10 trillion dollars for auto insurance

April 13, 2008at 11:51 am · Filed under Auto Insurance

10 trillion dollars for auto insurance

How much do we pay for auto insurance in the USA? Over 10 really 11 trillion dollars. Why so much? Because the US appetite for large SUVs and luxury cars is like a juggernaut that was no sign of ceasing. Look around you and see how many large cars there are. Even with the USA in a recession, its not like a recession in Eastern Europe or the way it use to be in the USA. The US has a cushion of wealth. Therefore, the expensive car market has been growing at a rate of 12 % a year for the last 5 years.

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