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Las Vegas Auto Insurance: Understanding Your Premium

car insurance premium

If there is one thing that is asked by people that move into the Las Vegas Valley and shop for auto insurance it is: Why did my premium change so much? Our answer is almost always the same: Nevada actually falls below the national average for auto insurance, but it may be drastically more or less than where you moved here from. And from carrier to carrier the rates and coverage may also be drastically more or less.

Where Are Auto Insurance Rates Highest?

To make a fair comparison these rates are based on a 26 year old male with a clean driving record on a 2011 model with basic insurance. The states with the highest auto insurance premiums is in Michigan at $2,541, followed by $2,453 in Louisiana, $2,197 in Oklahoma, $2,190 in Montana, $2,146 in Washington D.C., $1,991 in California, and $1,896 in Mississippi. But when you actually look at the cities with the highest rates for auto insurance premiums you may be surprised. In Detroit, MI the average premium will cost you about $10,723 with the next most expensive city New Orleans, LA comes in at $4,309. Followed by Grand Rapids, MI at $4,042, Newark, NJ at $3,525, Baton Rouge, LA at $3,363, Hialeah, FL at $3,271,  Jersey City, NJ at $3,266 Louisville, KY at $3,255, and Miami, FL at $3,168.

How Do Las Vegas Auto Insurance Premiums Rank

As mentioned above, Nevada actually falls below the national average for auto insurance. The national average for auto insurance premiums is roughly $1,561 and in Nevada you can expect to pay $1,300 annually for the same basic coverage. However, when you break down the average premium by city you will see that Las Vegas, NV is actually ranked number 17 in the nation with annual premiums more than double that of the state average at $2,618.

Many of the factors contributing to these higher premiums are the aspects that attract many people to live in Las Vegas, and almost none of them are within the average drivers control. Topping this list are the number of impaired drivers on the road, and this is directly related to the clubs and party atmosphere on the Las Vegas Strip. Other factors include the number of visitors we draw, the 24-hour nature of the city and auto thefts.

Fortunately, EINSURE will look at you as an individual and find ways to give you discounts on your policy premium while still providing you with the high quality service and coverage you want. If you want low cost premiums in a high cost city, EINSURE is the only company you need to contact.

Comment below to speak directly to an insurance broker in Las Vegas. Follow this blog for more information about auto, home, life and other insurances, and be sure to keep up with EINSURE on Facebook.

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