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Drivers in 15 States Pay In Excess of $1,000 for Automobile Coverage

September 16, 2005

The average auto insurance premium in the country was about $939 in 2003, or about six percent higher than it was in 2002. For that same year, drivers in 15 states paid above $1,000 a year in premium, according to a report from the nation’s state insurance commissioners.

The state’s where drivers in 2003 paid the most on average, in order, were: New Jersey ($1,365); New York ($1,313); District of Columbia ($1,277); Rhode Island ($1,156); Louisiana ($1,174); Massachusetts ($1,134); Alaska ($1,110); Florida ($1,104); Connecticut ($1,088) and Michigan ($1,080).

Other states where the average premium exceeded $1,000 were Arizona, Colorado, Delaware, Nevada, and West Virginia.

The lowest average premiums were reported in Iowa ($679), Wisconsin ($693) and North Dakota ($695).

The National Association of Insurance Commissioners released the 2002/2003 Auto Insurance Database Report, which provides the average costs associated with personal automobile insurance nationwide.

The report includes written premium and exposure data for calendar years 1999-2003, earned premium and exposure data, and incurred loss and claims data for calendar/accident years 2000-2002.

The NAIC notes that that there are differences in state requirements for insurance coverage and that many factors including driving locations, accident rates, traffic density, auto theft rates, repair costs and state auto laws affect premiums, making direct state-by-state comparisons difficult.

The full 223-page report is available on the NAIC Web site at https://external-apps.naic.org/insPubs/index.jsp.

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