Vehicle insurance expenditures
1990
Scoon, L.M.
Vehicle insurance expenditures have received much public attention because of ever increasing costs. Between 1983 and 1988 vehicle insurance prices rose three times faster than the overall inflation rate. Three in four households reported vehicle insurance expenditures in the 1985 Consumer Expenditure Survey; average expenditure was $546. Households exceeding this average by $100 or more were most likely to have income over $40,000, own four or more vehicles, live in the Northeast or West, or were headed by persons between 45 and 54 years of age or with more than 4 years of college. Households most likely to own uninsured vehicles had either income under $10,000 or a household head under 25 years of age.
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