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Insights from over 25 million auto insurance premiums

Insuring the American Driver

Trends in cost and coverage

Insuring the American Driver

Trends in cost and coverage

In the United States there are:
227+ million
licensed drivers
87%
are insured
$1,463
is the average amount a driver will spend on auto insurance this year
Insurify takes a closer look at the elements driving pricing trends in 2020, recaps major events in the auto insurance landscape this year, and looks ahead to car insurance costs in 2021.
What factors impact your policy price?
Who you are
Gender & age
On average, women pay less than men for car insurance.
In fact, the average policy price for a female driver is 4% less than that of a male driver.
Marital status & home ownership
Owning a home can reduce the price of a premium significantly. On average, ummarried homeowners pay the least for their car insurance, 15% less than unmarried renters and 21% less than married ones.
Level of education
While high school educated drivers tend to pay the most on car insurance, drivers with a PhD tend to pay the least.
Where you live
The average car owner pays $122 per month for auto insurance, which is up 1.5% from 2019.
iNSURiFY iNSiGHT
Drivers who live in cities pay an additional $129 annually for their policies compared to drivers who live outside of city limits.
Urban
$1,534
Non-urban
$1,405
Your driving record
The price of your policy can be greatly influenced by your driving record.
Drivers with clean records tend to pay significantly less for their car insurance than drivers with a previous moving violation - even a minor one.
Your vehicle

Insuring the 3 most popular vehicles in the nation.

Nissan Altima
$1,652
Honda Accord
$1,451
Chevrolet Malibu
$1,617
iNSURiFY iNSiGHT
Honda is the most commonly driven vehicle make in the United States.
Discounts
Here are just a few ways to save money on your car insurance costs
Bundling with homeowner’s insurance
Average yearly savings
$123
Senior driver safety training
Average yearly savings
$304
Military service
Average yearly savings
$45
Major changes for the car insurance industry in 2020
According to statistics published by the National Safety Council, Americans drove 28% fewer miles following the onset of the outbreak this spring than they did during the same period in 2019.
iNSURiFY iNSiGHT
Less driving means fewer crashes, and fewer accidents translate to fewer claims filed. In the face of this windfall, 57% of insurers offered credits, refunds, or discounts to policyholders this spring. However, only 10% of insurers offered more long-term payment relief.
About & methodology
About
Insurify’s Insuring the American Driver report is a comprehensive analysis of the 2020 car insurance quotes landscape, analyzing 25.5 million auto insurance premiums.
It takes a closer look at the unique factors driving individual insurance costs, covers major events in the industry from this year, and offers rate projections looking ahead to 2021.
Insurify is the top-rated virtual insurance agent in America, offering instantaneous quote comparison for auto, home, and life policies. It is also a valued source of data-driven trends, statistics, insights, and consumer education about the insurance industry.
Methodology
The analytics team at Insurify examined over 25 million rates from the car insurance applications in its proprietary database over the past year. Applications originate from all 50 states, as well as Washington, D.C., and contain information on car owners’ vehicles, driving history dating back seven years, and personal demographic information. The premiums recorded on Insurify’s comparison platform are driven directly by underwriting and rating software.