You have most likely seen the captivating ads from insurers like Farmers, State Farm, and Liberty Mutual that make claims of huge savings. So you just need to pick one at random, right?
Regrettably, it’s not quite that easy, as there are a whole bunch of unknowns like whether you just need liability insurance, your financial stability, and the level of liability coverage you want, that all impact the price you pay. We are going to cover the best ways to maintain low rates and should give you a good beginning to your quest for cheaper car insurance.
Deciding which company offers the cheapest insurance rates for seniors may require a bit more work than just comparing a company or two. Every auto insurer has their own unique process for determining rates in each state, so to begin we’ll rank the insurance companies with the overall best prices in Nevada.
Lowest Insurance Price Quotes for Mature Drivers
|Rank||Company||Cost Per Year|
|View More Rates Go|
Travelers may have some of the lowest car insurance rates in Las Vegas at around $912 annually. Allied, Capital, Oregon Mutual, and American Family also rank well as some of the cheaper Las Vegas, NV insurance companies.
In the above rates, if you are insured with Allied and switched to Travelers, you could realize a yearly savings of upwards of $27. Insureds with Capital could save as much as $66 a year, and Oregon Mutual customers might reduce prices by as much as $281 a year.
To compare your rates to other Nevada insurance companies, click here to start your custom quote or click through to the companies below.
Understand that those estimates are averaged across all types of drivers and the different vehicles they drive and and are not figured with a specific location for seniors. So the insurer that has the cheapest price for you may not even be in the list above. That is why you need to compare rates from multiple companies using your own individual information.
For senior citizens, one of the largest things that are looked at to help calculate the annual cost of car insurance is where you choose to live. Areas with more people or more claims will most likely pay more, whereas more rural areas get the luxury of paying less.
The table below ranks the priciest cities in Nevada for seniors to purchase auto insurance in. Las Vegas ranks #5 with a yearly premium of $1,873 for the average policyholder, which is about $156 monthly.
|Rank||City||Premium Per Year|
|7||North Las Vegas||$1,826|
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Rates are comparative as the garaging address in Las Vegas can increase or decrease premium rates noticeably.
The vehicle that needs insurance is one of the primary factors in finding affordable insurance for seniors. Vehicles with high performance, poor safety ratings, or a high likelihood of having liability claims will cost quite a bit more to insure than more modest models. The information below ranks auto insurance costs for the cheaper automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$2,096|
|Hyundai Elantra GLS Touring Station Wagon||$2,105|
|Ford Escape XLS 2WD||$2,096|
|Volkswagen Jetta S 2.5 Station Wagon||$2,275|
|Honda Accord EX-L 4-Dr Sedan||$2,281|
|Ford F-150 XLT Regular Cab 2WD||$2,293|
|Dodge Grand Caravan CV||$2,345|
|Ford Edge SEL 2WD||$2,422|
|Honda Odyssey EX W/Rear Entertainment||$2,432|
|Toyota RAV4 Sport 2WD||$2,473|
|Chevrolet Impala LT||$2,478|
|Toyota Camry LE||$2,473|
|Toyota Tacoma Double Cab 4WD||$2,478|
|Ford Explorer Eddie Bauer 4WD||$2,524|
|Chevrolet Malibu LT||$2,531|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$2,550|
|Ford Focus SEL 4-Dr Sedan||$2,558|
|Toyota Corolla S||$2,601|
|Nissan Rogue S 2WD||$2,645|
|Nissan Altima Hybrid 4-Dr Sedan||$2,652|
|Chevrolet Equinox LTZ AWD||$2,662|
|Jeep Grand Cherokee SRT-8 4WD||$2,652|
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Cost estimates assume married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Prices do not factor in vehicle garaging location which can alter insurance rates noticeably.
Based upon these rates, you can infer that makes and models like the Honda CR-V, Hyundai Elantra, and Ford Escape are most likely going to be a few of the cheapest vehicles to insure for senior citizens.
Discount Las Vegas insurance rates
Insurers that sell policies for seniors may also offer discounts that could potentially reduce rates by 25% or more if you meet eligibility requirements. The best insurance companies and their offered discounts are:
- American Family offers discounts including multi-vehicle, good student, early bird, good driver, accident-free, and mySafetyValet.
- Nationwide may have discounts that include Farm Bureau membership, accident-free, easy pay, business or organization, defensive driving, good student, and family plan.
- MetLife has discounts for multi-policy, good driver, defensive driver, claim-free, and accident-free.
- 21st Century has savings for automatic seat belts, driver training, homeowners, good student, air bags, and student driver.
- Farmers Insurance includes discounts for multi-car, pay in full, switch companies, youthful driver, distant student, and teen driver.
- Allstate policyholders can earn discounts including EZ pay plan discount, premier plus, passive restraint, good payer, and FullPay discount.
The example below shows the difference between auto insurance rates with and without policy discounts. The prices are based on a male driver, no claims or driving citations, Nevada state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with multiple vehicle, anti-theft, defensive driving course, marriage, safe-driver, and claim-free discounts applied. When these discounts are applied, the average amount saved each year on insurance for seniors is 30% or $419.
Rate difference between full and liability-only coverage
Finding cheaper insurance is important to most people, and a great way to reduce the cost of insurance for seniors is to buy liability only. The illustration below illustrates the difference between insurance costs with full coverage and liability only. The premiums assume no claims or violations, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
Averaged for all age groups, physical damage coverage on your policy costs $1,403 per year more than carrying just liability coverage. At some point, almost every driver questions if you should buy full coverage at all. There is no clear-cut formula for excluding comp and collision coverage, but there is a general convention. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let’s assume your vehicle’s replacement cost is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $8,000 after paying your deductible. If you are paying over $800 annually to have full coverage, the it may be a good time to stop paying for full coverage.
How violations and accidents impact rates
The best way to enjoy cheap insurance premiums in Las Vegas for senior citizens is to drive safe and avoid at-fault accidents and violations. The chart below shows how speeding tickets and at-fault collisions can affect premium costs for different categories of driver ages. The price estimates are based on a single female driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.
In the prior example, the average cost of car insurance in Nevada per year with no violations or accidents is $2,055. Factor in one speeding ticket and the average cost hikes up to $2,329, an increase of $274 each year. Next add one accident along with the one speeding ticket and the 12-month cost of insurance for seniors jumps again to an average of $3,108. That’s an increase of $1,053, or $88 per month, just for not keeping your driving record clean!
The agents shown below can most likely answer your questions and help you decide which coverage meets your needs best, since some drivers aren’t sure which coverage they need and prefer to get some professional input when shopping around for cheaper insurance for seniors. It’s not always easy to find the cheapest auto insurance company, and a professional agent can give peace of mind knowing your policy gives you sufficient coverage at claim time. To find an agent using an interactive map, click the button following the list.
Juan Diaz State Farm®
352 S Jones Blvd – Las Vegas, NV 89107 – (702) 870-0444
Nationwide Insurance: Sage Insurance Services Inc Agency
1081 S Cimarron Rd, Ste B56 – Las Vegas, NV 89145 – (702) 613-0000
State Farm: Gregory A Moore
4312 W Charleston Blvd – Las Vegas, NV 89102 – (702) 870-9298
Tod Young – State Farm Insurance Agent
7450 W Cheyenne Ave #105 – Las Vegas, NV 89129 – (702) 367-4900
Tips for buying low-cost car insurance for seniors
The list below details some of the better penny-pinching suggestions that can help you locate more affordable coverage.
- Insure your home and auto with the same company
- Claim-free drivers earn discounts
- Maintain a safe distance and avoid accidents
- Buy a vehicle with excellent safety ratings
- Do not pay for full coverage if not needed
- Be a safe driver
- Ensure you have the best deal by shopping around regularly
That last piece of advice is incredibly valuable, as we pointed out in the article above. Prices charged by auto insurers can be adjusted at any time, so don’t be tentative to buy a policy from a new company if a better rate can be found. Having a favorite company is great, but it isn’t a good idea if that devotion results in you overpaying money that could be spent on other things. Take a few minutes and compare prices and find cheaper auto insurance for seniors in Las Vegas.