How Much Is Car Insurance in Nevada? (2023 Averages)
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Depending on the driver profile and preferred level of coverage, auto insurance premiums might fluctuate significantly. Drivers with minimum coverage policies, for instance, only pay roughly $1,016 a year, despite the average cost of auto insurance in Nevada being $1,900 per year. If you have a violation on your record or add a young driver to your policy, this average annual cost increases to $2,355 and $4,672, respectively.
Your premiums will also vary depending on the auto insurance provider you choose. In Nevada, a full coverage policy from GEICO costs an average of $1,083 a year, whereas a similar policy from CSAA costs around $2,943 annually.
The Average Cost of Car Insurance in Nevada
MoneyGeek compiled average auto insurance costs by considering factors affecting Nevada car insurance rates including age, driving history, vehicle type and credit score.
In Nevada, a driver’s age and credit score are the most significant factors affecting car insurance costs.
Average costs of car insurance in Nevada can vary based on individual circumstances. Learning more about these can help you find the best coverage and price for your needs.
Average Costs of Car Insurance in Nevada
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- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$1,900$158
- Drivers Buying Minimum Coverage$1,016$85
- Adding a Young Driver$4,672$389
- Drivers With a Violation$2,355$196
- Drivers With Poor Credit$3,430$286
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Why Are Car Insurance Rates Expensive in Nevada?
Nevada car insurance rates are expensive. Based on car insurance rates by state, Nevada ranked 46th in terms of affordability. That means it is the sixth most expensive state for car insurance in the U.S. This is because of high urban populations and motor vehicle thefts.
Nevada ranked fourth in terms of urban share of population at 94 percent. Generally, urban centers have higher car insurance rates because they tend to have more road accidents and are more congested.
Additionally, the state has the fourth highest motor vehicle theft rate at 365.6 per 100,000 inhabitants.
Average Cost of Car Insurance in Nevada: Full Coverage vs. Minimum Coverage
Your average car insurance cost in Nevada depends on the coverage level you choose. A policy with more features will be more expensive than a plan with basic protection.
A policy that covers only the minimum coverage requirement in Nevada has an average cost of $1,016 annually. The average cost of full coverage car insurance in Nevada is $1,900 per year. The difference between both types of insurance policies is $884 per year. That means choosing a full coverage car insurance policy will provide maximum coverage but will cost you more.
Average Cost of Car Insurance in Nevada by Coverage Level
A state-minimum policy in Nevada is the most affordable car insurance you can buy in the state.
When looking for coverage, know that you can extend your liability coverage to 50/100/50 or 100/300/100. These figures represent liability coverage levels on your policy. A 50/100/50 policy, for instance, includes:
- $50,000 for bodily injury per person
- $100,000 for bodily injury per accident
- $50,000 for property damage per accident
A full coverage policy, in addition to the basic third-party liability coverage, has comprehensive and collision insurance, protecting you from paying the cost of damages to your car.
Average Cost of Car Insurance in Nevada By Company
The insurance provider you choose can also greatly impact your Nevada car insurance rates. That is because each company has different premium prices.
Based on average rates, USAA offers the cheapest liability-only and full coverage car insurance plans. However, its policies are only for current or former military members and their families.
Another affordable option for drivers looking for cheap full coverage and liability-only auto insurance plans is GEICO.
On the other hand, the most expensive company for a state minimum liability-only policy is Farmers. CSAA is the priciest option for full coverage car insurance.
Average Annual Costs of Car Insurance in Nevada - By Company
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- CompanyMinimum CoverageFull Coverage
- $496$939
- $583$1,083
- $819$1,389
- $893$1,652
- $947$1,865
How Much Is Car Insurance in Nevada by Age?
Your age is an important factor to consider when determining average car insurance costs in Nevada. Young drivers typically pay higher premiums because they are seen to be risky and more likely to have accidents.
On average, the annual difference between a car insurance policy in Nevada for a 40-year-old versus a plan for a 16-year-old driver is $2,772.
If you are a young driver looking for a way to save money on auto insurance expenses, consider being added to your parent’s policy.
First-time drivers in Nevada will get similar rates as young drivers when they first buy car insurance.
Average Costs of Full Coverage Car Insurance in Nevada - By Age
How Does Driving History Affect Car Insurance Costs in Nevada?
Being in a road accident or getting violations on your driving record will result in higher insurance rates. That’s because insurance providers will consider you a high-risk driver. If you want to find affordable insurance for drivers with a bad record, shop around and compare prices.
MoneyGeek found that drivers with a speeding ticket pay $455 more per year in Nevada than individuals with a clean driving record. Worse violations, such as a DUI or at-fault accident, can increase Nevada car insurance rates by several hundred dollars on average.
Average Costs of Full Coverage Car Insurance in Nevada - By Driving History
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- Driving ViolationAnnual Premium
- Safe Driver$1,900
- Speeding Ticket$2,355
- At-Fault Accident$2,747
- DUI$2,903
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Credit Scores and the Cost of Car Insurance in Nevada
Your credit score will also play a significant role in determining your car insurance expenses in Nevada. A driver with a poor credit score pays an average of $3,430 per year, which is $1,381 more than the average cost of insurance for individuals with good credit scores. Additionally, those with excellent credit scores pay $379 less than drivers with good credit.
Ensuring that you have a good or excellent credit score can help you save a lot on insurance premiums. That said, drivers with bad credit can still find affordable car insurance plans in Nevada.
Average Costs of Full Coverage Car Insurance in Nevada - By Credit Score
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- Credit ScoreAnnual Premium
- Excellent$1,669
- Good$2,048
- Fair$2,394
- Below Fair$2,821
- Poor$3,430
How Much Is Car Insurance in Your City?
While car insurance rates can vary greatly between states, they can also differ within states. The average cost of auto insurance fluctuates based on the city you reside in. More densely populated cities, those with more road accidents or areas more prone to natural disasters have higher auto insurance prices.
In Nevada, Reno has the cheapest annual average at $1,239. Meanwhile, the most expensive city is Las Vegas with an average car insurance rate of $2,221 per year.
Average Costs of Full Coverage Car Insurance in Nevada - By City
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- CityAnnual Premium
- $1,840
- $2,221
- $2,194
- $1,239
- $1,248
Frequently Asked Questions About Nevada Car Insurance Rates
Learn more about Nevada car insurance rates with the help of the most commonly asked questions below.
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