Age and Car Insurance Premiums Las Vegas
Reader’s Question:
Is it true that car insurance companies here in Las Vegas increase their policyholder’s premiums once they get to 55 years old?
William
Las Vegas, NV
As with all car insurance companies in the United States, and the State of Nevada is included, age, driving history and claims history are all taken into account when computing for premiums. Some car insurers offer discounts to drivers between fifty and sixty-five years of age because this age group has lower accident rates. At the age of sixty-five, car insurance rates begin to increase dramatically. Some drivers who are over the age of seventy even have a hard time finding car insurance companies to grant them coverage.
The reason most insurers increase the rates of this age group of drivers is that they have been found to have filed more claims than drivers who were younger. Although anti discrimination laws are there to protect consumers from being denied of service due to age, car insurance companies protect themselves by charging more to the age group that has a higher rate of potential claims.
The best thing to do is ask your local car insurance agent for discounts you may be qualified for. In Nevada, car insurance companies are required to grant a reduction in premiums for a three-year period for people aged 55 and older if the driving course approved by the Nevada Department of Motor Vehicles was successfully completed. Additionally, you must have a spotless driving record following the reduction in premium in order to keep the discount.
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