The words "low-cost" and "insurance" really shouldn't be used together, in particular when you are looking for the cheapest auto insurance in Nevada. To save some money, let's introduce you to some things that influence auto insurance prices, and come up with some ideas to lower the cost of your next policy.
The vehicle to be insured is a significant factor when comparing quotes for low-priced coverage in Nevada. Vehicles with economical engines, good safety features, or low incidents of liability claims will cost much less to insure than high performance models. The list below showcases car insurance rates for some of the cheaper vehicles to insure in Nevada.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$669|
|Ford Escape Limited 2WD||$747|
|Honda Accord EX 4-Dr Sedan||$756|
|Chevrolet Equinox LS 2WD||$791|
|Ford Fusion S 4-Dr Sedan||$796|
|Dodge Grand Caravan Hero||$791|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$817|
|Hyundai Elantra SE Touring Station Wagon||$822|
|Chevrolet Malibu LTZ||$848|
|Jeep Grand Cherokee Limited 4WD||$854|
|Dodge Ram Quad Cab SLT 2WD||$865|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$873|
|Volkswagen Jetta S 4-Dr Sedan||$867|
|Toyota RAV4 Limited 2WD||$873|
|Chevrolet Impala LS||$872|
|Ford Edge SE AWD||$881|
|Toyota Tacoma Double Cab 4WD||$883|
|GMC Sierra 2500HD SLT Crew Cab 4WD||$891|
|Nissan Rogue SL AWD||$892|
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Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can change premiums substantially.
Based upon the rates shown, models like the Honda CR-V, Ford Escape, Honda Accord, Chevrolet Equinox, and Ford Fusion are likely to be some of the cheaper vehicles to insure for drivers in Nevada.
Locating low-priced car insurance is difficult, and determining which company quotes the lowest-priced car insurance rates in Nevada will involve even more diligence.
Every car insurance company uses their own calculation to set premium rates, so let's rank the most affordable car insurance companies in Nevada. Keep in mind that Nevada car insurance rates are based on many factors that can increase your annual premium. Simply having another birthday, filing a claim, or getting into an accident can cause premium changes that can cause some rates to be more affordable than before.
Best Insurance Companies in Nevada
|Rank||Company||Cost Per Year|
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Travelers may offer some of the best car insurance rates in Nevada at around $903 annually. This is $671 less than the average premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family also qualify as some of the cheapest Nevada car insurance companies.
As shown in the table above, if you are insured with Oregon Mutual and switched to Allied, you could see a yearly savings of roughly $219. Policyholders with American Family may save as much as $279 a year, and Progressive policyholders might see rate reductions of $287 a year.
It's important to note that these premium estimates are averaged for all drivers and vehicles in Nevada and and are not calculated with a rate decrease in Nevada. So the insurer that fits your age and vehicle best may not even be in the top 20 companies in the list above. That is why you need to get rate quotes from many companies using your own individual information.
One of the more important components that are looked at to determine the amount you pay for auto insurance is where you keep your vehicle. Areas with more people or higher crime rates like Winchester, Spring Valley, and North Las Vegas tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower coverage costs.
The next table sorts the most costly cities in Nevada to purchase auto insurance in.
|5||North Las Vegas||$1,900|
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Table data uses approximated as vehicle location can increase or decrease coverage rates significantly.
Full coverage or liability only
Paying less for car insurance should be important to the majority of vehicle owners, and an easy way to reduce the cost of insurance in Nevada is to buy liability only. The chart below illustrates the difference between insurance costs with and without full coverage. The costs are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are not married, and no discounts are applied.
Averaged for all age groups, physical damage coverage on your policy costs an extra $1,297 per year over liability only. Many of you may wonder if it's a good idea to buy full coverage. There is no definitive guideline of when to eliminate physical damage coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.
For example, let's assume your vehicle's claim settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $7,000 after you pay the deductible. If premium cost is more than $700 a year for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
Nevada car insurance company ratings
Insuring your vehicle with a highly-rated insurance provider can be a challenge considering how many companies are available to choose from in Nevada. The ranking information listed below may help you analyze which car insurance providers to look at when shopping around.
The rankings below are only comprised of companies with a nationwide focus, so companies without a large exposure are not taken into consideration for these rankings. To get price quotes from these and other companies in Nevada, simply click here.
Top 10 Large Auto Insurers in Nevada Ranked by Customer Satisfaction
- Titan Insurance - 95%
- USAA - 94%
- AAA Insurance - 91%
- Nationwide - 90%
- State Farm - 90%
- The Hartford - 89%
- GEICO - 89%
- 21st Century - 88%
- Liberty Mutual - 88%
- Allstate - 88%
Top 10 Large Auto Insurers 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+
Comparing rates can save you money
Nevada car insurance rates are impacted by many factors that may substantially change your annual premium. Simply having another birthday, buying another vehicle, or having an at-fault accident may generate price changes resulting in some companies being much cheaper than others. And not only may your rating factors change, but companies change prices as often as every quarter in order to maintain liquidity for claims. Significantly higher losses can cause price increases, while lower claims may result in more affordable Nevada car insurance rates.
The graph below shows which company has the cheapest car insurance in Nevada for a 45-year-old female driver with no prior claims, no tickets, and a good credit history. Based on her personal profile, Allied may offer the cheapest car insurance rates in Nevada at $921 per year. This is $653 less than the average rate paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive are the remainder of the cheapest Nevada auto insurance companies.
In this example, we will give the driver in the first chart a chargeable claim, a lower credit rating, and a speeding ticket. Since every car insurance company has their own guidelines to set their prices, comparing prices may now present a different set of affordable Nevada car insurance companies as shown below.
GEICO now has the cheapest insurance rate in Nevada with Travelers, Nationwide, USAA, and Safeco completing the list. This demonstrates why consumers need to take the time to compare many different companies when trying to find cheap auto insurance rates in Nevada. Auto insurance prices are influenced by many risk factors and can decrease or increase without notice, so the cheapest option the last time you shopped around may now not even be in the top five.