Data: Auto Insurance Rates Rising in 2023

A new report from Bankrate.com details how much more Americans are expected to pay for their annual auto insurance premium. The report says on average, Americans will pay an average annual premium of $2,014, about 3% of the median U.S. yearly income. This is a slight increase of half a percent compared to premiums in 2022. The average premium increase across all states was $95 with drivers in some states faring better than others.