One of the more important things that are looked at to help calculate the cost of insurance is where you live in Nevada. Areas with a lot of weather claims or more people like Winchester, Paradise, and Las Vegas are more likely to pay higher prices, whereas areas that tend to be more rural benefit from lower rates.
The information below shows the most expensive cities in Nevada for young drivers to purchase a policy in.
|6||North Las Vegas||$1,882|
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Price information shown is comparative as vehicle location can raise or lower rates significantly.
Shopping around for affordable insurance is hard enough, and figuring out which companies have the best insurance rates for young drivers in Nevada will involve even more shopping around. Coverage rates will more than likely be significantly pricier than the average rate in Nevada because of the posibility of more claims associated with offering coverage for youthful drivers, but reasonably-priced coverage may be possible if you do a thorough comparison. Every insurance provider has their own process to establish rates, so let's begin by examining the insurance companies with the overall best prices in Nevada.
It's important that readers know that Nevada insurance rates are calculated based on many things which can significantly increase or decrease the cost of having a policy. This price fluctuation is why it is critical to compare lots of rates when trying to find the most economical car insurance quotes for young drivers. Car insurance prices are made up of many factors and can change substantially, so the best option two years ago may now be priced much higher than other options.
Find Cheaper Car Insurance for Teens
|Rank||Company||Cost Per Year|
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Travelers has some of the cheapest car insurance rates in Nevada at around $930 each year. This is $644 less than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Progressive, and Oregon Mutual would also be considered some of the most economical Nevada auto insurance companies.
In the above rates, if you are currently insured with Progressive and switched to Travelers, you might realize annual savings of in the vicinity of $260. Customers with Oregon Mutual could save as much as $263 a year, and American Family insureds might realize rate reductions of up to $288 a year.
To see if you're overpaying, click here to start a quote or click several companies below for low rates.
These premium estimates are averages for all drivers and vehicles in Nevada and are not factoring in a price increase for young drivers. So the car insurance company that is best suited for you may not even be in the top 20 companies in the list above. That point stresses why you need to get rate quotes using your own specific driver and vehicle information.
Choosing the right insurance provider can be difficult considering how many different companies insure vehicles in Nevada. The ranking information in the lists below can help you decide which auto insurance companies to look at when comparing rate quotes. The ratings below are only comprised of the companies with a significant amount of written premium nationwide, so companies that only write business in Nevada or surrounding areas are not factored into this list.
Top 10 Large Auto Insurers Overall in Nevada
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
- Mercury Insurance
Tickets and at-fault accidents raise rates
One of the best ways to maintain low insurance premiums in Nevada for youthful drivers is to be a safe driver and not get tickets or have accidents. The information below highlights how speeding tickets and at-fault fender-benders drive up car insurance costs for each age group. The information is based on a married female driver, full coverage, $500 deductibles, and no additional discounts are factored in.
In the example above, the average cost of an auto insurance policy in Nevada per year with no accidents and a clean driving record is $1,121. Factor in two speeding tickets and the average cost swells to $1,586, an increase of $465 each year. Then add in two accidents along with the two speeding tickets and the 12-month cost of insurance for young drivers in Nevada increases to an average of $3,404. That's an increase of $2,283, or $190 per month, just for not being a responsible driver!
Why are you paying too much for Nevada car insurance?
Nevada insurance rates are based on many factors that control the policy premium. Improving your credit rating, adding a teenager to your policy, or getting a DUI can cause premium changes that may make certain companies cheaper in comparison to the competition.
In addition, insurance companies file new Nevada car insurance rates as often as every three months in order to maintain liquidity for claims. A period of increased losses can cause additional price hikes, while lower claim levels can result in lower-cost Nevada car insurance rates.
To illustrate this point, the bar chart below shows the company with the cheapest car insurance in Nevada for a 30-year-old male driver with no accidents or violations, and good financial standing. Based on his current rating profile, Allied offers the most affordable car insurance rates in Nevada at $911 annually. This is $663 less than the average price paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive are the remaining cheapest Nevada auto insurance companies.
In this example, we will give the driver from the first rate comparison an accident surcharge, poor credit, and an imperfect driving record. Since each auto insurance company has their own guidelines for determining rates, comparing prices could now result in a new list of the cheapest Nevada car insurance companies as shown below.
GEICO now has the cheapest insurance rate in Nevada with Safeco, USAA, Nationwide, and Travelers also having competitive pricing. This example illustrates why Nevada drivers need to perform an extensive rate comparison when trying to get cheap auto insurance quotes for young drivers. Prices are impacted by many different factors and change substantially, so the most economical company three years ago may now be one of the more expensive options.
How to find budget-friendly car insurance for young drivers
The list below shows a few money-saving ideas that can help Nevada drivers buy cheaper car insurance.
- Avoid accidents and claims
- Discounts for being claim-free can be substantial
- Save money by obeying traffic laws and keeping a clean driving record
- Drop full coverage on older vehicles
- Raise your physical damage coverage deductibles
- Comparison shop at least once a year
That last tip is certainly important, as we emphasized in this piece. Coverage prices vary considerably, so don't be afraid to buy from a different company if a cheaper rate is available.
Many drivers prefer to stick with one company, but we do not recommend it if that stubbornness costs you big bucks every year. In less than five minutes you could shop around and find cheaper auto insurance for young drivers.