Deciding which company offers the cheapest car insurance rates for veterans in Nevada will require a bit more effort thank just comparing rates from one or two companies. Each auto insurance company has their own guidelines for determining rates, so we will examine the most competitive car insurance companies in Nevada.
Keep in mind that Nevada car insurance rates are impacted by many factors which can substantially change the price you pay for coverage. Getting older, buying a home, or getting a driving violation can cause premium changes resulting in some rates now being more affordable than competitors.
Best Car Insurance Prices for Vets
Allied may offer some of the most affordable car insurance rates in Nevada at around $921 each year. This is $653 less than the average price paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and GEICO would also be considered some of the best Nevada auto insurance companies.
In the rate table above, if you currently buy coverage from Travelers and switched to Allied, you could see savings of around $9. Customers with Capital could save as much as $57 a year, and Oregon Mutual insureds might lower prices by $237 a year.
It's important to note that these policy prices are averaged for all types of insureds and vehicles and and are not figured with a price decrease for veterans. So the company that can offer you the lowest price may not even be in the top 20 companies shown above. That is why you need to get rate quotes using your own personal information and vehicle type.
The type of vehicle that is being insured is probably the largest consideration that determines whether or not you can buy economical auto insurance for veterans. Vehicles with lower performance, an excellent safety record, or a positive history of liability claims will cost significantly less to insure than higher performance models.
The next list ranks auto insurance prices for some of the most affordable automobiles to insure in Nevada.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$660|
|Ford Escape XLT 2WD||$665|
|Ford Explorer Eddie Bauer 2WD||$739|
|Dodge Grand Caravan SXT||$795|
|Hyundai Elantra GLS Touring Station Wagon||$810|
|Chevrolet Impala LTZ||$821|
|Toyota Corolla XLE||$829|
|Hyundai Sonata GLS 4-Dr Sedan||$839|
|GMC Sierra 2500HD SLT Crew Cab 4WD||$876|
|Ford Focus SE 2-Dr Coupe||$880|
|Ford F-250 XL Super Cab 2WD||$894|
|Kia Optima SX||$899|
|Toyota RAV4 2WD||$896|
|Jeep Grand Cherokee Laredo 4WD||$904|
|Ford F-150 Lariat Super Cab 4WD||$913|
|Toyota Camry SE||$942|
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Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, safe-driver, and homeowner. Rate quotes do not factor in specific garaging location which can decrease or increase insurance rates considerably.
By looking at the data, we can tell that makes and models like the Honda CR-V, Ford Escape, Toyota Prius, and Ford Explorer are going to be some of the more affordable vehicles to insure for veterans.
One of the many things that are used to help calculate car insurance rates is where you live in Nevada. Areas with increased crime or more people like Winchester, Paradise, and Las Vegas are more likely to have higher rates, whereas areas with less people or fewer weather incidents have the luxury of lower rates.
The illustration below ranks the most costly cities in Nevada for veterans to buy auto insurance in.
|Rank||City||Average Per Year|
|7||North Las Vegas||$1,844|
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Information shown are approximated as the garaging address in Nevada can increase or decrease premiums noticeably.
How accidents and violations affect rates in Nevada
The best way to obtain affordable car insurance prices for veterans is to be a cautious driver and avoid accidents and keep your driving record clean. The illustration below demonstrates how speeding tickets and accident claims can increase annual premium costs for each age group. The data assumes a single female driver, full coverage, $1,000 deductibles, and no discounts are factored in.
The data charted above shows the average cost of a car insurance policy per year with no accidents or violations is $1,338. Get written up for two speeding tickets and the average cost jumps to $1,785, an increase of $447 each year. Then add two accidents along with the two speeding tickets and the yearly cost of car insurance for veterans in Nevada jumps again to an average of $3,574. That's an increase of $2,236, or $186 per month, just for not being more responsible behind the wheel!
Cost comparison with and without full coverage
Paying less for car insurance is probably important to the majority of drivers, and one of the fastest ways to reduce the cost of insurance for veterans in Nevada is to buy liability only. The chart below illustrates the difference between insurance costs with full physical damage coverage and with liability coverage only. The data assumes a clean driving record, no at-fault accidents, $100 deductibles, marital status is single, and no policy discounts are applied.
If we average all the age groups together, comp and collision coverage costs an additional $2,410 per year more than carrying just liability coverage. At some point, about every driver wonders if buying full coverage is a good investment. There is no set guideline to stop paying for physical damage coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
There are a few cases where dropping full coverage is not a good plan. If you still owe money on your vehicle, you must maintain physical damage coverage to protect the lienholder's interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
The chart below highlights how deductible selection can change premium costs when trying to find cheap insurance for veterans in Nevada. The prices are based on a single female driver, comp and collision included, and no other discounts are factored in.
A 40-year-old driver could lower rates by $294 a year by switching from a $100 deductible up to a $500 deductible, or save $444 by choosing a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could reduce their rates as much as $744 every year by choosing larger deductibles on their policy.
When choosing a higher deductible, it will be required to have additional funds in a savings account to be able to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.