Trying to find cheap auto insurance is easier said than done, and determining which company quotes the cheapest auto insurance rates for seniors in Nevada takes additional perseverance. Coverage rates will most likely be moderately cheaper than the average price in Nevada, with the lower price attributed to the lower risk associated with offering coverage for senior citizens. Competitive coverage should be possible without looking to hard.
Every auto insurer has a unique approach for filing rates in each state, so we'll take a look at the auto insurance companies that tend to have lower prices in Nevada. Keep in mind that Nevada auto insurance rates are calculated based on many things that can increase the price you have to pay for coverage. Events like turning one year older, adding a teenager to your policy, or getting a reckless driving citation may cause policy rate changes that can make some companies much higher than others.
Best Insurance Companies for Mature Drivers
Travelers generally has some of the lowest car insurance rates in Nevada at around $903 per year. Allied, Capital, Oregon Mutual, and American Family would also be considered some of the most economical Nevada car insurance companies.
In the rate table above, if you are currently insured with Allied and switched to Travelers, you may realize a yearly savings of around $18. Insureds with Capital could save as much as $75 a year, and Oregon Mutual customers might reduce rates by $244 a year.
To get a quick, customized rate comparison, click here to get a free quote or quote rates from the companies below.
Remember that these policy rates are averages across all ages of drivers and types of vehicles and are not factoring in a rate decrease for seniors. So the insurer that can offer the best rates for your situation may not even be in the top 20 companies in the list above. That points out the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
The vehicle that is being insured is probably the largest consideration that determines the availability of the best cheap car insurance for seniors. Vehicles with lower performance, good safety features, or a low likelihood of liability claims will cost less to insure than higher performance models.
The information below estimates insurance rates for a number of the cheapest vehicles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$531|
|Hyundai Elantra GLS Touring Station Wagon||$540|
|Ford Escape XLT 4WD||$544|
|Volkswagen Jetta S 2.5 Station Wagon||$577|
|Ford F-150 STX Super Cab 2WD||$583|
|Dodge Grand Caravan CV||$596|
|Jeep Wrangler Rubicon 4WD 2-Dr||$606|
|Ford Edge SE AWD||$616|
|GMC Sierra SL Extended Cab 2WD||$629|
|Chevrolet Malibu LS||$635|
|Chevrolet Impala LT||$629|
|Nissan Altima 2.5 4-Dr Sedan||$639|
|Jeep Grand Cherokee Laredo 4WD||$629|
|Toyota RAV4 4WD||$638|
|Toyota Tacoma Double Cab 4WD||$642|
|Ford Explorer Eddie Bauer 4WD||$652|
|Honda Odyssey EX-L W/Rear Entertainment||$660|
|Toyota Corolla LE||$666|
|Chevrolet Equinox LTZ AWD||$673|
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Prices based on married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Price information does not factor in zip code location which can revise rates significantly.
Based upon these rates, you can presume that vehicles like the Honda CR-V, Hyundai Elantra, and Ford Escape are going to be the less-costly vehicles to insure for senior citizens.
For senior citizens, one of the more important factors that are used to help calculate insurance cost is where you live. More densely populated places like Winchester, Spring Valley, and Enterprise tend to pay slightly more, whereas less populated areas can boast about having cheaper rates.
The following table shows the most expensive cities in Nevada for seniors in which to purchase auto insurance.
|Rank||City||Average Per Year|
|6||North Las Vegas||$1,882|
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Annual rates are approximated as the specific geographic location can influence auto insurance rates substantially.
Cautious drivers save money
In a perfect world, the ideal way to maintain the cheapest auto insurance premiums in Nevada for senior citizens is to drive safe and avoid accidents and traffic violations. The illustration below highlights how speeding tickets and accidents drive up auto insurance costs for different categories of driver ages. The prices are based on a single female driver, full coverage, $500 deductibles, and no discounts are applied to the premium.
In the previous example, the average cost of car insurance per year with a clean driving record and no accidents is $1,514. Get written up for two speeding tickets and the average cost rises to $2,029, an increase of $516 each year. Then add one accident along with the two speeding tickets and the 12-month cost of auto insurance for seniors in Nevada jumps again to an average of $2,546. That's an increase of $1,033, or $86 per month, just for being a less-than-perfect driver!
How to get discounts on Nevada car insurance
Insurers that provide policies for seniors may also provide premium discounts that can reduce rates by 25% or more if you meet specific criteria. A few popular companies and their possible discounts are shown below.
- GEICO policyholders can earn discounts including multi-vehicle, air bags, multi-policy, five-year accident-free, and anti-lock brakes.
- Auto-Owners Insurance offers premium reductions for teen driver, group or association, anti-lock brakes, safe vehicle, good student, and paperless.
- American Family has discounts for TimeAway discount, air bags, multi-vehicle, Steer into Savings, good driver, and good student.
- Esurance may offer discounts for homeowner, Switch & Save, good driver, multi-policy, and Pac-12 alumni.
- Progressive may include discounts for continuous coverage, online signing, good student, online quote discount, and multi-vehicle.
- State Farm has savings for accident-free, defensive driving training, good driver, multiple policy, and Drive Safe & Save.
- AAA may have discounts that include anti-theft, good driver, good student, education and occupation, and AAA membership discount.
The diagram below compares premium costs with and without discounts applied to the premium. The price estimates are based on a female driver, a clean driving record, no claims, Nevada state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with multiple vehicle, homeowner, accident-free, defensive driving course, claim-free, and marriage discounts applied. When discounts are factored in, the average savings per year on auto insurance for seniors is 29% or $487.
Does full coverage make sense?
Saving money on auto insurance is probably important to most vehicle owners, and an easy way to find cheaper insurance for seniors in Nevada is to not buy comprehensive and collision coverage. The example below shows the comparison of insurance premiums with full coverage and liability only. The premium estimates are based on no claims or violations, $100 deductibles, drivers are not married, and no discounts are factored in.
If we average the cost for all age groups, physical damage coverage on your policy costs an additional $1,969 per year over having just liability coverage. At some point, almost every driver questions if buying full coverage is a good investment. There is no clear-cut rule of when to drop full coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let's assume your vehicle's claim settlement value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $10,500 after you pay the deductible. If you are paying in excess of $1,050 a year to have full coverage, then it might be time to buy liability only.