The type of vehicle needing coverage is a significant factor when comparing low-priced car insurance for used cars. Vehicles with lower performance, good crash test ratings, or a positive history of liability claims will cost much less to insure than fast, unsafe models.
The next table presents insurance prices for the most budget-friendly vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Volkswagen Jetta S 2.5 Station Wagon||$2,711|
|Ford F-150 XL Crew Cab 2WD||$2,804|
|Dodge Grand Caravan SE||$2,809|
|Honda CR-V LX 2WD||$2,869|
|Ford Escape XLT 4WD||$2,930|
|Toyota RAV4 Sport 2WD||$2,959|
|Chevrolet Equinox LT 2WD||$2,967|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$3,009|
|Ford Focus SEL 4-Dr Sedan||$3,056|
|Honda Accord LX-P 4-Dr Sedan||$3,066|
|Ford Edge Sport AWD||$3,113|
|GMC Sierra SLE Regular Cab 4WD||$3,171|
|Toyota Camry Hybrid||$3,390|
|Jeep Grand Cherokee Laredo 2WD||$3,393|
|Ford F-350 Super Cab XLT Turbo Diesel 2WD||$3,440|
|Chevrolet Malibu LT||$3,458|
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Price estimates do not factor in your specific Las Vegas, NV location which can revise premiums noticeably.
Looking at the numbers, makes and models like the Volkswagen Jetta, Ford F-150, and Dodge Grand Caravan will be the most budget-friendly vehicles to insure for pre-owned vehicles.
For pre-owned vehicles, one of the largest considerations that are looked at to help calculate the price you pay for insurance is where you keep your vehicle in Las Vegas. Areas with more people or more claims tend to have higher rates, whereas areas with lower crime rates and fewer weather claims profit from lower rates.
The following table rates the highest-priced places in Nevada for used cars to buy car insurance in. Las Vegas is ranked at #5 costing $1,892 for the average policy, which is approximately $158 each month.
|Rank||City||Premium Per Year|
|6||North Las Vegas||$1,882|
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Rate information is approximated as zip code location can alter premium rates considerably.
How accidents and tickets impact rates
The best way to score affordable auto insurance premiums in Las Vegas for pre-owned vehicles is to drive safely and not have accidents or get tickets. The information below shows how speeding tickets and at-fault accidents can drive up insurance prices for each age group. The rate quotes are based on a married female driver, full physical damage coverage, $1,000 deductibles, and no other discounts are factored in.
The data in the chart shows the average cost of an auto insurance policy in Nevada per year with no accidents or violations is $1,321. Get written up for one speeding ticket and the average cost jumps to $1,543, an increase of $222 each year. Now add in two accidents along with the one speeding ticket and the yearly cost of auto insurance for used cars jumps again to an average of $3,646. That’s an increase of $2,325, or $194 per month, just for being a little careless behind the wheel!
Comparison of full coverage and liability-only policies
Lowering the price of auto insurance is probably important to the majority of people, and one way to buy cheap insurance for used cars is to buy only liability coverage. The illustration below shows the difference between premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Nevada. The data assumes no accidents, no driving violations, $100 deductibles, single marital status, and no discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage costs an additional $2,368 per year more than just buying liability insurance. That raises the question if full coverage is worth the money. There is no specific rule that works best for making the decision to drop physical damage insurance, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s replacement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $10,500 after paying your deductible. If you are paying over $1,050 a year for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
Get discounts on Las Vegas auto insurance rates
Insurers that provide policies for used cars may also give you policy discounts that can reduce rates by 25% or more if you qualify. A few popular companies and their offered discounts are outlined below.
- Progressive offers discounts including good student, online quote discount, multi-policy, online signing, and homeowner.
- AAA policyholders can earn discounts including multi-policy, AAA membership discount, education and occupation, good student, and good driver.
- Farmers Insurance may offer discounts for bundle discounts, youthful driver, homeowner, teen driver, and business and professional.
- GEICO discounts include multi-policy, five-year accident-free, anti-lock brakes, air bags, and defensive driver.
- Esurance offers premium reductions for anti-lock brakes, defensive driver, good student, Switch & Save, and good driver.
- SAFECO may have discounts that include safe driver, multi-car, accident prevention training, drive less, anti-theft, and bundle discounts.
- State Farm offers discounts for defensive driving training, multiple autos, good driver, safe vehicle, and Steer Clear safe driver discount.
The chart below visualizes the comparison of insurance prices with and without discounts applied to the premium. The premiums assume a male driver, no claims, a clean driving record, Nevada state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with defensive driving course, passive restraint, anti-theft, safe-driver, marriage, and vehicle safety discounts applied. When drivers qualify for the discounts, theaverage amount saved on auto insurance for used cars is 28% or $541.