The U.S. city-average motor vehicle insurance index fell 5% over the year through September, Bureau of Labor Statistics (BLS) data showed, while repair and maintenance prices rose 5.8%.
The insurance index increased 0.1% from August, after seasonal adjustment. It tracks price movements in selected auto insurance policies, so its national reading does not show what every driver paid or will owe at renewal.
Earlier premium records show a different movement. The National Association of Insurance Commissioners (NAIC) reported that the average combined premium per issued vehicle reached $1,438 in 2023, 14.42% above 2022. The association also found that average incurred losses per collision claim rose 17.6%, from $6,113 in 2021 to $7,191 in 2022.
The NAIC figure is an average premium recorded for 2023. BLS compares policy prices over time while holding driver characteristics constant, so the index can move differently from an individual policyholder’s bill. The supplied figures do not establish why a particular driver might receive a renewal increase.
CBS News reported Nov. 9 that some drivers may still see renewal increases. It cited replacement parts and labor, medical treatment and rehabilitation, legal settlements, severe weather, theft and local accident patterns as possible pressures. The report did not estimate how much any one factor adds to premiums.
The NAIC says premiums can differ among insurers and may reflect a vehicle’s type, location, annual mileage, claims history, coverage limits and deductible. It recommends comparing quotes with the same coverage and limits and asking about discounts. A higher deductible can mean more out-of-pocket costs after a claim, so the association advises drivers to consider whether they could afford it.
The association says collision and comprehensive coverage are optional under state law, although a lender may require them on a financed vehicle. It advises drivers to check state liability requirements before changing coverage.
The BLS is scheduled to publish the October 2026 Consumer Price Index on Tuesday, Nov. 10, at 8:30 a.m. ET.
