October auto insurance prices increase 12.9%, outpacing overall CPI
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

October auto insurance prices increase 12.9%, outpacing overall CPI

Farhin Lilywala
November 10, 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
NYC traffic cars automobiles.jpg

The annual price increase for motor vehicle insurance accelerated 2.6 points to 12.9% in October, even as the all-items Consumer Price Index (CPI) moderated minimally to a 7.7% gain for the last 12 months.

In September, the motor vehicle insurance index recorded a 10.3% year-over-year increase.

Meanwhile, medical inflation – a key input to long-tail loss costs – increased 5.4%

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News Rates Personal auto
farhin lilywala/farhin lilywala ii us.png
Farhin Lilywala
Section Editor, Distribution & Specialty
Contact
Gift this article