Wish you could get out of an expensive auto insurance policy? You're preaching to the choir because there are lots of Reno residents who feel the same.
It's hard to believe, but the majority of drivers kept their coverage with the same auto insurance company for a minimum of four years, and nearly the majority have never taken the time to shop around. With the average auto insurance premium being $1,600, Nevada drivers could save an average of $545 each year just by comparing rates, but they just feel it's too hard to go online and compare rates. Many car insurance companies compete to insure your vehicles, so it's not easy to compare every company to get the best rate on auto insurance.
Smart consumers take time to price shop coverage occasionally because auto insurance prices trend upward over time. If you had the lowest rates on auto insurance a few years ago the chances are good that you can find a lower rate quote today. Ignore everything you know about auto insurance because you're about to find out one of the best ways to reduce your cost while improving coverage.
If you're already insured or are looking for a new policy, you can use this information to find better prices without reducing coverage. Buying the cheapest car insurance in Reno is actually quite simple. Shoppers just need to know the proper way to compare different rates online.
Car insurance companies in Reno
The car insurance companies shown below are our best choices to provide comparison quotes in Reno, NV. If multiple providers are shown, we suggest you visit several of them to get a more complete price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LS 2WD||$798||$399||$67|
|Chevrolet Silverado LTZ Extended Cab 2WD||$930||$465||$78|
|Dodge Ram Crew Cab ST 2WD||$888||$444||$74|
|Ford Escape XLT 4WD||$948||$474||$79|
|Ford Explorer Eddie Bauer AWD||$816||$408||$68|
|Ford F-150 XLT Super Cab 4WD||$694||$347||$58|
|Ford Focus SE 4-Dr Sedan||$1,022||$511||$85|
|Honda Accord LX-P 4-Dr Sedan||$700||$350||$58|
|Honda CR-V EX-L 4WD||$918||$459||$77|
|Honda Civic GX 4-Dr Sedan||$1,068||$534||$89|
|Hyundai Elantra Blue 4-Dr Sedan||$1,004||$502||$84|
|Kia Optima SX||$1,072||$536||$89|
|Nissan Altima 2.5 4-Dr Sedan||$972||$486||$81|
|Nissan Rogue SL 2WD||$1,096||$548||$91|
|Toyota Camry XLE||$768||$384||$64|
|Toyota Corolla XRS||$1,002||$501||$84|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,098||$549||$92|
|Get Your Own Custom Quote Go|
Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Table data does not factor in Reno location which can increase or decrease prices significantly.
Drive responsibly or pay higher rates
The chart below demonstrates how traffic citations and at-fault claims influence Ford F-150 annual premium costs for each age group. The prices are based on a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.
Ford F-150 rates are for example purposes only. To get rates for your specific vehicle, click here.
Higher deductibles lower rates
The illustration below highlights how deductible selection and can change Honda Accord insurance rates for different age groups. The premiums are based on a married female driver, comp and collision included, and no discounts are taken into consideration.
Honda Accord rates are for example purposes only. To get rates for your specific vehicle, click here.
Should you raise deductibles?
One of the most common auto insurance questions is which deductibles should you choose. The figures shown below show the rate differences when you choose different physical damage deductibles. The first set of rates uses a $250 deductible for comp and collision and the second price grid uses a $500 deductible.
GMC Acadia rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Acadia SL 2WD||$208||$330||$308||$18||$92||$981||$82|
|Acadia SL AWD||$238||$330||$308||$18||$92||$1,011||$84|
|Acadia SLE 2WD||$238||$330||$308||$18||$92||$1,011||$84|
|Acadia SLE AWD||$238||$402||$308||$18||$92||$1,083||$90|
|Acadia SLT 2WD||$238||$402||$308||$18||$92||$1,083||$90|
|Acadia SLT AWD||$268||$402||$308||$18||$92||$1,113||$93|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Acadia SL 2WD||$168||$266||$308||$18||$92||$852||$71|
|Acadia SL AWD||$194||$266||$308||$18||$92||$878||$73|
|Acadia SLE 2WD||$194||$266||$308||$18||$92||$878||$73|
|Acadia SLE AWD||$194||$324||$308||$18||$92||$936||$78|
|Acadia SLT 2WD||$194||$324||$308||$18||$92||$936||$78|
|Acadia SLT AWD||$218||$324||$308||$18||$92||$960||$80|
|Get a Quote for Your Vehicle Go|
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Nevada minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can revise auto insurance rates considerably.
We can estimate from the data above that using a $250 deductible will cost in the ballpark of $11 more each month or $132 a year than requesting the higher $500 deductible. Due to the fact that you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to have at a minimum 23 months between claim filings, you would more than likely save some money if you choose a higher deductible.
How to calculate if a higher deductible is a good decision
|Average monthly premium for $250 deductibles:||$87|
|Average monthly premium for $500 deductibles (subtract):||- $76|
|Monthly savings from raising deductible:||$11|
|Difference between deductibles ($500 - $250):||$250|
|Divide difference by monthly savings:||$250 / $11|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||23 months|
Get discounts to get affordable Reno car insurance rates
Insurance can be prohibitively expensive, but there may be some discounts that can drop the cost substantially. Certain discounts will be applied when you complete an application, but a few must be asked about prior to getting the savings.
- Passive Restraints - Factory options such as air bags or automatic seat belts can qualify for discounts of 20% or more.
- College Student Discount - Children who live away from home to go to college and won't have access to an insured vehicle may be able to be covered for less.
- Save with More Vehicles Insured - Buying coverage for multiple vehicles on one policy can reduce rates for all insured vehicles.
- Discount for Life Insurance - Larger car insurance companies have better prices if you take out some life insurance too.
- Buy New and Save - Buying a new car model can save up to 30% because newer vehicles keep occupants safer.
- Organization Discounts - Belonging to qualifying employment or professional organizations may earn a discount on car insurance.
- Safety Course Discount - Successfully completing a driver safety course is a good idea and can lower rates and also improve your driving technique.
- First Accident Forgiveness - This one isn't a discount, but some insurance companies will let one accident slide before raising your premiums as long as you don't have any claims for a particular time prior to the accident.
A quick disclaimer, most of the big mark downs will not be given to all coverage premiums. Some only apply to the price of certain insurance coverages like comp or med pay. If you do the math and it seems like you could get a free car insurance policy, nobody gets a free ride. Any qualifying discounts will help lower your car insurance premiums.
A partial list of companies that have these money-saving discounts may include but are not limited to:
Before you buy a policy, ask every prospective company which discounts can lower your rates. Some credits may not apply everywhere. If you would like to see a list of companies that offer multiple discounts in Reno, click this link.
Buying insurance from Reno auto insurance agents
Many drivers just prefer to talk to an insurance agent and that can be a smart move Experienced insurance agents are trained to spot inefficiencies and will help you if you have claims. The best thing about comparing insurance online is that you can find lower car insurance rates and still have a local agent.
Once you complete this simple form, the coverage information is transmitted to companies in Reno who want to provide quotes and help you find cheaper coverage. It simplifies rate comparisons since you won't have to even leave your home as quotes are delivered to you instantly. In the event you want to quote rates for a specific company, you can always visit that company's website and submit a quote form there.
Finding the right insurer should include more criteria than just a cheap quote. Here are some questions to ask:
- Does their agency support local causes in Reno?
- Will one accident increase rates?
- How long has the business existed?
- Are they full-time agents?
- Is coverage determined by price?
- Can they give you a list of client referrals?
If you are searching for a local agent, there are two types of insurance agents and how they differ in how they quote coverages. Insurance agencies are categorized either independent or exclusive. Both types of agents can provide insurance policies, but it's a good idea to understand the difference in how they write coverage because it can impact buying decisions.
These agents are contracted to one company and examples are AAA, Allstate, State Farm, or Farmers Insurance. They are unable to compare rates from other companies so they have to upsell other benefits. Exclusive agents are usually well trained on what they offer which helps offset the inability to provide other markets.
The following is a list of exclusive agents in Reno who can help you get price quote information.
Independent Insurance Agents
Agents that choose to be independent can quote rates with many companies so they can insure your vehicles with any number of different companies and find the cheapest insurance rates. If they quote lower rates, your agent can switch companies and the insured can keep the same agent. If you are comparing insurance prices, you should always check rates from several independent insurance agents in order to have the best price comparison.
Shown below are independent insurance agents in Reno who can help you get price quotes.
Tricks in car insurance advertising
Consumers can't get away from ads for car insurance savings by Allstate, GEICO and Progressive. They all convey the message that drivers will save a bundle if you switch your car insurance coverage to their company.
How can each company have lower policy pricing? It's all in the numbers.
All the different companies can use profiling for the type of customer that earns them a profit. For example, a profitable customer should be between the ages of 30 and 50, is a homeowner, and has a short commute. Anybody that fits those parameters may get the lowest premium rates in Reno as well as cut their car insurance rates if they switch.
Insureds who don't meet this stringent profile may be forced to pay more expensive rates and this results in the prospect going elsewhere. The wording the ads use say "customers who switch" not "everyone who quotes" save that much money. That is how insurance companies can make the claims of big savings. Because of these techniques, you really need to compare quotes as often as possible. It's just not possible to know the company that will have the best prices for your profile.
Don't give up on cheaper rates
Throughout this article, we presented quite a bit of information on how to find cheaper coverage online. The key thing to remember is the more quotes you get, the better your comparison will be. Consumers could even find that the lowest priced insurance comes from a company that doesn't do a lot of advertising. These companies often have lower rates on specific markets than their larger competitors like Allstate and Progressive.
As you go through the steps to switch your coverage, don't be tempted to buy less coverage just to save a little money. There are many occasions where an insured dropped full coverage only to discover later that their decision to reduce coverage ended up costing them more. The ultimate goal is to get the best coverage possible at the best cost while still protecting your assets.
Even more information can be found in the articles below:
- Choosing an Insurance Company (Insurance Information Institute)
- Who Has Cheap Car Insurance Rates for Active Military in Nevada? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Business Use in Nevada? (FAQ)
- How Much are Nevada Auto Insurance Rates for Drivers Under 21? (FAQ)
- Who Has Affordable Nevada Car Insurance Rates for a Ford F-150? (FAQ)
- What Auto Insurance is Cheapest for Homeowners in Nevada? (FAQ)
- Who Has Cheap Nevada Auto Insurance for Drivers with Good Credit? (FAQ)
- Who Has Cheap Nevada Auto Insurance for a Honda Civic? (FAQ)
- What Insurance is Cheapest for Handicapped Drivers in Nevada? (FAQ)
- How Much is Nevada Auto Insurance for Low Credit Scores? (FAQ)
- Understanding your Policy (NAIC.org)
- Vehicle Size and Weight FAQ (iihs.org)
- Distracted Driving Extends Beyond Texting (State Farm)
- Keeping Children Safe in Crashes Video (iihs.org)