The words “bargain” and “insurance” really don’t belong together, in particular when comparison shopping for the cheapest auto insurance after a speeding ticket. To save some money, let’s teach you a few of the factors that significantly impact car insurance prices, and come up with some ways to lower the price of your next policy.
The car, truck, or SUV on the policy is one of the biggest factors that determines if you can find economical auto insurance after a speeding ticket. Vehicles with higher performance characteristics, poor passenger safety features, or a high likelihood of having liability claims will cost more to insure than safer, lower-performance models.
The information below showcases auto insurance premiums for a selection of the cheapest vehicles to insure.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,507|
|Ford Escape XLS 2WD||$3,869|
|Hyundai Elantra GLS Touring Station Wagon||$4,069|
|Ford Edge SE AWD||$4,076|
|Toyota RAV4 Limited 2WD||$4,154|
|Jeep Grand Cherokee Laredo 4WD||$4,162|
|Chevrolet Malibu LT||$4,236|
|Honda Odyssey LX||$4,250|
|Ford Explorer XLT AWD||$4,335|
|Dodge Grand Caravan CV||$4,345|
|Toyota Camry XLE||$4,378|
|Toyota Corolla S||$4,383|
|Ford Fusion SEL 4-Dr Sedan||$4,460|
|Toyota Tacoma 2WD||$4,502|
|Compare Rates Now Go|
Above prices assume single female driver age 50, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, and multi-policy. Estimates do not factor in your specific Las Vegas, NV location which can change premium rates significantly.
Based upon the table data, you can see that models like the Honda CR-V, Ford Escape, and Hyundai Elantra will definitely be the cheaper vehicles to insure after a few driving violations.
Shopping around for cost effective insurance is hard enough, and finding out which company has the cheapest car insurance rates after a speeding ticket requires more quotes for comparison.
Each company uses their own calculation for establishing rates, so let’s begin by examining the lowest cost car insurance companies in Nevada. Keep in mind that Las Vegas, NV car insurance rates are influenced by many factors which can significantly increase or decrease the cost of coverage. Getting older, buying a different home, or getting a ticket for careless driving can produce rate changes that can now make some companies higher-priced than before.
Best Cheap Insurance Rates with Licence Points
|Rank||Company||Cost Per Year|
|Compare Rates Now Go|
Travelers quotes some of the lowest car insurance rates in Las Vegas at around $903 per year. This is $671 less than the average premium paid by Nevada drivers of $1,574. Allied, Capital, American Family, and Oregon Mutual also make the cut as some of the most economical Las Vegas, NV insurance companies.
As the rates illustrate above, if you currently buy coverage from Capital and switched to Travelers, you might realize a yearly savings of upwards of $85. Policyholders with American Family might save as much as $279 a year, and Oregon Mutual policyholders might cut rates by $279 a year.
To get a quick, customized rate comparison, click here to get quotes or feel free to get quotes from the companies below.
Remember that these estimates are averaged across all ages of drivers and types of vehicles and and are not calculated with an exact zip code location after a speeding ticket. So the insurer that can offer the best rates for your situation may not even be in the top 20 companies shown above. That point stresses why you need to compare as many prices as possible using your own driver data and vehicle information.
Does full coverage make sense?
Finding the cheapest car insurance is the goal of most people, and one of the easiest ways to lower the cost of insurance after a speeding ticket is to not insure for full coverage. The illustration below visualizes the comparison of premium costs with full coverage and liability only. The premium estimates are based on no claims, a clean driving record, $100 deductibles, single marital status, and no discounts are applied to the premium.
If averaged for all ages, comprehensive and collision coverage on your policy costs an extra $2,410 per year more than just insuring for liability. That may make you wonder when is the right time to remove full coverage. There is no definitive rule to exclude full coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than about 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your vehicle’s settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $7,000 after you pay the deductible. If you are paying more than $700 a year to have full coverage, the it may be a good time to stop paying for full coverage.
The example below illustrates how your choice of deductibles can impact insurance costs when researching cheap insurance after a speeding ticket. Data assumes a married female driver, full coverage, and no policy discounts are applied.
The chart above illustrates that a 30-year-old driver could lower their policy premium by $244 a year by switching from a $100 deductible up to a $500 deductible, or save $370 by changing to a $1,000 deductible. Young drivers, like the Age 20 chart data, could shave $522 every year by selecting a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it is necessary to have emergency funds available to be able to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Picking the right auto insurance provider can be rather challenging considering how many companies there are to choose from in Las Vegas. The company rank data below could help you decide which insurers to look at comparing rates from. The rankings below are for companies who write in the majority of U.S. states, so companies that focus mainly on Nevada business are not taken into consideration for this list.
Top 10 Large Auto Insurance Providers in Las Vegas Ranked by Value
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
Top 10 Large Auto Insurance Providers in Las Vegas Ranked by A.M. Best Rating
- USAA – A++
- Travelers – A++
- GEICO – A++
- State Farm – A++
- The Hartford – A+
- Esurance – A+
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- Titan Insurance – A+
Las Vegas car insurance rates
Las Vegas car insurance rates are calculated based on many things which can significantly increase or decrease the cost of a policy. Simply getting older, buying a new vehicle, or getting a reckless driving citation can trigger price changes resulting in some rates now being more affordable than competitors.
And not only may your rating factors change, but insurance companies file new Nevada auto insurance rates as often as every quarter to ensure their profitability. Significantly higher losses can result in increased rates, while profitable underwriting may produce more affordable Las Vegas car insurance rates.
To illustrate this example, the data below analyzes the cheapest car insurance in Las Vegas, NV for a 35-year-old female driver with no accidents or violations, and a decent credit rating. If we estimate rates based on her current risk profile, Travelers might quote the cheapest car insurance rates in Las Vegas at $1,605 a year. This is $31 more than the average policy premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family are also included in the most affordable Las Vegas, NV auto insurance companies.
The example below compares rates after we give the driver from the first example a chargeable accident, less-than-perfect credit, and a few traffic violations. Since each auto insurer uses their own formula to set premium rates, getting updated rate quotes could now result in a completely different list of cheap Las Vegas auto insurance companies as shown below.
Progressive now has the lowest price on auto insurance in Las Vegas, NV with USAA, Safeco, Nationwide, and Allied also having competitive pricing. This demonstrates why it is so important to spend some time comparing rates when trying to get affordable car insurance quotes after a speeding ticket.
Insurance rates can be determined by many risk factors and can decrease or increase without notice, so the best option the last time you compared rates may now be quite expensive.
The insurance agencies below are a good start to help you make a decision which coverages and limits you need, as some people have coverage questions and would like to get some professional advice when comparing insurance rates after a speeding ticket. It can be time-consuming to find the best coverage on your own, and getting advice from a licensed Nevada insurance agent can give peace of mind knowing you have adequate coverage if you have an accident or claim.
To find a Las Vegas insurance agent nearest to you, click the button below the list.
State Farm: Eric James
1350 E Flamingo Rd #14 – Las Vegas, NV 89119 – (702) 836-0953
Gary Gibson – State Farm Insurance Agent
Ste B3, 3220 S Durango Dr – Las Vegas, NV 89117 – (702) 901-8787
Estrella Insurance Services
3700 E Charleston Blvd #130 – Las Vegas, NV 89104 – (702) 382-1177
2511 Stewart Ave – Las Vegas, NV 89101 – (702) 721-7575