A new Verisk analysis finds the national average motor vehicle report (MVR) fee has risen to $10.65 and increased more than 25 percent over the past decade.
These changes bring the number of states that charge $20 or more for MVRs to five, with 11 charging $15 or more.
In the first half of 2023 alone, we’ve seen MVR fee increases in five states:
- Effective January 1, Kentucky adjusted its rate from $5.50 per record to $6.00
- Effective July 1:
- Idaho moved from $9.00 per record to $10.00
- Illinois jumped from $12.00 per record to $20.00
- Pennsylvania increased fees from $14.00 per record to $16.00, and
- Oregon lifted the price from $13.17 per record to $13.99.
These changes bring the number of states that charge $20 or more for MVRs to five, with 11 charging $15 or more.
Recent Enhancements to Verisk Violation Risk Capabilities
Verisk’s LightSpeed® auto suite helps deliver the information needed for insurers to develop an accurate, bindable auto quote as early as the first rate call. MVRs are traditionally used to evaluate violation risk, but they are one of the most expensive components of auto insurance underwriting. Verisk’s full complement of driving history tools helps insurers, employers, and transportation companies manage risk and optimize these expenses. These tools leverage cost-efficient driving risk indicators to improve underwriting efficiency, boost conversion rates, and improve the consumer experience.
Additional enhancements:
- Verisk recently harnessed court records to add New Mexico to the growing list of states where a new business indicator of activity is available.
- Verisk now provides capabilities for ongoing tracking of driver violations in nearly every state.
- New driver monitoring capabilities, informed by court record data, have expanded into three new states: Kentucky, Massachusetts, and Mississippi.
Growing Public Records Capabilities
Verisk’s new Public Records Intelligence™ solution aggregates court and other public record data from more than 30,000 public data sources—delivering insights from more than 1.8 billion court records and 100 million crash records. With Verisk’s deep domain expertise in compliance and scalable technologies, this information can be streamlined into insurance-ready analytics, such as standardized violation codes, and used in automated workflows to improve efficiency and return on investment.
