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Automobile Insurance in Central PA

Automobile Insurance in Central PA
June 2016
Category: Business

 
As drivers and vehicle owners/operators, auto insurance is an important factor in our lives because it is what protects us from financial loss if we are in an accident or if our vehicle is in some way damaged, or even stolen. In the United States today, roughly 86% of households have auto insurance. According to research from AutoInsurance.org, this percentage tends to fluctuate with the economy. They claim that despite many states having tough regulations on driving without insurance, during hard-times in the economy people are more likely to drop insurance or lessen their insurance in order to help make ends meet. Below are some statistics we have compiled for Central Pennsylvania households and auto insurance.
 
households with auto insurance in central pennsylvania
In 2015, it was estimated that approximately 83.6% of households in Central Pennsylvania had some type of auto insurance. That means that about 1 out of every 6 households in the region do not have insurance on their vehicles. In 2015, Central PA did see an increase in the total number of households and the overall percentage of households with auto insurance, however there has been a slowly declining trend in the region since 2008. From 2008 to 2015, there was a -1.8% change in households with insurance with an average annual decrease of about -.03%. In 2008, about 84.3% of the region's households had some type of auto insurance. In 2015, that percentage decreased to 83.6%.
 
Number of households with vehicle insurance vs percentage of households with vehicle insurance in Central PA
 
 The chart above displays the number of households with insurance versus the percentage of households with insurance in Central Pennsylvania from 2008 to 2015. The blue bars represent the total number of households (axis to the left) and the red line represents the percentage of households (axis to the right). An interesting observation from this chart is that while in 2015, the number and percentage of households with vehicle insurance increased over 2014, there has been a downward trend in both (number and percentage of households) since 2008.

vehicle insurance spending in central pa
While the overall number of households with vehicle insurance in the region has declined some since 2008, the amount of spending on auto insurance has increased. In 2008, total spending amounted to approximately $872.1 million. That number increased 12.8% to $983.4 million in 2015. The typical yearly payment for auto insurance per household in 2008 was $1,143.61 ($95.30 per month). In 2015, the yearly payment per household was $1,313.55 ($109.46 per month).
 
Total vehicle insurance spending in 2015 by Central PA Counties
 
The chart above displays the total dollar amount of spending on vehicle related insurance in each of the Central Pennsylvania counties during the year 2015. Lancaster County, York County, and Berks County have the highest spending in this category throughout the region. On a per household basis for insurance spending per year, Adams County tops the list ($1,112/year) followed by Cumberland County ($1,100/year) and York County ($1,100/year).

Average vehicle insurance payment per household per month
 The chart above shows the average monthly payment per household in Central Pennsylvania for vehicle insurance. This chart is based on the total dollar volume being spent per year on vehicle insurance in the region and the total number of households who have some type of vehicle insurance.  

additional auto insurance facts for central pa in 2015
  • 50.8% of households have Uninsured Motorist coverage
  • 59.4% of households have Comprehensive insurance coverage
  • 69.6% of households carry Collision insurance coverage
  • 45.6% of households have coverage for Medical Payments
  • 70.3% of households carry Liability insurance for Bodily Injuries
  • 64.3% of households have Liability insurance for Property Damage  

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