Home Insurance Good drivers vs. high insurance rates: Why Nevada may be stuck with both – News3LV

Good drivers vs. high insurance rates: Why Nevada may be stuck with both – News3LV

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One study says Nevada’s drivers are among the best while another says we have some of the highest insurance rates. News 3 explores why the state may be stuck with the contradiction. (KSNV)

It may sound surprising after what you saw on your commute home tonight, but a recent national study found Nevada may have some of the best drivers in the country.

Which got us wondering, why do we pay so much for car insurance?

One study says Nevada has some of the best drivers in the country.

However, another study says we have some of the most expensive car insurance. These two don’t seem to fit. However, we did find an answer.

The study conducted by insurance broker “Quotewizzard.com” looked at five categories: accidents, speeding tickets, DUI’s, citations, and fatalities.

Much of their data comes from the Federal Highway Administration. It determined Nevada ranks among the top-5 states for best drivers overall.

Anthony Fagiana has been selling insurance for All-State in Nevada the better part of 20-years. The study, he says contradicts what he’s known.

News 3 also found another study by Insure.com, that lists Nevada among the most expensive states for car insurance, paying on average $120 more per premium.

According to the Nevada Division of Insurance, which regulates the industry, the answer may have to do with claims. Both the number of claims and the cost of settlements.

When attorneys are involved, settlements rise and ultimately so do premiums.

Nevada drivers may be safer but we’re also more letigious and therefore, more costly.

According to the Division of Insurance, another possible factor could be the number of luxury vehicles we have in Las Vegas alone. When those get into a wreck, they are very costly to fix and that also drives rates upward.

Bottom line is can we expect to see our insurance rates go down sometime soon? Probably slim to none.

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