For eco-friendly vehicles, one of the big things that aid in calculating the annual cost of car insurance is your zip code. Cities with larger populations like Winchester, Spring Valley, and Las Vegas will most likely pay more, whereas areas that tend to be more rural get the luxury of paying less.
The illustration below shows the most expensive cities in Nevada for electric cars to buy car insurance in.
|Rank||City||Premium Per Year|
|7||North Las Vegas||$1,844|
|Compare Rates Now Go|
Information shown are approximated as zip code location can modify coverage rates significantly.
Deciding which companies quote the cheapest car insurance rates for electric cars in Nevada calls for a bit more effort in order to find the most economical policy. Every insurance company has their own process for establishing rates, so let's take a look at the most budget-friendly car insurance companies in Nevada.
We do need to point out that Nevada car insurance rates are based on many factors which can substantially decrease or increase the cost of a policy. Improving your credit rating, becoming a homeowner, or getting a ticket for careless driving can produce rate changes resulting in some companies being more affordable than the competition.
Best Car Insurance Prices for EV's
|Rank||Company||Cost Per Year|
|Compare Rates Now Go|
Travelers has some of the most affordable car insurance rates in Nevada at around $912 each year. Allied, Capital, Oregon Mutual, and Progressive are also some of the more affordable Nevada auto insurance companies.
In the rate table above, if you currently buy coverage from Capital and switched to Travelers, you might realize an annual premium reduction of around $76. Customers with Oregon Mutual could save as much as $235 a year, and Progressive policyholders might lower prices by up to $290 a year.
It's important to note that these prices are averages for all types of drivers and the different vehicles they drive and do not take into consideration a rate discount for electric cars. So the insurer that is most affordable for your situation may not even be in the top 20 companies in the list above. That underscores the importance of why you need to compare as many prices as possible using your own specific driver information and vehicle.
Liability rates compared to full coverage
Reducing premiums for car insurance is probably important to most drivers, and a good way to lower the cost of insurance for electric cars in Nevada is to not pay for full coverage. The chart below compares yearly insurance costs with full physical damage coverage compared to only buying liability only. The premiums assume no claims or violations, $1,000 deductibles, drivers are not married, and no discounts are applied.
Averaged for all ages 20 through 70, physical damage coverage on your policy costs an extra $1,751 per year more than carrying just liability coverage. At some point, about every driver wonders when is the right time to remove full coverage. There is no exact rule of when to eliminate physical damage insurance, but there is a general guideline. If the yearly cost of comp and collision coverage is more than 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let's pretend your vehicle's claim settlement value is $8,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $7,500 after the deductible is paid. If it's costing you more than $750 annually to have full coverage, then it could be time to drop full coverage.
Selecting the highest-rated car insurance provider can be a challenge considering how many different companies insure vehicles in Nevada. The information shown next could help you analyze which auto insurance companies you want to consider when trying to find the cheapest insurance for electric cars.
The rankings below include insurance companies that insure vehicles in the majority of U.S. states, so companies that may only write in Nevada will not be included in the list. To check rates from these and other companies in Nevada, simply click here.
Top 10 Major Auto Insurance Providers in Nevada Ranked by A.M. Best Rating
- USAA - A++
- Travelers - A++
- GEICO - A++
- State Farm - A++
- The Hartford - A+
- Esurance - A+
- Nationwide - A+
- Allstate - A+
- Mercury Insurance - A+
- Titan Insurance - A+
Top 10 Major Auto Insurance Providers in Nevada Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
The importance of shopping around
Nevada car insurance rates are impacted by many factors that can increase the price you pay for coverage. Simply having a birthday, marrying your spouse, or getting caught speeding can trigger price changes resulting in some companies being more affordable than competitors. Not only may your risk profile change, but insurance companies change prices without warning in order to offset underwriting gains or losses. Significantly higher claims may cause higher priced premiums, while less frequent claims may cause cheaper Nevada car insurance rates.
As an example, the data below shows which company has the cheapest car insurance in Nevada for a 35-year-old male driver with no prior claims, no tickets, and solid credit. If we look at prices based on his personal profile, Travelers might offer the lowest car insurance rates in Nevada at $903 annually. This is $671 less than the average policy premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family are the remaining most affordable Nevada auto insurance companies.
Now we will give the driver in the first example a chargeable claim, less-than-perfect credit, and a speeding ticket. Since every insurance provider uses their own calculation for setting rates, getting updated rate quotes may now show a substantially altered list of companies as shown below.
GEICO now has the lowest price on auto insurance in Nevada with USAA, Nationwide, Capital, and Safeco also being competitive. This example demonstrates why it is important to compare lots of rates to get the most budget-friendly insurance rates for electric cars. Insurance rates are impacted by many risk factors and change dramatically, so the cheapest option the last time you shopped your coverage around may now be wasting a lot of money.
How to find low-cost auto insurance for electric cars in Nevada
It is possible to find better rates, and here are a few thrifty ideas that can help drivers get low-cost coverage.
- Raise your physical damage coverage deductibles
- Improve your credit score
- Having at-fault accidents will increase rates
- Older vehicles may not need full coverage
- Vehicles with safetly features generally cost less to insure
- Drive safely
- Ensure you have the best deal by shopping around regularly
That last idea is extraordinarily critical, as we stressed in the prior information. Insurance prices can be adjusted at any time, so don't be afraid to change to a new company if a cheaper price is available. Many consumers stick with the same company and that's fine, but it isn't a good idea if that inflexibility results in costing you big bucks every year. If you have a few minutes, now is a great time to compare prices to find cheaper insurance for electric cars.