LAS VEGAS (KLAS) — The cost of auto insurance has increased across the country, especially in Nevada with the state 38% above the national average.
The national average for full coverage car insurance cost between $600 to $2,000, however in Nevada, drivers are averaging just over $2,700 per year, according to Bankrate.
Dave Hill was not too pleased with his auto insurance bill as of recent. He said within the last several months it has skyrocketed and was never given an explanation as to why.
“We’ve never had any violations of any kind. When we got our last bill, they told us our insurance has gone up $250 dollars per car. We are both on fixed incomes so that was substantial,” Hill told 8 News Now. “We started shopping around and then we went with State Farm and it was half of that for the same coverage so we just started wondering if that was an issue down here in Las Vegas, particularly Clark County.”
Janey Ruiz with the Insurance Information Institute provided 8 News Now with an explanation as to why drivers are seeing an increase and what they can do to help themselves in the process.
“We’ve seen a dramatic increase of cars back on the road after the pandemic, and an increase of bad driving behavior,” Ruiz said.
She also stated that the effects of inflation also have a lot to do with the increase. Labor shortages and part shortages are causing an increase in the cost to repair vehicles and the time people have to wait to get their cars repaired.
As for ways to combat the high costs, Ruiz said that drivers should check in with their insurance carrier on what type of discounts are available.
“If you have a safe car, they have discounts for that so maybe bundle your auto and homeowners insurance with one company,” Ruiz said.
Ruiz also shared with 8 News Now that the number of car thefts and break-ins has also increased the premiums too, particularly in Kia and Hyundai models.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.