Car insurance priced at $500 in 2013 $650.20 in 2020

Car Insurance Inflation Calculator

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Prices for Car Insurance, 2013-2020 ($500)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle insurance were 30.04% higher in 2020 versus 2013 (a $150.20 difference in value).

Between 2013 and 2020: Car insurance experienced an average inflation rate of 3.82% per year. This rate of change indicates significant inflation. In other words, car insurance costing $500 in the year 2013 would cost $650.20 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.50% during this same period, inflation for car insurance was higher.

In the year 2013: Pricing changed by 4.21%, which is above the average yearly change for car insurance during the 2013-2020 time period. Compared to inflation for all items in 2013 (1.46%), inflation for car insurance was higher.

Price Inflation for Motor vehicle insurance since 1985

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1986 (13.28%), 2002 (8.74%), and 1987 (8.28%).

Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Motor vehicle insurance:

Year 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
CPI 119.192 135.017 146.200 156.600 166.558 177.858 191.517 205.467 216.675 224.808 234.317 243.867 251.625 254.292 253.850 256.733 268.142 291.583 314.408 323.183 329.817 331.783 333.134 341.515 356.988 375.166 388.651 402.480 419.425 437.266 460.655 489.199 526.955 565.985 571.039 545.418

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Buying power of $500 since 2013

Below are calculations of equivalent buying power for Car insurance, over time, for $500 beginning in 2013. Each of the amounts below is equivalent in terms of what it could buy at the time:

Year USD Value Inflation Rate
2013 $500.00 4.21%
2014 $521.27 4.25%
2015 $549.15 5.35%
2016 $583.18 6.20%
2017 $628.19 7.72%
2018 $674.72 7.41%
2019 $680.74 0.89%
2020 $650.20 -4.49%*
* Not final. See inflation summary for latest details.

How to calculate the inflation rate for car insurance, 2013-2020

Start with the inflation rate formula:

CPI in 2020 / CPI in 2013 * 2013 USD value = 2020 USD value

Then plug in historical CPI values from above. The CPI for Motor vehicle insurance was 419.425 in the year 2013 and 545.418 in 2020:

545.418 / 419.425 * $500 = $650.20

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 2013 has the same "purchasing power" as $650.20 in 2020 (in the CPI category of Motor vehicle insurance).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Motor vehicle insurance in 1985. In addition to car insurance, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

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