Deciphering which companies quote the cheapest insurance rates for college graduates in Nevada will require a little more work than just getting one or two price quotes. Every car insurance company has their own unique process for establishing rates, so let's take a look at the most competitive insurance companies in Nevada.
Compare Cheap Insurance Quotes for Grads
|Rank||Company||Cost Per Year|
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Travelers normally has some of the cheapest car insurance rates in Nevada at around $939 a year. Allied, Capital, Oregon Mutual, and American Family also make the cut as some of the best Nevada insurance companies.
As shown in the table above, if you are a customer of American Family and switched to Allied, you could earn an annual premium reduction of roughly $233. Nevada drivers with Progressive may save as much as $277 a year, and GEICO customers might reduce prices by as much as $320 a year.
Understand that those premiums are averages across all types of insureds and vehicles and are not factoring in a price discount for college graduates. So the insurer that can offer you the best rate may not even be in the list above. That is why you need to compare rates from multiple companies using your own personalized driver profile and vehicle information.
One of the many things that aid in calculating the annual cost of car insurance is the neighborhood you call home. Larger areas like Winchester, Sunrise Manor, and Las Vegas will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims benefit from having to pay less for coverage.
The next table ranks the priciest cities in Nevada for college graduates in which to buy car insurance.
|Rank||City||Average Per Year|
|6||North Las Vegas||$1,882|
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Prices are approximated as the garaging address in Nevada can revise coverage rates noticeably.
The vehicle requiring coverage is one of the largest considerations when consumers are trying to find the most affordable car insurance for college graduates. Vehicles with more horsepower, poor safety features, or a history of substantial liability claims will cost substantially more to insure than more economical and safe models.
The information below ranks auto insurance premiums for some of the cheapest vehicles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$669|
|Honda CR-V LX 2WD||$756|
|Toyota Camry LE||$791|
|Honda Accord EX-L 4-Dr Sedan||$795|
|Dodge Grand Caravan CV||$819|
|Ford F-150 XL Super Cab 2WD||$832|
|Hyundai Elantra SE 4-Dr Sedan||$833|
|Toyota Corolla XLE||$840|
|Chevrolet Impala LS||$850|
|Dodge Ram Crew Cab TRX 2WD||$865|
|Honda Odyssey EX||$872|
|Ford Edge Limited 2WD||$881|
|Ford F-350 Super Cab Lariat 2WD||$880|
|Toyota RAV4 Limited 2WD||$892|
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Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Information does not factor in specific garaging location which can change coverage prices noticeably.
Looking at the rates, models like the Ford Escape, Toyota Prius, Honda CR-V, Toyota Camry, and Honda Accord should be the most economical vehicles to insure for college grads.
Selecting a high-quality car insurance provider can be rather challenging considering how many choices you have in Nevada. The ranking information shown below could help you analyze which companies to look at comparing prices from.
These ratings are for companies with a national presence, so smaller companies are not included in this list. If you wish to compare rates from the most competitive companies in Nevada, follow this link.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Careless Nevada drivers pay higher rates
The best way to score low insurance premiums in Nevada for college grads is to be an attentive driver and not receive tickets or have accidents. The diagram below shows how traffic citations and accident claims impact annual premium costs for different ages of insureds. The data is based on a single male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.
In the previous chart, the average cost of auto insurance in Nevada per year with no violations or accidents is $1,969. Add in two speeding tickets and the average cost swells to $2,619, an increase of $650 each year. Now add in one accident along with the two speeding tickets and the 12-month cost of insurance for college graduates in Nevada goes up to an average of $3,271. That's an increase of $1,302, or $108 per month, just for not driving attentively!
Why are you paying too much for car insurance?
Nevada insurance rates are impacted by many things that will increase or decrease the price you have to pay. Simply turning a year older, buying higher coverage limits, or getting a speeding ticket may cause policy rate changes that can now make some companies much cheaper than others. Additionally, car insurance companies modify pricing every year or even multiple times each year to help ensure profitability. Significantly higher claims may result in rate increases, while better underwriting may result in more affordable Nevada car insurance rates.
As an example, the graph below shows rates for the cheapest car insurance in Nevada for a 45-year-old female driver with no accidents or violations, and a good credit history. If we look at prices based on her current risk profile, Allied might quote the cheapest car insurance rates in Nevada at $921 annually. This is $653 less than the average premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family are the remaining cheapest Nevada auto insurance companies.
The example below compares rates after we give the driver in the first chart a claim surcharge, less-than-perfect credit, and a few blemishes on her driving record. Since every car insurance company has their own formula to set their prices, analyzing rates may result in a slightly different list of affordable Nevada car insurance companies as shown below.
GEICO now has the lowest car insurance rate in Nevada with Safeco, USAA, Nationwide, and Capital now being in the top five. This demonstrates why it is important to compare rates when trying to find the cheapest auto insurance rates for college graduates.
Insurance prices are determined by many risk factors and change substantially, so the cheapest company the last time you compared rates may now cost much more than other companies.