NAIC reports auto insurance premiums earned up over 3% in 2021.
Total direct premiums earned on private passenger auto insurance were $257.7 billion in the U.S. in 2021, up over $7 billion, or 3.1% from $250 billion in 2020 according to final data released March 28 by the National Association of Insurance Commissioners (NAIC). The return to growth follows the approximate $1 billion decline in 2020 due to the pandemic.
In 2020, as a result of the reduction in driving due to pandemic restrictions, many insurers early on voluntarily started rebate and discount programs for their customers. Many states then