We know that buying car insurance is a necessary evil. You don’t want to pay too much, but you also don’t want to find yourself in a situation where your insurance company won’t pay out if you need it.
That’s why we’re here to tell you about Nevada car insurance statistics you need to know when getting a quote for your car. By knowing what these statistics involve, you can get a better idea of how much you should pay for your coverage.
Let’s get started!
Nevada Car Insurance Rates Compared to National Rates
Nevada is the 16th least expensive auto insurance state in the United States. The annual average insurance rate is $1341, which is around $150 less than the national average. That’s pretty sweet, right?
Insurance Premiums in Las Vegas
The Las Vegas annual average insurance rate is $1869, which is higher than any other city in the state (Las Vegas and North Las Vegas are the two most expensive zip codes).
Insurance premiums will skyrocket if you are involved in an accident or convicted of DUI. If you’re convicted of DUI in Las Vegas, for example, your premium will increase from $1869 to $3476.
Nevada Auto Insurance Rates
You may be surprised to learn that the lowest rate on average is only $1000 (but it’s important to note that this is an average and not a median).
In Nevada, the average rate is $1300 per year. If you have a clean driving record or are looking for a teen driver car insurance policy, you might be able to get a discount on your premium.
The highest rate in the state is $2600 per year—that’s pretty steep.
Auto Insurance Companies in Nevada and Their A.M Best Rating on Financial Strength
Auto insurance companies are rated based on their ability to pay out claims and remain financially strong. They’re evaluated by A.M Best, an independent rating agency that analyzes data from financial statements, regulatory filings and interviews with management teams at insurance companies.
In Nevada, all of the top five companies on A.M Best’s list of auto insurance companies in Nevada have an A rating on financial strength.
- GEICO (A++)
- State Farm (A++)
- Progressive (A+)
- Allstate (A+)
- Farmers (A)
Nevada Auto Insurance Requirements
In Nevada, you have to have bodily injury liability coverage of $15,000 per person and $30,000 per accident. That’s the minimum amount of insurance required by law. However, if you can afford it, you should have more than that.
The state’s property damage liability requirement is $10,000 per accident.
Nevada Car Insurance Average Rates by Make
The average car insurance rates in Nevada vary by make, and you can use this information to get a good deal on your policy. The average rates by make in Nevada are pretty similar to the national average. Here’s a breakdown of what those numbers look like:
- Toyota: $1,300
- Ford: $1,200
- Chevy: $1,200
- GMC: $1,300
- Dodge: $1,300
- Honda: $1,300
- Kia: $1,200
The Final Word
If you live in Nevada, you’ll need to get car insurance before you drive your car on the road. The state requires all drivers to carry minimum coverage for bodily injury, property damage, and uninsured/underinsured motorist coverage.
Hopefully the insights provided in this guide will prove helpful in helping you understand the basics of Nevada car insurance so you can make a more informed decision.
