How to Find Affordable Car Insurance in Nevada

Fran
Lucy Lazarony
July 16, 2020

In Nevada, the average cost for car insurance is $1,802 per year, which is 26 percent higher than the national average. The people of Nevada could use some breaks on their car insurance policies. Luckily, there are tips and strategies that work in lowering car insurance premiums. We will discuss those later on, but first we will take a closer look at car insurance in Nevada.

State Minimum Liability Requirements

If you ever cause a car crash, liability insurance pays for the other people’s injuries and property damage, up to your liability limit. Each state sets the minimum liability requirements for the drivers in their state.

In Nevada, the state minimum liability requirements are $25,000 bodily injury per person, $50,000 bodily injury per accident and $20,000 property damage per accident.

The average cost of the minimum liability coverage is $722 per year.

Nevada Is an At-fault State

When it comes to auto insurance, Nebraska is an at-fault state. This means drivers in Nevada are responsible for any damage they cause to another vehicle. An insurance adjuster determines who is at fault in an accident. PIP, or Personal Injury Protection is required in Nevada.

A Comprehensive Policy Costs More

In Nevada, a more comprehensive car insurance policy with collision coverage and comprehensive coverage and $1,000 deductibles would cost about $1,677 on average.

Collision auto insurance is coverage that helps to repair or replace your car if it is damaged in an at-fault accident with another vehicle or object such as a tree or a fence. Comprehensive auto insurance covers events that aren’t covered by collision coverage. These events include vandalism, theft, fire and damages from weather such as a windstorm, a hailstorm, a hurricane and a tornado.

If you have a loan on a car, your lender will require you to carry both collision coverage and comprehensive coverage. A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Choosing a high deductible is one way to save money on your auto insurance premium.

Why Is Car Insurance So Expensive in Nevada?

Much of it has to do with Las Vegas and its growing population. Accident claims are on the rise in the city and there has been a rise in auto thefts as well. Las Vegas also has a high prevalence of drunk driving. All these things lead to higher auto insurance rates.

How to Save Money on Car Insurance

Ready for those tips and strategies for saving money on car insurance? Here they come.

Give your credit score a boost. Want lower auto insurance? Get good credit. Insurance companies have been using consumer credit data to assign risk pools and set policy rates since the mid-1990s. If you have good credit, you will pay less for car insurance. If you have no or poor credit, you will pay much more for insurance. In Nevada, a driver with excellent credit saves around $2,426 per year on car insurance compared with a driver with poor credit. To improve your credit, get past due accounts current, pay down debt and stop taking on new debt. Get in the habit of paying your bills on-time, every time. This will help you to build up a positive payment history, which is good for your credit score.

Be a married motorist. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving habits. Because of this, married motorists pay less in auto insurance than singles. In Nevada, married motorists save $98 per year on car insurance.

Stick to the rules of the road. If you are a safe and responsible driver and you follow the rules of the road, you will save money on your car insurance. In Nevada, drivers without a recent at-fault accident save 34 percent on car insurance. But break a few rules and that premium goes up. In Nevada, car insurance premiums increase by 37 percent after a DUI, 34 percent after an at-fault accident and 19 percent after a speeding ticket. What does that mean in dollars and cents? In Nevada, a first, minor, at-fault accident will increase your car insurance by an average of $502 per year. A DUI will increase an auto insurance premium by as much as $644 per year, if not more. If you’ve been a good driver be sure to ask your insurance company for a good driver discount. You’ve earned it with your driving behavior out on the road.

Snap up a multi-car discount. Got more than one car to insure? Insure them with the same auto insurance company and you will save money on your premiums.

Pay less often. Rather than paying monthly auto insurance bills, try paying the entire annual amount or six-months amount. Your premium is lower when you pay once or twice a year.

Bundle your policies. Bundle your auto insurance policy with another insurance policy such as a homeowners policy and save money.

Less insurance for older cars. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision coverage and comprehensive coverage any longer.

Check safety features. Certain anti-theft and safety features will lower your auto insurance premium. So check the features on your car with your auto insurance company and see if any warrant a discount.

Review memberships. Members of some professional organizations and affiliates get discounts on car insurance. Check to see if the memberships in your wallet qualify you for a discount on your car insurance.

Check for discounts. The good driver discount has been mentioned. But there are discounts for students and veterans as well. So reach out to your insurance company if you qualify.

Be a female driver. Women make fewer accident claims than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Choose a high deductible. Choosing a high deductible will lower your auto insurance premium, especially on newer cars. Just be sure to put the deductible amount in a small emergency fund. That way the money will be there should you need to make an insurance claim.

Stick with your coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your auto insurance coverage and save money.

Stay low with mileage. Want to save money on car insurance? Go low with your mileage. Heavy commuters pay more for car insurance. Low-mileage drivers pay less.

Check your age. Drivers who are younger than 25 and older than 65 have more serious accidents and pay more for their car insurance. Drivers of the in-between ages pay less.

Be a homeowner. Statistics show that people who own homes drive more safely. So let your insurance company know that you own your home and enjoy the savings on your auto insurance premium.

Pick safety. If you live in a neighborhood with high accident claims and auto theft, you will pay more for your car insurance. If you live in a neighborhood with few accident claims and low crime, you will pay less on your car insurance. So choose a safe neighborhood and save money on car insurance.

Shop around. One of the best ways to save money on car insurance is to shop around. You will want to get insurance quotes from several different insurance companies. SmartFinancial makes this easy to do. Choose the type of insurance you are looking for and a zip code to get started. Next, answer a few, quick questions and you’ll be comparing auto insurance rates in Nevada in no time.

SmartFinancial has access to more than 200 different insurance companies so you are bound to find the coverage and price that you want. So shop smart for car insurance and drive safely on the roadways of Nevada.

Get a Free Auto Insurance Quote Online Now.

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