Finding competitive insurance for a Toyota Camry relies on a lot of rating criteria such as how old the Camry is, your credit score, and blemishes on your driving record. Drivers in Nevada will pay around $695 each year for Camry insurance, but that cost is a valuation based upon a 30-year-old married female driver with full comprehensive and collision coverage and $1,000 deductibles.
Odds are that you may not be 30 years old (or even female), possibly single instead of married, or maybe you just want different deductibles. Having even a minor difference in rating variables or coverage information can make a large difference in the cost of insurance.
Every driver's needs are different, and that is why the best method for finding cheap insurance prices for your Toyota is to compare as many rates as you can. To cut your rates now, get a free quote and you will be able to compare rates from top-rated car insurance companies that offer coverage in Nevada.
The specific model of Camry tends to impact the cost of insurance, so the cost to insure a Camry LE trim level will be $122 lower than the insurance cost for the more expensive Camry Hybrid model, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Rates do not factor in Nevada location which can decrease or increase auto insurance rates considerably.
Figuring out which companies offer the best auto insurance rates for a Toyota Camry in Nevada involves more work than just picking a company at random. Each insurance company uses different criteria for determining rates in each state, so we'll go over the most competitive auto insurance companies in Nevada.
It's important that you understand Nevada auto insurance rates are calculated based on many things that will increase or decrease the price you have to pay for coverage. Turning one year older, moving across town, or getting a DUI may cause policy rate changes that can make some companies much cheaper than others.
Cheapest Insurance Rates for Your Camry
|Rank||Company||Cost Per Year|
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Travelers may have some of the most affordable car insurance rates in Nevada at around $939 each year. This is $635 less than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family also rank well as some of the cheapest Nevada insurance companies.
As shown above, if you have coverage with American Family and switched to Allied, you could earn savings of in the vicinity of $233. Drivers with Progressive could save as much as $241 a year, and GEICO customers might see rate reductions of $283 a year.
It's important to note that these premiums are averages across all types of insureds and vehicles and and are not calculated with a specific rate value for a Toyota Camry. So the car insurance company that fits your age and vehicle best may not even be in the top 20 companies shown above. That underscores the importance of why you need to get rate quotes from many companies using your own personal information and vehicle type.
Rate difference between full and liability-only coverage
Finding cheaper auto insurance is important to most drivers, and a great way to find cheap insurance for a Toyota Camry in Nevada is to not insure for full coverage. The diagram below visualizes the comparison of insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no claims or violations, $100 deductibles, drivers are not married, and no discounts are applied.
If averaged for all ages, full coverage costs an extra $2,256 per year more than buying just liability insurance. At some point, about every driver wonders if full coverage is worth the money. There is no definitive rule for excluding comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then it's probably a good time to buy liability coverage only.
For example, let's say your vehicle's replacement value is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $11,000 after you pay the deductible. If you are paying in excess of $1,100 a year for comprehensive and collision coverage, then you might want to consider buying only liability coverage.
There are a few situations where dropping physical damage coverage is not a good plan. If you haven't satisfied your loan, you have to keep full coverage to protect the lienholder's interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not opt for liability only.
Why you should be comparing rates
Nevada auto insurance rates are based on many factors that can increase the cost of having a policy. Simply turning a year older, moving to a new city, or getting a DUI may prompt premium changes that can cause some rates to be cheaper than competitors. Not only may things change on your end, but car insurance companies change prices as often as every three months to adjust for heavy claims or excess profits. Significantly higher losses may cause price increases, while a better claims history can result in more affordable Camry insurance rates.
To illustrate this example, the bar chart below analyzes the cheapest car insurance in Nevada for a 30-year-old male driver with no prior claims, no tickets, and solid credit. If we estimate rates based on his current rating profile, Allied offers the most affordable car insurance rates in Nevada at $911 per year. This is $663 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 this example, we will give the driver from the first example a claim, less-than-perfect credit, and a speeding citation. Since each company has their own guidelines to determining premium rates, analyzing rate quotes may now result in a slightly different list of the cheapest companies as shown below.
GEICO now has the best car insurance rate in Nevada with Travelers, Nationwide, USAA, and Safeco also being competitive. This example shows why consumers need to take the time to perform an extensive rate comparison to get cheap car insurance rates for a Toyota Camry. Auto insurance prices are determined by many factors and change dramatically, so the cheapest option when you bought your policy may now be costing you a lot of money.