The National Association of Insurance Commissioners (NAIC) released its comprehensive 2021/2022 Auto Insurance Database Report on February 26, 2025. This 224-page analysis provides critical insights into the factors driving personal automobile insurance costs across the United States. As insurance professionals navigate increasingly complex market conditions, this report offers valuable data to inform strategic underwriting, pricing, and risk management decisions.
National Trends and Key Metrics
The report reveals several significant industry developments:
- The national combined average premium per insured vehicle reached $1,258 in 2022, representing a 5.75% increase from 2021
- Total liability incurred losses reached $103.8 billion in 2021, a substantial 19.4% increase from 2020
- The average incurred loss per collision claim jumped 18.6%, from $5,185 in 2020 to over $6,150 in 2021
- Liability premiums grew 8.61% from 2018 to 2022, outpacing the 5.9% growth in insured vehicles during the same period
- The national average expense per insured vehicle reached $1,126 in 2022, a 6.49% increase from 2018
While the report does not give the total automobile insurance premium directly, a calculation for the figures shown for registered vehicles and average premiums for 2021 and 2022 suggest total premiums of approximately $300 million each year.
Market Dynamics and State Variations
The report emphasizes that direct state-to-state comparisons require careful consideration due to significant regional differences in:
- Policyholder classifications and vehicle characteristics
- State auto and tort laws
- Rate filing regulations
- Traffic conditions and accident rates
- Vehicle theft statistics
- Repair costs and medical expenses
- Required coverage types, limits, and benefits
Comprehensive Coverage Analysis
The NAIC report provides detailed earned and incurred data for calendar years 2019-2021, broken down by voluntary and residual market segments. This granular approach offers insurance professionals deeper insights into different risk profiles across various coverage types:
- Bodily injury liability
- Property damage liability
- Combined single limits liability
- Personal injury protection
- Medical payments
- Uninsured/underinsured motorist coverage
- Collision and comprehensive coverages
State-Specific Intelligence
The report includes specialized analysis for several states, including Massachusetts, with technical notes explaining data sources, calculation methodologies, and limitations. This state-specific intelligence provides critical context for insurance professionals operating in these markets, helping them navigate unique regulatory environments and regional market dynamics.
Strategic Implications
For insurance professionals in Massachusetts and beyond, this report offers essential data to:
- Benchmark pricing strategies against national and regional averages
- Identify emerging risk factors and cost drivers
- Understand regulatory trends and compliance requirements
- Develop targeted underwriting guidelines for specific markets
- Forecast future market conditions and prepare strategic responses
As stated earlier, the free 2021/2022 Auto Insurance Database Report represents a useful resource for insurance professionals seeking to enhance their market understanding and develop data-driven strategies in today’s complex automotive insurance landscape.
Free Download of Report
To download the report for free, visit the NAIC website at NAIC Releases 2021–2022 Auto Insurance Database Report. Then, click on the “2021 – 2022 Auto Insurance Database Report” link in the press release.
