The words “low-cost” and “insurance” really shouldn’t be used together, in particular when you are looking for the best coverage prices for first-time drivers. To help control this cost, let’s get started by showing you some of the things that significantly impact car insurance premiums, and see how we can help you take the sting out of the next policy you buy.
The vehicle that is being insured is one of the largest factors when consumers are trying to find the best cheap coverage for first-time drivers. Vehicles with economical engines, a great safety record, or low incidents of liability claims will cost quite a bit less to insure than fast, unsafe models.
The next list shows insurance rates for some of the most budget-friendly automobiles to insure in Nevada.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$9,451|
|Honda Accord LX 4-Dr Sedan||$9,458|
|Honda CR-V EX 4WD||$9,551|
|Dodge Grand Caravan SE||$10,593|
|Toyota Camry LE||$11,211|
|Chevrolet Impala LT||$11,219|
|Chevrolet Silverado LS Extended Cab 4WD||$11,211|
|Toyota RAV4 2WD||$11,216|
|Chevrolet Equinox LS 2WD||$11,211|
|Ford Explorer Limited 4WD||$11,311|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$11,321|
|Chevrolet Malibu LT||$11,311|
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Table data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in your specific Las Vegas, NV location which can revise rates significantly.
Based upon the rates shown, we can infer that cars like the Ford Escape, Honda Accord, Honda CR-V, Toyota Prius, and Dodge Grand Caravan will definitely be some of the most economical vehicles to insure for new drivers. Rates will be higher anyway because of the fact that there is more claim risk for first-time drivers, but overall those particular vehicles will probably have the lowest insurance rates compared to all other vehicles.
For new drivers, one of the more important considerations that aid in calculating the amount you pay for auto insurance is where you call home. Areas with a lot of weather claims or more people are more likely to have higher rates, whereas areas with less crime or weather claims can boast about having cheaper rates.
The next table rates the highest-priced areas in Nevada for first-time drivers to purchase a policy in. Las Vegas shows up at #5 with a yearly cost of $1,873 for coverage, which is about $156 each month.
|Rank||City||Average Per Year|
|7||North Las Vegas||$1,844|
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Prices are estimated as the specific garaging location can alter premiums substantially.
Get discounts on Las Vegas auto insurance rates
Insurance providers that provide policies for first-time drivers may have rate discounts that may potentially lower prices by 35% or more if you meet certain criteria. A list of auto insurance companies and some of the discounts are:
- GEICO may have discounts that include multi-vehicle, defensive driver, five-year accident-free, good student, military active duty, multi-policy, and anti-theft.
- MetLife discounts include good student, good driver, defensive driver, multi-policy, accident-free, and claim-free.
- Progressive offers premium reductions for multi-vehicle, continuous coverage, online quote discount, good student, multi-policy, online signing, and homeowner.
- Travelers may offer discounts for multi-policy, continuous insurance, home ownership, student away at school, save driver, good student, and hybrid/electric vehicle.
- SAFECO offers discounts for safe driver, multi-car, drive less, homeowner, and teen safety rewards.
- AAA has savings for good driver, anti-theft, good student, education and occupation, multi-car, and multi-policy.
The chart below illustrates the difference between annual premium costs with and without discounts. The rates are based on a male driver, no claims, a clean driving record, Nevada state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with continuous coverage, good student, paid-in-full, vehicle safety, anti-theft, and paperless filing discounts applied. In this example, theamount saved on auto insurance for first-time drivers is 28% or $844.
Rate increases following a ticket or accident
The best way to receive the best auto insurance premiums in Nevada for new drivers is to be a cautious driver and avoid accidents and traffic citations. The information below shows how violations and at-fault accidents increase insurance rates for different ages of insureds. The premiums are based on a single female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are taken into consideration.
The chart shows that the average cost of car insurance per year with no accidents or violations is $2,243. Factor in one speeding ticket and the average cost swells to $2,541, an increase of $298 each year. Then include two accidents along with the one speeding ticket and the 12-month cost of auto insurance for first-time drivers increases to an average of $5,073. That’s an increase of $2,831, or $236 per month, just for being a less-than-perfect driver!
Are you paying too much for car insurance in Las Vegas?
Las Vegas, NV auto insurance rates are influenced by many factors which can substantially decrease or increase the price you pay. Improving your credit rating, moving to a different location, or having an accident can cause premium changes that can cause some rates to be much cheaper than others.
Also, companies change rates multiple times each year as an adjustment for underwriting gains or losses. Higher than usual claims may cause rate hikes, while a profitable period may produce more affordable Las Vegas car insurance rates.
To help illustrate this point, the bar chart below shows rates for the cheapest car insurance in Las Vegas, NV for a 40-year-old female driver with a clean driving record, no accidents, and a decent credit rating. If we look at prices based on her current rating profile, Travelers might offer the most affordable car insurance rates in Las Vegas at $1,604 annually. This is $30 more than the average premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family round out the rest of the cheapest Las Vegas, NV auto insurance companies.
Now we will give the driver from the first rate comparison a claim surcharge, bad credit, and a speeding citation. Because each insurer has a different formula for determining prices, comparing quotes will most likely result in a new list of the cheapest Las Vegas car insurance companies as shown below.
GEICO now has the cheapest rate in Las Vegas, NV with Nationwide, Safeco, USAA, and Capital also being competitive. This shows why consumers need to take the time to perform a complete rate comparison to get affordable auto insurance quotes for first-time drivers. Auto insurance prices are calculated by many different factors and change dramatically, so the most economical option the last time you compared rates may now be quite expensive.