Are you tired of wondering where the money will come from to pay your insurance bill each month? You're in the same situation as many other Nevada drivers.
Unimaginable but true, almost 70% of drivers in Nevada kept their coverage with the same insurance company for well over three years, and 38% of customers have never compared insurance rates at all. Many drivers in America could pocket roughly $860 a year just by comparing rates, but they don't believe the big savings they would realize if they switched.
You have so many insurers to pick from, and even though it's nice to have a selection, it makes it harder to find the best rates for your vehicles.
Our objective in writing this article is to instruct you on how insurance works and some tips to save money. If you're already insured, you will surely be able to buy cheaper insurance using these tips. But Nevada car owners benefit from understanding how companies price insurance differently because it varies considerably.
When shopping for Toyota Yaris insurance in Las Vegas there are multiple ways to compare quotes from all the different companies. The fastest way to lower the rate you pay for Toyota Yaris insurance is to perform an online rate comparison.
It's so fast and easy to compare quotes online that it makes it obsolete to spend time driving to insurance agents' offices. Shopping for auto insurance online can eliminate the need for a local agent unless you want the trained advice that only an agent can give. Although you can price shop online but have your policy serviced through an agent.
When price shopping your coverage, more quotes increases your odds of finding a lower rate than you're paying now.
The companies shown below have been selected to offer price quotes in Nevada. If multiple companies are listed, we suggest you get rate quotes from several of them to find the most affordable car insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yaris 2-Dr Hatchback||$168||$324||$348||$20||$104||$964||$80|
|Yaris 4-Dr Hatchback||$124||$248||$314||$18||$94||$798||$67|
|Yaris 4-Dr Sedan||$192||$324||$404||$24||$120||$1,064||$89|
|Yaris S 2-Dr Hatchback||$148||$252||$348||$20||$104||$872||$73|
|Yaris S 4-Dr Hatchback||$228||$470||$348||$20||$104||$1,170||$98|
|Yaris S 4-Dr Sedan||$166||$334||$348||$20||$104||$972||$81|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Table data does not factor in garaging location in Las Vegas which can impact price quotes greatly.
How much more does full coverage cost?
The information below illustrates the difference between Toyota Yaris premium costs with full coverage and liability only. The premiums are based on no claims or driving violations, $500 deductibles, single male driver, and no discounts are factored in.
When to drop comprehensive and collision coverage
There isn't a steadfast formula that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let's assume your Toyota Yaris settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $7,000 after paying your policy deductible. If you are paying over $700 a year for physical damage coverage, then you might want to consider buying only liability coverage.
There are some circumstances where dropping full coverage is not a good idea. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should not eliminate full coverage.
Why you need to buy auto insurance
Even though it can be expensive, paying for auto insurance is required by state law in Nevada and it also provides benefits you may not be aware of.
- Most states have mandatory liability insurance requirements which means you are required to carry specific limits of liability protection if you drive a vehicle. In Nevada these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your vehicle has a lienholder, most lenders will require you to buy insurance to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Toyota at an extremely high rate and require you to pay much more than you were paying before.
- Insurance protects both your assets and your vehicle. It will also cover hospital and medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if you are sued as the result of your driving. If damage is caused by hail or an accident, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of carrying enough insurance more than cancel out the cost, particularly when you have a large claim. But the average American driver is overpaying over $750 every year so you should quote your policy with other companies at every policy renewal to save money.
Will you really save $441 on auto insurance?
Popular auto insurance providers such as State Farm, Allstate and GEICO seem to constantly run television, radio, and online ads. All the companies tend to make the same promise that you can save if you just switch your coverage to them. How can each company charge lower premium rates? It's all in the words they use.
All the different companies have specific characteristics for the type of customer that earns them the highest profit. For instance, this type of insured could possibly be between 25 and 40, has never had a policy lapse, and drives less than 7,500 miles a year. A customer who matches that profile will get low premium rates as well as pay quite a bit less when switching companies.
Insureds who do not fit these criteria will see more expensive rates which usually ends up with business not being written. If you listen to the ad wording, they say "people who switch" but not "everyone who gets a quote" save that much. This is how companies can make claims like that.
Because of this risk profiling, it's extremely important to get price quotes at each policy renewal. Because you cannot predict which company will have the lowest rates for your situation.
Discounts mean cheaper rates for Toyota Yaris insurance in Las Vegas
Companies that sell car insurance do not advertise every policy discount very clearly, so below is a list some of the more common and also the more inconspicuous insurance savings.
- Seat Belt Usage - Drivers who require all vehicle occupants to buckle their seat belts can save a little on medical payment and PIP coverage.
- New Car Discount - Putting insurance on a new Yaris can save you some money due to better safety requirements for newer models.
- Include Life Insurance and Save - Select insurance carriers reward you with a break if you buy some life insurance too.
- Drive Safe and Save - Safe drivers can get discounts for up to 45% lower rates than drivers with accident claims.
- Auto/Home Discount - If you can bundle your auto and home insurance and insure them both with the same insurance company they may give you a discount of approximately 10% to 15%.
- Student Driver Training - Make teen driver coverage more affordable by requiring them to successfully take a driver's education course in school.
- E-sign - Some companies will give a small break get Las Vegas car insurance over the internet.
You should keep in mind that many deductions do not apply to the overall cost of the policy. A few only apply to individual premiums such as comprehensive or collision. So when it seems like you would end up receiving a 100% discount, you're out of luck.
A list of insurance companies and some of the premium reductions they offer are:
- Farm Bureau has discounts for good student, multi-policy, 55 and retired, multi-vehicle, safe driver, youthful driver, and renewal discount.
- MetLife may have discounts that include accident-free, good student, claim-free, multi-policy, defensive driver, good driver
- Progressive policyholders can earn discounts including good student, online signing, homeowner, online quote discount, continuous coverage, and multi-policy.
- AAA includes discounts for pay-in-full, AAA membership discount, education and occupation, multi-car, and multi-policy.
- American Family offers discounts for Steer into Savings, air bags, TimeAway discount, bundled insurance, mySafetyValet, multi-vehicle, and accident-free.
- GEICO has savings for membership and employees, good student, federal employee, military active duty, and multi-vehicle.
- State Farm offers premium reductions for good driver, Drive Safe & Save, defensive driving training, multiple autos, and multiple policy.
If you are trying to find the cheapest Toyota Yaris rate quotes, ask every company how many discounts you can get. A few discounts might not apply everywhere.
Auto insurance is available from agents near you
A lot of people would prefer to go talk to an agent and we recommend doing that A nice benefit of getting online price quotes is you may find better rates and still have a local agent. Supporting local agents is especially important in Las Vegas.
Once you complete this simple form, your coverage information is transmitted to participating agents in Las Vegas who will give you bids and help you find cheaper coverage. You won't even need to do any legwork because prices are sent immediately to your email address. Get lower rates and a licensed agent to work with. If for some reason you want to get a rate quote from one company in particular, you would need to visit that company's website and submit a quote form there.
When finding a reputable agency, there are two different types of agents and how they can service your needs differently. Auto insurance policy providers are classified as either independent or exclusive depending on the company they work for.
Independent Agents (or Brokers)
Agents of this type are normally appointed by many insurers so as a result can place your coverage through many companies and get you the best rates possible. To move your coverage to a new company, they simply move your policy to a different company and the insured can keep the same agent.
If you are comparing rate quotes, you will definitely want to get several quotes from several independent insurance agents to maximize your price options.
Shown below is a partial list of independent insurance agents in Las Vegas that may be able to give cheap rate quotes.
Nationwide Insurance: Sage Insurance Services Inc Agency
1081 S Cimarron Rd, Ste B56 - Las Vegas, NV 89145 - (702) 613-0000 - View Map
Agents that choose to be exclusive can only provide one company's prices like American Family, State Farm, and Allstate. Exclusive agencies are unable to shop your coverage around so if the price isn't competitive there isn't much they can do. These agents receive a lot of sales training on sales techniques which helps them sell insurance even at higher premiums.
Below is a list of exclusive insurance agents in Las Vegas who can help you get rate quotes.
Finding the right insurance agent needs to be determined by more than just the price. Any good agent in Las Vegas should know the answers to these questions.
- Is there a local claims center in Las Vegas?
- How many years have they been established?
- How are they compensated?
- What will you get paid if your car is a total loss? How is that amount determined?
- If you are a high risk driver, do they have special markets for your coverage?
- Do they make recommendations based only on price?
- Are they giving you every discount you deserve?
- How long have they worked with personal auto insurance coverage?
Find affordable rates by being thorough
We just covered many ideas to shop for Toyota Yaris insurance online. The key thing to remember is the more you quote Las Vegas car insurance, the more likely it is that you will get a better rate. You may even discover the best price on auto insurance is with the smaller companies. These smaller insurers can often insure niche markets at a lower cost than their larger competitors like Allstate, GEICO and Progressive.
As you prepare to switch companies, it's not a good idea to buy lower coverage limits just to save a few bucks. In too many instances, an insured dropped uninsured motorist or liability limits only to regret at claim time that the savings was not a smart move. The aim is to buy a smart amount of coverage at the lowest possible cost but still have enough coverage for asset protection.
Much more information about auto insurance in Nevada is located at the links below
- Avoiding Deer Collisions (Insurance Information Institute)
- What Car Insurance is Cheapest in Sparks, Nevada? (FAQ)
- Who Has Cheap Auto Insurance Rates for Drivers Over Age 70 in Nevada? (FAQ)
- Who Has the Cheapest Nevada Auto Insurance for Uninsured Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Drivers with a DUI in Nevada? (FAQ)
- What is the Cheapest Auto Insurance in Spring Valley, NV? (FAQ)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- What is a Telematics Device? (Allstate)
- Teen Driving Statistics (iihs.org)