One of the many criteria that help determine car insurance rates is the neighborhood you call home. 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 with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.
The table below sorts the highest-priced places in Nevada for low mileage drivers in which to buy car insurance.
|Rank||City||Premium Per Year|
|6||North Las Vegas||$1,882|
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Information shown are approximated as zip code location can increase or decrease auto insurance rates noticeably.
Determining which companies quote the lowest-priced auto insurance rates for low mileage drivers in Nevada may require a little more work than just getting one or two price quotes. Each insurer uses their own calculation for setting rates, so let's take a look at the auto insurance companies with the overall cheapest rates in Nevada.
We do need to point out that Nevada auto insurance rates are impacted by many factors that may substantially change your annual premium. Simply getting older, buying another vehicle, or getting a few speeding tickets can produce rate changes that can now make some companies more affordable than others.
Cheap Insurance Rates in Nevada
|Rank||Company||Cost Per Year|
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Travelers may offer some of the best car insurance rates in Nevada at around $903 each year. This is $671 less than the average policy premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive also rank well as some of the best Nevada car insurance companies.
As shown in the table above, if you are a policyholder with Oregon Mutual and switched to Travelers, you might see an annual premium reduction of around $279. Customers with Progressive might save as much as $287 a year, and GEICO insureds might lower prices by $316 a year.
To see if you're overpaying, click here to start your free quote or quote prices from the following companies.
Bear in mind that those rates are averages across all types of drivers and the different vehicles they drive and and are not calculated with a rate discount for low mileage drivers. 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 affirms the importance of why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
The car, truck, or SUV that needs insurance is one of the biggest factors that determines the availability of affordable car insurance for low mileage drivers. Vehicles with higher performance, poor crash test ratings, or a track record of large liability claims will cost significantly more to insure than safer models.
The next table estimates coverage premiums for a number of the more affordable vehicles to insure in Nevada.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$669|
|Hyundai Elantra GLS Touring Station Wagon||$676|
|Honda Accord LX-P 4-Dr Sedan||$730|
|Toyota Tacoma 2WD||$776|
|Toyota RAV4 Limited 2WD||$791|
|Chevrolet Malibu LS||$796|
|Chevrolet Silverado LS Regular Cab 2WD||$793|
|Ford Escape Limited 4WD||$795|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$802|
|Dodge Grand Caravan Crew||$806|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$814|
|Ford Explorer XLT 2WD||$819|
|Toyota Camry SE||$833|
|Chevrolet Equinox LTZ 2WD||$848|
|Nissan Rogue S AWD||$850|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$865|
|Volkswagen Jetta LE 4-Dr Sedan||$867|
|Honda Odyssey EX||$872|
|Ford Edge SEL AWD||$880|
|Chevrolet Impala LS||$872|
|Ford Focus SES 4-Dr Sedan||$898|
|Toyota Camry Hybrid||$907|
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Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Prices do not factor in specific location which can increase or decrease prices significantly.
Based on these rates, you can conclude that cars like the Honda CR-V, Hyundai Elantra, and Honda Accord are likely to be some of the most affordable vehicles to insure for infrequent drivers.
Full coverage or liability only
Buying cheaper auto insurance is probably important to the majority of drivers, and one common way to buy cheap insurance for low mileage drivers in Nevada is to only buy liability insurance. The example below illustrates the comparison of insurance prices with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no accidents or driving violations, $100 deductibles, marital status is single, and no discounts are applied.
As an average, physical damage coverage on your policy costs an extra $1,768 per year more than buying just liability insurance. Many drivers may wonder when is it safe to stop buying full coverage. There is no clear-cut formula for excluding full coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let's pretend your vehicle's settlement value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $10,500 after paying your deductible. If you are paying over $1,050 a year to have full coverage, then you might consider buying liability only.
Cautious drivers save money
The ideal way to find low auto insurance premiums in Nevada for infrequent drivers is to drive safe and not receive tickets or have accidents. The example below illustrates how speeding tickets and fender-benders raise auto insurance rates for each age group. The data assumes a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.
In the chart above, the average cost of a car insurance policy in Nevada per year with no accidents or violations is $1,239. Get two speeding tickets and the average cost hikes up to $1,648, an increase of $409 each year. Then add one accident along with the two speeding tickets and the annual cost of auto insurance for low mileage drivers in Nevada increases to an average of $2,064. That's an increase of $825, or $69 per month, just for not being a responsible driver!
The importance of comparing Nevada car insurance rates
Nevada auto insurance rates are based on many factors that will increase or decrease the price you have to pay. Simply having another birthday, having a teen driver, or getting caught speeding can cause premium changes that may make certain companies cheaper than others. Not only may your risk profile change, but insurers file new rates every year in order to protect their financial rating. A period of increased losses can cause rate increases, while lower claim levels can produce lower-priced Nevada car insurance rates.
As an example, the data below analyzes the cheapest car insurance in Nevada for a 35-year-old male driver with a good driving record, no prior claims, and solid credit. If we estimate prices based on his current rating profile, Travelers may offer the cheapest car insurance rates in Nevada at $903 each year. This is $671 less than the average premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family are the remainder of the top five cheapest Nevada auto insurance companies.
In the next rate comparison, we'll give the driver from the first rate comparison an at-fault accident, poor credit, and a speeding ticket. Due to the fact that every auto insurer has their own unique process for setting rates, comparing insurance quotes could result in a significantly different list of companies as shown below.
Progressive now has the lowest price in Nevada with Nationwide, USAA, Safeco, and Allied now being in the top five. This example demonstrates why it is important to take the time to shop around when trying to find the most budget-friendly insurance rates for low mileage drivers.
Insurance prices can be altered by many risk factors and change substantially, so the cheapest rate two years ago may now be quite expensive.