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Car Insurance Rates Getting More Expensive In Nevada

LAS VEGAS - Car insurance is already expensive in Nevada and rates are about to go up for those who carry minimum liability.

It's a double-digit increase, and it's because of a new law starting July 1, 2018.

The state Division of Insurance sent out a letter this week explaining the increase which will nearly double the insurance protection limits for those with minimum liability.

Justin Watkins recently discussed this increase on Las Vegas Morning Blend.

So, for those who carry what's known as 15/30/10, they'll have to change it to 25/50/20 instead. That will mean $25,000 of coverage per person for bodily injury, $50,000 per accident for bodily injury, and $20,000 per accident for property damage.

The state says some companies are already implementing the changes during policy renewals. And although minimum liability rates are going up, agents believe this could eventually help lower the rates in the future.

If you're wondering why is it getting so expensive, a recent study by an insurance search website called "Zebra" says it's probably due to more accident claims in the Las Vegas area from the population boom in recent years.

It also blames vehicle theft rates. That study said insurance premiums have skyrocketed by 31 percent in the Las Vegas area between 2011 and 2017.