Consumer Expenditure Survey · BLS CE 2024
Vehicle insurance spending
U.S. households spent $1,993/yr on vehicle insurance in 2024 - 2.5% of the average budget . Up 12.3% vs 2023 ; the top income quintile outspends the bottom by 3.2×. Figures from the BLS Consumer Expenditure Survey.
- 2024 avg
- $1,993
- Budget share
- 2.5%
- vs 2023
- +12.3%
CES spend plate
Line VEHICLE-INSURANCE · Vehicle insurance $1,993 · 2.5%
SHARE-THIN · QUINT-WIDE · YOY-SURGE · REAL-INLINE · REGION-SOUTH · BOOK-UPPER
- SHARE-THIN 2.5% of budget
- QUINT-WIDE 3.2× Q5/Q1
- YOY-SURGE +12.3% YoY
- REAL-INLINE Near CPI
- REGION-SOUTH South leads
- BOOK-UPPER #28/99 dollars
Nearest dollar peer: Maintenance and repairs ($-1,009)
Instrument codes from this line’s budget share, income-quintile gap, YoY move, real change vs ~21% CPI-U (2020-2024), regional lead, and corpus book size, not a budgeting recommendation.
Spend neighbourhood around Vehicle insurance
Lowest and highest poles plus nearest dollar peers among sibling lines, not a full-board reprint. Figures from the BLS Consumer Expenditure Survey.
Dollar neighbourhood · Vehicle insurance
Average annual spending · 2024 · poles + near peers
this line
Spending Trend (2020–2024)
Vehicle insurance spending per household, 2020–2024
National average annual spending
| Year | Annual Amount |
|---|---|
| 2024 | $1,993 |
| 2023 | $1,775 |
| 2022 | $1,592 |
| 2021 | $1,528 |
| 2020 | $1,575 |
Income stretch on a large vehicle insurance line
A large CES line: top-quintile households spend $2,840/yr here vs $895 at the bottom (3.2×).
| Income Group | Annual Amount |
|---|---|
| Lowest 20% | $895 |
| Second 20% | $1,679 |
| Middle 20% | $2,028 |
| Fourth 20% | $2,518 |
| Highest 20% | $2,840 |
South leads vehicle insurance geographically
South leads at $2,213/yr among the bigger CES categories.
Lifecycle peak · 45–54
45–54 heads spend the most on this line at $2,609/yr - a lifecycle peak on a large budget share.
Frequently Asked Questions (show 6)
How much does the average household spend on vehicle insurance? ▼
Is vehicle insurance spending increasing? ▼
How does income affect vehicle insurance spending? ▼
Which region spends the most on vehicle insurance? ▼
Which age group spends the most on vehicle insurance? ▼
Does household size affect vehicle insurance spending? ▼
Other large CES lines near vehicle insurance
Dollar-amount and budget-share neighbours from BLS CE 2024 (this category excluded).
Similar dollar amount
Nearest other categories by 2024 average annual spending ($1,993 here).
| Category | 2024 avg |
|---|---|
| Apparel and services | $2,001 |
| Household operations | $1,921 |
| Electricity | $1,833 |
| Cash contributions | $2,292 |
| Gasoline | $2,411 |
| Household furnishings and equipment | $2,414 |
| Education | $1,569 |
| Other food at home | $2,447 |
Similar budget share
Nearest other categories by share of the household budget (2.5% here).
| Category | Budget share |
|---|---|
| Apparel and services | 2.5% |
| Household operations | 2.4% |
| Electricity | 2.3% |
| Cash contributions | 2.9% |
| Education | 2.0% |
| Cars and trucks, new | 3.1% |
| Gasoline | 3.1% |
| Household furnishings and equipment | 3.1% |
Average household budget · Methodology · BLS CEX source
Informational only - not advice. See disclaimer.