Vehicle Insurance Spending Statistics
Published September 16, 2026 · StatsGalore
Average annual vehicle-insurance spending in 2024 [1]
Average vehicle-insurance expenditures were $1,993 per consumer unit in 2024, compared with $1,775 in 2023 and $1,592 in 2022. BLS reported a 12.3% increase from 2023 to 2024 and marked that change as statistically significant in its expenditure table. [1]
The numbers
| Year | Average annual expenditures | Source |
|---|---|---|
| 2022 | $1,592 | [1] |
| 2023 | $1,775 | [1] |
| 2024 | $1,993 | [1] |
This is spending per consumer unit
The estimate applies to consumer units, not to insured vehicles or individual policyholders. A unit may have several people and vehicles, while another may have none. That makes the figure different from the average premium for a particular car.
The survey average includes the effects of the number and types of policies purchased. It is not a quote and should not be used to predict what a specific driver will pay.
[1]Expenditure growth is not a pure price index
The annual increase can reflect policy prices, the number of insured vehicles, coverage choices, and changes in the survey population. The spending measure alone cannot separate those influences.
A vehicle-insurance price index asks a more specific question about price changes. Comparing its growth rate with expenditure growth can be informative only when the difference between price and total spending is made explicit.
[1]How vehicle insurance fits into transportation
Vehicle insurance appears within other vehicle expenses in the BLS table, which in turn sits within transportation. These are nested categories. Adding them together would count the same insurance spending more than once.
The broader transportation budget also includes vehicle purchases, gasoline, and public or other transportation. A change in insurance spending does not establish that the entire transportation budget changed at the same rate.
[1]Interpreting the time series
The same source table provides all three annual amounts, making their definitions easier to compare. The values are current-dollar averages, so they have not been adjusted to remove price changes.
The published percentage change is preferable to presenting an overprecise calculation from rounded amounts. The table also identifies which changes meet its statistical-significance standard, a distinction that matters when comparing annual estimates.
[1]Sources & notes
BLS Consumer Expenditures—2024, Table A. Vehicle-insurance expenditures are means across consumer units and are not premiums per policy or vehicle. BLS marks the 2023–2024 change as statistically significant.
Source review: 2026-09-15. Article publication and underlying data dates are separate. How we use statistics · Suggest a correction