Las Vegas top insurance rates since 2011





09/15/2020



Insurance rates in Las Vegas have skyrocketed since 2011. With an increase in population and higher premiums it's no wonder that premiums have up and caused such a serious increase to insurance premiums





According to the increase in premiums in 2011, the Zebra put out an article about the state of car insurance premiums increasing in Las Vegas, NV. Close to a 20% increase in premium costs are causing the insured to shop for insurance rates elsewhere.


Through the same study and an algorithm that provides an estimate of insurance costs, the average Las Vegas city premium is close to $2,322 while Nevada as a whole is $1,802. The US national average is $1427 which is close to $120/mo per vehicle. When building one or more cars together historically and actually premiums tend to go down. While Nevada has high premiums, the highest premiums of all companies in Michigan. Which rates were actually more expensive and higher than North Carolina.


Some insured are shopping for insurance, going on-line, and finding new ways to get better premiums. This is good for insurance companies like Allstate, Geico, State Farm, and others who are constantly looking for new ways to market their products and services, using to algorithms and underwriting tools to provide cheaper products and better services.


Severe weather conditions as historically shown cause an increase in premiums. If you can imagine places like Paradise, CA with wildfires causing premiums to increase, it can be hard for insurance companies to want to actually write policies in these areas due to the cost to cover these homes.


Some insureds rather than shopping within their city are going outside their scope to seek for better premium in other cities due to the cheaper premium prices. This clear when local companies may have better prices than big named companies.


Places like Bunkerville have the lowest at $1482 a year next Mesquite, Jean, Moapa, and Laughlin.