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FACT BRIEF

Are car insurance premiums increasing significantly in Nevada?

By Eric Neugeboren
View this fact brief on The Nevada Independent
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YES

Car insurance premiums in Nevada have increased considerably in recent years.

Nevadans on average paid $2,023 on car insurance premiums in 2022, according to the latest findings from Insure, an organization that collects car insurance data. That was a steep increase from 2021, when Nevadans on average paid $1,380 in annual premiums.

Over the past decade, Nevadans’ insurance rates have increased by 51%, the third-highest rate hike in the country, according to data collected by FINN America. If that trend continues, Nevadans would pay an average of $3,055 in annual premiums in 2033.

Rising insurance costs represent a nationwide trend. In the past decade, car insurance prices increased by 64% across the country, according to data from the U.S. Bureau of Labor Statistics.

This fact brief is responsive to conversations such as this one.
Sources
Insure Average car insurance cost in Nevada (November 2022)
Insure (archive) 2021 car insurance costs, by state
FINN State Car Insurance Report
US Bureau of Labor Statistics Nationwide car insurance prices
ABOUT THE CONTRIBUTOR
The Nevada Independent
The Nevada Independent is a nonpartisan, nonprofit news and opinion website founded in 2017 by veteran political journalist and commentator Jon Ralston. The site and its supporting channels are focused on ethical, unbiased and transparent journalism. In general, we aim to gather and disseminate important public information and increase civic engagement. We are supported by corporate donations, memberships, event ticket sales and sponsorships and foundation grants. We disclose all our members and donors. Donors have no influence over our content, ever. The Nevada Independent is the dba for Nevada News Bureau, Inc., a 501(c)3 nonprofit founded in 2010 by Elizabeth Thompson, who now serves as one of The Nevada Independent's managing directors and its Editor.
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Fact briefs are short, credibly sourced summaries that offer “yes/no” answers in response to claims found online. They rely on publicly available, often primary source data and documents. Fact briefs are created by contributors to Gigafact —a nonprofit project looking to expand participation in fact-checking and protect the democratic process. See all fact briefs here.