Bankrate has reported that drivers in Nevada are paying an average of $973 per year for minimum coverage auto insurance and $2,779 for full coverage. These rates are significantly higher than the national average, which stands at $2,014 annually for full coverage and $622 for minimum.

According to Bankrate, the amount a Nevada driver will pay can vary from the state average based on factors such as vehicle type and the driver’s zip code, age, gender, credit score, and driving record.

Bankrate's research has also revealed other key details about auto insurance in the state. For instance, the average monthly payment for minimal coverage is $81, while full coverage costs an average of $232. The research also found that 18-year-old male drivers pay an average of $9,432 per year - the highest amount among all age groups.

The research further indicated that drivers in the Nellis AFB area pay an annual premium of $2,948 - the highest among Nevada’s five most populous cities. In Las Vegas, it costs $2,840 annually, while in Henderson drivers pay $2,571.

A Las Vegas Review-Journal article reported a significant increase in auto insurance rates in Nevada in 2023. Rates soared by 36% in the first half of the year alone. Overall, rates have risen by 18.9% since 2022. The paper attributed this rise to a high number of crashes (with 2022 being the third-deadliest year on Nevada’s roads), population growth and an increase in new vehicle prices.