For drivers in Las Vegas, one of the big factors that are looked at to help calculate the price you pay for insurance is where you call home. Areas with more people or higher crime rates tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper auto insurance prices.
The next table lists the most expensive cities in Nevada to purchase auto insurance in. Las Vegas ranks #5 with an annual cost of $1,892 on average, which is approximately $158 monthly.
|7||North Las Vegas||$1,844|
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Price information shown is approximated as vehicle location can decrease or increase insurance rates significantly.
Having seen where Las Vegas ranks based on price, figuring out which company quotes the lowest-priced insurance rates in Las Vegas will require a little more work than just quoting one company’s rates.
Each company has their own guidelines to determine premium rates, so let’s rank the lowest cost insurance companies in Las Vegas. It’s important to understand that Las Vegas, NV insurance rates are influenced by many factors that may substantially change the cost of a policy. Getting older, having a claim, or getting caught speeding may cause policy rate changes that can make some companies much cheaper than others.
Best Car Insurance Prices in Las Vegas
Travelers may have some of the best car insurance rates in Las Vegas at around $930 per year. Allied, Capital, American Family, and Oregon Mutual would also be considered some of the cheapest Las Vegas, NV insurance companies.
In the above rates, if you are a policyholder with Capital and switched to Travelers, you might realize a yearly price reduction of around $58. Policyholders with American Family could save as much as $252 a year, and Oregon Mutual policyholders might reduce prices by as much as $252 a year.
Understand that those estimates are averaged across all drivers and vehicles and and are not calculated with an exact zip code location in Las Vegas. So the car insurance company that is best for you may not even be in the top 20 companies in the list above. That illustrates why you need to quote rates from many companies using your own driver data and vehicle information.
The car, truck, or SUV you are buying coverage for is probably the most important factor when quoting economical coverage in Las Vegas. Vehicles with economical engines, modern passenger safety features, or a track record of few liability claims will cost significantly less to insure than fast, unsafe models.
The list below illustrates insurance premiums for the cheaper vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$2,452|
|Honda CR-V LX 2WD||$2,773|
|Chevrolet Impala LTZ||$2,817|
|Toyota Tacoma X-Runner 2WD||$2,824|
|Ford Fusion SEL 4-Dr Sedan||$2,868|
|Chevrolet Equinox LTZ 2WD||$2,877|
|Hyundai Sonata GLS 4-Dr Sedan||$2,872|
|Jeep Wrangler Rubicon 4WD 2-Dr||$2,909|
|Dodge Grand Caravan SE||$2,917|
|Ford Focus S 4-Dr Sedan||$3,012|
|GMC Sierra Denali Crew Cab 2WD||$3,060|
|Toyota Camry Hybrid||$3,063|
|Jeep Grand Cherokee Laredo 4WD||$3,070|
|Toyota Camry LE||$3,078|
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Above prices assume 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, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in specific location which can impact auto insurance rates substantially.
Looking at the numbers, you can presume that cars like the Ford Escape, Toyota Prius, and Honda CR-V will definitely be some of the most budget-friendly vehicles to insure for drivers in Las Vegas.
How much more does full coverage cost in Las Vegas?
Finding cheaper auto insurance is the goal of the majority of vehicle owners, and one good way to find cheap insurance in Las Vegas is to only buy liability coverage. The diagram below compares auto insurance rates with full coverage and liability only. The premium estimates are based on no accidents or driving violations, $100 deductibles, drivers are single, and no other discounts are factored in.
As an average, physical damage coverage costs $1,768 per year more than buying just liability insurance. At some point, every insured wonders if buying full coverage is worth the money. There isn’t a steadfast formula to drop physical damage insurance, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your vehicle’s replacement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $4,000 after the deductible is paid. If you are paying in excess of $400 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
The illustration below shows how choosing a deductible can change insurance rates when trying to find cheap insurance in Las Vegas. The rates are based on a married male driver, full physical damage coverage, and no discounts are taken into consideration.
A 30-year-old driver could lower rates by $320 a year by changing from a $100 deductible up to a $500 deductible, or save $482 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could potentially save as much as $978 every year by choosing a larger deductible amount.
When insureds make the decision to increase the deductibles on their policy, it will be required to have enough savings set aside to enable you to pay the extra out-of-pocket expense that is associated with using high deductibles.
How to find budget-friendly car insurance in Las Vegas
It is possible to find better rates, and here are some of the recommended thrifty solutions that can help Las Vegas drivers quote low-cost car insurance.
- Save money by insuring your home and auto with the same company
- Save money by only buying liability coverage for older vehicles
- Avoid accidents and claims
- Vehicles with safetly features generally cost less to insure
- Try paying for small claims out-of-pocket
- Avoid getting citations and tickets
- Compare rate quotes often
That last idea is especially vital, as was affirmed in the prior information. Auto insurance rates in Las Vegas can be modified anytime, so don’t be tentative to switch companies if a better rate can be found. Many drivers have brand loyalty and that’s fine, but we do not recommend it if that devotion results in you overpaying lots of money. Spend a few minutes and compare rates to find cheaper auto insurance in Las Vegas.
The professional agents shown below can most likely help you make a decision which coverages are best, as some drivers have questions and prefer to get some help when trying to find lower insurance rates in Las Vegas. It can be hard to do it yourself, so insurance agents licensed in the state of Nevada can give comfort knowing your policy gives you enough protection. To find a Las Vegas insurance agency nearest to you, click the button link following the list.
- Stevens Insurance
7785 N Durango Dr – Las Vegas, NV 89131 – (702) 648-9689
- Superior Insurance
2511 Stewart Ave – Las Vegas, NV 89101 – (702) 721-7575
- Jody Evans – State Farm Insurance Agent
8450 W Sahara Ave #111 – Las Vegas, NV 89117 – (702) 251-9760