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The average auto insurance expenditure dropped from $789 in 2008 to $785 in 2009, according to a January 2012 report from the National Association of Insurance Commissioners. In 2009 (the latest data available), the average expenditure was highest in the District of Columbia ($1,128), followed by New Jersey ($1,101) and Louisiana ($1,099).

AAA’s 2012 Your Driving Costs study found that the average cost to own and operate a sedan was about $8,946 in 2011, up by 1.9 percent, or about $170 from the previous year. The cost reflects relatively large increases in fuel and tire costs, and more moderate increases in other areas, with those hikes mitigated by a decrease in depreciation costs. Average insurance costs for sedans rose 3.4 percent, or $33, to $1,001. This contrasts with the previous year, when costs dropped by 6.1 percent to $968. AAA insurance cost estimates are based on typical coverage for a low-risk driver with a clean driving record for a policy with a $500 deductible for collision and a $100 deductible for comprehensive coverage. Figures are not comparable with the National Association of Insurance Commissioners’ Auto Expenditures (NAIC) data below. The average expenditure for auto insurance was $785 in 2009, according to the latest figures available from the NAIC. A September, 2012 analysis by the Insurance Information Institute (I.I.I.) forecasts that the average annual expenditure for auto insurance will rise to $839 in 2012, up from $816 in 2010 and $808 in 2010, based on I.I.I. estimates.

Source: www.iii.org

Posted 6:50 PM

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