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Why is Insurance So Expensive in Las Vegas?


FACTS TO KNOW
BEFORE YOU BUY

LAS VEGASCAR INSURANCE

Insurance in the state of Nevada is a legal requirement. 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.

THE STATE MINIMUM INSURANCE FOR LAS VEGAS, NEVADA

This is why it can often be a help to get one day car insurance. It may sound like a strange request, but think about all the times that you could possibly have used or could still use one day car insurance:

  • $25,000for bodily injury liability in an accident, per person
  • $50,000for the bodily injury liability limit per accident
  • $20,000for the property damage coverage limit per accident

In the event of an accident, costs can climb quite quickly. If you do not have this coverage and you get into an accident, you could be on the hook for these costs and you may be left facing a lawsuit and other expenses.

THE COST TO BUY LAS VEGAS CAR 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:

  • $1,426 – Nationwide average
  • $1,825 – The State of Nevada, the 19thmost expensive in the nation
  • $2,322 – Las Vegas, dramatically higher than the cost of the national average

WHY DOES IT COST MORE TO BUY LAS VEGAS CAR INSURANCE VS. THE REST OF THE STATE?

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.

Here are some additional reasons why Las Vegas car insurance 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.

Las Vegas is ranked high on the list of the top metro areas with high auto theft rates. In Las Vegas and the immediate surrounding areas, a car is reported stolen a little over once an hour.

In 2019, there were 331 traffic fatalities in Nevada, with the bulk of those taking place in the city of Las Vegas. It was the highest number of motorist deaths in one year that the state has experienced in a decade.

THE MOST STOLEN VEHICLES
IN LAS VEGAS

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:

  • Honda Civic
    (most stolen vehicle)
  • Chevrolet Full
    Size Pickup
  • Honda Accord
  • Dodge Full
    Size Pickup
  • Ford Full Size Pickup
  • Toyota Camry
  • Toyota Corolla
  • Nissan Altima
  • Nissan Sentra

Las Vegas is a wonderful city that attracts people from all walks of life. This attractiveness contributes to why Las Vegas auto insurance rates are on the higher end, but some might say it is a small price to pay to live in such a vibrant city.

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Peter Wilson

Owner / Agent

Barbra Gouaille

Owner / Agent

  • 702-867-0049
  • 702-660-9067
  • bgouaille@thewilsongrp.net
  • pwilson@thewilsongrp.net

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