Nevada Confronts Soaring Auto Insurance Costs in Public Webinar

The Nevada Division of Insurance recently held a live webinar to provide the public with an opportunity to discuss the rising cost of auto insurance in the state.

The event on the subject was held on November 1 and ran from 10:00 am through until 11:30 am.

The webinar was meant to address the rapidly rising auto insurance rates in the state, which have been climbing as has been the case across the country. According to data from the US Bureau of Labor Statistics, premiums rose by an average of 18.9 percent nationwide. There are a number of reasons for this, including a rise in vehicle crashes since 2019 before the pandemic, as well as a higher cost for repairs and parts. Worsening this trend has been a rising instance of natural disasters, particularly in the form of storms, hail, flooding and wildfires, which are more frequent and severe.