Las VegasAuto Insurance
Facts to Know
before you buy
Here’s what you need to know…
Insurance in the state of Nevada has a legal requirement for a minimum of liability car insurance coverage.. In the Las Vegas area, you will need to buy Las Vegas car insurance to be legally allowed to drive in and around the city as well as to other parts of the state.
Nevada has the Insurance Verification Program, which means that the state motor vehicle bureaus and insurance companies are linked; information about new policies, cancelled policies, and renewals are automatically sent from one to the other.
Many different factors affect car insurance rates and where you live is a big one.
Keep reading as we dive in to see just why is car insurance so expensive in Las Vegas and what other car insurance facts you need to know.
In order to get the cheapest Las Vegas auto insurance rates, you need to compare quotes from different companies. Enter your ZIP now to find the best car insurance in Las Vegas.
Why does it cost more to buy Las Vegas auto insurance than the rest of the state?
Why is car insurance so expensive in Las Vegas? Is car insurance expensive in Nevada or just in Las Vegas?
Las Vegas car insurance companies understand that with a lot of drivers and mileage, the chances of being in an accident are higher. The higher the chance of an accident, the more likely the insurance company will have to pay. If you have comprehensive coverage, the company could be forced to pay for other types of claim, such as property damage liability.
Las Vegas is a bustling city with more than a million people driving the streets at any one point. In addition to residents, there are travelers from all over the world plus major events that often send the number of people there skyrocketing. The increased population and ever fluctuating community makes your vehicle more susceptible to damages, as it is exposed more frequently in such a busy city.
Here are some additional reasons why the average cost of car insurance policies in Las Vegas may be more expensive than in other parts of Nevada:
Males make up more than 50% of the population in Las Vegas. Those male drivers cause more than 80% of the accidents on the streets there.
Every day, more than 11,000 people come to the city because of their job, increasing traffic on the roads by nearly three percent. There are also over 32 million tourists visiting the city each year.
The number of people who both live and work in Las Vegas is more than 100,000.
Car insurance companies charge more based on where you live, mainly for the reasons listed above. If you are more likely to be in an accident or have your car stolen, you will be charged higher rates.
You might be surprised to learn that even in the same city, your auto insurance rates can be higher based on where exactly you live. For example, let’s look at the cost of auto insurance by zip code in Las Vegas.
|Zip||Average Annual Auto Insurance Rate|
Your zip code can cost you an extra $188 a month on your insurance premiums for the same coverage. That’s a lot of money just for living across town.
There are many other factors that come into play when your auto insurance rates are determined. Companies look at things like your age, driving record, and credit history, just to name a few. One of the best ways to keep your insurance rate down is to keep a clean driving record.
Some factors you can change like your driving and credit, but others you can’t adjust like your age. Make the changes that you can to help lower your auto insurance rates.
What is the state minimum insurance for Las Vegas, Nevada?
for bodily injury liability in an accident, per person
for the bodily injury liability limit per accident
for the property damage coverage limit per accident
The Cost to Buy Las Vegas Auto Insurance vs.
the National Average
Comparing insurance costs can help put it into perspective. It will also give you an idea of how much your insurance may possibly cost you. In 2019, the averages for insurance costs:
We’ve talked about why auto insurance in Las Vegas is more expensive, but why is car insurance so expensive in Nevada state-wide? There are a few different reasons companies see drivers in Nevada as high-risk, including the number of drivers in general and high rates of uninsured drivers. You can also blame thefts, severe weather, and even alcohol laws for higher average rates.
So if you asked “how much does it cost to drive to Las Vegas?”; according to insurance providers, it might be cheaper than living there.
What are the most stolen vehicles
in Las Vegas
Las Vegas ranks in the top 60 cities with the highest vehicle theft rates.
While there are a number of sports and luxury model cars in the city, the most commonly stolen cars in Las Vegas are less flashy. These include:
(most stolen vehicle)
Ford Full Size Pickup
If you have one of these vehicles, you might want to consider ways to keep it safe, like an alarm or parking in a garage.