The words "low-cost" and "insurance" probably shouldn't be used together, especially when shopping around for the lowest insurance rates for homeowners. Let's open your eyes to a few of the factors the can have a considerable influence on insurance rates, and figure out some ideas to take the bite out of the next policy you buy.
The vehicle model needing coverage is probably the biggest factor when quoting the best car insurance for homeowners. Vehicles with lower acceleration and performance, advanced safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models.
The data below presents coverage costs for the cheapest vehicles to insure in Nevada.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$669|
|Ford F-150 XLT Super Cab 2WD||$749|
|Dodge Grand Caravan CV||$756|
|Honda CR-V LX 4WD||$756|
|Honda Accord LX 4-Dr Sedan||$763|
|Ford Focus SE 4-Dr Sedan||$776|
|Chevrolet Impala LT||$791|
|Toyota RAV4 4WD||$799|
|Chevrolet Malibu LS||$791|
|Volkswagen Jetta S 4-Dr Sedan||$798|
|Hyundai Elantra SE Touring Station Wagon||$817|
|Toyota Camry XLE||$833|
|Nissan Rogue S AWD||$850|
|Ford Explorer XLT AWD||$852|
|Jeep Grand Cherokee Laredo 4WD||$867|
|Honda Civic SI 4-Dr Sedan||$876|
|Toyota Tacoma Double Cab 4WD||$892|
|Chevrolet Equinox LT AWD||$901|
|Nissan Altima 2.5 4-Dr Sedan||$892|
|Toyota Camry Hybrid||$907|
|Ford F-250 XL Crew Cab 2WD||$915|
|Dodge Ram 3500 Mega Cab SLT 2WD||$922|
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Rate information does not factor in vehicle location which can increase or decrease insurance rates greatly.
By looking at the data, you can infer that vehicles like the Ford Escape, Toyota Prius, and Ford F-150 will definitely be some of the most budget-friendly vehicles to insure for people who own their homes.
Finding out which companies offer the cheapest car insurance rates for homeowners in Nevada will involve a bit more work in order to find the most economical policy.
Every insurance company has a different process to determine rates, so let's look at the rankings for the overall cheapest car insurance companies in Nevada.
Best Insurance Companies for Homeowners
|Rank||Company||Cost Per Year|
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Allied quotes some of the most affordable car insurance rates in Nevada at around $911 a year. This is $663 less than the average policy premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family also are some of the lowest-priced Nevada car insurance companies.
As illustrated above, if you are currently insured with Oregon Mutual and switched to Allied, you might realize an annual premium reduction of upwards of $247. Drivers with American Family could save as much as $307 a year, and Progressive policyholders might lower prices by up to $315 a year.
To get a fast rate comparison, click here to get quotes or feel free to get quotes from the companies below.
These prices are averaged for all types of insureds and vehicles and do not factor in a rate discount for homeowners. So the car insurance company that fits you best may not even be in the top 20 companies shown above. That helps illustrate why you need to compare rates from multiple companies using your own driver and vehicle profiles.
How to get discounts on Nevada insurance rates
Car insurance companies that offer quotes for homeowners may provide premium discounts that could lower prices by as much as 35% if you are eligible to receive them. A few of the larger companies and their offered discounts are shown below.
- Farmers Insurance may have discounts that include bundle discounts, youthful driver, homeowner, switch companies, and good student.
- State Farm discounts include safe vehicle, multiple autos, anti-theft, good driver, and driver's education.
- Liberty Mutual policyholders can earn discounts including exclusive group savings, new move discount, safety features, multi-car, newly retired, and good student.
- MetLife has savings for good student, defensive driver, good driver, claim-free, multi-policy, accident-free
- Progressive includes discounts for good student, online quote discount, multi-policy, homeowner, online signing, and continuous coverage.
The information below illustrates the difference between insurance rates with and without discounts applied to the rates. The data assumes a female driver, no tickets, no at-fault accidents, Nevada state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with marriage, passive restraint, defensive driving course, multiple policy, safe-driver, and vehicle safety discounts applied. When discounts are applied, the average savings per year on car insurance for homeowners is 28% or $343.
Buying coverage from a good quality insurance company is hard considering how many companies are available to choose from in Nevada. The rank data listed below could help you pick which providers to look at when trying to find cheaper insurance for homeowners.
These ratings are for the largest companies in the United States, so companies without a large exposure are not included in these rankings. To compare price quotes from the most competitive companies in Nevada, simply click here.
|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
The benefits of price comparisons
Nevada car insurance rates are determined by lots of factors that can increase the price of your policy. Simply getting older, buying a home, or getting a speeding ticket may generate price changes resulting in some companies being cheaper in comparison to the competition.
Not only may your situation change, but auto insurance companies change premium rates every year to adjust for unexpected claims or profits. A period of increased losses can cause more expensive prices, while a better loss history may produce lower-cost Nevada car insurance rates.
As an example, the data below shows a variety of companies that have the cheapest car insurance in Nevada for a 30-year-old female driver with no accidents, a clean driving record, and good credit. If we estimate rates based on her current rating profile, Allied may offer the most affordable car insurance rates in Nevada at $921 a year. This is $653 less than the average premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family are the remainder of the cheapest Nevada auto insurance companies.
In the next rate comparison, we'll give the driver from above some claims, poor credit, and a blemish on her driving record. Since every insurance provider has a proprietary formula to determine rates, comparing prices could result in a different ranking of the cheapest Nevada car insurance companies as shown below.
Travelers now has the best price in Nevada with GEICO, Nationwide, Safeco, and USAA completing the list. This example demonstrates why it is crucial to compare as many rates as possible when trying to find the most economical insurance quotes for homeowners. Insurance prices can be altered by many factors and can increase or decrease at any time, so the most economical option the last time you shopped around may now be quite expensive.
How to find more affordable auto insurance for homeowners in Nevada
It is possible to find better rates, and here are some money-saving solutions that can help drivers buy low-cost coverage.
- Don't waste money on full coverage for older vehicles
- Buy vehicles with five-star safety ratings
- Don't have frequent claims
- Avoid accidents
- Do not get traffic violations
- Bundle home or renters insurance to earn a discount on car insurance
- Compare rates once a year for cheaper prices
The last suggestion is especially necessary, as we hit on in this article. Prices charged by companies can be changed at any time, so drivers shouldn't be reluctant to change to a new company if a better deal can be had. Brand loyalty is great, but it's not a good idea if that stubbornness costs you a lot of money. If you have a few minutes, shop around and find cheaper insurance for homeowners.