You have probably watched the captivating commercials from companies like The General, Nationwide, and State Farm promising enormous savings, so drivers just need to pick the company with the cutest commercial, right?
It’s not that simple, unfortunately, as there are a ton of unknown factors like if you are a man or woman, if you own or rent your home, and whether you just want liability only, that all impact the cost of your policy. This article covers some of these topics and hopefully give you enough understanding to have some help in finding cheaper rates.
One of the many criteria that aid in calculating the amount you pay for auto insurance is where you call home in Las Vegas. Cities with larger populations tend to have more expensive car insurance rates, whereas more rural areas have the luxury of cheap car insurance rates.
The next table rates the highest-priced places in Nevada for a learners permit to purchase car insurance in. Las Vegas is ranked #6 with an annual premium of $1,873 for the average insurance policy, which is around $156 per month.
|Rank||City||Average Per Year|
|5||North Las Vegas||$1,882|
|Compare Rates Now Go|
Rates are estimated as the specific garaging location can change premiums noticeably.
Finding reliable, reasonably-priced car insurance is challenging, and deciding which companies have the cheapest insurance rates for a learners permit involves even more work. Each auto insurer has a proprietary formula for filing rates in each state, so first let’s look at the rankings for the most budget-friendly insurance companies in Las Vegas.
Best Insurance Companies in Nevada
|Rank||Company||Cost Per Year|
|Get Personalized Rates Go|
Travelers normally has some of the lowest car insurance rates in Las Vegas at around $903 each year. Allied, Capital, Oregon Mutual, and American Family also qualify as some of the cheapest Las Vegas, NV insurance companies.
As the example above demonstrates, if you currently have a policy with Oregon Mutual and switched to Allied, you might realize an annual premium reduction of in the neighborhood of $247. Policyholders with American Family could save as much as $271 a year, and Progressive policyholders might realize rate reductions of up to $291 a year.
To find the cheapest rates for your vehicle, click here to begin a quote or visit several of the following companies.
Be aware that those policy prices are averages for all drivers and vehicles in Nevada and do not take into consideration an exact location for a learners permit. So the car insurance company that can offer the best rates for your situation may not even be in the list above. That emphasizes why you need to get rate quotes from many companies using your own personal information and vehicle type.
The vehicle model you are insuring is one of the main factors that determines if you can find cheap coverage for a learners permit. Vehicles with average performance, good crash test ratings, or a track record of few liability claims will cost substantially less to insure than high performance models.
The next table estimates coverage costs for a number of the most economical vehicles to insure in Nevada.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$11,115|
|Ford Escape XLT 4WD||$11,125|
|Ford F-150 XLT Super Cab 2WD||$12,383|
|Dodge Grand Caravan CV||$12,389|
|Ford Explorer Eddie Bauer 2WD||$12,383|
|Volkswagen Jetta 2.0T Station Wagon||$12,568|
|GMC Sierra SL Extended Cab 2WD||$13,058|
|Toyota RAV4 Limited 2WD||$13,068|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$13,162|
|Ford Focus SEL 4-Dr Sedan||$13,627|
|Hyundai Elantra Blue 4-Dr Sedan||$13,632|
|Toyota Corolla XLE||$13,734|
|Chevrolet Impala LTZ||$13,741|
|Ford Edge Sport 2WD||$13,734|
|Honda Odyssey EX-L W/Navigation||$13,743|
|Toyota Camry XLE||$13,734|
|Nissan Altima Hybrid 4-Dr Sedan||$13,837|
|Jeep Grand Cherokee Limited 2WD||$13,845|
|Chevrolet Malibu LTZ||$13,837|
|Get a Custom Quote Go|
Data based on single male 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. Prices do not factor in vehicle location which can modify coverage rates significantly.
Based upon these rates, cars like the Honda CR-V, Ford Escape, Toyota Prius, Ford F-150, and Dodge Grand Caravan are going to be a few of the cheaper vehicles to insure for new drivers. The price for car insurance will trend higher because there is more inherent risk for a learners permit, but in general those models will have the cheapest auto insurance rates available.
Discounts on Las Vegas car insurance rates
Insurers that sell policies for a learners permit may additionally offer rate discounts that can lower rates by 30% or more if you can meet the requirements. A list of insurance companies and a selection of discounts are:
- American Family has discounts for air bags, multi-vehicle, accident-free, good student, early bird, and TimeAway discount.
- Nationwide offers discounts for good student, business or organization, multi-policy, defensive driving, and anti-theft.
- MetLife may include discounts for defensive driver, good student, good driver, accident-free, multi-policy, claim-free
- 21st Century offers premium reductions for driver training, anti-lock brakes, teen driver, air bags, homeowners, and student driver.
- Farmers Insurance may have discounts that include distant student, business and professional, early shopping, homeowner, mature driver, and multi-car.
- Allstate has savings for good student, premier plus, good payer, senior citizen, safe driver, auto/life discount, and utility vehicle.
The illustration below visualizes the comparison of insurance prices with and without discounts applied. The price estimates are based on a male driver, a clean driving record, no at-fault accidents, Nevada state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, anti-theft, good student, continuous coverage, paid-in-full, and paperless filing discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on insurance for a learners permit is 28% or $640.
The example below demonstrates how choosing different deductibles can affect premium costs when researching cheap insurance for a learners permit. The rate quotes are based on a married male driver, comp and collision included, and no additional discounts are factored in.
The data above shows that a 50-year-old driver could cut expenses by $214 a year by switching from a $100 deductible to a $500 deductible, or save $324 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, could possibly save as much as $714 every year just by choosing higher deductibles when buying full coverage. If you do decide to increase your deductibles, it will be required to have enough savings to pay the extra out-of-pocket expense associated with higher deductibles.
Insuring your vehicle with a good quality company can be a challenge considering how many companies there are to choose from in Nevada. The company rank data displayed below could help you decide which auto insurance companies to look at when comparing rate quotes.
These ratings only include the largest auto insurers in America, so smaller companies that only insure vehicles in Nevada are not factored into these rankings. To compare prices and find cheaper insurance for a learners permit, follow this link.
Top 10 Large Auto Insurance Providers Overall in Las Vegas
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Titan Insurance
- Mercury Insurance
Top 10 Large Auto Insurance Providers in Las Vegas Ranked by Customer Service
- State Farm
- The Hartford
- Mercury Insurance
- The General
- AAA Insurance
- American Family
Low rates today, overpriced tomorrow
Las Vegas insurance rates are determined by lots of factors that control the price of your policy. Simply having a birthday, moving to a different location, or getting a ticket for running a stop sign may cause policy rate changes that may make certain companies cheaper than competitors. Not only that, but companies file new Nevada car insurance rates every year to adjust for heavy claims or excess profits. Higher than normal claims may cause high rates, while profitable underwriting may produce more affordable Las Vegas car insurance rates.
The graph below shows the companies that have the cheapest car insurance in Las Vegas, NV for a 35-year-old male driver with no accidents or violations, and a good credit rating. Based on his current situation, Allied might quote the most affordable car insurance rates in Las Vegas at $1,636 a year. This is $62 more than the average price paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family are the remainder of the top five cheapest Las Vegas, NV auto insurance companies.
In this example, we will give the driver from above a couple of claims, a little lower credit rating, and a blemish on his driving record. Since each auto insurer has a unique formula for filing rates in each state, comparing rates most likely will result in a different ranking of companies as shown below.
GEICO now has the lowest price in Las Vegas with Nationwide, Safeco, USAA, and Travelers also having competitive pricing. This example shows why it is so important to compare rates when trying to get affordable car insurance rates for a learners permit. Insurance rates are influenced by many risk factors and change dramatically, so the most affordable company two years ago may now be costing you a lot of money.