Auto Insurance

Auto Insurance

COSTS AND EXPENDITURES

The average auto insurance expenditure rose from $798 in 2011 to $815 in 2012, according to a December 2014 report from the National Association of Insurance Commissioners. In 2012 (the latest data available), the average expenditure was highest in New Jersey ($1,219.93), followed by the District of Columbia ($1,154.91), and New York ($1,152.45). The 2012 average expenditure was up 2.1 percent from $798 in 2011.

To calculate average expenditures the National Association of Insurance Commissioners (NAIC) assumes that all insured vehicles carry liability coverage but not necessarily collision or comprehensive coverage. The average expenditure measures what consumers actually spend for insurance on each vehicle. It does not equal the sum of liability, collision and comprehensive expenditures because not all policyholders purchase all three coverages.
/insurance-fact-book/property-casualty-insurance-by-line/auto/costs-expenditures.html

AAA’s 2015 Your Driving Costs study found that the average cost to own and operate an average sedan was $8,698 in 2014, down almost 2 percent from  $8,876 in 2013. The decline reflects reduced gasoline and finance costs offsetting increases in other areas. Average insurance costs for sedans rose 9 percent, or $92, to $1,115 in 2014 from $1,023 in 2013. AAA insurance cost estimates are based on a full coverage policy for a 47-year old male with a clean driving record for a policy with $100,000/$300,000 bodily injury liability coverage 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 data below.

 

AVERAGE EXPENDITURES FOR AUTO INSURANCE, UNITED STATES, 2003-2012

 

Year Average expenditure Percent change
2003 $830 5.6%
2004 843 1.6
2005 832 -1.3
2006 818 -1.7
2007 799 -2.3
2008 791 -1.0
2009 787 -0.5
2010 792 0.6
2011 798 0.8
2012 815 2.1

Source: © 2014 National Association of Insurance Commissioners (NAIC).

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  • 77 percent of insured drivers purchase comprehensive coverage in addition to liability insurance, and 72 percent buy collision coverage, based on an I.I.I. analysis of 2012 NAIC data.

 

AUTO INSURANCE EXPENDITURES, BY STATE

The tables on the following pages show estimated average expenditures for private passenger automobile insurance by state for 2008 to 2012, providing approximate measures of the relative cost of automobile insurance to consumers in each state. To calculate average expenditures the National Association of Insurance Commissioners (NAIC) assumes that all insured vehicles carry liability coverage but not necessarily collision or comprehensive coverage. The average expenditure measures what consumers actually spend for insurance on each vehicle. It does not equal the sum of liability, collision and comprehensive expenditures because not all policyholders purchase all three coverages.

Expenditures are affected by the coverages purchased as well as other factors. In states where the economy is healthy, people are more likely to purchase new cars. Since new car owners are more likely to purchase physical damage coverages, these states will have a higher average expenditure. The NAIC notes that urban population, traffic density and per capita income have a significant impact on premiums. The latest report shows that high premium states tend also to be highly urban, with higher wage and price levels and greater traffic density. Tort liability and other auto laws, auto repair costs, liability coverage requirements, theft rates and other factors can also affect auto insurance prices.

 

TOP TEN MOST EXPENSIVE AND LEAST EXPENSIVE STATES FOR AUTOMOBILE INSURANCE, 2012 (1)

Rank Most expensive states Average expenditure Rank Least expensive states Average expenditure
1 New Jersey $1,219.93 1 Idaho $534.56
2 D.C. 1,154.91 2 South Dakota 556.51
3 New York 1,152.45 3 Iowa 561.26
4 Florida 1,127.93 4 North Dakota 576.08
5 Louisiana 1,112.53 5 Maine 582.43
6 Delaware 1,065.37 6 Wisconsin 598.84
7 Michigan 1,048.87 7 North Carolina 611.48
8 Rhode Island 1,034.50 8 Nebraska 616.78
9 Connecticut 986.73 9 Wyoming 618.81
10 Massachusetts 976.65 10 Kansas 632.07

(1) Based on average automobile insurance expenditures.

Source: © 2014 National Association of Insurance Commissioners (NAIC).

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TOP TEN MOST EXPENSIVE AND LEAST EXPENSIVE CITIES FOR AUTOMOBILE INSURANCE, 2014 (1)

 

Rank Most expensive cities Average car
insurance price
Rank Least expensive cities Average car
insurance price
1 Detroit, MI $10,723 1 Winston-Salem, NC $969
2 New Orleans, LA 4,310 2 Greensboro, NC   1,090
3 Grand Rapids, MI 4,042 3 Raleigh, NC 1,098
4 Newark, NJ 3,525 4 Durham, NC 1,101
5 Baton Rouge, LA 3,364 5 Charlotte, NC   1,123
6 Hialeah, FL 3,272 6 Boise, ID 1,222
7 Jersey City, NJ 3,267 7 Rochester, NY 1,249
8 Louisville, KY 3,256 8 Fayetteville, NC 1,295
9 Miami, FL 3,169 9 Spokane, WA 1,308
10 Philadelphia, PA 2,931 10 Montgomery, AL 1,376

(1) Based on a 26-year-old male without any history of accidents, insuring a 2012 Toyota Camry. Assumes $100,000/$300,000/$50,000 liability limits with a $500 deductible. To calculate city averages, NerdWallet used only zip codes within city limits and not in the city's metro area.

Source: NerdWallet.

  • Detroit is the costliest city for auto insurance, and was more than double the second costliest city, New Orleans.
  • Six of the least expensive cities for auto insurance were in North Carolina, led by Winston-Salem.

 

AVERAGE EXPENDITURES FOR AUTO INSURANCE BY STATE, 2008-2012

  2012 2011   Average expenditure
State Liability Collision Compre-
hensive
Average
expend-
iture
Rank (1) Average
expend
iture
Rank (1) Average
expenditure
percent
change
2011-2012
2010 2009 2008
Alabama $359.88 $287.59 $140.60 $659.06 37 $653.37 37 0.9% $651.22 $652.07 $662.76
Alaska 544.66 365.92 142.96 873.15 13 873.11 13 0.0 890.35 896.74 904.12
Arizona 473.30 245.64 180.97 781.71 18 776.56 18 0.7 804.97 842.21 863.81
Arkansas 371.02 295.68 175.90 679.46 35 665.49 35 2.1 662.44 657.13 651.26
California (2) 442.17 348.63 98.13 749.79 22 740.11 24 1.3 746.77 756.63 780.20
Colorado 449.65 252.40 147.69 737.95 25 723.61 27 2.0 730.42 741 .28 728.67
Connecticut 626.47 334.23 121.35 986.73 9 969.41 9 1.8 965.22 952.36 950.16
Delaware 759.04 286.06 108.49 1,065.37 6 1,048.03 6 1.7 1,030.98 1,021 .42 1,007.32
D.C. 624.34 437.18 227.97 1,154.91 2 1,139.43 2 1.4 1,133.87 1,127.72 1,126.56
Florida 855.87 234.51 105.65 1,127.93 4 1,090.58 5 3.4 1,037.36 1,006.20 1,054.89
Georgia 454.76 316.13 151.16 768.34 20 754.06 19 1.9 748.89 754.61 760.58
Hawaii 453.47 289.26 101.41 735.19 27 748.46 20 -1.8 765.83 786.33 816.21
Idaho 326.00 205.64 107.55 534.56 51 535.11 51 -0.1 548.03 554.80 562.76
Illinois 422.27 273.16 110.56 731.22 28 727.33 25 0.5 733.45 727.82 713.97
Indiana 376.18 233.60 113.30 637.37 40 621.38 41 2.6 624.27 620.31 611 .21 
Iowa 290.46 201.45 164.52 561.26 49 551.72 48 1.7 546.59 530.96 518.48
Kansas 329.67 244.10 211.94 632.07 42 625.91 40 1.0 625.17 622.16 622.14
Kentucky 516.40 247.95 124.11 759.70 21 744.53 22 2.0 722.70 698.85 698.93
Louisiana 698.21 372.20 204.69 1,112.53 5 1,110.63 3 0.2 1,121.44 1,100.09 1,104.62
Maine 331.91 241.06 90.66 582.43 47 577.38 47 0.9 582.29 597.87 600.46
Maryland 594.28 319.30 143.13 966.29 11 956.14 10 1.1 947.74 928.92 922.01
Massachusetts 578.75 343.43 125.88 976.65 10 942.12 11 3.7 890.83 860.49 903.27
Michigan 660.93 368.51 142.50 1,048.87 7 983.82 8 6.6 954.75 913.28 905.82
Minnesota 428.63 205.12 166.49 718.61 29 696.00 31 3.2 693.08 692.08 697.09
Mississippi 424.58 291.79 186.58 748.44 23 740.14 23 1.1 745.17 737.77 749.38
Missouri 390.04 253.12 155.98 683.82 34 674.60 34 1.4 678.03 668.29 656.33
Montana 383.76 247.30 190.62 658.42 38 654.56 36 0.6 657.42 655.61 666.69
Nebraska 340.33 218.30 192.56 616.78 44 602.39 44 2.4 592.56 575.26 561.46
Nevada 619.84 289.97 114.48 906.00 12 904.91 12 0.1 930.43 944.16 970.31
New Hampshire 390.55 265.72 96.21 716.84 30 705.88 30 1.6 706.24 717.56 727.15
New Jersey 860.54 356.36 117.64 1,219.93 1 1,184.99 1 2.9 1,157.30 1,100.66 1,081.28
New Mexico 441.11 262.06 163.02 695.09 32 691.74 32 0.5 703.64 717.96 730.27
New York 779.96 345.99 147.33 1,152.45 3 1,109.94 4 3.8 1,078.88 1,057.82 1,044.04
North Carolina 356.81 248.84 115.08 611.48 45 600.04 46 1.9 599.90 609.80 595.48
North Dakota 272.71 216.62 225.42 576.08 48 549.73 49 4.8 528.81 509.72 503.18
Ohio 326.96 243.00 107.30 634.89 41 619.73 43 2.4 619.45 616.33 616.51
Oklahoma 426.30 289.80 185.01 737.02 26 716.21 28 2.9 703.03 677.71 662.64
Oregon 527.64 203.52 86.92 741.51 24 723.72 26 2.5 724.47 722.85 726.64
Pennsylvania 495.05 296.19 124.06 827.61 16 812.77 16 1.8 812.15 811.15 816.65
Rhode Island 702.48 357.12 116.41 1,034.50 8 1,004.13 7 3.0 984.95 969.02 985.89
South Carolina 485.27 239.32 156.18 772.09 19 748.26 21 3.2 737.77 737.74 749.30
South Dakota 281.04 195.84 214.07 556.51 50 538.49 50 3.3 525.16 512.47 512.12
Tennessee 387.40 280.82 126.31 673.90 36 649.98 38 3.7 641.17 634.24 639.00
Texas 485.05 345.29 189.72 858.54 14 842.58 14 1.9 848.11 860.42 853.55
Utah 454.35 247.80 103.18 713.20 31 712.74 29 0.1 716.97 717.28 708.70
Vermont 339.97 269.36 111.99 642.39 39 633.51 39 1.4 630.11 645.79 653.47
Virginia 401.50 254.02 125.87 691.80 33 679.60 33 1.8 673.72 667.51 662.72
Washington 547.11 241.32 102.61 809.56 17 806.02 17 0.4 815.29 826.59 839.23
West Virginia 503.05 313.43 189.20 846.74 15 834.04 15 1.5 830.10 815.00 807.49
Wisconsin 346.74 200.37 119.69 598.84 46 600.23 45 -0.2 613.41 590.54 581.42
Wyoming 298.94 285.60 234.27 618.81 43 619.88 42 -0.2 621 .15  624.10 632.92
United States $503.88 $289.66 $134.04 $814.99   $797.61   2.2% $791.93 $786.71 $790.66

(1) Ranked highest to lowest by average expenditure.
(2) Preliminary.

Note: Average expenditure=Total written premium/liability car years. A car year is equal to 365 days of insured coverage for a single vehicle. The NAIC does not rank state average expenditures and does not endorse any conclusion drawn from these data.

Source: © 2014 National Association of Insurance Commissioners (NAIC).

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PREMIUMS

 

PRIVATE PASSENGER AUTOMOBILE INSURANCE, 2004-2013

($000)

  Liability Collision/comprehensive
Year Net premiums
written (1)
Annual
percent
change
Combined
ratio (2)
Annual
point
change (3)
Net premiums
written (1)
Annual
percent
change
Combined
ratio (2)
Annual
point
change (3)
2004 $92,936,566 4.1% 98.9 -4.2 pts. $64,697,069 4.3% 87.0 -5.1 pts.
2005 94,384,329 1.6 98.4 -0.4 64,882,303 0.3 90.7 3.7
2006 95,325,685 1.0 98.6 0.2 65,125,977 0.4 91.4 0.7
2007 94,974,640 -0.4 101.8 3.1 64,700,792 -0.7 93.4 2.0
2008 94,545,647 -0.5 103.5 1.7 64,054,581 -1.0 95.8 2.4
2009 94,990,682 0.5 106.2 2.7 62,630,693 -2.2 93.0 -2.8
2010 97,672,826 2.8 105.9 -0.3 62,595,851 -0.1 93.4 0.4
2011 100,369,441 2.8 103.8 -2.1 62,948,280 0.6 99.6 6.3
2012 103,429,677 3.0 103.2 -0.6 64,619,667 2.7 100.2 0.6
2013 107,446,382 3.9 103.6 0.4 67,451,645 4.4 98.7 -1.5

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded numbers.

Source: SNL Financial LC.

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TOP TEN WRITERS OF PRIVATE PASSENGER AUTO INSURANCE BY DIRECT PREMIUMS WRITTEN, 2013

($000)

Rank Group/company Direct premiums written (1) Market share (2)
1 State Farm Mutual Automobile Insurance $33,610,201 18.5%
2 Berkshire Hathaway Inc. 18,622,591 10.2
3 Allstate Corp. 18,067,452 9.9
4 Progressive Corp. 15,373,142 8.5
5 Farmers Insurance Group of Companies (3) 9,880,905 5.4
6 USAA Insurance Group 9,167,242 5.0
7 Liberty Mutual 9,036,455 5.0
8 Nationwide Mutual Group 7,279,835 4.0
9 American Family Mutual 3,441,682 1.9
10 Travelers Companies Inc. 3,178,692 1.8

(1) Before reinsurance transactions, includes state funds.
(2) Based on U.S. total, includes territories.
(3) Data for Farmers Insurance Group of Companies and Zurich Financial Group (which owns Farmers' management company) are reported separately by SNL Financial.

Source: SNL Financial LC.

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AUTO CLAIMS

Liability insurance pays for the policyholder’s legal responsibility to others for bodily injury or property damage. Collision and comprehensive insurance cover property damage and theft to the policyholder’s car.

 

PRIVATE PASSENGER AUTO INSURANCE LOSSES, 2004-2013 (1)

 

  Liability
  Bodily injury (2) Property damage (3)
Year Claim frequency (4) Claim severity (5), (6) Claim frequency (4) Claim severity (5), (6)
2004 1.11 $11,640 3.75 $2,596
2005 1.04 12,282 3.55 2,717
2006 0.98 12,907 3.40 2,796
2007 0.90 13,361 3.46 2,847
2008 0.91 14,067 3.42 2,903
2009 0.89 13,891 3.49 2,869
2010 0.91 14,406 3.53 2,881
2011 0.92 14,848 3.56 2,958
2012 0.95 14,690 3.50 3,073
2013 0.94 15,443 3.55 3,231
 
  Physical damage (7)
  Collision Comprehensive (8)
Year Claim frequency (4) Claim severity (5) Claim frequency (4) Claim severity (5)
2004 4.85 $3,080 2.46 $1,417
2005 5.04 3,067 2.38 1,457
2006 4.87 3,194 2.40 1,528
2007 5.20 3,109 2.48 1,524
2008 5.35 3,005 2.57 1,551
2009 5.48 2,869 2.75 1,389
2010 5.69 2,778 2.62 1,476
2011 5.75 2,861 2.79 1,490
2012 5.57 2,950 2.62 1,585
2013 5.71 3,144 2.57 1,621

(1) For all limits combined. Data are for paid claims.
(2) Excludes Massachusetts and most states with no-fault automobile insurance laws.
(3) Excludes Massachusetts, Michigan and New Jersey.
(4) Claim frequency is claims per 100 car years. A car year is equal to 365 days of insured coverage for one vehicle.
(5) Claim severity is the size of the loss.
(6) Includes loss adjustment expenses.
(7) Excludes Massachusetts, Michigan and Puerto Rico. Based on coverage with a $500 deductible.
(8) Excludes wind and water losses.

Source: ISO®, a Verisk Analytics® company.

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  • In 2013 less than 1 percent of people with liability insurance had a bodily injury liability claim, while 3.6 percent of those with liability insurance had a property damage liability claim, according to ISO data.
  • In 2013, 5.7 percent of collision insurance policyholders had a claim, while 2.6 percent of people with comprehensive coverage had a claim.
  • In 2013 the average auto liability claim for property damage was $3,231; the average auto liability claim for bodily injury was $15,443.
  • In 2013 the average collision claim was $3,144; the average comprehensive claim was $1,621.

 

INCURRED LOSSES FOR AUTO INSURANCE, 2009-2013 (1)

($000)

  2009 2010 2011 2012 2013
Private passenger auto          
     Liability $63,448,211 $64,110,267 $64,310,776 $65,135,976 $67,879,783
     Physical damage 36,497,330 36,454,102 40,589,159 41,275,620 41,754,269
Commercial auto          
     Liability 9,345,288 8,798,119 9,363,647 10,515,806 11,302,794
     Physical damage 3,005,162 2,911,013 3,164,880 3,250,740 3,255,581
Total $112,295,991 $112,273,501 $117,428,462 $120,178,142 $124,192,427

(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, after reinsurance transactions.

Source: SNL Financial LC.

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THE SHARED/RESIDUAL MARKET AND NONSTANDARD MARKETS

All states and the District of Columbia use special systems to guarantee that auto insurance is available to those who cannot obtain it in the private market. Each type of system is commonly known as an assigned risk plan, although that term technically applies to only one type of plan. The assigned risk and other plans are known in the insurance industry as the shared, or residual, market. Policyholders in assigned risk plans are assigned to various insurance companies doing business in the state. In the voluntary, or regular, market, auto insurers are free to select policyholders.

The percentage of vehicles insured in the shared market is dropping, in part because of the evolution of the nonstandard sector of the voluntary market. The nonstandard market is a niche market for drivers who have a worse than average driving record or drive specialized cars such as high-powered sports cars and custom-built cars. It is made up of both small specialty companies, whose only business is the nonstandard market, and well-known auto insurance companies with nonstandard divisions.

Until the mid-1960s, most drivers who did not meet an insurance company’s “standard” or “preferred risk” underwriting criteria could only find coverage in the shared market, where prices are generally much higher and insurers pool or share the profits and losses. With advancements in computer technology that made it easier to set appropriate prices for smaller and smaller risk categories, some insurers began to specialize in insuring drivers with marginally bad driving records. By the late 1990s the nonstandard market accounted for about one-fifth of the total private passenger auto insurance market. This has held steady. A 2008 Conning study found that in 2006 auto insurers specializing in nonstandard private passenger auto insurance had direct premiums written of $36.9 billion, representing 22 percent of the total private passenger auto insurance market.

 

PRIVATE PASSENGER CARS INSURED IN THE SHARED AND VOLUNTARY MARKETS, 2012

State Voluntary
market
Shared
market
Total Shared market
as a percent
of total
Alabama 3,512,651 0 3,512,651 (1)
Alaska 488,440 78 488,518 0.016%
Arizona 4,260,695 0 4,260,695 (1)
Arkansas 2,131,327 2 2,131,329 (1)
California 25,391,859 587 25,392,446 0.002
Colorado 3,877,688 0 3,877,688 (1)
Connecticut 2,470,553 179 2,470,732 0.007
Delaware 631,210 1 631,211 (1)
D.C. 238,419 147 238,566 0.062
Florida 11,283,532 2,033 11,285,565 0.018
Georgia 7,010,414 0 7,010,414 (1)
Hawaii 834,816 3,950 838,766 0.471
Idaho 1,106,249 3 1,106,252 (1)
Illinois 7,980,752 572 7,981,324 0.007
Indiana 4,481,849 3 4,481,852 (1)
Iowa 2,437,335 13 2,437,348 0.001
Kansas 2,295,485 1,676 2,297,161 0.073
Kentucky 3,109,752 76 3,109,828 0.002
Louisiana 2,905,256 0 2,905,256 (1)
Maine 1,022,437 9 1,022,446 0.001
Maryland 3,920,154 43,289 3,963,443 1.092
Massachusetts 4,179,418 103,112 4,282,530 2.408
Michigan 6,202,697 1,563 6,204,260 0.025
Minnesota 3,891,523 23 3,891,546 0.001
Mississippi 1,873,730 16 1,873,746 0.001
Missouri 4,289,100 19 4,289,119 (1)
Montana 827,851 34 827,885 0.004
Nebraska 1,518,948 1 1,518,949 (1)
Nevada 1,812,804 2 1,812,806 (1)
New Hampshire 905,471 269 905,740 0.030
New Jersey 5,332,599 46,210 5,378,809 0.859
New Mexico 1,544,524 2 1,544,526 (1)
New York 9,299,087 61,638 9,360,725 0.658
North Carolina 5,618,255 1,588,143 7,206,398 22.038
North Dakota 642,582 1 642,583 (1)
Ohio 8,174,369 0 8,174,369 (1)
Oklahoma 2,732,173 14 2,732,187 0.001
Oregon 2,743,083 1 2,743,084 (1)
Pennsylvania 8,643,621 7,252 8,650,873 0.084
Rhode Island 665,769 9,953 675,722 1.473
South Carolina 3,474,069 0 3,474,069 (1)
South Dakota 700,988 0 700,988 (1)
Tennessee 4,368,667 14 4,368,681 (1)
Texas (2) NA NA NA NA
Utah 1,879,547 1 1,879,548 (1)
Vermont 483,961 62 484,023 0.013
Virginia 6,232,027 601 6,232,628 0.010
Washington 4,698,148 0 4,698,148 (1)
West Virginia 1,329,442 16 1,329,458 0.001
Wisconsin 4,041,286 0 4,041,286 (1)
Wyoming 535,568 0 535,568 (1)
United States 190,032,180 1,871,565 191,903,745 0.975%

(1) Less than 0.001 percent.
(2) Texas information is no longer available.

NA=Data not available.

Source: AIPSO.

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COLLISION LOSSES

The chart below shows the claim frequency and average loss payment per claim and average loss payment per insured vehicle year under collision coverage for recent model vehicles. The claim frequency is expressed as a rate per 100 insured vehicle years. A vehicle year is equal to 365 days of insurance coverage for a single vehicle.

 

PASSENGER VEHICLE COLLISION COVERAGE INSURANCE LOSSES, 2011-2013 MODEL YEARS

  Claim frequency (1) Claim severity
Passenger cars and minivans 7.5 $4,486
Pickups 6.1 4,349
SUVs 6.1 4,369
All passenger vehicles 6.9 $4,439

(1) Per 100 insured vehicle years.

Source: Highway Loss Data Institute.

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CONSUMER PRICES

The Bureau of Labor Statistics' consumer price index (CPI) tracks changes in the prices paid by consumers for a representative basket of goods and services. The cost of living (all items) rose 1.6 percent in 2014. The cost of hospital services and auto insurance rose more (5.0 percent and 4.2 percent, respectively). The cost of legal services rose 2.1 percent and doctors’ services rose 1.4 percent.

 

CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 2005-2014

(Base: 1982-84=100)

  Cost of living
(all items)
Motor vehicle
insurance
Medical
care items
Physicians'
services
Hospital
services (1)
Year Index Percent
change
Index Percent
change
Index Percent
change
Index Percent
change
Index Percent
change
2005 195.3 3.4% 329.9 2.1% 323.2 4.2% 287.5 3.3% 161.6 5.3%
2006 201.6 3.2 331.8 0.6 336.2 4.0 291.9 1.5 172.1 6.5
2007 207.3 2.8 333.1 0.4 351.1 4.4 303.2 3.9 183.6 6.7
2008 215.3 3.8 341.5 2.5 364.1 3.7 311.3 2.7 197.2 7.4
2009 214.5 -0.4 357.0 4.5 375.6 3.2 320.8 3.0 210.7 6.9
2010 218.1 1.6 375.2 5.1 388.4 3.4 331.3 3.3 227.2 7.8
2011 224.9 3.2 388.7 3.6 400.3 3.0 340.3 2.7 241.2 6.2
2012 229.6 2.1 402.5 3.6 414.9 3.7 347.3 2.1 253.6 5.1
2013 233.0 1.5 419.4 4.2 425.1 2.5 354.2 2.0 265.4 4.7
2014 236.7 1.6 437.2 4.2 435.3 2.4 359.1 1.4 278.8 5.0
Percent change
2005-2014
  21.2%   32.5%   34.7%   24.9%   72.5%

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CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 2005-2014 (Cont'd)

(Base: 1982-84=100)

  Motor vehicle body work New vehicles New cars New trucks (2)
Year Index Percent change Index Percent change Index Percent change Index Percent change
2005 215.0 3.3% 137.9 0.6% 135.2 1.0% 145.3 0.2%
2006 224.8 4.6 137.6 -0.2 136.4 0.9 142.9 -1.7
2007 232.2 3.3 136.3 -1.0 135.9 -0.4 140.7 -1.5
2008 239.7 3.2 134.2 -1.5 135.4 -0.3 137.1 -2.6
2009 248.5 3.7 135.6 1.1 136.7 0.9 138.8 1.3
2010 254.4 2.4 138.0 1.8 138.1 1.0 142.7 2.8
2011 259.9 2.2 141.9 2.8 142.2 3.0 146.5 2.7
2012 264.9 1.9 144.2 1.7 144.2 1.4 149.4 1.9
2013 271.0 2.3 145.8 1.1 144.9 0.5 151.8 1.6
2014 278.0 2.6 146.3 0.3 144.5 -0.3 153.6 1.1
Percent change
2005-2014
  29.3%   6.1%   6.9%   5.7%

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CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 2005-2014

(Base: 1982-84=100)

  Used cars
and trucks
Tenants and
household
insurance (3), (4)
Repair of
household
items (3), (5)
Legal services Existing single-
family homes
Year Index Percent
change
Index Percent
change
Index Percent
change
Index Percent
change
Median
price ($000)
Percent
change
2005 139.4 4.6% 117.6 1.2% 147.4 5.7% 241.8 4.1% $220 12.4%
2006 140.0 0.4 116.5 -0.9 154.7 5.0 250.0 3.4 222 1.0
2007 135.7 -3.0 117.0 0.4 161.2 4.2 260.3 4.1 219 -1.3
2008 134.0 -1.3 118.8 1.6 170.0 5.5 270.7 4.0 198 -9.5
2009 127.0 -5.2 121.5 2.2 176.0 3.5 278.1 2.7 173 -12.9
2010 143.1 12.7 125.7 3.5 181.7 3.2 288.1 3.6 173 0.3
2011 149.0 4.1 127.4 1.4 NA NA 297.4 3.2 166 -4.0
2012 150.3 0.9 131.3 3.1 198.7 NA 303.5 2.0 177 6.6
2013 149.9 -0.3 135.4 3.1 206.7 4.0 311.8 2.8 197 11.4
2014 149.1 -0.5 141.9 4.8 212.4 2.8 318.5 2.1 209 5.8
Percent change
2005-2014
  7.0%   20.6%   44.1%   31.7%   -5.0%

(1) December 1996=100.
(2) December 1983=100.
(3) December 1997=100.
(4) Only includes insurance covering rental properties.
(5) Includes appliances, reupholstery and inside home maintenance.

NA=Data not available.

Note: Percent changes after 2007 for consumer price indices and all years for the median price of existing single-family homes calculated from unrounded data.

Source: U.S. Department of Labor, Bureau of Labor Statistics; National Association of Realtors.

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