Auto Insurance

The average cost of automobile insurance declined by 1.7 percent in 2006, according to a November 2008 report from the National Association of Insurance Commissioners (NAIC). The District of Columbia had the highest average expenditure ($1,164), followed by New Jersey ($1,152), Louisiana ($1,094), New York ($1,083) and Florida ($1,069).

AVERAGE EXPENDITURES FOR AUTO INSURANCE, UNITED STATES, 1997-2006


Year Average expenditure Percent change Year Average expenditure Percent change
1997 $705 2.0% 2002 $786 8.3%
1998 703 -0.3 2003 830 5.6
1999 685 -2.6 2004 842 1.4
2000 690 0.7 2005 831 -1.3
2001 726 5.2 2006 817 -1.7
Source: © 2007 National Association of Insurance Commissioners.

TOP TEN MOST EXPENSIVE AND LEAST EXPENSIVE STATES FOR AUTOMOBILE INSURANCE, 2006 (1)


Rank Most expensive states Average expenditure Rank Least expensive states Average expenditure
1 D.C. $1,164 1 North Dakota $530
2 New Jersey 1,152 2 Iowa 536
3 Louisiana 1,094 3 South Dakota 554
4 New York 1,083 4 Idaho 577
5 Florida 1,069 5 Kansas 579
6 Massachusetts 1,042 6 Nebraska 584
7 Rhode Island 1,038 7 Wisconsin 590
8 Delaware 1,024 8 North Carolina 596
9 Nevada 1,006 9 Indiana 631
10 Connecticut 981 10 Maine 634
(1) Based on average automobile insurance expenditures.

Source: © 2008 National Association of Insurance Commissioners.

AUTO INSURANCE EXPENDITURES, BY STATE

The table on the following pages shows estimated average expenditures for private passenger automobile insurance by state for 2002 to 2006, providing approximate measures of the relative cost of automobile insurance to consumers in each state. To calculate average expenditures the National Association of Insurance Commissioners assumes that all insured vehicles carry liability coverage but not necessarily collision or comprehensive coverage. The average expenditure measures what consumers actually spend for insurance on each vehicle. It does not equal the sum of liability, collision and comprehensive expenditures because not all policyholders purchase all three coverages.

Expenditures are affected by the coverages purchased as well as other factors. In states where the economy is healthy, people are more likely to purchase new cars. Since new car owners are more likely to purchase physical damage coverages, these states will have a higher average expenditure. The NAIC notes that urban population, traffic density and per capita income have a significant impact on premiums. The latest report shows that high premium states tend also to be highly urban, with higher wage and price levels and greater traffic density. Tort liability and other auto laws, labor costs, liability coverage requirements, theft rates and other factors can also affect auto insurance prices.\

AVERAGE EXPENDITURES FOR AUTO INSURANCE BY STATE, 2005-2006


2006 2005
State Liability Collision Compre-
hensive Average expenditure Rank (1) Average expenditure Rank Average expenditure percent change 2005-2006
Alabama $367 $318 $135 $684 35 $679 37 0.7%
Alaska 596 381 158 955 11 968 11 -1.3
Arizona 507 310 231 913 14 929 14 -1.7
Arkansas 387 291 161 684 34 694 34 -1.4
California (2) 483 376 118 843 16 842 19 0.2
Colorado 453 281 188 785 23 829 21 -5.3
Connecticut 621 335 125 981 10 993 9 -1.2
Delaware 706 298 111 1,024 8 1,028 8 -0.3
D.C. 610 445 261 1,164 1 1,187 1 -2.0
Florida 752 287 113 1,069 5 1,064 6 0.5
Georgia 424 372 169 788 22 785 24 0.4
Hawaii 542 309 117 853 15 846 18 0.8
Idaho 339 232 125 577 48 585 48 -1.4
Illinois 410 296 118 740 27 743 28 -0.4
Indiana 361 253 111 631 43 658 41 -4.0
Iowa 282 199 163 536 50 555 50 -3.6
Kansas 300 235 198 579 47 589 47 -1.7
Kentucky 484 266 132 739 28 751 26 -1.5
Louisiana 660 386 209 1,094 3 1,078 5 1.5
Maine 362 270 106 634 42 644 42 -1.6
Maryland 564 326 146 949 12 948 12 0.1
Massachusetts 670 327 127 1,042 6 1,113 4 -6.4
Michigan 494 415 158 925 13 931 13 -0.6
Minnesota 446 224 173 753 25 792 23 -4.9
Mississippi 430 294 165 746 26 746 27 0.0
Missouri 379 262 146 673 36 685 36 -1.8
Montana 399 241 197 661 37 686 35 -3.7
Nebraska 327 213 189 584 46 619 44 -5.7
Nevada 651 344 142 1,006 9 985 10 2.1
New Hampshire 435 300 109 793 21 792 22 0.2
New Jersey 747 378 160 1,152 2 1,185 2 -2.8
New Mexico 457 292 165 737 29 731 30 0.8
New York 730 331 153 1,083 4 1,125 3 -3.7
North Carolina 342 251 121 596 44 602 46 -1.0
North Dakota 255 196 238 530 51 555 51 -4.4
Ohio 382 252 104 654 39 670 39 -2.3
Oklahoma 384 271 169 659 38 678 38 -2.9
Oregon 483 226 103 726 30 738 29 -1.7
Pennsylvania 499 309 125 832 18 850 17 -2.1
Rhode Island 695 377 125 1,038 7 1,062 7 -2.2
South Carolina 471 255 149 756 24 754 25 0.3
South Dakota 296 200 202 554 49 566 49 -2.2
Tennessee 363 293 123 654 40 659 40 -0.8
Texas 454 349 175 820 20 857 16 -4.3
Utah 424 266 120 702 31 707 31 -0.7
Vermont 361 298 129 687 32 700 32 -1.8
Virginia 395 264 118 685 33 700 33 -2.1
Washington 543 260 127 839 17 842 20 -0.3
West Virginia 510 297 180 827 19 859 15 -3.7
Wisconsin 331 204 123 590 45 615 45 -4.1
Wyoming 334 261 216 639 41 640 43 -0.2
United States $489 $308 $140 $817 $831 -1.7%
(1) Ranked by average expenditure.
(2) Preliminary.

Note: Average expenditure=Total written premium/liability car years. A car year is equal to 365 days of insured coverage for a single vehicle. The NAIC does not rank state average expenditures and does not endorse any conclusion drawn from these data.

Source: © 2008 National Association of Insurance Commissioners.

AVERAGE EXPENDITURES FOR AUTO INSURANCE BY STATE, 2002-2004


Average expenditure (1)
State 2004 2003 2002
Alabama $677 $657 $627
Alaska 974 938 884
Arizona 931 921 887
Arkansas 708 698 672
California (2) 846 837 779
Colorado 850 923 921
Connecticut 991 988 970
Delaware 1,022 977 900
D.C. 1,185 1,135 1,044
Florida 1,062 1,018 934
Georgia 779 759 739
Hawaii 817 776 739
Idaho 590 586 563
Illinois 760 762 729
Indiana 671 671 648
Iowa 580 581 548
Kansas 603 611 587
Kentucky 758 739 688
Louisiana 1,062 1,015 928
Maine 650 633 587
Maryland 947 893 840
Massachusetts 1,113 1,052 984
Michigan 980 950 887
Minnesota 829 837 801
Mississippi 749 710 681
Missouri 702 702 669
Montana 683 675 628
Nebraska 637 624 590
Nevada 939 914 896
New Hampshire 798 779 733
New Jersey 1,221 1,193 1,125
New Mexico 728 732 706
New York 1,172 1,168 1,100
North Carolina 597 605 588
North Dakota 562 537 505
Ohio 680 672 642
Oklahoma 690 689 654
Oregon 753 736 682
Pennsylvania 843 813 777
Rhode Island 1,034 997 939
South Carolina 763 745 703
South Dakota 587 564 542
Tennessee 666 650 632
Texas 880 918 864
Utah 722 733 703
Vermont 693 683 650
Virginia 702 658 626
Washington 839 825 791
West Virginia 875 844 778
Wisconsin 636 621 611
Wyoming 629 618 585
United States $842 $830 $786
(1) Average expenditure=Total written premium/liability car years. A car year is equal to 365 days of insured coverage for a single vehicle.
(2) Preliminary.

Source: © 2008 National Association of Insurance Commissioners.

TOP FIVE MOST EXPENSIVE AND LEAST EXPENSIVE CITIES FOR AUTOMOBILE INSURANCE, 2007 (1)



Rank Most expensive cities Average annual auto premiums Rank Least expensive cities Average annual auto premiums
1 Detroit, MI $5,072 1 Eau Claire, WI $869
2 Philadelphia, PA 3,779 2 Norfolk, VA 954
3 Newark, NJ 3,381 3 Raleigh, NC 966
4 Los Angeles, CA 3,027 4 Bismarck, ND 989
5 Hempstead, NY 2,764 5 Burlington, VT 1,001

(1) As of June 2007. Assumes $100,000/$300,000/$50,000 liability limits, collision and comprehensive with $500 deductibles, and $100,000/$300,000 uninsured coverage.

Source: Runzheimer International.

TOP TEN WRITERS OF PRIVATE PASSENGER AUTO INSURANCE BY DIRECT PREMIUMS WRITTEN, 2008

($000)

Rank Group Direct premiums written (1) Market share
1 State Farm Group $30,055,729 18.3%
2 Allstate Insurance Group 17,691,133 10.8
3 Berkshire Hathaway Insurance Group 12,516,814 7.6
4 Progressive Group 11,678,759 7.1
5 Zurich Insurance Group 8,884,495 5.4
6 Nationwide Group 7,590,425 4.6
7 Liberty Mutual Insurance Group 7,230,959 4.4
8 USAA Group 6,251,046 3.8
9 American International Group 4,445,702 2.7
10 American Family Insurance Group 3,440,816 2.1

(1) Before reinsurance transactions, excluding state funds.

Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.

WHERE THE PREMIUM DOLLAR GOES,PRIVATE PASSENGER AUTO INSURANCE, 2007


PREMIUMS EARNED: $100
CLAIMS:
Payments to injured persons:
Medical $9
Wage loss and other economic payments 2
Pain and suffering and other noneconomic awards 5
Lawyers’ fees 11
Costs of settling claims 2
Subtotal $29

Payments for damage to cars (1):
Property damage liability $17
Collision claims 16
Comprehensive claims 7
Costs of settling claims 1
Subtotal $41
Total claims $70

EXPENSES:
Commissions and other selling expenses $17
General expenses (costs of company operations) 6
State premium taxes, licenses and fees 2
Dividends to policyholders 1
Total expenses $26

Claims and expense total $96

BOTTOM LINE:
Investment gain (2) $9
Pretax income ($100 - $96 + $9) 13
Tax -5
Income after taxes $8

(1) Includes theft and damage to other property, e.g., road signs.
(2) Includes interest, dividends, and realized capital gains.

Source: Insurance Information Institute estimate based on data from ISO; National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.; Insurance Research Council; A.M. Best Company, Inc.


* In 2007 claims accounted for $70 of every $100 earned in private passenger auto insurance premiums in the United States.
* Lawyers’ fees accounted for $11 out of every $100 in premiums. Half of the fees went to plaintiffs’ attorneys and the remainder to defendants’ attorneys.
* Theft accounted for about 25 percent of the dollars that go to pay comprehensive claims, or slightly less than 2 percent of premiums earned for private passenger auto insurance.
Where The Revenue Dollar Goes, 2007
(Premiums and investments)
Where The Revenue Dollar Goes, 2007

PRIVATE PASSENGER AUTO INSURANCE LOSSES, 1999-2008 (1)


Liability
Bodily injury (2) Property damage (3)
Year Claim
frequency (4) Claim
severity (5), (6) Claim
frequency (4) Claim
severity (5)
1999 1.23 9,646 4.00 2,294
2000 1.20 9,807 3.98 2,393
2001 1.16 10,149 3.97 2,471
2002 1.15 10,400 3.92 2,552
2003 1.12 11,135 3.84 2,558
2004 1.11 11,613 3.76 2,582
2005 1.07 11,983 3.63 2,657
2006 1.02 12,426 3.44 2,783
2007 0.95 12,712 3.48 2,830
2008 0.96 13,533 3.45 2,889

Physical damage (7)
Collision Comprehensive (8)
Year Claim
requency (4) Claim
severity (5) Claim
frequency (4) Claim
severity (5)
1999 5.73 2,352 2.80 1,116
2000 5.61 2,480 2.89 1,125
2001 5.53 2,525 3.11 1,152
2002 5.48 2,728 2.91 1,250
2003 5.13 2,921 2.76 1,324
2004 4.85 3,080 2.46 1,417
2005 5.04 3,067 2.38 1,457
2006 4.87 3,194 2.40 1,528
2007 5.13 3,139 2.47 1,519
2008 5.34 3,004 2.57 1,549

(1) For all limits combined. Data are for paid claims.
(2) Excludes Massachusetts and most states with no-fault automobile insurance laws.
(3) Excludes Massachusetts, Michigan and New Jersey.
(4) Claim frequency is claims per 100 earned car years. A car year is equal to 365 days of insured coverage for a single vehicle.
(5) Claim severity is the size of the loss, measured by the average amount paid for each claim.
(6) Includes loss adjustment expenses.
(7) Excludes Massachusetts, Michigan and New Jersey. Based on coverage with a $500 deductible.
(8) Excludes wind and water losses.

Source: ISO.


* From 1999 to 2008, claim frequency fell 22.0 percent for bodily injury liability claims and 13.7 percent for property damage liability claims.
* Claim severity (average claim) for liability coverages rose 40.3 percent for bodily injury claims and 25.9 percent for property damage claims from 1999 to 2008.

















*
Claim frequency fell 6.8 percent for collision coverage and 8.2 percent for comprehensive coverage from 1999 to 2008.
* Claim severity increased 27.7 percent for collision coverages and 38.8 percent for comprehensive coverage from 1999 to 2008.


INCURRED LOSSES FOR AUTO INSURANCE, 2003-2007 (1)

($000)

2003 2004 2005 2006 2007
Private passenger liability $56,713,153 $56,317,831 $57,188,070 $56,042,440 $59,776,204
Private passenger physical damage 35,414,529 34,239,353 36,762,455 36,151,909 37,523,529
Commercial auto liability 10,666,889 10,809,661 10,373,070 10,746,525 10,091,916
Commercial auto physical damage 3,365,218 3,355,650 3,508,189 3,583,772 3,523,621
Total $106,159,789 $104,722,495 $107,831,784 $106,524,646 $110,915,270
(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, on a direct basis before reinsurance.



Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.

THE SHARED/RESIDUAL MARKET AND NONSTANDARD MARKETS

All states and the District of Columbia use special systems to guarantee that auto insurance is available to those who cannot obtain it in the private market. Each type of system is commonly known as an assigned risk plan, although that term technically applies to only one type of plan. The assigned risk and other plans are known in the insurance industry as the shared, or residual, market. Policyholders in assigned risk plans are assigned to various insurance companies doing business in the state. In the voluntary, or regular, market, auto insurers are free to select policyholders.

The percentage of vehicles insured in the shared market is dropping, in part because of the evolution of the nonstandard sector of the voluntary market. The nonstandard market is a niche market for drivers who have a worse than average driving record or drive specialized cars such as high-powered sports cars and custom-built cars. It is made up of both small specialty companies, whose only business is the nonstandard market, and well-known auto insurance companies with nonstandard divisions.

Until the mid-1960s, most drivers who did not meet an insurance company’s “standard” or “preferred risk” underwriting criteria could only find coverage in the shared market, where prices are generally much higher and insurers pool or share the profits and losses. With advancements in computer technology that made it easier to set appropriate prices for smaller and smaller risk categories, some insurers began to specialize in insuring drivers with marginally bad driving records. By the late 1990s the nonstandard market accounted for about one-fifth of the total private passenger auto insurance market. This has held steady. A 2008 Conning study found that in 2006 auto insurers specializing in nonstandard private passenger auto insurance had direct premiums written of $36.9 billion, representing 22 percent of the total private passenger auto insurance market.

PRIVATE PASSENGER CARS INSURED IN SHARED MARKETS AND VOLUNTARY MARKETS, 2007


State Voluntary Shared
market Total Shared market as
a percent of total
Alabama 3,263,498 10 3,263,508 (1)
Alaska 424,290 252 424,542 0.059%
Arizona 4,063,514 49 4,063,563 0.001
Arkansas 2,028,273 1 2,028,274 (1)
California 24,187,996 11,915 24,199,911 0.049
Colorado 3,588,408 3 3,588,411 (1)
Connecticut 2,421,935 958 2,422,893 0.040
Delaware 605,226 84 605,310 0.014
D.C. 223,379 943 224,322 0.420
Florida 11,250,398 21 11,250,419 (1)
Georgia 6,694,814 2 6,694,816 (1)
Hawaii 786,973 5,003 791,976 0.632
Idaho 1,187,889 51 1,187,940 0.004
Illinois 7,780,889 1,853 7,782,742 0.024
Indiana 4,370,136 5 4,370,141 (1)
Iowa 2,383,327 13 2,383,340 0.001
Kansas 2,324,407 1,477 2,325,884 0.064
Kentucky 2,970,884 281 2,971,165 0.009
Louisiana 2,787,136 38 2,787,174 0.001
Maine 1,022,473 58 1,022,531 0.006
Maryland 3,770,632 76,658 3,847,290 1.993
Massachusetts 3,999,112 177,402 4,176,514 4.248
Michigan 6,217,059 1,766 6,218,825 0.028
Minnesota 3,703,118 4 3,703,122 (1)
Mississippi 1,998,203 78 1,998,281 0.004
Missouri 4,151,162 85 4,151,247 0.002
Montana 772,037 265 772,302 0.034
Nebraska 1,492,287 8 1,492,295 0.001
Nevada 1,754,997 29 1,755,026 0.002
New Hampshire 891,794 835 892,629 0.094
New Jersey 5,244,074 26,902 5,270,976 0.510
New Mexico 1,415,853 56 1,415,909 0.004
New York 9,154,980 112,518 9,267,498 1.214
North Carolina 5,470,099 1,506,510 6,976,609 21.594
North Dakota 580,287 3 580,290 0.001
Ohio 8,009,267 0 8,009,267 (1)
Oklahoma 2,713,011 87 2,713,098 0.003
Oregon 2,690,660 21 2,690,681 0.001
Pennsylvania 8,453,793 26,103 8,479,896 0.308
Rhode Island 657,417 17,203 674,620 2.550
South Carolina 3,233,090 1 3,233,091 (1)
South Dakota 664,233 0 664,233 (1)
Tennessee 4,149,908 38 4,149,946 0.001
Texas NA NA NA NA
Utah 1,764,823 -1 (2) 1,764,822 (1)
Vermont 473,219 754 473,973 0.159
Virginia 5,961,143 2,238 5,963,381 0.038
Washington 4,429,429 2 4,429,431 (1)
West Virginia 1,289,984 90 1,290,074 0.007
Wisconsin 3,664,374 1 3,664,375 (1)
Wyoming 490,907 0 490,907 (1)
United States 183,626,797 1,972,673 185,599,470 1.063%

(1) Less than 0.001 percent.
(2) Negative numbers represent vehicles owned by drivers who were rejected or cancelled.

NA=Data not available.

Source: Automobile Insurance Plans Service Office.

COLLISION LOSSES

The chart below shows the claim frequency, average loss payment per claim and average loss payment per insured vehicle year under collision coverage for recent model vehicles. The last item factors in both claim frequency and the average loss payment per claim. This combination is a measurement of overall insurance losses.

The claim frequency is expressed as a rate per 100 insured vehicle years. A vehicle year is equal to 365 days of insurance coverage for a single vehicle.

COLLISION COVERAGE INSURANCE LOSSES IN YEARS SINCE INTRODUCTION, 2005-2007 MODEL YEAR PASSENGER VEHICLES


2005 2006 2007 2005-2007
Claim frequency per 100 insured vehicle years
Passenger cars and minivans 7.9 8.4 8.4 8.1
Pickups 5.7 6.2 6.2 5.9
Sport-utility vehicles 5.9 6.2 6.2 6.0
All passenger vehicles 7.0 7.5 7.5 7.2
Average loss payment per claim
Passenger cars and minivans $3,984 $4,135 $4,172 $4,049
Pickups 4,469 4,522 4,552 4,493
Sport-utility vehicles 3,913 3,795 3,639 3,851
All passenger vehicles 4,026 4,116 4,075 4,059
Average loss payment per insured vehicle year
Passenger cars and minivans $315 $346 $351 $328
Pickups 253 279 282 263
Sport-utility vehicles 231 235 227 232
All passenger vehicles 283 308 307 293
Source: Highway Loss Data Institute.

CONSUMER PRICES

The Bureau of Labor Statistics's consumer price index (CPI) tracks changes in the prices paid by consumers for a representative "basket" of goods and services. The index shows that the cost of auto insurance increased 2.5 percent in 2008, after increasing by less than 1 percent in 2006 and 2007.

CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 1999-2008

(Base: 1982-84=100)

Cost of living
(all items) Motor vehicle insurance Medical care items Physicians’ services Hospital services (1)
Year Index Percent change Index Percent change Index Percent change Index Percent change Index Percent change
1999 166.6 2.2% 253.8 -0.2% 250.6 3.5% 236.0 2.8% 109.3 4.1%
2000 172.2 3.4 256.7 1.1 260.8 4.1 244.7 3.7 115.9 6.0
2001 177.1 2.8 268.1 4.4 272.8 4.6 253.6 3.6 123.6 6.6
2002 179.9 1.6 291.6 8.8 285.6 4.7 260.6 2.8 134.7 9.0
2003 184.0 2.3 314.4 7.8 297.1 4.0 267.7 2.7 144.7 7.4
2004 188.9 2.7 323.2 2.8 310.1 4.4 278.3 4.0 153.4 6.0
2005 195.3 3.4 329.9 2.1 323.2 4.2 287.5 3.3 161.6 5.3
2006 201.6 3.2 331.8 0.6 336.2 4.0 291.9 1.5 172.1 6.5
2007 207.3 2.8 333.1 0.4 351.1 4.4 303.2 3.9 183.6 6.7
2008 215.3 3.8 341.5 2.5 364.1 3.7 311.3 2.7 197.2 7.4
Percent change
1999-2008 29.2% 34.6% 45.3% 31.9% 80.4%

(table continues below)

CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 1999-2008

(Base: 1982-84=100)

Cost of living
(all items) Motor vehicle insurance Medical care items Physicians’ services Hospital services (1)
Year Index Percent change Index Percent change Index Percent change Index Percent change Index Percent change
1999 166.6 2.2% 253.8 -0.2% 250.6 3.5% 236.0 2.8% 109.3 4.1%
2000 172.2 3.4 256.7 1.1 260.8 4.1 244.7 3.7 115.9 6.0
2001 177.1 2.8 268.1 4.4 272.8 4.6 253.6 3.6 123.6 6.6
2002 179.9 1.6 291.6 8.8 285.6 4.7 260.6 2.8 134.7 9.0
2003 184.0 2.3 314.4 7.8 297.1 4.0 267.7 2.7 144.7 7.4
2004 188.9 2.7 323.2 2.8 310.1 4.4 278.3 4.0 153.4 6.0
2005 195.3 3.4 329.9 2.1 323.2 4.2 287.5 3.3 161.6 5.3
2006 201.6 3.2 331.8 0.6 336.2 4.0 291.9 1.5 172.1 6.5
2007 207.3 2.8 333.1 0.4 351.1 4.4 303.2 3.9 183.6 6.7
2008 215.3 3.8 341.5 2.5 364.1 3.7 311.3 2.7 197.2 7.4
Percent change
1999-2008 29.2% 34.6% 45.3% 31.9% 80.4%

(table continues below)

CONSUMER PRICE INDICES FOR INSURANCE AND RELATED ITEMS AND ANNUAL RATES OF CHANGE, 1999-2008 (Cont’d)

(Base: 1982-84=100)

Used cars and trucks Tenants and household insurance (5), (6) Repair of household items (5), (7) Legal services Existing single-family homes
Year Index Percent change Index Percent change Index Percent change Index Percent change Median price
($000) Percent change
1999 152.0 0.9% 101.3 1.5% 107.2 5.3% 180.0 4.8% $138 3.9%
2000 155.8 2.5 103.7 2.4 111.6 4.1 189.3 5.2 144 4.1
2001 158.7 1.9 106.2 2.4 119.4 7.0 199.5 5.4 153 6.6
2002 152.0 -4.2 108.7 2.4 125.1 4.8 211.1 5.8 165 7.8
2003 142.9 -6.0 114.8 5.6 131.0 4.7 221.7 5.0 179 8.4
2004 133.3 -6.7 116.2 1.2 139.4 6.4 232.3 4.8 195 9.3
2005 139.4 4.6 117.6 1.2 147.4 5.7 241.8 4.1 220 12.4
2006 140.0 0.4 116.5 -0.9 154.7 5.0 250.0 3.4 222 1.0
2007 135.7 -3.1 117.0 0.4 161.2 4.2 260.3 4.1 218 -1.8
2008 134.0 -1.3 118.8 1.6 170.0 5.5 270.7 4.0 197 -9.6
Percent change
1999-2008 11.9% 17.3% 58.6% 50.4% 42.8%
(1) December 1996=100.
(2) December 2005=100.
(3) December 1983=100.
(4) 2006-2008. (5) December 1997=100.
(6) Only includes insurance covering rental properties.
(7) Includes appliances, reupholstery and inside home maintenance.

NA=Data not available.

Note: Percent changes after 2007 for consumer price indices calculated from unrounded data.

Source: U.S. Department of Labor, Bureau of Labor Statistics; National Association of Realtors.