2022 Auto Insurance Trends Report: Part II

2022 in Review and What’s Ahead for 2023

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Insurify’s 2022 Auto Insurance Trends Report Part II: 2022 in Review and What’s Ahead for 2023, the final installment of a two-part report, examines car insurance in 2022 and projects what consumers could face in 2023.

To identify the most relevant trends of the past year and forecast 2023 rates, we reviewed more than 69 million quotes served to consumers who used Insurify to comparison-shop for auto insurance.

This second report forecasts insurance prices for 2023, details where costs rose the most in 2022, and surveys drivers on how their rates are changing and how they’re trying to save.

Interested in learning more about how insurance costs rose in 2022? Check out Insurify's 2022 Auto Insurance Trends Report Part I: Who's Paying More for Coverage.

The projected cost of auto insurance in 2023

In 2022, rising inflation and more frequent and severe traffic accidents pushed car insurance rates higher. 

Nationwide, the average cost of car insurance rose by 9%, to $1,777 per year,  in 2022.

Based on historical trends and the current state of the industry, Insurify’s expert team predicts the average annual car insurance rate will rise by another 7%, to $1,895, in 2023.

Projected annual rates for car insurance in 2023

Bar chart showing the average cost of car insurance 2019 - 2022 and the projected average cost in 2023.* 2023 rate is a projection based on Insurify's proprietary quotes data

2023 trends from Insurify’s panel of insurance experts

We asked our panel of insurance experts to tell us what will be the main drivers of insurance increases next year. These are the key trends they identified:

 Americans are driving more, causing more total accidents.
Americans are driving more, causing more total accidents.
 Auto repair costs are rising, making every accident more expensive.
Auto repair costs are rising, making every accident more expensive.
 Inflation is increasing costs of all goods and services.
Inflation is increasing costs of all goods and services.
 Climate change could cause more frequent, damaging natural disasters.
Climate change could cause more frequent, damaging natural disasters.

Percent change in average car insurance costs 2021-2022

Heat map of the United States showing the how car insurance rates changed in every state between 2021 and 2022.

Where did insurance rates rise the most in 2022?

Some states saw significant hikes in their insurance rates this past year. Oregon, Maryland, and Virginia experienced the greatest increases in average car insurance costs in 2022, with premiums rising by more than 25% in all three states.

While prices stayed about the same in Michigan, rising just 1% year over year, the state remains the most expensive for car insurance. The average Michigan driver paid $2,895 for coverage in 2022, $1,188 more than the average American.

Americans became less interested in EVs but more concerned about insurance prices throughout 2022

Insurify surveyed more than 1,800 total drivers in July and November 2022, asking them in each instance how they were considering saving on rising vehicle expenses, including insurance, fuel, and maintenance costs.

With national fuel prices cooling off since June, drivers were half as likely to consider purchasing a hybrid or EV in November as they were just four months earlier.

However, Americans grew more concerned about insurance prices as the year wore on.

How drivers tried to save on vehicle costs: July 2022 vs. November 2022

Bar chart comparing how Americans tried to save on vehicle expenses in July and November of 2022.

Insurify's panel of insurance experts

Insurify’s expert panel helps our editorial team ensure our content is accurate, relevant, and addresses current news and trends in the insurance industry. Panel members draw on a wealth of insurance knowledge from their work as agents, educators, and industry leaders.

Headshot of industry expert Daniel Roccato
Daniel Roccato
Dan Roccato enjoyed a successful 20-year career with two of Wall Street’s most prominent investment banks: Merrill Lynch and Morgan Stanley. Advising corporations, pension funds, and institutional investors, Dan served as an executive abroad for several years and traveled extensively to more than 40 countries. He became a recognized expert in global securities services and corporate stock options.bIn 2006, Roccato founded Quaker Wealth Management, LLC, a registered investment advisory firm. After growing the company to nearly $300 million of client assets in 2019, Dan completed a successful sale of the firm to employees.In 2014, Dan was elected to the board of directors of Delanco Bancorp, a publicly-traded company that controls Delanco Federal Savings Bank. During his tenure on the board, the bank was successfully acquired by First Bank in a public transaction. Roccato is a graduate of Rutgers University, University of Pennsylvania, and Drexel University. Now, Dan is a clinical professor of finance at the University of San Diego School of Business, consistently ranking among the top of his peers. Previously, he was an adjunct professor of economics and finance at Rutgers University, where he was named Outstanding Adjunct Professor in 2012. Dan has also taught at Rowan College and lectured at Drexel University. He is a contributing author of the book "International Securities Lending" published by Macmillan in 1992. Dan has also authored several articles related to investments, capital markets, real estate, and personal finance.Dan is a Fox News Contributor specializing in Finance and Economic analysis. He also appears regularly on News Nation and a variety of local media outlets.
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Headshot of industry expert Laura Adams
Laura Adams
Laura Adams is one of the nation’s leading personal finance, insurance, and small business authorities. She’s an award-winning author, speaker, and the host of "Money Girl," a top-rated weekly podcast. She’s frequently quoted in the national media, and millions of readers and listeners benefit from her practical financial advice. Laura’s mission is to empower consumers to make smart money decisions every day through her spokesperson and advocacy work. She received an MBA from the University of Florida and lives in Vero Beach, Florida.
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Headshot of insurance expert Andrew Wynn
Andrew Wynn
Andrew Wynn is a two-time insurtech entrepreneur and the co-founder and co-CEO of Ascend, an all-in-one payments solution created for insurance. Prior to Ascend, he built a home maintenance startup called Sheltr, which provides homeowners with routine preventative maintenance service and diagnostics to offer data-driven proactive care to catch issues before they become costly repairs. Sheltr became the first acquisition made by the insurtech unicorn Hippo because of its intuitive and technological approach to building an insurance product that went beyond customer interaction. Prior to Sheltr, Andrew was an early employee at Instacart, leading the company’s product and data integration team.
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Insurify is America's top-rated virtual insurance agent. It provides expert advice on insurance-related topics and empowers customers to securely compare, buy, and manage their auto, home, and life insurance policies from the largest selection of accurate quotes.

Insurify has offered more than 69 million quotes to drivers. Insurify’s insurance experts and data scientists also provide consumers with data-driven insights, fresh perspectives on statistics, and information on general trends throughout the insurance industry.


To create Insurify’s 2022 Auto Insurance Trends Report, the research team at Insurify examined more than 69 million rates from car insurance applications in its proprietary database over the past year.

Insurify driver applications originate from all 50 states and Washington, D.C., and include information on the car owner’s vehicle, their driving history dating back seven years, and their demographic information.

The premiums recorded on Insurify’s comparison platform are quoted via integrations with insurance companies. Average premium costs by location, driving history, or demographic subset reflect all premiums that insurance companies quoted to drivers within that subset.

The data on drivers’ experiences and consumer behavior comes from two Insurify surveys of 1,800 total participants in July and November 2022.

All statistics and percentages in this report are based on Insurify surveys and customer data, unless otherwise stated.

Data attribution

The insights, statistics, data visualizations, and more from this report are free to use; we simply ask that you attribute any full or partial use to Insurify with a link to this page.

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