Auto Insurance

The average cost of automobile insurance declined by 1.7 percent in 2006, according to a November 2008 report from the National Association of Insurance Commissioners (NAIC). The District of Columbia had the highest average expenditure ($1,164), followed by New Jersey ($1,152), Louisiana ($1,094), New York ($1,083) and Florida ($1,069).

Average Expenditures For Auto Insurance, United States, 1997-2006

AVERAGE EXPENDITURES FOR AUTO INSURANCE, UNITED STATES, 1997-2006

 

Year Average expenditure Percent change Year Average expenditure Percent change
1997 $705 2.0% 2002 $786 8.3%
1998 703 -0.3 2003 830 5.6
1999 685 -2.6 2004 842 1.4
2000 690 0.7 2005 831 -1.3
2001 726 5.2 2006 817 -1.7
Source: © 2007 National Association of Insurance Commissioners.

Top Ten Most Expensive And Least Expensive States For Automobile Insurance, 2006 (1)

TOP TEN MOST EXPENSIVE AND LEAST EXPENSIVE STATES FOR AUTOMOBILE INSURANCE, 2006 (1)

 

Rank Most expensive states Average expenditure Rank Least expensive states Average expenditure
1 D.C. $1,164 1 North Dakota $530
2 New Jersey 1,152 2 Iowa 536
3 Louisiana 1,094 3 South Dakota 554
4 New York 1,083 4 Idaho 577
5 Florida 1,069 5 Kansas 579
6 Massachusetts 1,042 6 Nebraska 584
7 Rhode Island 1,038 7 Wisconsin 590
8 Delaware 1,024 8 North Carolina 596
9 Nevada 1,006 9 Indiana 631
10 Connecticut 981 10 Maine 634
(1) Based on average automobile insurance expenditures.

Source: © 2008 National Association of Insurance Commissioners.

 

AUTO INSURANCE EXPENDITURES, BY STATE

The table on the following pages shows estimated average expenditures for private passenger automobile insurance by state for 2002 to 2006, 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 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, labor costs, liability coverage requirements, theft rates and other factors can also affect auto insurance prices.\

Average Expenditures For Auto Insurance By State, 2005-2006

AVERAGE EXPENDITURES FOR AUTO INSURANCE BY STATE, 2005-2006

 

  2006       2005    
State
Liability
Collision 
Compre-
hensive
Average expenditure
Rank (1)
Average expenditure
Rank (1) Average expenditure   percent change  2005-2006
Alabama $367 $318 $135 $684 35 $679 37 0.7%
Alaska 596 381 158 955 11 968 11 -1.3
Arizona 507 310 231 913 14 929 14 -1.7
Arkansas 387 291 161 684 34 694 34 -1.4
California (2) 483 376 118 843 16 842 19 0.2
Colorado 453 281 188 785 23 829 21 -5.3
Connecticut 621 335 125 981 10 993 9 -1.2
Delaware 706 298 111 1,024 8 1,028 8 -0.3
D.C. 610 445 261 1,164 1 1,187 1 -2.0
Florida 752 287 113 1,069 5 1,064 6 0.5
Georgia 424 372 169 788 22 785 24 0.4
Hawaii 542 309 117 853 15 846 18 0.8
Idaho 339 232 125 577 48 585 48 -1.4
Illinois 410 296 118 740 27 743 28 -0.4
Indiana 361 253 111 631 43 658 41 -4.0
Iowa 282 199 163 536 50 555 50 -3.6
Kansas 300 235 198 579 47 589 47 -1.7
Kentucky 484 266 132 739 28 751 26 -1.5
Louisiana 660 386 209 1,094 3 1,078 5 1.5
Maine 362 270 106 634 42 644 42 -1.6
Maryland 564 326 146 949 12 948 12 0.1
Massachusetts 670 327 127 1,042 6 1,113 4 -6.4
Michigan 494 415 158 925 13 931 13 -0.6
Minnesota 446 224 173 753 25 792 23 -4.9
Mississippi 430 294 165 746 26 746 27 0.0
Missouri 379 262 146 673 36 685 36 -1.8
Montana 399 241 197 661 37 686 35 -3.7
Nebraska 327 213 189 584 46 619 44 -5.7
Nevada 651 344 142 1,006 9 985 10 2.1
New Hampshire 435 300 109 793 21 792 22 0.2
New Jersey 747 378 160 1,152 2 1,185 2 -2.8
New Mexico 457 292 165 737 29 731 30 0.8
New York 730 331 153 1,083 4 1,125 3 -3.7
North Carolina 342 251 121 596 44 602 46 -1.0
North Dakota 255 196 238 530 51 555 51 -4.4
Ohio 382 252 104 654 39 670 39 -2.3
Oklahoma 384 271 169 659 38 678 38 -2.9
Oregon 483 226 103 726 30 738 29 -1.7
Pennsylvania 499 309 125 832 18 850 17 -2.1
Rhode Island 695 377 125 1,038 7 1,062 7 -2.2
South Carolina 471 255 149 756 24 754 25 0.3
South Dakota 296 200 202 554 49 566 49 -2.2
Tennessee 363 293 123 654 40 659 40 -0.8
Texas 454 349 175 820 20 857 16 -4.3
Utah 424 266 120 702 31 707 31 -0.7
Vermont 361 298 129 687 32 700 32 -1.8
Virginia 395 264 118 685 33 700 33 -2.1
Washington 543 260 127 839 17 842 20 -0.3
West Virginia 510 297 180 827 19 859 15 -3.7
Wisconsin 331 204 123 590 45 615 45 -4.1
Wyoming 334 261 216 639 41 640 43 -0.2
United States $489 $308 $140 $817   $831   -1.7%
(1) Ranked 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: © 2008 National Association of Insurance Commissioners.

Average Expenditures For Auto Insurance By State, 2002-2004

AVERAGE EXPENDITURES FOR AUTO INSURANCE BY STATE, 2002-2004

 

  Average expenditure (1)   
State 2004
2003
2002
Alabama $677 $657 $627
Alaska 974 938 884
Arizona 931 921 887
Arkansas 708 698 672
California (2) 846 837 779
Colorado 850 923 921
Connecticut 991 988 970
Delaware 1,022 977 900
D.C. 1,185 1,135 1,044
Florida 1,062 1,018 934
Georgia 779 759 739
Hawaii 817 776 739
Idaho 590 586 563
Illinois 760 762 729
Indiana 671 671 648
Iowa 580 581 548
Kansas 603 611 587
Kentucky 758 739 688
Louisiana 1,062 1,015 928
Maine 650 633 587
Maryland 947 893 840
Massachusetts 1,113 1,052 984
Michigan 980 950 887
Minnesota 829 837 801
Mississippi 749 710 681
Missouri 702 702 669
Montana 683 675 628
Nebraska 637 624 590
Nevada 939 914 896
New Hampshire 798 779 733
New Jersey 1,221 1,193 1,125
New Mexico 728 732 706
New York 1,172 1,168 1,100
North Carolina 597 605 588
North Dakota 562 537 505
Ohio 680 672 642
Oklahoma 690 689 654
Oregon 753 736 682
Pennsylvania 843 813 777
Rhode Island 1,034 997 939
South Carolina 763 745 703
South Dakota 587 564 542
Tennessee 666 650 632
Texas 880 918 864
Utah 722 733 703
Vermont 693 683 650
Virginia 702 658 626
Washington 839 825 791
West Virginia 875 844 778
Wisconsin 636 621 611
Wyoming 629 618 585
United States $842 $830 $786
(1) Average expenditure=Total written premium/liability car years. A car year is equal to 365 days of insured coverage for a single vehicle.
(2) Preliminary.

Source: © 2008 National Association of Insurance Commissioners.

Top Five Most Expensive And Least Expensive Cities For Automobile Insurance, 2007 (1)

TOP FIVE MOST EXPENSIVE AND LEAST EXPENSIVE CITIES FOR AUTOMOBILE INSURANCE, 2007 (1)

 

Rank Most expensive cities Average annual auto premiums Rank Least expensive cities Average annual auto premiums
1 Detroit, MI $5,072 1 Eau Claire, WI $869
2 Philadelphia, PA 3,779 2 Norfolk, VA 954
3 Newark, NJ 3,381 3 Raleigh, NC 966
4 Los Angeles, CA 3,027 4 Bismarck, ND 989
5 Hempstead, NY 2,764 5 Burlington, VT 1,001

(1) As of June 2007. Assumes $100,000/$300,000/$50,000 liability limits, collision and comprehensive with $500 deductibles, and $100,000/$300,000 uninsured coverage. 

Source: Runzheimer International.

Top Ten Writers Of Private Passenger Auto Insurance By Direct Premiums Written, 2007

TOP TEN WRITERS OF PRIVATE PASSENGER AUTO INSURANCE BY DIRECT PREMIUMS WRITTEN, 2007 ($000)

Rank Group Direct premiums written (1) Market share
1 State Farm Group $28,365,631 17.5%
2 Allstate Insurance Group 18,328,620 11.3
3 Progressive Group 11,747,357 7.2
4 Berkshire Hathaway Group 11,731,068 7.2
5 Zurich Insurance Group 8,910,730 5.5
6 Nationwide Corp. Group 7,630,446 4.7
7 United Services Automobile Association Group 5,901,969 3.6
8 Liberty Mutual Insurance Group 4,621,806 2.8
9 American International Group (AIG) 3,998,802 2.5
10 American Family Insurance Group 3,559,758 2.2

(1) Before reinsurance transactions, excluding state funds.

Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.

Where The Premium Dollar Goes, Private Passenger Auto Insurance, 2007

WHERE THE PREMIUM DOLLAR GOES, PRIVATE PASSENGER AUTO INSURANCE, 2007

 

PREMIUMS EARNED:     $100
CLAIMS:      
Payments to injured persons:      
Medical $9    
Wage loss and other economic payments 2    
Pain and suffering and other noneconomic awards 5    
Lawyers’ fees 11    
Costs of settling claims 2    
    Subtotal   $29  
       
Payments for damage to cars (1):      
Property damage liability $17    
Collision claims 16    
Comprehensive claims 7    
Costs of settling claims 1    
     Subtotal   $41  
Total claims   $70  
       
EXPENSES:      
Commissions and other selling expenses $17    
General expenses (costs of company operations) 6    
State premium taxes, licenses and fees 2    
Dividends to policyholders 1    
Total expenses   $26  
       
Claims and expense total     $96
       
BOTTOM LINE:      
Investment gain (2)     $9
Pretax income ($100 - $96 + $9)     13
Tax     -5
Income after taxes     $8

(1) Includes theft and damage to other property, e.g., road signs.
(2) Includes interest, dividends, and realized capital gains.

Source: Insurance Information Institute estimate based on data from ISO; National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.; Insurance Research Council; A.M. Best Company, Inc.

graph - Where the Revenue Dollar Goes, 2007 (Premiums and Investments)
graph - Where the Revenue Dollar Goes, 2007 (Premiums and Investments)

Private Passenger Auto Insurance Losses, 1998-2007 (1)

PRIVATE PASSENGER AUTO INSURANCE LOSSES, 1998-2007 (1)

  Liability   
  Bodily injury (2)   Property damage  (3)
Year Claim frequency (4) Claim severity (5), (6) Claim frequency (4) Claim severity (5)
1998 1.26 $9,437 3.97 $2,240
1999 1.23 9,646 4.00 2,294
2000 1.20 9,807 3.98 2,393
2001 1.16 10,149 3.97 2,471
2002 1.15 10,400 3.92 2,552
2003 1.16 10,662 3.87 2,606
2004 1.14 11,079 3.78 2,624
2005 1.10 11,423 3.67 2,693
2006 1.03 12,020 3.49 2,811
2007 1.00 12,296 3.54 2,869
         
  Physical damage (7)
  Collision Comprehensive (8)
Year Claim frequency (4) Claim severity (5) Claim frequency (4) Claim severity (5)
1998 5.39 $2,273 2.93 $1,078
1999 5.73 2,352 2.80 1,116
2000 5.61 2,480 2.89 1,125
2001 5.53 2,525 3.11 1,152
2002 5.48 2,728 2.91 1,250
2003 5.17 2,919 2.75 1,331
2004 4.88 3,073 2.45 1,420
2005 5.05 3,062 2.37 1,456
2006 4.88 3,189 2.39 1,529
2007 5.14 3,131 2.46 1,519

(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 earned car years. A car year is equal to 365 days of insured coverage for a single vehicle.
(5) Claim severity is the size of the loss, measured by the average amount paid for each claim.
(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.

 

Incurred Losses For Auto Insurance, 2003-2007 (1)

INCURRED LOSSES FOR AUTO INSURANCE, 2003-2007 (1) ($000)

  2003 2004 2005 2006 2007
Private passenger liability $56,713,153 $56,317,831 $57,188,070 $56,042,440 $59,776,204
Private passenger physical damage 35,414,529 34,239,353 36,762,455 36,151,909 37,523,529
Commercial auto liability 10,666,889 10,809,661 10,373,070 10,746,525 10,091,916
Commercial auto physical damage 3,365,218 3,355,650 3,508,189 3,583,772 3,523,621
Total $106,159,789 $104,722,495 $107,831,784 $106,524,646 $110,915,270

(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, on a direct basis before reinsurance.

Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.

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, 2006

PRIVATE PASSENGER CARS INSURED IN THE SHARED AND VOLUNTARY MARKETS, 2006

State Voluntary Shared market Total Shared market as a percent of total
Alabama 3,223,439 56 3,223,495 0.002%
Alaska 412,301 582 412,883 0.141
Arizona 3,879,340 124 3,879,464 0.003
Arkansas 1,985,321 11 1,985,332 0.001
California 22,736,663 18,364 22,755,027 0.081
Colorado 3,437,556 4 3,437,560 (1)
Connecticut 2,398,906 1,777 2,400,683 0.074
Delaware 599,916 216 600,132 0.036
D.C. 218,832 1,082 219,914 0.492
Florida 11,290,231 46 11,290,277 (1)
Georgia 6,620,325 12 6,620,337 (1)
Hawaii 771,419 4,973 776,392 0.641
Idaho 1,262,950 90 1,263,040 0.007
Illinois 7,669,072 2,256 7,671,328 0.029
Indiana 4,322,560 22 4,322,582 0.001
Iowa 2,356,750 30 2,356,780 0.001
Kansas 2,268,293 1,999 2,270,292 0.088
Kentucky 2,924,688 583 2,925,271 0.020
Louisiana 2,728,135 -44 (2) (2,728,091 -0.002
Maine 1,030,250 197 1,030,447 0.019
Maryland 3,704,436 83,931 3,788,367 2.215
Massachusetts 3,955,971 198,644 4,154,615 4.781
Michigan 6,287,337 2,231 6,289,568 0.035
Minnesota 3,639,668 -8 (2) 3,639,660 (1)
Mississippi 1,810,863 201 1,811,064 0.011
Missouri 4,029,002 95 4,029,097 0.002
Montana 760,258 435 760,693 0.057
Nebraska 1,453,435 11 1,453,446 0.001
Nevada 1,704,944 36 1,704,980 0.002
New Hampshire 877,237 1,372 878,609 0.156
New Jersey 5,105,641 43,248 5,148,889 0.840
New Mexico 1,360,649 128 1,360,777 0.009
New York 9,030,086 153,241 9,183,327 1.669
North Carolina 5,229,367 1,583,475 6,812,842 23.243
North Dakota 574,037 0 574,037 (1)
Ohio 7,939,167 0 7,939,167 (1)
Oklahoma 2,621,074 179 2,621,253 0.007
Oregon 2,639,391 12 2,639,403 (1)
Pennsylvania 8,377,861 36,506 8,414,367 0.434
Rhode Island 648,892 26,429 675,321 3.914
South Carolina 3,132,147 2 3,132,149 (1)
South Dakota 650,544 -1 (2) 650,543 (1)
Tennessee 4,095,199 63 4,095,262 0.002
Texas NA NA NA NA
Utah 1,691,730 7 1,691,737 (1)
Vermont 468,847 1,169 470,016 0.249
Virginia 5,893,097 4,604 5,897,701 0.078
Washington 4,318,157 0 4,318,157 (1)
West Virginia 1,261,544 224 1,261,768 0.018
Wisconsin 3,599,727 -2 (2) 3,599,725 (1)
Wyoming 473,613 4 473,617 0.001
United States 179,470,868 2,168,616 181,639,484 1.194%
(1) Less than 0.001 percent.
(2) Negative numbers represent vehicles owned by drivers who were rejected or cancelled.

NA=Data not available.

Source: Automobile Insurance Plans Service Office.

COLLISION LOSSES

The chart below shows the claim frequency, average loss payment per claim and average loss payment per insured vehicle year under collision coverage for recent model vehicles. The last item factors in both claim frequency and the average loss payment per claim. This combination is a measurement of overall insurance losses.

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.

Collision Coverage Insurance Losses In Years Since Introduction, 2005-2007 Model Year Passenger Vehicles

COLLISION COVERAGE INSURANCE LOSSES IN YEARS SINCE INTRODUCTION, 2005-2007 MODEL YEAR PASSENGER VEHICLES

2005 2006 2007 2005-2007
Claim frequency per 100 insured vehicle years        
     Passenger cars and minivans 7.9 8.4 8.4 8.1
     Pickups 5.7 6.2 6.2 5.9
     Sport-utility vehicles 5.9 6.2 6.2 6.0
     All passenger vehicles 7.0 7.5 7.5 7.2
Average loss payment per claim        
     Passenger cars and minivans $3,984 $4,135 $4,172 $4,049
     Pickups 4,469 4,522 4,552 4,493
     Sport-utility vehicles 3,913 3,795 3,639 3,851
     All passenger vehicles 4,026 4,116 4,075 4,059
Average loss payment per insured vehicle year        
     Passenger cars and minivans $315 $346 $351 $328
     Pickups 253 279 282 263
     Sport-utility vehicles 231 235 227 232
     All passenger vehicles 283 308 307 293
Source: Highway Loss Data Institute.

CONSUMER PRICES

The Bureau of Labor Statistics's consumer price index  (CPI) tracks changes in the prices paid by consumers for a representative "basket" of goods and services. The index shows that the cost of auto insurance increased 2.5 percent in 2008, after increasing by less than 1 percent in 2006 and 2007.

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 1999-2008

CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 1999-2008 (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
1999 166.6 2.2% 253.8 -0.2% 250.6 3.5% 236.0 2.8% 109.3 4.1%
2000 172.2 3.4 256.7 1.1 260.8 4.1 244.7 3.7 115.9 6.0
2001 177.1 2.8 268.1 4.4 272.8 4.6 253.6 3.6 123.6 6.6
2002 179.9 1.6 291.6 8.8 285.6 4.7 260.6 2.8 134.7 9.0
2003 184.0 2.3 314.4 7.8 297.1 4.0 267.7 2.7 144.7 7.4
2004 188.9 2.7 323.2 2.8 310.1 4.4 278.3 4.0 153.4 6.0
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
Percent change
1999-2008
  29.2%   34.6%   45.3%   31.9%   80.4%

(table continues below)

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 1999-2008

CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 1999-2008 (Base: 1982-84=100) (Cont’d)

 

  Health insurance  (2) Motor vehicle body work New vehicles New cars New trucks (3)
Year Index Percent change Index Percent change Index Percent change Index Percent change Index Percent change
1999 NA NA 182.2 1.5% 142.9 -0.3% 139.6 -0.8% 152.0 0.6%
2000 NA NA 187.8 3.1 142.8 -0.1 139.6 0.0 151.7 -0.2
2001 NA NA 194.9 3.8 142.1 -0.5 138.9 -0.5 150.7 -0.7
2002 NA NA 199.6 2.4 140.0 -1.5 137.3 -1.2 147.8 -1.9
2003 NA NA 202.9 1.7 137.9 -1.5 134.7 -1.9 146.1 -1.2
2004 NA NA 208.2 2.6 137.1 -0.6 133.9 -0.6 145.0 -0.8
2005 NA NA 215.0 3.3 137.9 0.6 135.2 1.0 145.3 0.2
2006 103.1 NA 224.8 4.6 137.6 -0.2 136.4 0.9 142.9 -1.7
2007 113.5 10.1 232.2 3.3 136.3 -0.9 135.9 -0.4 140.7 -1.5
2008 114.2 0.6 239.7 3.2 134.2 -1.5 135.4 -0.3 137.1 -2.6
Percent change
1999-2008
  10.8% (4)   31.6%   -6.1%   -3.0%   -9.8%
(table continues below)

Consumer Price Indices For Insurance And Related Items And Annual Rates Of Change, 1999-2008

CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 1999-2008 (Base: 1982-84=100) (Cont’d)

 

  Used cars and trucks  Tenants and household insurance (5), (6) Repair of household items (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
1999 152.0 0.9% 101.3 1.5% 107.2 5.3% 180.0 4.8% $138 3.9%
2000 155.8 2.5 103.7 2.4 111.6 4.1 189.3 5.2 144 4.1
2001 158.7 1.9 106.2 2.4 119.4 7.0 199.5 5.4 153 6.6
2002 152.0 -4.2 108.7 2.4 125.1 4.8 211.1 5.8 165 7.8
2003 142.9 -6.0 114.8 5.6 131.0 4.7 221.7 5.0 179 8.4
2004 133.3 -6.7 116.2 1.2 139.4 6.4 232.3 4.8 195 9.3
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 -3.1 117.0 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 -9.6
Percent change
1999-2008
  11.9%   17.3%   58.6%   50.4%   43.5%
(1) December 1996=100.
(2) December 2005=100.
(3) December 1983=100.
(4) 2006-2008.
(5) December 1997=100.
(6) Only includes insurance covering rental properties.

NA=Data not available.

Note: Percent changes after 2007 for consumer price indices calculated from unrounded data.

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