You have most likely seen the commercials from auto insurance companies like Nationwide, State Farm, and Progressive that make promises of the cheapest rates, so drivers just need to select the one with the best jingle, right?
Regrettably, it's not quite that easy, as there are a whole slew of unknown aspects such as if you need full coverage or just liability, the number of miles you drive each year, whether you are married or single, and whether you are female or male. We are going to cover the different ways you can keep rates low and also should give you a jump start in finding the best auto insurance for high credit.
The type of vehicle you are seeking coverage for is probably the largest consideration when comparing quotes for the best cheap coverage for drivers with good credit. Vehicles with more horsepower, a lack of advanced safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer, lower-performance models.
The list below illustrates auto insurance prices for a selection of the cheapest vehicles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Volkswagen Jetta S 4-Dr Sedan||$780|
|Toyota RAV4 4WD||$785|
|Honda CR-V EX 2WD||$810|
|Honda Odyssey EX-L||$821|
|Honda Accord EX-L 4-Dr Sedan||$831|
|Ford Escape XLT 4WD||$830|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$832|
|Chevrolet Equinox LTZ AWD||$835|
|Jeep Grand Cherokee Limited 2WD||$842|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$852|
|Ford F-350 XL Crew Cab King Ranch 2WD||$862|
|GMC Sierra SLE Regular Cab 2WD||$896|
|Dodge Grand Caravan Hero||$902|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$913|
|Ford F-150 XLT Crew Cab 4WD||$923|
|Ford F-250 XLT Crew Cab 2WD||$935|
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Data rating is based on 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, homeowner, claim-free, multi-vehicle, and safe-driver. Premium costs do not factor in specific location which can decrease or increase coverage prices considerably.
Looking at the data, we can presume that models like the Volkswagen Jetta, Toyota RAV4, Honda CR-V, and Honda Odyssey are some of the cheapest vehicles to insure for financially responsible drivers.
For financially responsible drivers, one of the more important considerations that are used to help calculate the cost of insurance is where you normally keep your vehicle in Nevada. Areas with increased crime or more people like Winchester, Spring Valley, and Las Vegas tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower rates.
The table below lists the priciest cities in Nevada for drivers with good credit to purchase car insurance in.
|Rank||City||Average Per Year|
|7||North Las Vegas||$1,844|
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Prices are comparative as the specific garaging location can alter coverage prices significantly.
Establishing which company offers the lowest-priced car insurance rates for drivers with good credit in Nevada will take more work in order to find coverage that fits your budget.
Each insurer uses a little different formula for determining rates in each state, so let's examine the most competitive car insurance companies in Nevada. It's important to understand that Nevada car insurance rates are impacted by many things which can substantially decrease or increase the cost of a policy. Simply having a birthday, having a teenage driver, or getting a few speeding tickets can produce rate changes that may make certain companies affordable when they were higher priced.
Best Cheap Insurance Rates for High Credit
|Rank||Company||Cost Per Year|
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Allied offers some of the best car insurance rates in Nevada at around $939 annually. Travelers, Capital, Oregon Mutual, and American Family also make the cut as some of the cheaper Nevada insurance companies.
As the example above demonstrates, if you buy coverage from Oregon Mutual and switched to Allied, you may realize an annual savings of approximately $254. Policyholders with American Family may save as much as $279 a year, and Progressive policyholders might lower prices by up to $287 a year.
It's important to note that these policy rates are averages across all types of insureds and vehicles and do not take into consideration a price discount for drivers with good credit. So the insurer that has the lowest price for you may not even be in the list above. That helps illustrate why you need to compare as many prices as possible using your own specific driver information and vehicle.
Car insurance rates are higher with tickets and accidents
The common sense way to receive cheap car insurance prices in Nevada for financially responsible drivers is to be a safe driver and maintain a clean driving record. The diagram below illustrates how speeding tickets and at-fault claims increase auto insurance costs for different age categories. The premiums are based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.
In the example above, the average cost of auto insurance per year with no accidents or violations is $1,487. Factor in two speeding tickets and the average cost jumps to $2,043, an increase of $556 each year. Then include two accidents along with the two speeding tickets and the annual cost of car insurance for drivers with good credit in Nevada jumps again to an average of $4,350. That's an increase of $2,862, or $239 per month, just for being a less-than-perfect driver!
Car insurance companies ranked
Finding the highest-rated insurance company can be challenging considering how many companies sell coverage in Nevada. The information displayed below could help you choose which companies you want to consider when looking for cheaper rates.
These ratings are only comprised of major nationwide insurance companies, so companies with more of a regional focus are not included in these rankings. To get rate quotes from these companies and more, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Your cheap policy may actually be overpriced
Nevada car insurance rates are based on many factors that may substantially change the cost of a policy. Improving your credit rating, filing a claim, or getting a ticket for running a stop sign may cause policy rate changes that can now make some companies affordable when they were higher priced.
And not only may your rating factors change, but insurers file new rates at least once a year to help ensure profitability. Higher than usual claims can result in price increases, while a lower level of claims can result in lower-cost Nevada car insurance rates.
To illustrate this point, the chart below analyzes the cheapest car insurance in Nevada for a 35-year-old male driver with a clear driving record, no claims, and a decent credit rating. When comparing rates based on his current situation, Travelers may offer the cheapest car insurance rates in Nevada at $939 annually. This is $635 less than the average policy premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family round out the rest of the best Nevada auto insurance companies.
The chart below compares rates after we give the driver from the above example a claim surcharge, bad credit, and a stop sign violation. Because every insurance company has a proprietary method to set their prices, analyzing rate quotes most likely will result in a new list of the cheapest car insurance companies in Nevada as shown below.
Progressive now has the best price on car insurance in Nevada with Nationwide, Allied, USAA, and Safeco now rounding out the top five. This example shows why consumers need to perform an extensive rate comparison when trying to find cheap auto insurance quotes for drivers with good credit. Insurance prices are impacted by many risk factors and change frequently, so the cheapest rate six months ago may now be costing you a lot of money.