The words "cheap" and "auto insurance" probably shouldn't be used in the same sentence, especially when you are looking for the best car insurance rates for postal workers. Because it's not cheap, let's go over some situations that help determine car insurance prices, and figure out some ways to reduce the price of the next policy you buy.
The vehicle model needing coverage is one of the largest factors when comparison shopping for the most affordable insurance for postal workers. Vehicles with limited top-end speed, modern passenger safety features, or a low likelihood of having liability claims will cost much less to insure than adrenaline junky models. The list below features car insurance prices for some of the cheapest automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$727|
|Dodge Grand Caravan CV||$749|
|Jeep Wrangler Rubicon 4WD 2-Dr||$759|
|Hyundai Elantra GLS Touring Station Wagon||$756|
|Honda CR-V EX 4WD||$776|
|Volkswagen Jetta LE 4-Dr Sedan||$791|
|Jeep Grand Cherokee Laredo 2WD||$799|
|Ford F-150 Lariat Crew Cab 2WD||$806|
|Ford Edge Sport AWD||$833|
|Toyota Corolla XLE||$842|
|Honda Odyssey Touring||$848|
|Ford Fusion SEL 4-Dr Sedan||$855|
|GMC Sierra SLE Crew Cab 2WD||$848|
|Hyundai Sonata GLS 4-Dr Sedan||$850|
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Prices based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Price estimates do not factor in garaging location in Nevada which can raise or lower price quotes greatly.
Based upon the rates shown, you can figure that models like the Ford Escape, Dodge Grand Caravan, Jeep Wrangler, and Hyundai Elantra are a few of the most affordable vehicles to insure for postal employees.
For postal employees, one of the largest factors that are looked at to determine the price you pay for insurance is your zip code in Nevada. Areas with more people or even just a higher incidence of claims like Winchester, Paradise, and Enterprise are more likely to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from having to pay less for coverage.
The table below rates the most expensive cities in Nevada for postal workers to purchase auto insurance in.
|Rank||City||Average Per Year|
|6||North Las Vegas||$1,900|
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Information shown are estimated as the vehicle garaging location can lower or raise prices noticeably.
Tickets and at-fault accidents raise rates
The obvious way to get the most affordable insurance prices for postal employees is to drive safely and not have accidents or get tickets. The diagram below demonstrates how traffic citations and at-fault collisions increase insurance prices for different age groups of insureds. The premiums assume a married female driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
The data above shows the average cost of an auto insurance policy in Nevada per year with no accidents and a clean driving record is $1,121. Receive one speeding ticket and the average cost increases to $1,306, an increase of $185 each year. Now add one accident along with the one speeding ticket and the yearly cost of insurance for postal workers in Nevada goes up to an average of $1,819. That's an increase of $698, or $58 per month, just for not paying attention while driving!
Rate comparison of full coverage and liability-only
Saving on insurance is important to the majority of vehicle owners, and one common way to find cheaper insurance for postal workers in Nevada is to not buy full coverage. The example below shows the difference between car insurance costs with and without physical damage coverage. The costs are based on no accidents or driving violations, $500 deductibles, single status, and no additional discounts are factored in.
Averaged for all ages 20 through 70, physical damage insurance costs an additional $1,455 per year more than just buying liability insurance. A very common question is if paying for full coverage is worth it. There is no exact formula of when to drop physical damage coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
For example, let's assume your vehicle's replacement cost is $7,500 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $6,500 after paying the physical damage deductible. If premium cost is more than $650 annually to have full coverage, then it's probably a good time to buy liability coverage only.
The benefits of price comparisons
Nevada insurance rates are based on many factors that may substantially change the price of coverage. Simply getting older, buying a different vehicle, or getting a couple of tickets can cause premium changes that can now make some companies more affordable than competitors.
Not only that, but insurance companies file new Nevada auto insurance rates at least once a year in order to maintain liquidity for claims. An unexpected high level of claims may cause high rates, while profitable underwriting can produce lower-priced Nevada car insurance rates.
The graph below shows the companies that have the cheapest car insurance in Nevada for a 35-year-old male driver with no prior claims, no tickets, and a good credit rating. If we compare prices based on his current situation, Travelers might quote the most affordable car insurance rates in Nevada at $912 annually. This is $662 less than the average price paid by Nevada drivers of $1,574. Allied, Capital, American Family, and Oregon Mutual are also on the list of the top five cheapest Nevada auto insurance companies.
In this example, we will give the driver in the first chart a chargeable claim, poor credit, and a stop sign violation. Due to the fact that every insurance company has a unique approach to determining premium rates, analyzing rates most likely will result in a slightly different list of the cheapest Nevada car insurance companies as shown below.
GEICO now has the best car insurance rate in Nevada with USAA, Nationwide, Safeco, and Allied completing the list. This example proves why consumers need to take the time to shop around with many companies when trying to find the best auto insurance rates for postal workers.
Insurance rates are impacted by many factors and change frequently, so the best company a year ago may now be quite expensive.