Deciding which company offers the cheapest car insurance rates in Las Vegas involves more work in order to find a policy that fits your budget. Every auto insurer has their own guidelines to determine premium rates, so we'll take a look at the most affordable car insurance companies in Nevada.
|Rank||Company||Cost Per Year|
|Get a Custom Quote Go|
Allied normally has some of the lowest car insurance rates in Las Vegas at around $911 annually. This is $663 less than the average rate paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive would also make the list of some of the most economical Las Vegas, NV insurance companies.
In the above example, if you are currently insured with Oregon Mutual and switched to Travelers, you might see yearly savings of roughly $243. Policyholders with Progressive may save as much as $287 a year, and American Family policyholders might lower prices by up to $291 a year.
Understand that those premium estimates are averaged across all types of insureds and vehicles and and are not calculated with an exact zip code location in Las Vegas. So the company that has the cheapest rates for you may not even be in the top 20 companies in the list above. That points out the importance of why you need to compare as many prices as possible using your own individual information.
For drivers in Las Vegas, one of the big considerations that determine the amount you pay for auto insurance is where you keep your car. Regions with more people or even just more weather-related claims tend to have more expensive car insurance rates, whereas areas with less crime or weather claims receive better rates.
The information below ranks the most costly cities in Nevada to purchase a policy in. Las Vegas comes in at #5 with an annual cost of $1,930 on average, which is around $161 each month.
|Rank||City||Premium Per Year|
|7||North Las Vegas||$1,844|
|Compare Rates Now Go|
Premium amounts are comparative as vehicle location can increase or decrease insurance rates noticeably.
Low rates can quickly become overpriced
Las Vegas car insurance rates are based on many factors that will increase or decrease the cost of your policy. Turning one year older, filing a claim, or getting a reckless driving citation may prompt premium changes that can now make some companies affordable when they were higher priced. In addition to those changes, auto insurance companies change their prices multiple times each year in order to be able to pay unexpected claims. A period of higher than normal claims can result in rate hikes, while lower claim levels can produce lower-priced Las Vegas car insurance rates.
The chart below demonstrates which company has the cheapest car insurance in Las Vegas, NV for a 45-year-old male driver with no violations or accidents, and great credit. When comparing rates based on his current risk profile, Travelers offers the most affordable car insurance rates in Las Vegas at $1,653 per year. This is $79 more than the average premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family are the rest of the most affordable Las Vegas, NV auto insurance companies.
Let's now give the driver from above a couple of claims, poor credit, and a speeding citation. Due to the fact that each insurance company has their own guidelines to determining premium rates, comparing quotes could result in a substantially altered list of the cheapest car insurance companies in Las Vegas as shown below.
GEICO now has the lowest price in Las Vegas, NV with Nationwide, USAA, Allied, and Safeco completing the list. This example shows why Las Vegas drivers need to do a thorough rate comparison to find the most economical auto insurance quotes in Las Vegas.
Auto insurance prices can be determined by many risk factors and change frequently, so the best company when you bought your policy may now be wasting a lot of money.
The car, truck, or SUV that is being insured is one of the largest factors when comparing low-priced auto insurance in Las Vegas. Vehicles with lower performance, a plethora of safety features, or a positive history of liability claims will cost substantially less to insure than higher performance models.
The next list ranks insurance rates for a handful of the most affordable automobiles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$2,643|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$2,836|
|Ford Focus S 4-Dr Sedan||$3,002|
|Volkswagen Jetta S 4-Dr Sedan||$3,060|
|Ford Escape Limited 4WD||$3,082|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$3,118|
|Toyota Corolla XLE||$3,224|
|Ford F-150 Lariat Crew Cab Harley 4WD||$3,340|
|Toyota RAV4 Sport 2WD||$3,358|
|Jeep Grand Cherokee Laredo 4WD||$3,368|
|Chevrolet Equinox LS AWD||$3,358|
|Chevrolet Impala LS||$3,376|
|Compare Rates Now Go|
Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Table data does not factor in zip code location which can affect coverage prices noticeably.
Based on these rates, you can infer that makes and models like the Honda CR-V, Jeep Wrangler, Toyota Prius, and Ford Focus are likely to be a few of the most economical vehicles to insure for drivers in Las Vegas.
Discounts on Las Vegas car insurance rates
Insurance companies that provide coverage in Las Vegas may have special discounts that may potentially lower prices by 40% or more if you are eligible to receive them. The best car insurance companies and a summarized list of policyholder discounts are outlined below.
- Progressive may have discounts that include good student, online signing, online quote discount, multi-policy, multi-vehicle, homeowner, and continuous coverage.
- MetLife has discounts for accident-free, multi-policy, defensive driver, claim-free, and good student.
- Mercury Insurance offers discounts including annual mileage, accident-free, location of vehicle, low natural disaster claims, good driver, multi-policy, and good student.
- Nationwide may offer discounts for easy pay, family plan, good student, anti-theft, Farm Bureau membership, and business or organization.
- GEICO may include discounts for defensive driver, military active duty, multi-vehicle, five-year accident-free, and driver training.
- AAA policyholders can earn discounts including good driver, multi-policy, education and occupation, good student, and anti-theft.
The example below visualizes the comparison of premium costs with and without discounts applied to the policy rates. The premiums are based on a female driver, no driving violations, no at-fault accidents, Nevada state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with anti-theft, safe-driver, accident-free, homeowner, multiple vehicle, and claim-free discounts applied. When drivers qualify for the discounts, theamount saved on car insurance in Las Vegas is 28% or $418.
Difference between full coverage and liability only rates
Paying less for car insurance should be important to most people, and a great way to save on the cost of insurance in Las Vegas is to not pay for full coverage. The chart below shows the difference between insurance costs when comparing full coverage to liability only. The information is based on a clean driving record, no claims, $100 deductibles, single marital status, and no discounts are applied.
On average, physical damage insurance costs $2,410 per year over and above liability coverage. At some point, every insured wonders if physical damage coverage is worth the money. There is no written rule that works best for making the decision to drop comp and collision coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.
For example, let's assume your vehicle's replacement cost is $10,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $9,500 after you pay the deductible. If it's costing in excess of $950 a year to have full coverage, then it might be time to consider dropping full coverage.
Insurance rate increases from tickets or accidents
The ideal way to earn the best car insurance prices in Las Vegas for drivers in Las Vegas is to drive attentively and avoid accidents and traffic violations. The illustration below highlights how traffic violations and at-fault claims drive up yearly insurance costs for different categories of driver ages. The premiums assume a married male driver, comprehensive and collision coverage, $100 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of auto insurance per year with a clean driving record and no accidents is $1,684. Receive one speeding ticket and the average cost hikes up to $1,931, an increase of $247 each year. Now include two accidents along with the one speeding ticket and the yearly cost of car insurance in Las Vegas increases to an average of $3,937. That's an increase of $2,253, or $188 per month, just for not paying attention while driving!