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Millions of Illinois residents wake up to find that $2.6 billion of their medical debt has been eliminated
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The Insurance Research Council says several factors are associated with state-to-state differences, including economic conditions, insurance costs, and state insurance laws and regulations.
The result is a system in which uninsured driving can remain undetected until a collision occurs.
The NAIC reported that the countrywide average auto insurance expenditure was $1,281 in 2023, up 13.98% from the previous year.
Public revenues covered roughly 9% of all motor vehicle crash costs in 2019, amounting to about $30 billion, or $230 in added taxes for every U.S. household.
A driver may technically comply with state insurance requirements and still carry limits too low to cover serious injuries, medical bills, lost income, or long-term care.