Wouldn't this article be short if you could just know one specific company that has the lowest car insurance rates for active military? It's not quite that easy, unfortunately, as there are a ton of unknown aspects such as your gender, whether you want full coverage, what your desired deductibles are, and your financial responsibility, that all have an effect on the price. We will try to cover the best ways to maintain low rates and will hopefully give you a good start in finding the cheapest car insurance for military.
Finding reliable, budget auto insurance is easier said than done, and figuring out which insurers offer the cheapest car insurance rates for active military in Nevada will require even more work. Prices will probably be slightly cheaper than the average rate in Nevada due to the lower risk that goes along with offering insurance for military personnel. Reasonable coverage should be possible from a lot of good insurance companies. Each insurer has a proprietary formula for establishing rates, so first let's look at the rankings for the most budget-friendly car insurance companies in Nevada.
Cheap Insurance Rates for Military
|Rank||Company||Cost Per Year|
|Quote Your Rates Go|
Travelers has some of the cheapest car insurance rates in Nevada at around $903 a year. Allied, Capital, American Family, and Progressive also rank well as some of the cheaper Nevada auto insurance companies.
As illustrated above, if you buy coverage from Capital and switched to Travelers, you could realize a yearly savings of in the vicinity of $115. Policyholders with American Family might save as much as $279 a year, and Progressive insureds might lower prices by up to $287 a year.
Remember that these premium estimates are averages for all drivers and vehicles and are not factoring in a price decrease for active military. So the company that can offer you the lowest price may not even be in the top 20 companies in the list above. That underscores the importance of why you need to get quotes using your own personalized driver profile and vehicle information.
One of the many criteria that determine the price you pay for insurance is where you live. Cities with more crime and/or more people like Winchester, Paradise, and Las Vegas tend to have higher auto insurance costs, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower rates.
The following table sorts the most expensive places in Nevada for active military to buy car insurance in.
|Rank||City||Average Per Year|
|7||North Las Vegas||$1,844|
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Rates are approximated as specific location information can decrease or increase rates considerably.
The type of vehicle needing coverage is a large factor that determines if you can find low-cost insurance for active military. Vehicles with limited top-end speed, modern passenger safety features, or low incidents of liability claims will cost significantly less to insure than high performance models.
The information below estimates auto insurance rates for some of the more affordable vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$730|
|Honda CR-V EX-L 2WD||$747|
|Ford F-150 XL Regular Cab 2WD||$754|
|Ford Focus SE 4-Dr Sedan||$776|
|Jeep Wrangler Sport 4WD 2-Dr||$789|
|Nissan Altima 2.5 4-Dr Sedan||$791|
|Ford Explorer Eddie Bauer 4WD||$806|
|Toyota Tacoma Double Cab 4WD||$815|
|Honda Odyssey Touring||$848|
|Volkswagen Jetta SEL 4-Dr Sedan||$858|
|Nissan Rogue SL 2WD||$850|
|Ford Edge Limited 2WD||$855|
|Hyundai Sonata GLS 4-Dr Sedan||$850|
|Toyota RAV4 Limited 2WD||$867|
|Chevrolet Equinox LS 2WD||$892|
|Chevrolet Silverado LS Crew Cab 2WD||$907|
|Toyota Camry Hybrid||$917|
|Ford Fusion Sport AWD 4-Dr Sedan||$907|
|Dodge Grand Caravan Crew||$913|
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Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Rate information does not factor in specific location which can lower or raise rates noticeably.
Looking at the rates, you can conclude that cars like the Ford Escape, Honda CR-V, and Ford F-150 will be a few of the cheaper vehicles to insure for military personnel.
Discount Nevada insurance rates
Insurance providers that offer quotes for active military could also offer special discounts that could potentially reduce rates by as much as 35% or more if you meet the requirements. A list of car insurance companies and some of the discounts can be read below.
- Progressive discounts include multi-policy, good student, online signing, multi-vehicle, online quote discount, continuous coverage, and homeowner.
- AAA has discounts for good student, good driver, AAA membership discount, pay-in-full, and multi-car.
- Farmers Insurance includes discounts for youthful driver, alternative fuel, business and professional, electronic funds transfer, homeowner, and pay in full.
- GEICO policyholders can earn discounts including air bags, multi-policy, membership and employees, driver training, and seat belt use.
- Esurance offers discounts for anti-lock brakes, online shopper, emergency road assistance, online quote, claim free, and good driver.
- SAFECO may include discounts for bundle discounts, anti-theft, drive less, teen safety rewards, homeowner, and accident prevention training.
- State Farm offers discounts including Steer Clear safe driver discount, passive restraint, Drive Safe & Save, multiple policy, good student, and multiple autos.
The illustration below compares car insurance costs with and without discounts. The premiums are based on a male driver, no claims or driving citations, Nevada state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with safe-driver, claim-free, accident-free, vehicle safety, passive restraint, and anti-theft discounts applied. When drivers qualify for the discounts, theaverage amount saved on car insurance for active military is 28% or $548.
Careless drivers pay higher rates
The easiest way to receive cheap car insurance prices for military personnel is to drive attentively and have a clean driving record. The diagram below shows how violations and at-fault claims can increase insurance rates for each age group. The premiums assume a single male driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.
The chart shows that the average cost of auto insurance in Nevada per year with a clean driving record and no accidents is $2,165. Get written up for two speeding tickets and the average cost surges to $2,869, an increase of $704 each year. Then include two accidents along with the two speeding tickets and the yearly cost of car insurance for active military in Nevada jumps again to an average of $5,489. That's an increase of $3,324, or $277 per month, just for not driving attentively!
Full coverage versus liability-only in Nevada
Reducing premiums for car insurance is the goal of the majority of people, and one good way to save on the cost of insurance for active military in Nevada is to only pay for liability coverage. The chart below illustrates the difference between 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 not married, and no discounts are factored in.
If averaged out across all ages, full coverage costs $1,403 per year more than insuring for liability only. That is a large expense which might make you wonder when is it a good idea to stop buying full coverage. There is no clear-cut rule to stop buying physical damage insurance, but there is a general school of thought. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it's probably a good time to buy liability coverage only.
For example, let's pretend your vehicle's claim settlement value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,500 after paying your policy deductible. If premium cost is more than $350 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.