Your auto insurance is going up again. ‘Las Vegas partygoers’ are partly to blame
Nevadans might want to check with their auto insurance company.
According to the state of
Auto insurance rates have been increasing nationally, as well. The Consumer Price Index for auto insurance has risen 18.6 percent from
According to the division, cost increases are influenced by rising car expenses, insurance fraud, litigation, poor driving habits and the increase in Las Vegas’ population.
“Automotive insurance rate increases are a national trend and issue,” the division said in a statement. “Recent increases can also be attributed to losses incurred by property and casualty carriers operating in Nevada.”
All insurers must go through the
“As claims become more costly due to inflation, lawsuit abuse and increases in everything from repair-related labor rates to parts costs and building materials, insurance carriers around the country have been adjusting rates,” said Country Financial, one of the companies anticipating an increase.
The reason being, according to Insurance Business America: “Nevada’s relaxed alcohol laws and the high number of
Is your auto insurance increasing?
Allstate Fire and Casualty will increase rates by 10.8 percent on
Amica Mutual customers will be seeing the first increase on
The second to see an increase will be Country Financial customers with either Country Mutual, Preferred or Casualty insurance, all starting on
“We encourage clients to meet with a Country Financial representative to discuss their individual situations and consider options to effectively manage risks with solutions that best fit their needs,” the company said.
©2024 Las Vegas Review-Journal. Visit reviewjournal.com.. Distributed by Tribune Content Agency, LLC.
Inflation's down and the European Central Bank has cut rates, again. Next up: The Fed.
Digest
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News