Center for Automotive Research Finds Insurance Is Fastest-Growing Vehicle Ownership Cost

Automaker-sponsored affordability study ties premium growth in part to the cost of repairing ADAS-equipped vehicles.

Vehicle insurance has become the fastest-growing cost of owning and operating a vehicle, driven in part by the higher cost of repairing technologically advanced vehicles, according to a white paper the Center for Automotive Research (CAR) published in October.

The report, written by Tyler Harp, senior industry economist at the Ann Arbor, Michigan-based nonprofit, was sponsored by the Alliance for Automotive Innovation, though CAR said the findings are its own. It concludes that no single factor, whether sticker price, financing, insurance or household income, fully