For your employer's vehicle, one of the big criteria that aid in calculating auto insurance rates is where you normally keep your vehicle in Nevada. Cities with more crime and/or more people like Winchester, Paradise, and Las Vegas tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from having to pay less for coverage.
The illustration below shows the highest-priced areas in Nevada for a company car to purchase car insurance in.
|7||North Las Vegas||$1,826|
|Find the Best Rates Go|
Premium amounts are estimated as the specific garaging location can decrease or increase premium rates considerably.
Finding good, reasonably-priced car insurance is easier said than done, and figuring out which companies offer the most affordable car insurance rates for a company car in Nevada calls for even more rate comparisons.
Every auto insurer has a proprietary method for filing rates in each state, so to begin we'll rank the car insurance companies that tend to be cheaper in Nevada. It's important that readers know that Nevada car insurance rates are determined by lots of factors which can substantially change the price of coverage. Simply having another birthday, buying a home, or having a fender bender may cause policy rate changes that can cause some rates to be higher-priced than the competition.
Best Car Insurance Prices in Nevada
Travelers generally has some of the most affordable car insurance rates in Nevada at around $912 per year. This is $662 less than the average rate paid by Nevada drivers of $1,574. Allied, Capital, American Family, and Oregon Mutual would also make the list of some of the lowest-priced Nevada auto insurance companies.
In the above example, if you currently have a policy with American Family and switched to Travelers, you might see annual savings of approximately $270. Customers with Oregon Mutual might save as much as $281 a year, and GEICO customers might reduce prices by as much as $307 a year.
To find the cheapest rates for your vehicle, click here to get quotes or visit several of the following companies.
These rates are averaged for all drivers and vehicles in Nevada and and are not figured with a rate discount for a company car. So the car insurance company that can offer you the best price may not even be in the top 20 companies in the list above. That point stresses why you need to compare as many prices as possible using your own driver information and specific vehicle type.
Rate difference between full and liability-only coverage
Paying a lower price for car insurance is important to the majority of people, and one of the quickest ways to buy cheaper insurance for a company car in Nevada is to buy only liability coverage. The example below illustrates the comparison of auto insurance rates with liability coverage only compared to full coverage. The information is based on no claims or violations, $1,000 deductibles, marital status is single, and no discounts are factored in.
Averaged for all age groups, full coverage on your policy costs $1,728 per year more than buying just liability insurance. Many of you may wonder if it's a good idea to buy full coverage. There is no set guideline for phasing out comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
Impact of speeding/accidents on car insurance rates
The common sense way to find the cheapest car insurance premiums in Nevada for your employer's vehicle is to be an attentive driver and not have accidents or get tickets. The diagram below shows how violations and accidents can increase insurance prices for different insured age categories. The rate quotes are based on a single female driver, full coverage, $250 deductibles, and no discounts are applied.
The chart shows that the average cost of auto insurance per year with a clean driving record and no accidents is $2,091. Get written up for two speeding tickets and the average cost jumps to $2,808, an increase of $717 each year. Now include two accidents along with the two speeding tickets and the 12-month cost of car insurance for a company car in Nevada jumps again to an average of $5,437. That's an increase of $3,345, or $279 per month, just for not being attentive to the road!
Why are you paying too much for Nevada car insurance?
Nevada car insurance rates are determined by lots of factors which can substantially decrease or increase the price you pay for coverage. Improving your credit rating, getting married, or getting a couple of tickets may prompt premium changes resulting in some rates now being affordable when they were higher priced. Not only may things change on your end, but auto insurance companies change premium rates multiple times each year to ensure their profitability. Unexpectedly high claims can result in additional price hikes, while a lower level of claims can result in lower-priced Nevada car insurance rates.
To help illustrate this point, the chart below shows rates for the cheapest car insurance in Nevada for a 40-year-old female driver with a clean driving record, no accidents, and good financial standing. If we estimate rates based on her current situation, Allied may have the most affordable car insurance rates in Nevada at $939 a year. This is $635 less than the average price paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive are the rest of the cheapest Nevada auto insurance companies.
Now we will give the driver from the above example a claim or two, a lower credit rating, and a few traffic violations. Since each auto insurance company has a proprietary formula for setting rates, comparing prices may now show a completely different list of companies as shown below.
GEICO now has the best insurance rate in Nevada with Travelers, Nationwide, Capital, and USAA now being in the top five. This example illustrates why consumers need to take the time to take the time to shop around to find cheap auto insurance quotes for a company car.
Auto insurance prices can be determined by many different factors and change substantially, so the cheapest company a year ago may now be wasting a lot of money.