The car, truck, or SUV you are buying coverage for is one of the largest considerations when comparing affordable coverage for high risk drivers. Vehicles with economical engines, modern passenger safety features, or low incidents of liability claims will cost quite a bit less to insure than high performance models. The information below outlines auto insurance premiums for a number of the cheapest automobiles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,484|
|Honda CR-V EX 4WD||$2,515|
|Hyundai Elantra SE Touring Station Wagon||$2,642|
|Ford F-150 FX2 Super Cab 2WD||$2,692|
|Ford Edge SE AWD||$2,796|
|Nissan Altima 2.5 4-Dr Sedan||$2,821|
|Chevrolet Equinox LS 2WD||$2,827|
|Toyota RAV4 Sport 4WD||$2,821|
|Honda Odyssey EX||$2,908|
|Dodge Grand Caravan Crew||$2,939|
|Toyota Camry XLE||$2,950|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$2,973|
|Ford Explorer Limited 4WD||$2,978|
|Chevrolet Malibu LTZ||$2,978|
|GMC Sierra SLT Extended Cab 2WD||$2,987|
|Chevrolet Impala LTZ||$3,067|
|Nissan Rogue S 2WD||$3,068|
|Ford Fusion Sport 4-Dr Sedan||$3,074|
|Volkswagen Jetta SE 4-Dr Sedan||$3,083|
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Premium data assumes single male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in specific location which can lower or raise coverage rates greatly.
Based upon the table data, you can see that cars like the Ford Escape, Honda CR-V, Hyundai Elantra, Toyota Prius, and Ford F-150 should be a few of the most affordable vehicles to insure for high risk drivers. Rates will tend to be higher because of the fact that there is more inherent risk for high risk drivers, but generally speaking those makes and models will have the cheapest car insurance rates that you are likely to find.
Deciding which companies quote the lowest-priced insurance rates for high risk drivers in Nevada will take a tad more effort in order to find the best policy. Every auto insurer used slightly different criteria to determine premium rates, so we need to take a look at the most affordable insurance companies in Nevada.
It's important that you understand Nevada insurance rates are calculated based on many things which can substantially change the cost of a policy. Improving your credit rating, becoming a homeowner, or getting a ticket for running a stop sign may generate price changes that can cause some rates to be cheaper than others.
Compare Cheap Insurance Quotes for Risky Drivers
|Rank||Company||Cost Per Year|
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Allied generally has some of the lowest car insurance rates in Nevada at around $911 a year. This is $663 less than the average premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family would also be considered some of the cheapest Nevada car insurance companies.
In the above example, if you currently buy coverage from Oregon Mutual and switched to Allied, you might see annual savings of upwards of $271. Policyholders with American Family may save as much as $307 a year, and GEICO customers might realize rate reductions of up to $308 a year.
Be aware that those premium estimates are averaged across all drivers and vehicles and and are not figured with a price increase for high risk drivers. So the car insurance company that fits your situation best may not even be in the top 20 companies in the list above. That point stresses why you need to get rate quotes from many companies using your own specific driver and vehicle information.
For high risk drivers, one of the big criteria that are looked at to determine the annual cost of car insurance is your zip code in Nevada. More densely populated places like Winchester, Paradise, and Enterprise are more likely to pay higher prices, whereas less populated areas have the luxury of lower rates.
The illustration below ranks the most expensive places in Nevada for high risk drivers to buy car insurance in.
|Rank||City||Average Per Year|
|7||North Las Vegas||$1,882|
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Rate quotes are estimated as the vehicle garaging location can impact prices considerably.
The chart below shows how different deductible levels can change insurance rates when getting quotes for cheap insurance for high risk drivers in Nevada. The costs are based on a single male driver, comprehensive and collision coverage, and no discounts are applied.
The data above shows that a 50-year-old driver could lower their policy premium by $344 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $516 by selecting a $1,000 deductible. Even younger drivers, such as the Age 20 example, can save as much as $1,144 or more by choosing larger deductibles on their policy. When raising deductibles, it is essential to have enough in a savings account to enable you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Rate comparison of full coverage and liability-only
Paying a lower price for insurance is probably important to most vehicle owners, and one of the quickest ways to buy cheaper insurance for high risk drivers in Nevada is to only buy liability insurance. The information below illustrates the difference between annual premium costs when comparing full coverage to liability only. The rate quotes are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no additional discounts are factored in.
If we average the cost for all age groups, physical damage coverage on your policy costs an additional $1,728 per year over liability only. That proposes the question if buying full coverage is worth the money. There is no definitive guideline of when to drop physical damage coverage on your policy, but there is a general convention. If the annual cost of coverage is more than about 10% of the vehicle's replacement cost less your deductible, then it's probably a good time to buy liability coverage only.
For example, let's pretend your vehicle's book value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would receive is $5,000 after the deductible is paid. If you are paying more than $500 a year for physical damage coverage, then you might consider buying liability only.
Chances are good that you're overpaying for Nevada car insurance
Nevada insurance rates are calculated based on many things which can substantially change your annual premium. Simply turning a year older, buying a home instead of renting, or getting a few speeding tickets can trigger changes in premium resulting in some companies being cheaper in comparison to the competition. Not only that, but companies change rates every year or even multiple times each year to adjust for unexpected claims or profits. Heavy losses can result in higher prices, while profitable underwriting may cause lower-cost Nevada car insurance rates.
As an example, the graph below compares the cheapest car insurance in Nevada for a 40-year-old female driver with no accidents or violations, and a good credit history. When quoting prices based on her current rating profile, Allied has the best car insurance rates in Nevada at $911 a year. This is $663 less than the average rate paid by Nevada drivers of $1,574. Travelers, Capital, Progressive, and Oregon Mutual are the rest of the top five cheapest Nevada auto insurance companies.
Now we will pretend the driver from the first rate comparison a chargeable claim, less-than-perfect credit, and an imperfect driving record. Due to the fact that each insurance company has a unique formula for setting rates, analyzing rate quotes may result in a completely different list of the cheapest Nevada car insurance companies as shown below.
GEICO now has the lowest car insurance rate in Nevada with Nationwide, USAA, Safeco, and Travelers completing the list. This illustrates why it is critical to perform a complete rate comparison when trying to get affordable insurance quotes for high risk drivers. Prices can be altered by many factors and can change substantially, so the lowest-price company the last time you shopped around may now be quite expensive.