[Willy702]

Is your credit bad? CA doesn't allow credit score to be considered for your premium but NV does. In the end though car insurance is highly regulated and the rates are just a function of claims. Shop around for sure, some companies have had worse histories with claims in recent years and are forced to increase premiums.

[dexter75]

Originally Posted by PinkString

Park your car in the garage at night. There are way too many thefts of the catalytic converter.

CA has 1,600 stolen per month. Nevada had 1,900 all of last year. I'll be fine thanks

[Willy702]

Originally Posted by dexter75

CA has 1,600 stolen per month. Nevada had 1,900 all of last year. I'll be fine thanks

California has 12 times the population and 10 times the number of thefts. So Nevada is less safe in this regard. But your math comprehension is fine thanks!

[dexter75]

Originally Posted by Willy702

California has 12 times the population and 10 times the number of thefts. So Nevada is less safe in this regard. But your math comprehension is fine thanks!

CA leads the nation in vehicle thefts, and by a lot. 168k last year. Nevada only had just over 10k and didnt even crack the top 30. Some locals (mostly in the Summerlin bubble who think anywhere they even see a homeless person is the ghetto) act like Vegas is a crime ridden ghetto but its really not. Its actually in the top 15 safest cities in the country for its size. Ive lived in parts of CA that are MUCH worse than any part of Vegas. Thanks

[esas]

To date, I've lived in: NC, SC, FL, NV, AK, CO, UK and ID....Nevada has the highest registration and insurance costs. You asked why, we told you. In 2010 when I first moved to NV I asked my insurance company (USAA) why my rate doubled? They said theft, property crime and accidents. You can argue CA vs. NV crime stats all you want...but those are the reasons that NV insurance rates are high.

[moguldreamer]

Q: Why do insurance companies charge more in NV?

A: Because they can. Customers do not cancel their insurance policies (at least not at any significant rate). So, better questions would be:

1) Why don't insurance companies charge even more in NV than they currently charge?
2) Why don't insurance companies charge even more in CA than they currently charge?

[dexter75]

Originally Posted by esas

To date, I've lived in: NC, SC, FL, NV, AK, CO, UK and ID....Nevada has the highest registration and insurance costs. You asked why, we told you. In 2010 when I first moved to NV I asked my insurance company (USAA) why my rate doubled? They said theft, property crime and accidents. You can argue CA vs. NV crime stats all you want...but those are the reasons that NV insurance rates are high.

CA has at least 5 times the number of thefts, property crimes and accidents as NV. There are over 3 times as many people in LA county alone as the entire state of NV. Makes zero sense but oh well.

[Willy702]

Originally Posted by moguldreamer

Q: Why do insurance companies charge more in NV?

A: Because they can. Customers do not cancel their insurance policies (at least not at any significant rate). So, better questions would be:

1) Why don't insurance companies charge even more in NV than they currently charge?
2) Why don't insurance companies charge even more in CA than they currently charge?

Most kinds of insurance are highly regulated in every state, they can't just charge whatever they'd like to the collective group of insureds. If the premiums collected are too high over time to pay out claims they are required to lower their rates and vice versa if they didn't collect enough premiums. Its a set formula that you can look up if you want. The rate charts are also required to be filed and the public can look through them online. Its a lot of numbers and I doubt anyone wants to look through these, but its there to see if you so choose.

If insurance is higher its because claims paid have been higher. The insurance companies are in this business because it delivers a small, but virtually guaranteed profit and it also gives them access to the premium fund accounts which they can invest and keep some or all of the gains from depending on their legal structure. Every state recognized long ago if they didn't regulate the business like this it would act like a monopoly and charge a lot more money than they are allowed to under regulation.

[dexter75]

Originally Posted by Willy702

Most kinds of insurance are highly regulated in every state, they can't just charge whatever they'd like to the collective group of insureds. If the premiums collected are too high over time to pay out claims they are required to lower their rates and vice versa if they didn't collect enough premiums. Its a set formula that you can look up if you want. The rate charts are also required to be filed and the public can look through them online. Its a lot of numbers and I doubt anyone wants to look through these, but its there to see if you so choose.

If insurance is higher its because claims paid have been higher. The insurance companies are in this business because it delivers a small, but virtually guaranteed profit and it also gives them access to the premium fund accounts which they can invest and keep some or all of the gains from depending on their legal structure. Every state recognized long ago if they didn't regulate the business like this it would act like a monopoly and charge a lot more money than they are allowed to under regulation.

Thank you. This makes more sense than most the other responses I got.

[timberline742]

Originally Posted by dexter75

CA has at least 5 times the number of thefts, property crimes and accidents as NV. There are over 3 times as many people in LA county alone as the entire state of NV. Makes zero sense but oh well.

CA has over 10x as many people. More like 12x. If it only has 5x the number of thefts/crimes/etc, then California is better off. Basic per capita math. Sounds like California is much less dangerous, by your numbers.