The words "bargain" and "insurance" really don't belong together, in particular when searching for the cheapest coverage for teachers. To save some money, let's take a look at a few of the factors that can significantly affect insurance rates, and figure out some ways to take a little off your next policy.
For teachers and educators, one of the more important criteria that determine the price you pay for insurance is where you keep your car in Nevada. More populated areas like Winchester, Sunrise Manor, and Las Vegas likely pay more, whereas less populated areas benefit from lower prices.
The information below ranks the most costly cities in Nevada for teachers in which to buy car insurance.
|Rank||City||Average Per Year|
|6||North Las Vegas||$1,900|
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Rates are approximated as specific Nevada zip code can lower or raise rates significantly.
The car, truck, or SUV you are trying to insure is probably the most important factor in finding the lowest-priced car insurance for teachers. Vehicles with higher performance characteristics, poor crash test ratings, or an increased likelihood of liability claims will cost significantly more to insure than safer models. The next list ranks auto insurance costs for a number of the cheaper vehicles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$669|
|Ford Escape XLT 2WD||$678|
|Dodge Grand Caravan CV||$749|
|Ford Explorer XLT 4WD||$759|
|Honda CR-V LX 2WD||$756|
|Volkswagen Jetta SE 2.5 Station Wagon||$784|
|Chevrolet Equinox LT AWD||$791|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$817|
|Ford Edge Sport 2WD||$833|
|Honda Odyssey EX-L W/Navigation||$838|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$848|
|Chevrolet Impala LT||$867|
|Ford Fusion S 4-Dr Sedan||$872|
|Toyota RAV4 Limited 2WD||$867|
|Dodge Ram Quad Cab ST 2WD||$880|
|Dodge Ram 3500 Crew Cab ST 2WD||$886|
|Ford Focus SE 2-Dr Coupe||$892|
|GMC Sierra SL Extended Cab 2WD||$902|
|Toyota Camry Hybrid||$907|
|Ford F-150 Lariat Crew Cab 2WD||$913|
|Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD||$922|
|Kia Optima LX||$928|
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Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Table data does not factor in specific Nevada garaging location which can influence premiums greatly.
By looking at the data, cars like the Honda Accord, Ford Escape, Toyota Prius, and Dodge Grand Caravan are most likely to be the cheaper vehicles to insure for teachers and educators.
Full coverage rates compared to liability only
Saving money on auto insurance is important to most people, and one common way to buy cheap insurance for teachers in Nevada is to not pay for full coverage. The information below visualizes the comparison of car insurance costs with full coverage and liability only. The price estimates are based on no claims, a clean driving record, $1,000 deductibles, marital status is single, and no policy discounts are applied.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs an extra $1,751 per year more than carrying just liability coverage. That may make you wonder if buying full coverage is a waste of money. There is no definitive guideline of when to drop comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let's assume your vehicle's book value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $3,000 after paying your deductible. If you are paying in excess of $300 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
The information below demonstrates how deductible levels can impact insurance costs when trying to find cheap insurance for teachers in Nevada. The rates are based on a single female driver, full coverage, and no discounts are applied.
In the chart above, a 30-year-old driver could lower rates by $336 a year by increasing from a $100 deductible up to a $500 deductible, or save $504 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old example, could save up to $744 annually by choosing a larger deductible amount. When insureds make the decision to increase the deductibles on their policy, it will be necessary to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Are you paying too much for car insurance in Nevada?
Nevada auto insurance rates are based on many factors that control the price you have to pay. Simply turning a year older, marrying your spouse, or getting a few speeding tickets may cause policy rate changes that can cause some rates to be more affordable than others. Not only that, but car insurance companies change premium rates as often as every quarter in order to remain profitable. Higher than normal claim frequency or severity may cause higher priced premiums, while better underwriting may result in cheaper Nevada car insurance rates.
For instance, the bar chart below shows the companies that have the cheapest car insurance in Nevada for a 35-year-old male driver with no accidents or violations, and great credit. If we compare prices based on his personal profile, Travelers offers the most affordable car insurance rates in Nevada at $903 per year. This is $671 less than the average price paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family round out the rest of the best Nevada auto insurance companies.
The chart below compares rates after we give the driver in the first chart an at-fault accident, a lower credit score, and a speeding citation. Since each auto insurance company has a different formula for determining rates in each state, comparing insurance quotes may now present a significantly different list of the cheapest car insurance companies in Nevada as shown below.
GEICO now has the best price on car insurance in Nevada with USAA, Nationwide, Allied, and Safeco also being competitive. This shows why it is so important to compare many different companies when trying to find the most budget-friendly car insurance rates for teachers.
Prices are impacted by many factors and change substantially, so the cheapest option three years ago may now cost much more than other companies.