Nevada, like most states, requires all drivers, including those who live in Las Vegas, to carry car insurance to operate a vehicle on state roadways. Car insurance rates in Las Vegas, Nevada, can vary between drivers depending on driving history and other personal details.
Nevada Insurance Requirements
Nevada law mandates that all drivers purchase a minimum amount of liability insurance. That means, according to ValuePenguin, when you buy an insurance policy, it should include the following:
- Bodily Injury Liability: $25,000 per person/$50,000 per accident
- Property Damage Liability: $20,000 per accident
Bodily injury liability coverage pays for the other driver’s medical care if you’re at fault in an accident. It will also cover your legal fees if the accident results in court proceedings. Property damage liability coverage pays for repairs to the other driver’s vehicle when you’re at fault in an accident. While a full-coverage policy costs more than a minimum-coverage policy, ValuePenguin recommends that you go with maximum coverage. With full coverage, your vehicle is also protected.
Insurify notes that Nevada drivers are required to carry proof of insurance at all times, and they have to provide it in the following situations:
- They’re involved in a traffic stop.
- They’re involved in a car accident.
- They’re renewing their vehicle registration.
How Much Does Car Insurance Cost in Las Vegas?
The Zebra reports that Las Vegas drivers pay, on average, $2640 a year for car insurance. That’s more than the statewide average of $1974 a year. It’s also higher than the nationwide average of $1548. There are several reasons why Las Vegas drivers pay more for car insurance than other Nevada drivers and drivers across the country. According to Insurify, those reasons include:
- A high percentage of male drivers. More than half of Las Vegas residents are male. The data shows that male drivers are responsible for more than 80 percent of car accidents.
- A high number of drivers on the road. Every day, more than 11,000 people commute to Las Vegas to work. That increases the traffic on Las Vegas roads by 3 percent. 32 million tourists visit the city every year, adding even more drivers to the roadways.
- A high number of auto thefts. The data shows that car theft is reported in Las Vegas at least once an hour. That puts Las Vegas high on the list of metro areas with auto theft rates.
- A high number of traffic fatalities. In 2019, the state of Nevada experienced 331 traffic fatalities, with the majority of those happening in Las Vegas.
What Factors Affect an Individual’s Car Insurance Rates?
When you’re shopping for car insurance, you could end up paying more or less than the average Las Vegas driver. That’s because insurance companies factor in your personal details when calculating your rates. ValuePenguin notes that the following will determine how much you pay for a policy:
- Your Age: Teen drivers pay more for car insurance than any other age group in Las Vegas. If you’re a teen driver in Las Vegas, you can expect your rates to drop as you enter your 20s. In fact, there’s a $7631 gap, on average, between what teen drivers pay for their insurance and what drivers in their 20s pay.
- Your Gender: Female drivers in Las Vegas can expect to pay up to $174 more a year for car insurance.
- Your Marital Status: Industry data shows that single drivers are more likely to file claims, which is why insurance providers charge them higher rates. Married drivers in Las Vegas can save up to $186 a year on their car insurance.
- Your Driving Record: One of the best ways to minimize your insurance rates is to maintain a clean driving record. If you have speeding tickets, DUIs, or at-fault accidents on your record, you’ll pay higher rates, especially for more severe violations.
- Your Credit Score: Your credit rating also has a significant impact on your car insurance rates. The insurance industry sees drivers with bad credit histories as less reliable, so they get charged higher rates. If you can improve your credit score from “Very Poor” to “Fair,” you can save up to $1515 a year. Moving up to the “Exceptional” tier can earn you a 55 percent discount.
Comparing Car Insurance Quotes for Las Vegas Drivers
One of the most effective ways to save money on your car insurance is to shop around for quotes until you find the best rate for the coverage you need. ValuePenguin gathered quotes for different groups of drivers to find the most affordable options. They found that the cheapest rates for minimum coverage, on average, are from the following providers:
- Progressive: $1295 a year
- State Farm: $1343 a year
- CSAA: $1723 a year
- American Family: $1829 a year
- GEICO: $2028 a year
- Allstate: $2386 a year
- Farmers: $3519 a year
If you’re looking for full coverage and you have a clean driving record, you can expect to pay the following, on average:
- State Farm: $2486 a year
- Progressive: $2771 a year
- American Family: $3739 a year
- GEICO: $3971 a year
- CSAA: $5417 a year
- Allstate: $5850 a year
- Farmers: $8102 a year
Younger drivers will pay more for full coverage, even if they have a clean driving record. Here are what younger Las Vegas drivers with clean driving records can expect to pay for a full-coverage policy:
- State Farm: $7855 a year
- GEICO: $8650 a year
- CSAA: $12,770 a year
- Progressive: $14,162 a year
- Farmers: $19,995 a year
- Allstate: $20,246 a year
- American Family: $21,096 a year
If you’re a member of the military or a veteran living in Las Vegas, you may want to consider purchasing a car insurance policy from USAA. While they offer some of the lowest rates in Las Vegas, they only provide policies to military members and their families. If you qualify for a USAA policy, you’ll pay, on average, $832 a year for minimum coverage and $1940 for full coverage. Young drivers who qualify for a policy with USAA can get full coverage for $4677 a year.
Check this out if you need additional information, resources, or guidance on car insurance.
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