Average car insurance cost in Las Vegas, NV

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Based on an analysis by Insure.com, the typical car insurance expense in Las Vegas, Nevada is $2,594 annually. Furthermore, car insurance premiums in Las Vegas are $534 more than compared to the state average in Nevada and $699 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Las Vegas, the average car insurance rates by age and gender, and the costs in Las Vegas based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Las Vegas. Keep reading to learn more.

Cheap car insurance companies in Las Vegas

State Farm offers the most affordable car insurance in Las Vegas for coverage limits of 100/300/100 at $1,976 per year.

The Geico comes close second offering car insurance at $2,091 per year.

As mentioned previously, car insurance quotes differ amongst companies due to the factors they consider when determining rates. Hence, it’s advisable to obtain quotes from multiple insurers to find affordable car insurance rates in Las Vegas that align with your needs before finalizing your insurance carrier.

Here are the average annual and monthly costs for the various car insurance companies providing coverage in Las Vegas, Nevada:

Read about the best car insurance companies.

Average car insurance cost in Las Vegas by coverage limits

The average car insurance rates in Las Vegas by coverage type are as follows:

• State minimum coverage: $1,025 per year (limits of 25/50/25)
• Liability-only coverage: $1,436 per year (limits of 50/100/50)
• Full coverage: $2,594 per year (limits of 100/300/100)
• Non-owners coverage: $397 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Las Vegas

In Las Vegas, Nevada, the average annual car insurance premium for female drivers is $2,621 per year.

While the average annual cost for male drivers is $2,569 per year, which is $52 less than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Las Vegas

In Las Vegas, car insurance rates are highest for teens, averaging $8,217 per year or $685 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $3,969 annually for their car insurance, which is $4,248 less than what teens pay for their coverage.

In Las Vegas, adult drivers pay an average of $2,608 per year for car insurance, while senior drivers pay $2,624 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Las Vegas

Examining the trends in car insurance rates in Las Vegas, Nevada it was on an downward swing from 2022 to 2023. From 2022 to 2023 rates decrease overall by 5%, or $126.

The table below shows the trend for last four years:

Conclusion

Car insurance rates in Las Vegas are higher than the average rates in Nevada. Drivers in Las Vegas can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.