There isn't anyone who gets a kick out of paying for car insurance, in particular when the cost is too high.
Shockingly, 70% of consumers have purchased from the same company for at least four years, and nearly 40% of drivers have never compared rate quotes at all. Las Vegas consumers can cut their rates by approximately $550 a year just by getting comparison quotes, but most undervalue the large savings they would see if they switched.
Due to the large number of insurance providers from which to choose, it's difficult to pick the lowest cost car insurance company.
When price shopping your coverage, quoting more helps increase your odds of locating more affordable rates. Some companies don't provide rate quotes online, so you need to compare rates from them, too.
The providers in the list below have been selected to offer free quotes in Las Vegas, NV. If multiple companies are listed, it's a good idea that you visit several of them in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$208||$330||$262||$16||$78||$894||$75|
|CR-V EX 2WD||$124||$234||$340||$20||$102||$820||$68|
|CR-V LX 4WD||$154||$244||$270||$16||$80||$764||$64|
|CR-V EX 4WD||$302||$394||$344||$20||$102||$1,162||$97|
|CR-V EX-L 2WD||$258||$386||$268||$16||$80||$1,008||$84|
|CR-V EX-L 4WD||$214||$328||$354||$20||$106||$1,022||$85|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Rate information does not factor in garaging location in Las Vegas which can lower or raise auto insurance rates noticeably.
Difference between liability only and full coverage rates
The diagram below illustrates the comparison of Honda CR-V insurance prices with full coverage compared to only the Nevada minimum liability coverage. Data assumes no tickets, no at-fault accidents, $500 deductibles, married female driver, and no policy discounts are applied.
When to switch to liability coverage only
There isn't a written rule to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let's assume your Honda CR-V settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after you pay the deductible. If you are paying over $300 annually for full coverage, then it could be time to drop full coverage.
There are a few cases where only buying liability is not a good plan. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
Discounts for cheaper insurance rates
Some insurance providers don't necessarily list every discount in an easy-to-find place, so the list below gives a summary of both well-publicized and the harder-to-find credits available to lower your premiums when you buy Las Vegas car insurance online.
- Smart Student Discounts - Excelling in school can save 20 to 25%. Many companies even apply the discount to college students until age 25.
- Data Collection Discounts - Las Vegas drivers who agree to allow driving data collection to scrutinize driving patterns by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could save a few bucks as long as they are good drivers.
- Own a Home - Being a homeowner can help you save on insurance because it is proof of financial responsibility.
- E-sign Discounts - Some insurance companies provide a small discount simply for signing digitally online.
- Auto/Home Discount - If you insure your home and vehicles and place coverage with the same company you may earn up to 20% off your total CR-V insurance premium.
Consumers should know that most credits do not apply to the overall cost of the policy. Some only apply to individual premiums such as collision or personal injury protection. Despite the appearance that you could get a free insurance policy, company stockholders wouldn't be very happy. Any qualifying discounts will lower your policy premium.
A few popular companies and a partial list of their discounts are detailed below.
- GEICO offers discounts for good student, driver training, federal employee, five-year accident-free, and military active duty.
- MetLife may have discounts that include claim-free, good driver, defensive driver, accident-free, good student, and multi-policy.
- State Farm offers premium reductions for student away at school, Steer Clear safe driver discount, multiple autos, multiple policy, passive restraint, defensive driving training, and accident-free.
- Progressive offers discounts including multi-policy, homeowner, online signing, good student, and online quote discount.
- Mercury Insurance may include discounts for ease of repair, location of vehicle, professional/association, multi-car, age of vehicle, accident-free, and annual mileage.
- 21st Century may offer discounts for automatic seat belts, teen driver, student driver, theft prevention, 55 and older, anti-lock brakes, and early bird.
- Allstate has discounts for FullPay discount, passive restraint, early signing, auto/life discount, multi-policy, premier plus, and utility vehicle.
It's a good idea to ask every company which discounts can lower your rates. Some of the discounts discussed earlier may not apply in your state. For a list of insurance companies who offer discounts in Nevada, click here.
Las Vegas Insurance Rates are Influenced by These Factors
Many different elements are part of the equation when premium rates are determined. Some of the criteria are obvious such as your driving history, although some other factors are not as apparent such as whether you are married or your commute time.
- Raising coverage deductibles lowers prices - Your deductibles define how much you are required to pay if a claim is determined to be covered. Physical damage insurance, also called 'full coverage', protects your car from damage. Examples of some claims that would be covered are rearending another vehicle, animal collisions, and damage from wind. The more expense you pay before a claim is paid (deductible), the better rate you will receive.
- Teen drivers are expensive to insure - Older drivers have been proven to be more responsible, are lower risk to insure, and tend to be get fewer driving tickets.Drivers with little experience have been known to be inattentive when at the wheel of a vehicle so they pay higher car insurance rates.
- Your liability coverage limits - Your car insurance policy's liability coverage kicks in when you are ruled to be at fault for an accident. Your liability coverage provides you with a defense in court which can be incredibly expensive. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so do not cut corners here.
- Job can influence rates - Do you have a high-stress occupation? Occupational choices like real estate brokers, social workers and stock brokers have the highest rates in part from high stress and lots of time spent at work. On the flip side, occupations like professors, historians and retirees pay lower than average rates.
- Getting married equates to better rates - Being married can actually save you money on your car insurance bill. It demonstrates that you tend to be more stable financially and it's proven that drivers who are married are more cautious.
- If you don't need it don't buy it - There are many extra add-on coverages that you can buy but may not be useful. Coverages like roadside assistance, death and dismemberment, and term life insurance may be costing you every month. These coverages may sound good when you first buy your policy, but if you've never needed them in the past eliminate them to save money.
- High credit scores save money - A driver's credit score will be a significant factor in determining your rates. So if your credit rating could use some work, you could potentially save money when insuring your Honda CR-V by taking the time to improve your credit score. Drivers who have very good credit scores tend to file fewer claims and have better driving records than those with worse credit.
- Gender impacts costs - Statistics have proven that females tend to be a little less risky than males. It does not mean women are better drivers. Both sexes get in auto accidents at about the same rate, but the male of the species get into accidents with more damage. They also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.
- Insurance losses for a Honda CR-V - Auto insurance companies analyze historical claim data in order to profitably underwrite each model. Vehicles that the data shows to have a trend towards higher claim severity or frequency will have a higher premium rate. The data below shows the insurance loss data for Honda CR-V vehicles.
For each type of coverage, the loss probablilty for all vehicles, as a total average, is considered to be 100. Numbers that are below 100 imply a favorable loss record, while numbers above 100 point to more claims or an increased probability of a larger loss.
Auto Insurance Loss Data for Honda CR-V Models
Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda CR-V 4dr 2WD 68 81 58 93 86 77 Honda CR-V 4dr 4WD 69 82 69 90 87 78
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Local neighborhood agents and car insurance
Certain consumers still like to get professional advice from a licensed agent and that is not a bad decision One of the benefits of comparing car insurance online is that you can obtain the best rates and still choose a local agent. And providing support for local insurance agencies is still important in Las Vegas.
Upon completion of this short form, your insurance coverage information is submitted to local insurance agents who will give you bids for your coverage. It makes it easy because there is no need to even leave your home because quoted prices will be sent to you instantly. You can find lower rates and a licensed agent to work with. If you need to get a rate quote from a specific car insurance provider, feel free to search and find their rate quote page and submit a quote form there.
Exclusive agents vs. Independent agents
If you need to find a local Las Vegas insurance agent, you must know there are a couple different types of agencies to choose from. Agents can be described as either independent agents or exclusive agents.
Independent Insurance Agents
Agents that choose to be independent are normally appointed by many insurers so they can write business with a variety of different insurance companies and find you the best rates. If you want to switch companies, the business is moved internally and you don't have to find a new agent. When comparing car insurance rates, we highly recommend that you get some free quotes from a couple of independent agencies for maximum quote selection.
Listed below is a partial list of independent agents in Las Vegas who can help you get free car insurance quotes.
Exclusive Insurance Agents
Agents of this type can only provide pricing for a single company like State Farm, AAA, and Liberty Mutual. Exclusive agents cannot provide prices from multiple companies so they have no alternatives for high prices. They are very knowledgeable on their company's products which helps offset the inability to provide other markets.
The following is a list of exclusive agents in Las Vegas that can give you comparison quotes.
Finding the right insurance agency needs to be determined by more than just the price. These are some questions your agent should answer.
- What discounts might you be missing?
- How long has the business existed?
- Will you work with the agent or an assistant?
- Are they full-time agents?
- If they are an independent agency in Las Vegas, which companies do they recommend?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
After talking to the agent and getting positive feedback to these questions in addition to an acceptable price estimate, you've probably found a car insurance agent that is professional and can properly insure your vehicles.
Do I need special coverages?
When choosing your policy for your personal vehicles, there really is no "best" method to buy coverage. Everyone's needs are different and your insurance should unique, too. For example, these questions can help discover if you would benefit from an agent's advice.
- Which is better, split liability limits or combined limits?
- Is coverage enough to protect my assets?
- What should my uninsured motorist coverage limits be in Nevada?
- Is my camper covered for physical damage?
- What are the liability requirements in my state?
- Do I have newly-acquired coverage?
- Can my teen drive my company car?
- Do I need rental car coverage?
- What if I don't agree with a claim settlement offer?
- Am I missing any policy discounts?
If it's difficult to answer those questions but a few of them apply, you might consider talking to an agent. If you don't have a local agent, fill out this quick form or click here for a list of insurance companies in your area.
Buyer beware of insurance advertising tricks
Respected companies like Progressive, GEICO, Allstate and State Farm constantly bombard you with television, radio, and online ads. All the ads make an identical promise that people will save if you move your insurance policy to them. How does every insurance company have lower policy pricing? It's all in how they say it.
All companies have strict underwriting profiles for the type of driver that will be a good risk. An example of a profitable insured could possibly be a married male, is a homeowner, and insures a new vehicle. Someone that meets those criteria will get very good Las Vegas rates as well as save money with a new company.
Insureds who may not quite match these standards will be charged higher premiums which leads to the customer buying from someone else. The ads state "people who switch" but not "everyone who gets a quote" save that much money. That's the way insurance companies can confidently advertise the savings.
Because of the profiling, you should compare rate quotes every year. It's not possible to predict which company will have the best premium rates at this point in time.
Don't give up on cheap rates
The cheapest Honda CR-V insurance in Las Vegas can be sourced online as well as from independent agents in Las Vegas, so you need to shop Las Vegas car insurance with both to have the best chance of lowering rates. Some insurance providers do not offer rates over the internet and most of the time these small, regional companies sell through independent agencies.
As you quote Las Vegas car insurance, it's not a good idea to reduce coverage to reduce premium. There have been many cases where someone sacrificed collision coverage and found out when filing a claim that they should have had better coverage. Your strategy should be to buy a smart amount of coverage at an affordable rate, but don't skip important coverages to save money.
We just presented a lot of tips how to lower your Honda CR-V insurance premium rates in Las Vegas. The most important thing to understand is the more companies you get prices for, the higher the chance of saving money. Consumers could even find that the biggest savings come from the smaller companies. Smaller companies can often provide lower prices in certain areas compared to the large companies like Progressive or GEICO.
Additional car insurance information can be found at these links:
- Electronic Stability Control FAQ (iihs.org)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Top Signs Your Brakes are Giving Out (State Farm)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Insuring a Leased Car (Insurance Information Institute)