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Nevada is one of the most expensive states in the US for car insurance, ranking 43rd out of 50 states. The average annual cost of full car insurance coverage in Nevada is $2,779, which is $765 higher than the national average, according to data from Bankrate. High rates in Las Vegas, where drivers pay an average of $2,840 annually, contribute to the state’s overall cost. Henderson and North Las Vegas drivers pay averages of $2,571 and $2,827, respectively. Gennady Stolyarov II, lead actuary with the Nevada Division of Insurance, attributes Las Vegas’ higher rates to its dense population, 24/7 economy, heavy traffic, and influx of out-of-state visitors, which increase both the frequency and severity of loss.

Factors affecting car insurance premiums include driving record, credit score, adding a teenage driver, and type of vehicle. Nevada drivers with poor credit pay about $4,000 per year, compared to $2,480 for those with excellent credit. Insuring a teenage driver in Nevada adds roughly $3,500 to the annual rate. In recent years, more rate increases have been approved due to supply chain issues and staffing shortages at body shops. Nevada Division of Insurance Commissioner Scott Kipper advises consumers to get multiple quotes when renewing insurance to ensure they receive the best coverage and rate for their situation.