One of the many factors that help determine insurance cost is where your car is garaged in Las Vegas. Areas with more people or higher crime rates tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.
The table below lists the most expensive places in Nevada for good drivers to buy car insurance in. Las Vegas ranks #5 with an annual cost of $1,892 for the average policy, which is approximately $158 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Winchester | $2,116 |
| 2 | Sunrise Manor | $2,008 |
| 3 | Paradise | $1,981 |
| 4 | Spring Valley | $1,980 |
| 5 | Las Vegas | $1,892 |
| 6 | Enterprise | $1,851 |
| 7 | North Las Vegas | $1,844 |
| 8 | Henderson | $1,767 |
| 9 | Boulder City | $1,495 |
| 10 | Mesquite | $1,351 |
| 11 | Pahrump | $1,337 |
| 12 | Sparks | $1,304 |
| 13 | Reno | $1,294 |
| 14 | Sun Valley | $1,253 |
| 15 | Spanish Springs | $1,229 |
| 16 | Carson City | $1,170 |
| 17 | Gardnerville Ranchos | $1,138 |
| 18 | Fernley | $1,115 |
| 19 | Elko | $1,114 |
| 20 | Fallon | $1,097 |
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Table data uses approximated as specific location information can change prices substantially.
Locating low-priced car insurance is not easy, and figuring out which company has the cheapest auto insurance rates for good drivers may require additional perseverance. Each insurance company uses slightly different criteria to set policy rates, so we’ll take a look at the most affordable auto insurance companies in Las Vegas.
We do need to point out that Las Vegas, NV auto insurance rates are impacted by many things that will increase or decrease the policy premium. That is why Nevada drivers need to shop around with many companies to find the best auto insurance quotes for good drivers. Insurance prices consist of many factors and change frequently, so the best company two years ago may now be one of the higher cost companies.
Find the Best Cheap Insurance for Good Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $912 |
| 2 | Allied | $939 |
| 3 | Capital | $978 |
| 4 | Oregon Mutual | $1,147 |
| 5 | American Family | $1,182 |
| 6 | Progressive | $1,202 |
| 7 | GEICO | $1,219 |
| 8 | USAA | $1,284 |
| 9 | Safeco | $1,306 |
| 10 | Nationwide | $1,321 |
| 11 | Farmers | $1,496 |
| 12 | MetLife | $1,567 |
| 13 | Country | $1,602 |
| 14 | State Farm | $1,698 |
| 15 | Mercury | $1,807 |
| 16 | Victoria | $2,073 |
| 17 | Liberty Mutual | $2,183 |
| 18 | Bristol West | $2,313 |
| 19 | Allstate | $2,314 |
| 20 | Encompass | $2,604 |
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Travelers has some of the most affordable car insurance rates in Las Vegas at around $912 each year. This is $662 less than the average price paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family also are some of the lowest-priced Las Vegas, NV car insurance companies.
In the above rates, if you currently buy coverage from Oregon Mutual and switched to Travelers, you might see savings of upwards of $235. Drivers with American Family could save as much as $270 a year, and Progressive policyholders might reduce prices by as much as $290 a year.
To find cheaper insurance rates for your vehicle, click here to get quotes or visit any of the low-priced companies below.
Bear in mind that those rates are averages across all ages of drivers and types of vehicles and do not factor in a specific zip code for good drivers. So the car insurance company that fits you best may not even be in the top 20 companies shown above. That underscores the importance of why you need to quote rates from as many companies as possible using your own driver and vehicle profiles.
Types of discounts on Las Vegas insurance rates
Insurance companies that provide policies for good drivers may provide premium discounts that may potentially lower prices by as much as 30% if you are eligible for them. A few of the larger companies and some of the discounts are shown below.
- State Farm offers discounts for Steer Clear safe driver discount, student away at school, accident-free, good student, passive restraint, Drive Safe & Save, and good driver.
- GEICO has discounts for multi-vehicle, anti-theft, driver training, air bags, and membership and employees.
- SAFECO includes discounts for anti-lock brakes, accident prevention training, bundle discounts, safe driver, multi-car, and teen safe driver.
- Farmers Insurance offers premium reductions for good student, early shopping, business and professional, youthful driver, teen driver, pay in full, and bundle discounts.
- AAA may have discounts that include education and occupation, good student, good driver, pay-in-full, multi-policy, AAA membership discount, and anti-theft.
- USAA may offer discounts for new vehicle, multi-vehicle, family discount, driver training, multi-policy, annual mileage, and military installation.
The example below illustrates the comparison of annual premium costs with and without discounts. The rate quotes are based on a male driver, no accidents or driving violations, Nevada state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with multiple policy, accident-free, homeowner, vehicle safety, multiple vehicle, and anti-theft discounts applied. When discounts are factored in, theaverage yearly reduction on auto insurance for good drivers is 28% or $603.
The example below demonstrates how deductibles can influence premium costs when researching cheap insurance for good drivers. The data is based on a married male driver, full physical damage coverage, and no other discounts are factored in.
A 40-year-old driver could save $214 a year by switching from a $100 deductible up to a $500 deductible, or save $324 by switching to a $1,000 deductible. Young drivers, like the 20-year-old example, could roll back prices up to $714 or more by using higher deductibles when buying full coverage. If you do raise deductibles, it will be required to have enough funds in savings to allow you to pay the extra out-of-pocket expense associated with higher deductibles.
Does full coverage make sense?
Reducing the cost of auto insurance should be important to the majority of people, and one easy way to pay less for insurance for good drivers is to not pay for full coverage. The chart below shows the difference between annual premium costs with and without physical damage coverage. The premiums are based on no claims or driving citations, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.
If all age groups are averaged, comp and collision coverage costs $1,297 per year over and above liability only. That is a significant amount which raises the question if buying full coverage is worth the expense. There is no written rule that is best for determining when to drop full coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s say your vehicle’s replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $5,000 after you pay the deductible. If you are currently paying more than $500 a year for full coverage, then you might want to consider buying only liability coverage.
There are some conditions where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not buy liability only.
How to find budget-friendly car insurance for good drivers
It’s not impossible to find cheaper rates, and here are a few money-saving ideas that can help you find lower-cost coverage.
- Do not get tickets or violations
- Raise your deductibles
- Avoid at-fault accidents and claims
- Good credit scores may lower your rates
- Full coverage is expensive so only insure older vehicles for liability only
- Buy safe vehicles
- Compare rates regularly to ensure the best deal
That last piece of advice is extraordinarily valuable, as we emphasized in this article. Prices charged by companies can be modified anytime, so you should be ready to change insurance companies if a more affordable price is available.
Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that inflexibility results in costing you lots of money. Spend a few minutes and shop around and find cheaper auto insurance for good drivers in Las Vegas.
The insurance agencies listed below are a good start to answer your questions and help you decide which is the best policy, as some drivers have questions and prefer to have a professional recommendation when buying car insurance for good drivers. It can be time-consuming to find the best policy on your own, so insurance agents licensed in the state of Nevada can give you comfort knowing your policy gives you adequate protection in case of an accident or claim.
To find an agent near you, click the button following the list or click here to compare price quotes.
Luria Walker – State Farm Insurance Agent
3124 N Rainbow Blvd – Las Vegas, NV 89108 – (702) 645-3300
Ron Reedom – State Farm Insurance Agent
1943 N Nellis Blvd – Las Vegas, NV 89115 – (702) 459-9546
State Farm: Eric James
1350 E Flamingo Rd #14 – Las Vegas, NV 89119 – (702) 836-0953