The car, truck, or SUV that needs insurance is a large consideration when shopping for low-priced insurance for a school permit. Vehicles with economical engines, a great safety record, or a positive history of liability claims will cost significantly less to insure than higher performance models. The table below features auto insurance premiums for a number of the most affordable automobiles to insure in Nevada.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$2,727|
|Ford Escape Limited 2WD||$2,735|
|Volkswagen Jetta S 2.5 Station Wagon||$2,904|
|Hyundai Elantra SE Touring Station Wagon||$2,912|
|Ford F-150 STX Super Cab 2WD||$3,000|
|Dodge Grand Caravan CV||$3,028|
|Ford Explorer XLT 4WD||$3,034|
|Jeep Wrangler Rubicon 4WD 2-Dr||$3,028|
|Toyota Tacoma 4WD||$3,034|
|Chevrolet Impala LS||$3,177|
|Chevrolet Malibu Hybrid||$3,205|
|Toyota RAV4 Limited 2WD||$3,210|
|Ford Fusion S 4-Dr Sedan||$3,205|
|Nissan Altima 2.5 4-Dr Sedan||$3,211|
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Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate information does not factor in zip code location which can alter coverage rates significantly.
Looking at the numbers, makes and models like the Honda CR-V, Ford Escape, Volkswagen Jetta, Hyundai Elantra, and Toyota Prius are going to be the cheapest vehicles to insure for a learners permit. The cost of a car insurance policy will be more expensive just due to the fact that there is more inherent risk for a school permit, but in general those particular models will have the best insurance prices that you'll find.
For a learners permit, one of the more important components that determine the annual cost of car insurance is your zip code. Areas with a lot of weather claims or more people like Winchester, Paradise, and Las Vegas are more likely to have higher rates, whereas areas that tend to be more rural get the luxury of paying less.
The following table lists the most expensive areas in Nevada for a school permit to buy auto insurance in.
|7||North Las Vegas||$1,844|
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Premium amounts are approximated as the specific garaging location can lower or raise rates greatly.
Full coverage rates compared to liability only
Paying a lower price for insurance is the goal of most vehicle owners, and a good way to buy cheap insurance for a school permit in Nevada is to buy only liability coverage. The example below visualizes the comparison of auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on no accidents, no driving violations, $1,000 deductibles, drivers are single, and no policy discounts are applied.
Averaged for all ages 20 through 70, comprehensive and collision coverage on your policy costs an additional $1,297 per year more than just buying liability only. That is a large expense which might make you wonder if buying full coverage is a waste of money. There is no specific rule to stop buying physical damage coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of any settlement you would receive from your insurance company, then it's probably a good time to buy liability coverage only.
For example, let's say your vehicle's settlement value is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, you would only receive $6,500 after paying your deductible. If you are paying more than $650 a year for your policy with full coverage, then it might be time to buy liability only.
There are a few cases where buying only liability insurance is not advised. If you haven't paid off your loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should not drop full coverage.
Safe drivers pay less for insurance
The obvious way to enjoy cheap insurance premiums for a learners permit is to be a good driver and avoid getting tickets or having accidents. The example below demonstrates how traffic citations and accidents influence insurance premiums for different categories of driver ages. The rate quotes are based on a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.
The data in the chart shows the average cost of an auto insurance policy in Nevada per year with no violations or accidents is $1,321. Receive two speeding tickets and the average cost surges to $1,867, an increase of $546 each year. Next add one accident along with the two speeding tickets and the yearly cost of insurance for a school permit in Nevada goes up to an average of $2,433. That's an increase of $1,112, or $93 per month, just for a couple of infractions!
The diagram below highlights how deductible selection can raise or lower insurance costs when quoting cheap insurance for a school permit in Nevada. The data assumes a married male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
As shown above, a 50-year-old driver could save $298 a year by switching from a $100 deductible to a $500 deductible, or save $452 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old example, could possibly save $1,002 or even more by choosing a higher deductible. If you do decide to increase your deductibles, it is necessary to have enough in a savings account to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Tips to find budget-friendly car insurance for a school permit in Nevada
The list below details many thrifty ideas that can help you quote low-cost car insurance.
- Maintain a safe distance and avoid accidents
- Avoid price increases by not filing claims
- Remove physical damage coverage on older vehicles
- Increase deductibles to save money
- Do not get tickets
- Compare rates once a year for cheaper prices
The last suggestion is very vital, as we discussed in the prior information. Auto insurance prices adjust often, so drivers shouldn't be reluctant to buy a policy from a new company if you can find a cheaper rate. Staying with the same car insurance company is fine, but we do not recommend it if that dedication is costing lots of money. Take a few minutes and compare rates to find cheaper car insurance for a school permit.