Is car insurance expensive in Nevada?
I love Las Vegas so much that I’m moving there! But from what I hear, car insurance can be rather pricey. I’m a little concerned I may have bitten off more than I can chew. So, is car insurance expensive in Nevada?
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Answer provided by
Jason Tushinski
Answered on May 18, 2022
We here at Jerry are all for following your heart, so congrats on your move to Vegas! While we don’t want to burst your bubble, we’re holding a very large, sharp pin, and we’re going to use it.
Yes, car insurance is very expensive in Nevada. Residents pay an average of $2,403 per year for full coverage, compared to an average of around $2,000 for full coverage nationwide.
Why is car insurance so expensive in Nevada? There are a few reasons:
- Nevada has more relaxed alcohol laws than many states, as there are no legally enforced closing hours for establishments serving alcohol. More time to drink means the risk of car-related accidents increases.
- In case you hadn’t noticed, Sin City is a party town. This leads to more egregious behavior, including people who are intoxicated getting behind the wheel, thus increasing the risk of accidents. Insurers raise rates to counter this risk, as they expect to deal with more claims than they would elsewhere.
- Nevada is growing, and with more drivers on the road, more accidents are expected. So, insurers raise rates in anticipation of more claims
- More than 10% of Nevada drivers have no insurance, which raises risks for insurers. They compensate for this risk by passing it on to drivers with higher premiums.
- In the Silver State, medical bills are steadily rising, which puts more pressure on insurers, as they pay a huge amount to settle medical bills for policyholders. Surprise, surprise—providers raise rates to compensate for this.
- Nevada is experiencing more than its share of severe weather, including droughts and wildfires, which can damage property like cars. These events also bring the element of unpredictability, so insurers raise rates to counter potential increased risks.
So, when you pick up and move to Sin City, protect your vehicle and yourself with a robust car insurance policy by using Jerry! Sign-up takes just 45 seconds, and the average Jerry user saves more than $800 per year on car insurance.
MORE: Nevada DUI laws
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