Car Insurance in Nevada
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The average semiannual cost of car insurance in the state of Nevada is $979.50. An insured premiums are influenced by more variables than purely their place of residence. Car insurance underwriters calculate auto insurance rates after assessing a range of criteria such as the policyholder’s age, driving record, marital status, and credit rating. We examined typical car insurance costs in Nevada across each of the predominant rating factors. We aim to provide consumers insight to identify a car insurance policy that meets their needs and budget.
|Semi Annual Permium
*Data Methodology – Updated 1/15/2024
The Nevada car insurance rates are based on a 35-year-old male with the most popular car (Honda Accord) living in NV. The Quote is for full coverage with comprehensive at $500 deductible and collision at $500 deductible.
Nevada requires all drivers to carry a minimum amount of liability insurance coverage. This minimum coverage is designed to protect you financially in the event of an accident in which you are found legally responsible.
Nevada’s minimum liability coverage amounts are:
Together, these are often referred to as 15/30/10 coverage. Nevada law requires all drivers to carry at least this level of coverage to legally drive in the state.
The primary penalty for driving without insurance in Nevada is a fine. For a first offense, you will likely receive a fine between $600 and $1,000. For subsequent offenses within 7 years, fines increase significantly and can reach up to $1,500.
In addition to fines, your driver’s license will likely be suspended. For a first offense, your license will likely be suspended for 90 days.
For second and subsequent offenses within 7 years, suspensions increase to 6 months. During the suspension period, you will not be allowed to drive any vehicle.
You may also receive points on your driving record for driving without insurance in Nevada. The Nevada DMV typically assesses 6 points for a first offense and 12 points for subsequent offenses. Points remain on your driving record for 3 years and can increase your car insurance rates significantly.
Finally, your vehicle may be subject to impoundment if you are caught driving without insurance. The Nevada DMV requires vehicles to be insured in order to be registered. Therefore, if you are caught driving an uninsured vehicle, law enforcement can impound your vehicle on the spot. You will then need to provide proof of insurance to retrieve your vehicle.
Auto insurance rates in Nevada are generally considered to be higher than the national average. There are several factors that contribute to this.
Nevada has a higher rate of uninsured motorists compared to most other states. Approximately 16% of Nevada drivers are uninsured. This means insurance companies must charge higher rates to the insured drivers to make up for potential losses from uninsured motorists.
Nevada has a higher percentage of high-risk drivers compared to other states. This includes drivers with DUIs, traffic violations, and young or inexperienced drivers. Insurance companies view these drivers as posing a higher risk of filing claims, so they charge higher premiums accordingly.
Nevada has a higher frequency of claims filed against auto insurance policies. The number of claims per insured vehicle in Nevada is one of the highest in the country. More claims mean higher costs for insurers, which are then passed on through higher rates.
Nevada has more vehicle theft compared to most states. Vehicle theft can be a very expensive claim for insurance companies. The high rate of vehicle theft in Nevada contributes to higher auto insurance costs.
Nevada has an assigned risk insurance plan for drivers who are considered high-risk. The Nevada Auto Insurance Plan offers coverage to drivers who cannot obtain insurance through standard carriers. Premiums tend to be higher through this plan but can still provide the required coverage at a workable rate.
Many insurance companies offer discounts for good students, good drivers, and multiple policies. If you have a student with good grades, have maintained a clean driving record for several years, or already insure your home or other vehicles with your provider, be sure to ask about any eligible discounts.
Some companies offer discounts for completing a driver’s safety course, installing anti-theft devices in your vehicle, or bundling multiple vehicles on the same policy. Senior driver discounts are common as well for those over the age of 55.
There are also insurance programs available specifically for low-income individuals and households. The Nevada Low Income Auto Insurance Program provides affordable coverage options for qualifying Nevadans. Income limits and eligibility requirements apply.
Nevada has some of the highest rates of uninsured motorists at nearly 20% of drivers. Here are some key statistics regarding Nevada car insurance:
The 10 Largest Nevada Car Insurance Companies