What Insurance is Cheapest for Good Students in Las Vegas?

The words “economical” and “insurance” really should not be used together, in particular when shopping around for the cheapest coverage for good students. Because of the high cost, let’s learn about a few of the things that help determine car insurance premiums, and find out if we can help you lower the cost of the next policy you buy.

The make and model of vehicle you are seeking coverage for is one of the biggest factors when looking for economical car insurance for good students. Vehicles with more horsepower, a lack of safety features, or an increased likelihood of liability claims will cost substantially more to insure than safer, lower-performance models. The information below shows coverage premiums for the most cost-effective vehicles to buy insurance for.

Cheapest Vehicles to Insure in Las Vegas, NV
Make and Model Estimated Cost for Full Coverage
Ford Escape XLT 2WD $9,560
Honda Accord LX-P 4-Dr Sedan $9,567
Honda CR-V EX-L 4WD $9,648
Hyundai Elantra SE Touring Station Wagon $10,229
Toyota Prius $10,317
Jeep Wrangler Sport Islander Package 4WD 2-Dr $10,673
Ford Explorer Eddie Bauer 2WD $10,761
Ford Edge SE AWD $11,253
Jeep Grand Cherokee Laredo 2WD $11,341
Toyota Tacoma Double Cab 4WD $11,349
Toyota RAV4 Limited 4WD $11,341
Volkswagen Jetta LE 4-Dr Sedan $11,350
Chevrolet Equinox LT 2WD $11,341
Dodge Grand Caravan Crew $11,429
Chevrolet Malibu LT $11,437
Chevrolet Impala LTZ $11,922
Toyota Corolla XLE $11,928
Honda Odyssey EX-L W/Navigation $11,922
Toyota Camry XLE $11,932
Chevrolet Silverado 2500HD LT Crew Cab 4WD $12,010
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Data based on single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in the specific area where the vehicle is garaged which can modify prices substantially.

Based on these rates, you can presume that vehicles like the Ford Escape, Honda Accord, Honda CR-V, Hyundai Elantra, and Toyota Prius will be some of the cheaper vehicles to insure for student drivers.

One of the more important components that help determine the amount you pay for auto insurance is your address in Las Vegas. Regions with more people or even just more weather-related claims tend to pay more, whereas areas with less crime or weather claims can boast about having cheaper rates.

The illustration below ranks the most expensive places in Nevada for good students in which to purchase auto insurance. Las Vegas shows up at #5 with the annual price of $1,949 for the average policy, which is approximately $162 per month.

How much is car insurance in Las Vegas?
Rank City Annual Premium
1 Winchester $2,116
2 Sunrise Manor $2,069
3 Spring Valley $2,040
4 Paradise $2,001
5 Las Vegas $1,949
6 North Las Vegas $1,900
7 Enterprise $1,870
8 Henderson $1,749
9 Boulder City $1,495
10 Pahrump $1,364
11 Mesquite $1,325
12 Sparks $1,278
13 Reno $1,256
14 Spanish Springs $1,253
15 Sun Valley $1,253
16 Fernley $1,137
17 Elko $1,125
18 Carson City $1,124
19 Gardnerville Ranchos $1,116
20 Fallon $1,108
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Rate information is comparative as specific location information can revise premiums considerably.

Figuring out which companies quote the lowest-priced insurance rates for good students will require a bit more effort than just getting one or two price quotes. Each auto insurance company has a different process for setting rates, so let’s take a look at the most affordable insurance companies in Nevada.

Find Cheaper Car Insurance for Students

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Nevada car insurance ranked by cost per year
Rank Company Cost Per Year
1 Travelers $903
2 Allied $911
3 Capital $1,018
4 Oregon Mutual $1,182
5 Progressive $1,190
6 American Family $1,218
7 GEICO $1,256
8 Nationwide $1,295
9 Safeco $1,306
10 USAA $1,336
11 Farmers $1,452
12 MetLife $1,631
13 Country $1,651
14 State Farm $1,698
15 Mercury $1,825
16 Victoria $2,011
17 Liberty Mutual $2,227
18 Bristol West $2,336
19 Allstate $2,385
20 Encompass $2,710
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Travelers generally has some of the cheapest car insurance rates in Las Vegas at around $903 annually. This is $671 less than the average premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive would also be considered some of the lowest-priced Las Vegas, NV auto insurance companies.

As shown above, if you currently buy coverage from Oregon Mutual and switched to Allied, you could realize an annual savings of in the neighborhood of $271. Nevada drivers with Progressive may save as much as $279 a year, and American Family insureds might cut rates by $307 a year.

To discover how much you can save, click here to start a quote or quote prices from the following companies.

Remember that these prices are averaged for all types of insureds and vehicles and and are not figured with a specific zip code for good students. So the company that can offer you the best rate may not even be in the top 20 companies shown above. That emphasizes why you need to compare prices as often as possible using your own individual information.

The information below illustrates how your choice of deductibles can influence insurance premiums when quoting cheap insurance for good students. The information is based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.

A 50-year-old driver could cut expenses by $294 a year by switching from a $100 deductible to a $500 deductible, or save $444 by switching to a $1,000 deductible. Young drivers, like the 20-year-old example, can cut $744 or more by using a higher deductible. When using a larger deductible, it will be important to have emergency funds available to enable you to pay the extra out-of-pocket expense that is associated with using high deductibles.

Illustration showing the impact of accidents and violations

The common sense way to obtain the cheapest insurance prices in Las Vegas for student drivers is to be an attentive driver and avoid at-fault accidents and violations. The chart below shows how violations and at-fault collisions can raise insurance prices for each different age group. The premium estimates are based on a married male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.

The chart shows that the average cost of car insurance per year with no accidents or violations is $1,880. Get written up for two speeding tickets and the average cost surges to $2,598, an increase of $718 each year. Now throw in one accident along with the two speeding tickets and the annual cost of insurance for good students jumps again to an average of $3,321. That’s an increase of $1,441, or $120 per month, just for not driving safely!

How much more does full coverage cost in Las Vegas?

Saving money on insurance is probably important to the majority of vehicle owners, and one of the fastest ways to buy cheaper insurance for good students is to not buy comprehensive and collision coverage. The information below shows the comparison of insurance costs with and without physical damage coverage. The information is based on no claims, a clean driving record, $250 deductibles, marital status is single, and no discounts are applied to the premium.

If we average the cost for ages 20 through 70, physical damage insurance costs an additional $2,165 per year over and above liability only. Lot’s of drivers question if it’s a good idea to buy full coverage. There is no definitive rule to delete comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you might want to consider buying only liability coverage.

For example, let’s say your vehicle’s replacement cost is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $10,500 after paying your policy deductible. If it’s costing in excess of $1,050 a year to have full coverage, then it may be the right time to buy liability only.

There are a few situations where buying only liability insurance is not in your best interest. If you still have a loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.

You are probably paying too much for car insurance

Nevada insurance rates are based on many factors which can substantially change the price of your policy. Improving your credit score, moving across town, or getting into an accident can trigger rate changes that may make certain companies cheaper than before.

In addition to those changes, insurance companies change the rates they charge in Nevada as often as every quarter to help ensure profitability. Higher than normal claim frequency or severity may result in more expensive premiums, while less frequent claims can cause lower-priced Las Vegas car insurance rates.

To illustrate this example, the chart below shows the cheapest car insurance in Las Vegas, NV for a 45-year-old female driver with no accidents or violations, and good credit. If we estimate prices based on her current situation, Allied may have the cheapest car insurance rates in Las Vegas at $1,604 per year. This is $30 more than the average policy premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family are the rest of the best Las Vegas, NV auto insurance companies.

The next chart shows rates after we give the driver in the first chart an at-fault accident, bad credit, and an imperfect driving record. Because each insurer uses their own calculation for determining prices, getting updated rate quotes could now result in a slightly different list of cheap Las Vegas auto insurance companies as shown below.

Progressive now has the cheapest car insurance in Las Vegas with Travelers, Nationwide, Safeco, and USAA also being competitive. This illustrates why it is so important to perform an extensive rate comparison when trying to find the most economical car insurance rates for good students.

Car insurance prices are impacted by many different factors and can change without notice, so the best price the last time you checked may now cost much more than other companies.

If you aren’t sure which coverage to buy and prefer to get some professional advice when trying to find lower insurance rates for student drivers, the professional agents shown below can probably answer your questions and help you decide which coverages you need. To locate a Las Vegas car insurance agency close to where you live, click the button below the list or click here to compare rates now.

Lanny Maren CIG Insurance Las Vegas
4175 S Riley St #200Las Vegas, NV 89147(702) 597-5998

All Around Insurance Agency, Inc.
3970 N Tenaya Way #110Las Vegas, NV 89129(725) 696-7707

Juan Diaz – State Farm Insurance Agent
1718 S Eastern AveLas Vegas, NV 89104(702) 489-4242

AmeriSent Insurance
6070 S Eastern Ave #400Las Vegas, NV 89119(702) 456-1400

Jody Evans – State Farm Insurance Agent
8450 W Sahara Ave #111Las Vegas, NV 89117(702) 251-9760

View map of Las Vegas, NV insurance agents