Value of U.S. private passenger auto insurance sector 2015, by distribution channel
Trustworthiness of peer-to-peer car insurance according to consumers in the U.S. 2017

Infographics on the topic

Car insurance in the United States Infographic - Cell Phones Cause 70,000 Crashes a Year on U.S. Roads

Infographics on the topic

Car insurance in the United States Infographic - Cell Phones Cause 70,000 Crashes a Year on U.S. Roads

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