The data is formatted as a spreadsheet, encompassing the primary activities over a span of three full years (November 2015 to December 2018) concerning non-life motor insurance portfolio. This dataset comprises 105,555 rows and 30 columns. Each row signifies a policy transaction, while each column represents a distinct variable.

Michigan had the most expensive car insurance premiums at ***** U.S. dollars for minimum coverage in 2023, though the premiums in many states fell in that year. The annual premium in Florida also fell by almost ***** U.S. dollars in 2023. This trend occurred in many high premium states. Why it varies state by state The huge variance in premiums between states is due to the difference in state laws, the percentage of uninsured drivers in the state, the frequency of natural disasters and claim rates. For instance, Michigan has a no-fault car insurance system, which means that claims are more common. This drives up the cost of insurance for all drivers because insurers need to pay out more money in claims. Male drivers also pay more There is also a difference between premiums among different age groups. In 2023, 20-year-old male drivers paid roughly ** U.S. dollars more per month than 20-year-old female drivers did. This is due to the higher incidence of accidents in among young male drivers. This means that young drivers in states which already have higher premiums must pay a lot for car insurance.

Graph and download economic data for Producer Price Index by Industry: Premiums for Property and Casualty Insurance: Premiums for Private Passenger Auto Insurance (PCU9241269241261) from Jun 1998 to May 2025 about property-casualty, premium, passenger, insurance, vehicles, private, PPI, industry, inflation, price index, indexes, price, and USA.

The frequency of private passenger comprehensive auto insurance claims for physical damage in the United States rose to 3.15 per 100 car years in 2021, compared to 2.7 in 2020. This was the highest frequency recorded over the past 15 years.

Graph and download economic data for Expenditures: Vehicle Insurance: All Consumer Units (CXU500110LB0101M) from 1984 to 2023 about consumer unit, insurance, vehicles, expenditures, and USA.

Consumers in the United States increased their spending on auto insurance by roughly 50 percent between 2012 and 2022. In 2022, the average expenditure on vehicle insurance in the U.S. amounted to 1,592 U.S. dollars per consumer unit, up from 1,018 U.S. dollars 10 years earlier.

Australia's Car Insurance industry has demonstrated resilience and responsiveness to changing consumer demands and technological advancements. Despite facing challenges like fluctuating vehicle usage patterns and economic uncertainties at the height of the pandemic, the industry has continued to evolve. Insurers have focused on offering more personalised and flexible plans to meet drivers’ diverse needs. Companies that’ve embraced digital transformation and customer-centric strategies have shown particular strength, laying a foundation for future growth in a competitive landscape. Industry revenue is anticipated to have grown at an annualised 1.5% over the past five years and is expected to total $29.9 billion in 2024-25, when revenue is set to climb 0.4%. Evolving technology and consumer behaviours have influenced significant shifts in the Australian car insurance market. Traditional insurance giants have had to grapple with regulatory changes and disruptive insurtech start-ups. Companies like Huddle, which leverage AI and machine learning for efficient claims processing and risk assessment, are setting new benchmarks for the industry. Customisable insurance products have made a notable impact, catering to niche markets like occasional drivers or EV owners. Telematics and usage-based insurance models have also grown, reflecting a more data-driven approach to coverage. Despite ongoing challenges, profitability has managed to climb, largely thanks to insurers passing on cost increases to consumers. Looking ahead, the industry is set to exhibit more growth, with revenue forecast to expand at an annualised 2.6% through the end of 2029-30 to total $34.1 billion. With more insurers adopting AI-powered platforms and automation, the industry’s traditional processes will become more streamlined, allowing firms to assess risks and process claims in real time. As these technologies mature, insurers are set to minimise their operational costs and deliver quicker, more accurate services, thereby enhancing customer satisfaction. Demand for personalised insurance products will continue to climb, pushing companies to develop more flexible and tailored solutions. This shift will likely attract niche markets and cater to specific consumer needs, like EV owners or drivers who prefer usage-based insurance.

The provided data asset is relational and consists of four distinct data files.

1. address.csv: contains address information

2. customer.csv: contains customer information.

3. demographic.csv: contains demographic data

4. termination.csv: includes customer termination information.

5. autoinsurance_churn.csv: includes merged customer churn data generated from this notebook.

All data sets are linked using either ADDRESS_ID or INDIVIDUAL_ID. The ADDRESS_ID pertains to a specific postal service address, while the INDIVIDUAL_ID is unique to each individual. It is important to note that multiple customers may be assigned to the same address, and not all customers have demographic information available.

Size of the data set

The data set includes 1,536,673 unique addresses and 2,280,321 unique customers, of which 2,112,579 have demographic information. Additionally, 269,259 customers cancelled their policies within the previous year.

Note

Please note that the data is synthetic, and all customer information provided is fictitious. While the latitude-longitude information can be mapped at a high level and generally refers to the Dallas-Fort Worth Metroplex in North Texas, it is important to note that drilling down too far may result in some data points that are located in the middle of Jerry World, DFW Airport, or Lake Grapevine. The physical addresses provided are fake and are unrelated to the corresponding lat/long.

The termination table includes the ACCT_SUSPD_DATE field, which can be used to derive a binary churn/did not churn variable. The data set is modelable, meaning that the other data available can be used to predict which customers churned and which did not. The underlying logic used to make these predictions should align with predicting auto insurance churn in the real world.

16-year-olds paid the highest amount for full coverage car insurance in the United States in 2023. It was found that 16-year-old drivers in the U.S. had to pay approximately *** U.S. dollars per year for car insurance, whereas their 21-year-old counterparts paid only *** U.S. dollars for the same coverage.

Recent three years of property insurance market statistics for motor vehicle insurance claims ratio - (annual)(CIRC)

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Motor Vehicle Insurance Market Size 2024-2028

The motor vehicle insurance market size is forecast to increase by USD 545.9 billion, at a CAGR of 10.44% between 2023 and 2028.

The market is experiencing significant shifts driven by increasing government regulations on mandatory insurance coverage in developing countries and the digitalization of the industry. These factors are shaping the market's strategic landscape, presenting both opportunities and challenges for insurance players. Government regulations in developing countries are pushing for mandatory insurance coverage, expanding the potential customer base for motor vehicle insurers. This trend is particularly noticeable in Asia Pacific and Latin America, where economic growth and urbanization are leading to increased car ownership. However, this regulatory environment also tightens the competitive landscape, as more players enter the market and compliance becomes a priority.
Simultaneously, the digitalization of the motor vehicle insurance industry is transforming the way insurers engage with customers and manage risk. Digital platforms enable real-time underwriting, claims processing, and customer service, enhancing the overall customer experience. However, this digital shift also brings challenges, such as data security concerns and the need for robust IT infrastructure. To capitalize on opportunities and navigate challenges effectively, insurers must stay abreast of regulatory changes and invest in digital capabilities.

What will be the Size of the Motor Vehicle Insurance Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, shaped by dynamic market forces and advancements in technology. AI-powered claims processing streamlines underwriting and settlement negotiations, while digital insurance platforms offer convenience and personalized pricing. Data analytics and credit scoring inform risk assessment and customer segmentation, shaping insurance regulations and product offerings. Collision coverage and liability limits are subject to ongoing adjustments, influenced by factors such as driving record and insurable interest. Third-party administrators (TPAs) and legal counsel facilitate dispute resolution, ensuring regulatory compliance and comparative negligence assessments. Fraud detection and independent verification are essential components of claims processing, with advanced predictive modeling and accident reconstruction techniques aiding in claims investigation and policy administration.

How is this Motor Vehicle Insurance Industry segmented?

The motor vehicle insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Personal
  Commercial


Distribution Channel

  Brokers
  Direct
  Banks
  Others


Vehicle Age

  New Vehicles
  Old Vehicles
  New Vehicles
  Old Vehicles


Coverage Type

  Liability Insurance
  Collision Insurance
  Comprehensive Insurance


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    Italy
    Spain
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

The personal segment is estimated to witness significant growth during the forecast period.

Motor vehicle insurance is a crucial financial protection for vehicle owners and drivers. The insurance policy, which is a compulsory requirement under the Motor Policy, offers coverage for both comprehensive and third-party liability packages. Personal insurance, an optional add-on cover, safeguards the owner or driver against accidental injuries. Insurance agents and brokers play a significant role in advising clients on coverage limits and policy options. Actuarial modeling and predictive analytics are used to assess risk and determine personalized pricing. Liability coverage, including property damage and bodily injury, is a key component of motor vehicle insurance. Fraud detection and independent verification are essential for dispute resolution and maintaining regulatory compliance.

Digital insurance platforms and ai-powered claims processing streamline the claims management process. Data analytics and customer segmentation help insurers tailor policies to individual needs. Usage-based insurance and mobile apps provide real-time data for risk assessment and customer retention. Insurance regulations mandate coverage for medical payments and accident reconstruction, as well as policy administration and claims processing. Policy cancellatio

Graph and download economic data for Producer Price Index by Industry: Direct Property and Casualty Insurers: Commercial Auto Insurance (PCU5241265241263) from Jun 1998 to May 2025 about property-casualty, insurance, vehicles, commercial, PPI, industry, inflation, price index, indexes, price, and USA.

An expanding commercial auto insurance market has been instrumental to the growth of the commercial auto insurance industry's revenue over the past five years. Insurers directly underwrite commercial liability, collision and comprehensive insurance policies, covering medical and property damage expenses resulting from business clients' vehicle accidents. A steady increase in e-commerce and transportation network company demand and a growing economy and vehicle fleet bolstered industry revenue. In 2020, because of the pandemic, expanded e-commerce and shipping activity increased demand for commercial auto insurance and thereby maintained premium rates, limiting the volatility the industry experienced that year. Overall, over the past five years, revenue has grown at a CAGR of 3.9% to $71.6 billion, including an expected 0.8% increase in 2024. Over the next five years, the economic expansion following the pandemic is expected to continue, in addition to a rise in premium rates and continued high levels of e-commerce, shipping and transportation network company activity are all expected to continue bolstering revenue. Also, insurers are expected to be better able to price the new risks associated with commercial auto insurance, helping to boost profitability. Due to increased levels of natural disasters and weather-related events, demand for collision and comprehensive insurance is expected to increase. Insurers who are most successful in pricing these policies and accessing the reinsurance market to safeguard their balance sheets from extraordinary risk will likely be the most successful going forward. Additionally, insurers who make the best and most extensive use of novel data collection, pricing and predictive modeling techniques enabled by the pervasive spread of smartphones and machine learning will retain a competitive advantage. Overall, revenue is forecast to grow at a CAGR of 1.9% to $78.6 billion over the five years to 2029.

The data are real automobile insurance data from a Norwegian company in the late 1980's and early 1990's. The source is confidential. The example comes from a Norwegian insurance company, was shared with Erik Bølviken and consists of n=6446 claims of cost due to personal injuries in motor insurance with the deductible subtracted. They include cost due to personal injuries. They have mean and standard deviation 23.9 and 28.9 in 1000 NOK, and are heavy-tailed with skewness 5.6 and kurtosis 71.2.

State Farm Mutual Automobile Insurance was the leading private passenger car insurer in the United States in 2023, with premiums written amounting to approximately 58 billion U.S. dollars. Progressive Corporation, and Berkshire Hathaway Inc. were the next largest insurers in that sector. State Farm: a background State Farm Mutual Automobile Insurance was founded in 1922 and is headquartered in Bloomington, Illinois. In 2023, the insurer was the largest writer of property and casualty insurance in the United States. They provide vehicle, homeowners, renters, life and annuities, health, disability and flood insurance among several other insurance products. Net promoter score and ad spend of State Farm Despite their market leader status, State Farm's net promoter score puts them in the middle of the pack with only 42 percent of their customers saying they would recommend the insurer. However, their nearest competitors did not score any better with Progressive receiving a NPS of only 38 percent in the same analysis. The three largest car insurers were also the biggest spenders on advertising.

The DFS ranks automobile insurance companies doing business in New York State based on the number of consumer complaints upheld against them as a percentage of their total business over a two-year period. Complaints typically involve issues like delays in the payment of no-fault claims and nonrenewal of policies. Insurers with the fewest upheld complaints per million dollars of premiums appear at the top of the list. Those with the highest complaint ratios are ranked at the bottom.

Recent five years property insurance market any motor vehicle insurance premium income statistics - Self-use large passenger car (Bao Fa Center)

OVERVIEW In March 2019, Poverty Solutions released “AUTO INSURANCE AND ECONOMIC MOBILITY IN MICHIGAN: A CYCLE OF POVERTY”, a policy brief detailing the sources of Michigan’s highest-in-the-nation auto insurance rates and providing policy options for policymaker seeking to enact changes that would reduce overall rates and reduce rate disparities. The report pulled data from The Zebra, an auto insurance comparison marketplace, to show the distribution of rates by ZIP code and to calculate a cost burden for each ZIP code. DATAThe Zebra – provides ZIP code level data on average auto insurance rates from 2011-2017. The data represents an average of market prices facing a consistent base consumer profile. According to the Zebra, “Analysis used a consistent base profile for the insured driver: a 30-year-old single male driving a 2014 Honda Accord EX with a good driving history and coverage limits of $50,000 bodily injury liability per person/$100,000 bodily injury liability per accident/$50,000 property damage liability per accident with a $500 deductible for comprehensive and collision”.[1] For more information on The Zebra’s data collection methodology go to www.thezebra.com.Click here for metadata (descriptions of the fields).

United States - Producer Price Index by Industry: Premiums for Property and Casualty Insurance: Premiums for Commercial Auto Insurance was 131.41500 Index Jun 1998=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Premiums for Property and Casualty Insurance: Premiums for Commercial Auto Insurance reached a record high of 131.41500 in May of 2025 and a record low of 100.00000 in July of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Premiums for Property and Casualty Insurance: Premiums for Commercial Auto Insurance - last updated from the United States Federal Reserve on July of 2025.

Germany Vehicle Cost Index: Vehicle Insurance data was reported at 98.200 2000=100 in 2007. This records an increase from the previous number of 96.500 2000=100 for 2006. Germany Vehicle Cost Index: Vehicle Insurance data is updated yearly, averaging 100.450 2000=100 from Dec 2002 (Median) to 2007, with 6 observations. The data reached an all-time high of 104.500 2000=100 in 2002 and a record low of 96.500 2000=100 in 2006. Germany Vehicle Cost Index: Vehicle Insurance data remains active status in CEIC and is reported by German Association of the Automotive Industry. The data is categorized under Global Database’s Germany – Table DE.RA015: Vehicle Cost Index (2000=100).