Nevada drivers can expect to see an increase in their insurance premiums. As many as one in three drivers can see an increase of up to nine percent. That’s about an increase of $10 per month, per driver.
Vehicle insurance costs in the State of Nevada remain higher than they are in other states. Average yearly insurance rates in Nevada are already $1,802 while motorists nationwide pay an average of $1,427 for vehicle insurance. In Las Vegas, annual insurance rates are even higher, averaging $2,462 per year. Insurance premiums in Las Vegas are among the highest in the entire country.
You’re probably already seeing the increases in your insurance renewal rates. Lawmakers passed the measure in 2017. It’s effective as of July 1, 2018. It’s the first increase in insurance minimums since 1958. Nevada has some of the lowest insurance minimums in the country.