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Thursday, Sep. 7, 2023

Are car insurance premiums increasing significantly in Nevada?

Eric Neugeboren, The Nevada Independent
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.

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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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