It's no secret that the price of auto insurance persistently swelled in recent years, thanks to increased accident severity, which means more medical bills, and higher costs to repair vehicles or replace those that are stolen — particularly newer vehicles loaded with technology. "[Accident] severity is really the thing that has influenced rates more over the last two years than anything," Greg Smolan, vice president of insurance operations at AAA Northeast, told The Associated Press in April. "A fender bender in the past didn't have all the sensors and cameras." In the face of rising costs, auto insurance carriers raised premiums. The average motor vehicle insurance premium swelled about 15% between 2021 and 2023, according to the Insurance Information Institute. And the March 2024 Consumer Price Index was even more bullish about how much auto insurance rates rose over the last year, reporting that premiums increased more than 20% in 2023. It follows that auto insurance carriers reported historically high premiums written in 2023, according to filings tracked by the National Association of Insurance Commissioners (NAIC). As of March 2024, the industry's top personal auto insurance carriers logged direct premiums written of roughly $314.79 billion, which was about 33% of all written premiums. As of March 2023, total private passenger auto insurance premiums written were $178.37 billion, which was about 29% of all written premiums. The slideshow above illustrates the top personal auto insurance carriers of 2023 based on market share, according to the NAIC. See also: |

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