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How Auto Insurance Compares

Written by Michele Wilmonen. Posted in Research Last Updated: 11/06/2014

You may be surprised to learn that auto insurance doesn’t account for as much of your expenses as you think.

It is no secret that people don’t like paying for car insurance.  They are forced to purchase it, and unless they get into an accident it’s something that is paid for but is never used.

In the past we have talked extensively about how important it is to have car insurance, so we won’t cover that again today. Instead, we found this interesting graphic from Answer Financial that shows just how much of your income that auto insurance really uses, compared to other expenses in your life.

Yes, the numbers are from 2010, but the comparison still holds true today.

how auto insurance compares


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Michele Wilmonen

Michele's first introduction to insurance was working for a major insurance company as a file clerk and a mailroom supervisor in a regional office. She learned insurance directly from underwriters and claims adjusters from questions and also watching them do their job. Since then, she's earned a number of insurance certifications from the Insurance Institute of America and also a Bachelor’s degree from the University of Idaho. She blogs at Car Insurance Guidebook.

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  • jonelle


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