You've seen the catchy commercials from car insurance companies like Progressive and Farmers guaranteeing enormous savings. So drivers just need to choose one randomly, right?
That is not the case, however, as there are a ton of unknown factors like the amount of liability coverage you want, whether you are male or female, and if you are married. We know insurance is not everyone's favorite topic, but in this article we will cover the different ways to avoid overpaying and should give you a good beginning to your search for cheaper coverage.
For hybrids, one of the largest criteria that are looked at to determine car insurance rates is your zip code in Nevada. Areas with more people or higher crime rates like Winchester, Sunrise Manor, and Las Vegas will most likely pay more, whereas areas with less crime or weather claims profit from lower rates.
The table below ranks the most expensive areas in Nevada for hybrid vehicles in which to purchase auto insurance.
|6||North Las Vegas||$1,882|
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Information shown are approximated as the specific geographic location can influence premiums significantly.
The type of vehicle requiring coverage is probably the largest consideration when looking for affordable auto insurance for hybrid vehicles. Vehicles with limited speed and performance, excellent safety ratings, or a positive history of liability claims will cost less to insure than fast, unsafe models.
The list below shows coverage rates for a handful of the most economical automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$747|
|Jeep Wrangler Rubicon 4WD 2-Dr||$749|
|Ford Escape XLS 2WD||$756|
|Ford Focus SE 4-Dr Sedan||$776|
|Ford Edge SE AWD||$781|
|Volkswagen Jetta SE 2.5 Station Wagon||$784|
|GMC Sierra SL Extended Cab 2WD||$791|
|Honda Accord EX-L 4-Dr Sedan||$817|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$865|
|Toyota RAV4 Limited 4WD||$867|
|Ford Explorer Eddie Bauer 4WD||$883|
|Chevrolet Impala LT||$892|
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Data 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 safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Rates do not factor in Nevada location which can increase or decrease rates substantially.
Based upon these rates, models like the Toyota Prius, Honda CR-V, Jeep Wrangler, Ford Escape, and Ford Focus are likely to be some of the less-costly vehicles to insure for hybrids.
Determining which company quotes the cheapest insurance rates for hybrid vehicles in Nevada may require a bit more effort than just getting one or two price quotes.
Each auto insurer has their own guidelines to set premium rates, so let's rank the insurance companies with the most affordable rates in Nevada.
Lowest Insurance Price Quotes for Hybrids
|Rank||Company||Cost Per Year|
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Travelers quotes some of the cheapest car insurance rates in Nevada at around $930 annually. Allied, Capital, Oregon Mutual, and Progressive also rank well as some of the lowest-priced Nevada insurance companies.
As the example above demonstrates, if you are currently insured with Allied and switched to Travelers, you could see savings of upwards of $19. Drivers with Capital may save as much as $88 a year, and Oregon Mutual customers might realize rate reductions of up to $252 a year.
To see if you're overpaying, click here to get a free quote or click several companies below for low rates.
Bear in mind that those estimates are averaged across all ages of drivers and types of vehicles and do not factor in a price discount for hybrid vehicles. So the insurer that has the lowest price for you may not even be in the list above. That affirms the importance of why you need to quote rates from many companies using your own individual information.
Should you buy full coverage?
Paying less for insurance should be important to the majority of drivers, and an effective way to find cheap insurance for hybrid vehicles in Nevada is to only buy liability coverage. The illustration below visualizes the comparison of car insurance rates with full physical damage coverage and with liability coverage only. The premiums assume no claims or driving citations, $1,000 deductibles, single marital status, and no other discounts are factored in.
If averaged for all ages, full coverage costs an extra $1,751 per year over and above liability only. At some point, about every driver wonders if it's worth it to buy full coverage. There is no exact rule that works best for making the decision to drop full coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the vehicle's replacement cost less your deductible, then you might want to think about dropping full coverage.
For example, let's assume your vehicle's claim settlement value is $10,500 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $9,500 after paying the physical damage deductible. If you are paying more than $950 annually for your policy with full coverage, then it could be time to drop full coverage.
Insuring your vehicle with a high-quality auto insurance provider is difficult considering how many choices you have in Nevada. The information shown below can help you select which coverage providers you want to consider shopping prices with. These rankings are for the largest companies in the United States, so companies with more of a regional focus are not taken into consideration for this list.
Top 10 Major Auto Insurance Providers in Nevada Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
Top 10 Major Auto Insurance Providers in Nevada Ranked by Claims Service
- State Farm
- AAA Insurance
- Liberty Mutual
- Titan Insurance
- The Hartford
- Mercury Insurance
Careless Nevada drivers pay higher rates
In a perfect world, the best way to find affordable insurance premiums for hybrids is to drive safely and avoid at-fault accidents and violations. The diagram below shows how traffic citations and fender-benders raise insurance rates for each different age category. The premiums assume a single female driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.
The data charted above shows the average cost of auto insurance per year with no violations or accidents is $1,846. Factor in two speeding tickets and the average cost jumps to $2,470, an increase of $624 each year. Then include one accident along with the two speeding tickets and the 12-month cost of insurance for hybrid vehicles in Nevada jumps again to an average of $3,110. That's an increase of $1,263, or $105 per month, just for being a careless driver!
Low rates today, overpriced tomorrow
Nevada insurance rates are influenced by many factors which can substantially change the price you have to pay for coverage. Simply having a birthday, buying a home instead of renting, or getting a speeding ticket can cause premium changes that can cause some rates to be more affordable than others.
In addition, insurance companies file new Nevada auto insurance rates at least once a year to help ensure profitability. Significantly higher losses may result in more expensive premiums, while lower claim expenses can cause cheaper Nevada car insurance rates.
As an example, the chart below shows the company with the cheapest car insurance in Nevada for a 30-year-old male driver with no prior accidents, a clean driving record, and solid credit. When quoting prices based on his personal risk profile, Travelers might offer the best car insurance rates in Nevada at $912 a year. This is $662 less than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive round out the rest of the most affordable Nevada auto insurance companies.
In this example, we will give the driver from above some claims, bad credit, and a few blemishes on his driving record. Since each auto insurer has a unique approach to determine rates, analyzing rate quotes may now result in a slightly different list of cheap Nevada auto insurance companies as shown below.
GEICO now has the lowest price in Nevada with Safeco, USAA, Capital, and Nationwide also being competitive. This example illustrates why it is crucial to compare rates when trying to find the most budget-friendly insurance rates for hybrid vehicles.
Car insurance prices are calculated by many different factors and change substantially, so the most economical option a year ago may now be priced much higher than other options.