LAS VEGAS (KLAS) – Drivers will soon be paying more for car insurance in the State of Nevada.
Nationwide, the average car insurance rate is up 17% since the beginning of the year.
But the rates for Nevada are much higher.
The average driver in Nevada pays about $260 for car insurance, which is more than 34% higher than what many were paying at the end of 2022.
Las Vegas has the second-highest car insurance rate in the nation after Michigan, and the second fastest-increasing insurance rates after New Mexico.
Experts predict another 4% increase by the end of the year.
“Nevada has been facing high numbers of driving-related fatalities, 2022 was the deadliest year on record over the last three decades,” Communications and Content Manager for Insurify Tanveen Vohra explained. “This increases the risk that insurers take on when they are insuring you and your car.”
The supply chain issues have driven up the cost of materials like steel, rubber, and aluminum impacting car repair costs, which Vohra added can impact a driver’s car insurance rate as well.
“It drives up your premium because insurers are taking on a more expensive risk, a higher risk, as a result of those increasing prices,” she said.
She added that drivers can’t forget about global warming.
Climate change has been a main driver in increasing car insurance rates for states like California, Florida, and Louisiana.
Vohra has some advice for drivers when it comes to saving some cash.
“One recommendation is to make sure you are shopping around for car insurance between multiple insurers, a lot of drivers see rates go up when it’s time to renew,” she said.
Some other ways to save on car insurance; increase your deductible, check for discounts you qualify for, and maintain a good driving record.
