The new change with auto insurance starts in about two weeks, but some people in the Las Vegas valley are already paying more because of it.
The state is raising the requirement for minimum coverage.
One in three Nevadans can expect to pay more in car insurance as bodily injury coverage per person, will go from $15,000 to $25,000 and per accident, it will move from $30,000 to $50,000. Plus, property damage coverage from $10,000 to $2,000.
Depending on your current policy and how many cars you have, expect to pay between $10 to $50 more in car insurance starting July 1. That's $100 to $600 more each year.
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We all try to save as much money as possible so even a $10 increase in monthly car insurance payments can be a problem.
Eric Young says, "That would be big because sometimes people don't have the money to pay extra."
Zimbria Bibb just moved to Las Vegas from Michigan.
She says, "It concerns me if I have to pay more than what I'm already paying."
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But there are still ways to offset the cost of this change.
"Figure out if there's a way to bundle different policies whether it's your homeowners or renters insurance, along with your auto insurance to see if you can save," says Michael Geeser of Nevada Insurance Council.
He also recommends:
- Consider increasing your deductible and if you have to, forgo optional coverage like glass.
- Ask about offers like good drivers or occupation and membership car insurance discounts.
- Also, talk to your agent about UBI.
"Usage-based insurance or UBI – it really works for people who don't drive a lot. Maybe the average is 10,000 to 12,000 miles a year."
Some other tips include:
- Shop around for your car insurance.
- Reduce optional insurance on an older car. According to the Insurance Information Institute, if your older car is worth less than 10 times the insurance premium, having collision coverage may not be cost effective.
- Look at car insurance costs before buying a car. Some vehicles cost significantly more than others.
- Maintain or establish good credit.
- If you drive fewer than the average number of miles per year, you may qualify for a discount.
