Auto insurance coverage affordability underneath scrutiny in new report

In 2022, the latest yr for which knowledge is accessible, US households spent a mean of $1,127 per automobile on auto insurance coverage, representing 1.51% of the median family earnings of $74,580. This marked a slight enhance from the earlier yr. State-by-state variations have been important, with North Dakota having the bottom expenditure share at 0.93%, whereas Louisiana had the best at 2.67%.