Car insurance priced at $500 in 1985 $3,515.98 in 2024

Car Insurance Inflation Calculator

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Prices for Car Insurance, 1985-2024 ($500)

According to the U.S. Bureau of Labor Statistics, prices for motor vehicle insurance are 603.20% higher in 2024 versus 1985 (a $3,015.98 difference in value).

Between 1985 and 2024: Car insurance experienced an average inflation rate of 5.13% per year. This rate of change indicates significant inflation. In other words, car insurance costing $500 in the year 1985 would cost $3,515.98 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.78% during this same period, inflation for car insurance was higher.

In the year 1985: Pricing changed by 10.18%, which is significantly above the average yearly change for car insurance during the 1985-2024 time period. Compared to inflation for all items in 1985 (3.55%), inflation for car insurance was much higher.

Price Inflation for Motor vehicle insurance since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1976 (28.83%), 1948 (20.68%), and 1952 (19.56%).

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Buying power of $500.00 since 1985

Below are calculations of equivalent buying power for Car insurance, over time, for $500 beginning in 1985. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1985$500.0010.18%
1986$566.4013.28%
1987$613.348.29%
1988$656.807.09%
1989$698.596.36%
1990$746.056.79%
1991$803.287.67%
1992$861.847.29%
1993$908.855.45%
1994$942.923.75%
1995$982.714.22%
1996$1,022.814.08%
1997$1,055.303.18%
1998$1,066.561.07%
1999$1,064.66-0.18%
2000$1,076.791.14%
2001$1,124.674.45%
2002$1,223.018.74%
2003$1,318.877.84%
2004$1,355.582.78%
2005$1,383.532.06%
2006$1,391.590.58%
2007$1,397.320.41%
2008$1,432.462.51%
2009$1,497.384.53%
2010$1,573.645.09%
2011$1,630.163.59%
2012$1,688.133.56%
2013$1,759.114.20%
2014$1,833.854.25%
2015$1,931.975.35%
2016$2,051.676.20%
2017$2,210.067.72%
2018$2,373.837.41%
2019$2,395.110.90%
2020$2,284.39-4.62%
2021$2,371.133.80%
2022$2,557.897.88%
2023$3,003.1817.41%
2024$3,515.9817.08%*

* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.


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

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI8.9008.9008.9008.9008.9008.8009.0009.9009.0008.7008.70010.40011.73314.16015.74014.62015.34018.34020.54020.34019.44019.00020.78023.70025.16025.74025.94025.70026.22027.66730.40032.36033.22034.00036.94642.01546.77746.59245.77745.80048.36962.31569.80871.84675.81582.02385.90891.431100.362108.192119.208135.038146.231156.592166.554177.869191.515205.477216.685224.808234.292243.854251.600254.285253.831256.723268.138291.585314.438323.192329.854331.777333.143341.519356.997375.180388.655402.476419.400437.219460.611489.149526.911565.957571.032544.633565.313609.840716.004838.263

Adjust car insurance prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1985 * 1985 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Motor vehicle insurance was 119.208 in the year 1985 and 838.263 in 2024:

838.263 / 119.208 * $500 = $3,515.98

Therefore, according to U.S. Bureau of Labor Statistics, $500 in 1985 has the same "purchasing power" as $3,515.98 in 2024 (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 1935. 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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