How Much Do North Carolinians Spend on Insurance?

Nationwide, insurance costs, including those for life, health, auto and homeowners, equal about 7 percent of total household spending, according to the U.S. Department of Labor (see chart below). Those costs have increased less than 1.5 percent over the past decade, according to the Department.

Insurance and Other Consumer Expenditures As a Percent of Total Household Spending, 2004-2007 (1)   

	2004	2005	2006	2007
Housing	31.3	31.9	33.1	33.3
Transportation	15.8	16.0	15.7	15.5
Food	13.3	12.8	12.6	12.4
Other	10.3	10.4	10.6	10.2
Retirement	10.2	10.4	10.2	10.1
Total insurance	6.9	6.5	6.3	6.6
Health	3.1	2.9	3.0	3.1
Vehicle	2.2	2.0	1.8	2.2
Life	0.9	0.8	0.7	0.6
Homeowners	0.8	0.7	0.8	0.7
Other	0.1	0.1	0.1	0.1
Entertainment	5.1	5.1	4.9	4.9
Clothing	4.2	4.1	3.9	3.8
Health care	2.9	2.8	2.7	2.6

(1) Ranked by 2007 data.
Source: Insurance Information Institute, U.S. Department of Labor, Bureau of Labor Statistics.