Spokane, Washington (AP) When you rent a car, you’re likely paying more than what the average American family pays.
That’s because the average annual rental price of a car is higher than what most Americans spend on a home or car insurance, a report from Axios shows.
The median annual rental of a 2016 Chevy Camaro, for instance, was $21,400.
The average American spends $23,400 annually on insurance, the report found.
The report said the typical American spends an average of $1,100 annually on a car insurance policy.
That’s less than what people in the median household spend annually on health insurance, which averages $4,000 annually, according to the National Association of Insurance Commissioners.
The study was based on survey data from more than 6,500 U.S. adults, who answered questions on topics including car insurance costs, car repairs, auto loan rates and the cost of car ownership.
The survey also looked at car rentals by city.
The highest-priced cities include Portland, Ore.; Phoenix; Denver; Chicago; Detroit; Los Angeles; Seattle; San Francisco; and Washington, D.C.
The lowest-priced, including New York, San Diego and Los Angeles, averaged $1.05 a month.
The cost of a new car is lower in most of the major cities than in some smaller towns, the study found.
In some cities, such as New York and Los Angles, the cost is lower because of lower car rental rates.
The National Association for Car Rental and Repair says it was founded in 1972 to help people who rent and repair cars.
It said the association was not affiliated with the insurance companies that collect and market the rates.
It said the study shows the affordability of car insurance has improved in recent years.
The association is now reviewing its data and is “looking at ways to increase affordability and promote responsible car ownership.”
The association’s president and CEO, Peter L. Boulud, said the findings are encouraging.
“In our view, we’re doing a better job of getting people insured and we are seeing that more and more people are getting involved in the industry,” Bouluds said in a telephone interview.
“I think the market is starting to see the benefits of that and I think that the economy is also beginning to see benefits.”
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The association said its members were responding to consumer demands for more affordable car insurance and that consumers are also increasingly looking for alternative ways to purchase and maintain their car.
For instance, the association said, consumers want to see an option that provides auto insurance and repairs at a reduced cost.
The average annual cost of insurance for a new 2016 Chevrolet Camaro is $22,200, the average cost of new car repairs is $2,200 and the average monthly cost of vehicle repairs is about $1 for a driver, according the association’s report.
The new cars that have a new-car insurance option are the most expensive vehicles, and those with a car rental option are less expensive than the average consumer, the group said.
The price difference between a new and used car is $3,000 to $4 in annual premiums and repairs, according.
The difference is even higher in cities, where the average price is closer to $5,000, the data showed.
The costs of driving a car are rising for everyone, including for people who have an auto insurance policy, the insurer said.
In 2016, an average driver with an auto policy paid about $15,000 more in auto insurance than they did five years ago.