LAS VEGAS (KTNV) — Have you been tracking car insurance rates lately? Well, they are sky high.
One expert tells me the high prices are causing many to go uninsured or have minimum coverage.
WATCH: Ryan Ketcham talks to one local who's trying to make ends meet after becoming disabled from a crash
“It’s very unfortunate," said Luxury Fitted Hats Owner Ricky Jackson Jr.
Ricky calls Las Vegas home.
“Born & raised, 1982," said Jackson Jr.
He has three girls.
“My oldest daughter is Annette, Mia and Leary," said Jackson Jr.
Ricky is a single father, a local Uber driver and a business owner.
“I’m actually a hat maker, I’ve been in the business for over almost 15 - 20 years now," said Jackson Jr.
About 15 years ago, his life changed forever.
“The accident I was in was a three-car accident, one fatality off of Charleston and 95," said Jackson Jr. “I have lumbar fusion, interbody lumbar fusion, so my lower back pretty much has been reconstructed with artificial disks and rods and pacers and stuff like that.”
Ricky is now disabled and trying to make it by.
Unfortunately, he, too, is facing high car insurance costs.
I asked Ricky how much he is paying for car insurance.
“Almost about $700 per month and I’m currently with Allstate," said Jackson Jr.
I then asked him if he could afford that high price.
"I make it work. I sell a lot of hats and I do a lot of Uber," said Jackson Jr.
Ricky has to work more just to afford it.
“I’m doing about 18-20 hours a day with both," said Jackson Jr.
A similar position may find themselves in.
“Average rates have been up about 56% nationwide, in Nevada, in some cases, even higher," said Owner and managing partner at The MultiCare Group, Patrick Casale.
He says locals are paying around $200 - $300 per month on average for minimum coverage, and around $600 per month for maximum coverage. A high rate nationwide.
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“About 25% higher than Nye County in Clark, on a national level in can be anywhere from double or more," said Casale.
These costs are leading to people going uninsured.
“The uninsured market is about 10-20% average, as far as underinsured, I’d say about 50 to 60% and the obvious reason is because of cost," said Casale.
He tells me there are several factors leading to increased insurance costs, including inflation, poor driving, crashes and even natural disasters nationwide, leading to a bump in premiums.
How can you lower your costs, though?
He tells me you can customize your plan, shop around for the best deals, plus you can focus on portions of your insurance plan like property damage liability over collision to protect yourself.
Casale tells me the collision insurance covers your vehicle even if it's your fault, but he says if it's the other driver's fault, then their insurance would cover any replacement repairs.
He says the most important thing is to be insured, no matter how minor the plan.
Ricky tells me that's the best way to protect yourself and others.
“I’d rather save a life than save a few dollars; life is too short," said Jackson Jr.
