Car Insurance Rate Trends
Monthly CPI data from the Bureau of Labor Statistics (.gov)
Car insurance prices rose sharply from 2022 through 2024, with year-over-year increases peaking at +22.64% in Apr 2024, according to the Bureau of Labor Statistics Consumer Price Index for motor vehicle insurance. As of Feb 2026, the latest year-over-year change is +0.16%, showing significant deceleration from the peak.
A positive year-over-year (YoY) change means insurance costs rose compared to the same month the previous year. Click any column header to sort.
| Month | CPI Index | YoY Change |
|---|---|---|
| 2023-01 | 658.5 | +14.72% |
| 2023-02 | 668.8 | +14.46% |
| 2023-03 | 677.4 | +14.99% |
| 2023-04 | 684.2 | +15.51% |
| 2023-05 | 695.9 | +17.07% |
| 2023-06 | 705.7 | +16.85% |
| 2023-07 | 717.8 | +17.75% |
| 2023-08 | 733.1 | +19.1% |
| 2023-09 | 742.3 | +18.85% |
| 2023-10 | 759.7 | +19.24% |
| 2023-11 | 768.2 | +19.23% |
| 2023-12 | 780.3 | +20.27% |
| 2024-01 | 794.1 | +20.6% |
| 2024-02 | 806.4 | +20.58% |
| 2024-03 | 827.9 | +22.2% |
| 2024-04 | 839.1 | +22.64% |
| 2024-05 | 836.9 | +20.26% |
| 2024-06 | 843.6 | +19.54% |
| 2024-07 | 851 | +18.56% |
| 2024-08 | 854.3 | +16.53% |
| 2024-09 | 863.3 | +16.3% |
| 2024-10 | 866 | +13.99% |
| 2024-11 | 866.1 | +12.74% |
| 2024-12 | 868.4 | +11.29% |
| 2025-01 | 887.7 | +11.77% |
| 2025-02 | 896 | +11.1% |
| 2025-03 | 890.4 | +7.55% |
| 2025-04 | 892.6 | +6.37% |
| 2025-05 | 895.3 | +6.97% |
| 2025-06 | 895.3 | +6.13% |
| 2025-07 | 896 | +5.29% |
| 2025-08 | 894.1 | +4.66% |
| 2025-09 | 890.5 | +3.15% |
| 2026-02 | 897.4 | +0.16% |
Last updated: Feb 2026. Source: BLS CPI Series CUUR0000SETE
What Drove the 2022-2024 Surge
The steepest car insurance inflation in decades was driven by a convergence of factors. Vehicle repair costs rose sharply as supply chain disruptions limited parts availability and newer vehicles incorporated more expensive sensors, cameras, and ADAS technology. Medical costs continued their long-term climb, increasing bodily injury claim payouts. Severe weather events (hurricanes, hailstorms, flooding) drove up comprehensive claims. And insurers raised rates aggressively to recover from pandemic-era underwriting losses, when premiums lagged behind rising costs.
Where Rates Stand Now
The pace of increases has clearly decelerated. After peaking at +22.64% year-over-year in Apr 2024, the latest reading of +0.16% in Feb 2026 shows the worst of the inflation wave has passed. However, the CPI index itself remains elevated at 897.4, meaning prices have not come down; they are simply rising more slowly. The current index is roughly 56% higher than it was in early 2022.
What This Means for You
In an environment where rates have risen significantly, comparison shopping matters more than ever. The drivers who last shopped for quotes in 2021 or 2022 are the most likely to be overpaying, because their current insurer has applied multiple rate increases since then. Getting fresh quotes from at least three carriers can reveal whether your current rate is still competitive. Our national averages page shows the current benchmark, and our rates by state table lets you see how your state compares.
Frequently Asked Questions
Is car insurance getting more expensive?
Car insurance prices have risen dramatically since 2022. The BLS Consumer Price Index for motor vehicle insurance peaked at a year-over-year increase of +22.64% in Apr 2024. As of Feb 2026, the latest year-over-year change is +0.16%. The overall index has risen from around 574 in early 2022 to 897.4 today.
Why have car insurance rates gone up so much?
Multiple factors drove the 2022-2024 surge: vehicle repair costs rose due to supply chain disruptions and more expensive technology in newer cars, medical costs continued to climb, severe weather events increased comprehensive claims, and insurers raised rates to catch up after pandemic-era losses. The combination produced the steepest insurance inflation in decades.
When will car insurance rates go down?
The rate of increase has slowed considerably from its 2023 peak. Year-over-year changes have moderated, though index levels remain elevated. Rates are unlikely to return to pre-2022 levels because the underlying cost drivers (vehicle complexity, medical inflation, weather events) are structural, not temporary. However, the pace of increases has clearly decelerated.
For current average costs, see our national averages table or rates by state.
This data is for informational purposes only and does not constitute insurance, financial, or legal advice. Data may contain errors or be outdated. Always verify details with a licensed insurance professional before making coverage decisions.
Sources
[1] Bureau of Labor Statistics, "CPI Series CUUR0000SETE: Motor Vehicle Insurance, U.S. City Average," data.bls.gov