A recent study showed that a large majority of auto insurance policyholders in Nevada have remained with the same auto insurance company for at least four years, and nearly half have never taken the time to shop around. The average driver in the U.S. can save as much as 46.5% each year just by getting comparison quotes, but they don’t understand how simple it is to compare rate quotes.
The recommended way to get more affordable Dodge Ram insurance is to compare prices at least once a year from insurance carriers who sell auto insurance in Las Vegas. You can shop around by following these steps.
- Step 1: It will benefit you to learn about coverages and the measures you can control to prevent high rates. Many rating criteria that result in higher prices such as traffic citations, accidents, and a less-than-favorable credit score can be controlled by making small lifestyle or driving habit changes. This article provides tips to find cheap rates and get additional discounts.
- Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from one company like GEICO or State Farm, while agents who are independent can quote rates from multiple sources. Find a Las Vegas insurance agent
- Step 3: Compare the new rates to your current policy premium to determine if switching companies saves money. If you find a lower rate, make sure there is no lapse in coverage.
The key aspect of shopping around is to try to use identical deductibles and limits on every price quote and to quote with as many different companies as possible. This ensures a fair rate comparison and the best price selection.
If you are already insured, you will be able to save money using this strategy. Choosing the best rates in Las Vegas is not rocket science. But Nevada car owners need to learn the way companies price online insurance and use it to your advantage.
Four Things That Influence Your Insurance Prices
Lots of factors are taken into consideration when quoting car insurance. Some factors are common sense such as your driving history, although some other factors are less obvious such as your credit history or your financial responsibility.
The itemized list below are some of the most rate-impacting factors car insurance companies consider when setting your premiums.
Save by driving less – The more you drive your Dodge in a year the more you will pay for car insurance. The majority of insurers calculate rates partially by how you use the vehicle. Cars that do not get driven very much get more affordable rates than vehicles that have high annual mileage. Having an incorrect usage rating on your Ram is just wasting money. It’s a smart idea to ensure your declarations sheet states the correct driver usage, because improper ratings can cost you money.
Cut car insurance rates and deter theft – Buying a car with a theft deterrent system can earn a premium discount. Anti-theft devices such as OnStar, LoJack tracking, and tamper alarms can thwart your vehicle from being stolen.
Pay more for higher performance vehicles – The type of car, truck or SUV you drive makes a significant difference in the rate you pay. The most favorable rates will normally be found when insuring smaller low performance passenger models, but there are many factors that impact the final cost.
The chart below is based on a single female driver age 30, full coverage with $100 deductibles, and no discounts or violations. The data compares Dodge Ram policy rates compared to other models that have a range of performance risks.
With age comes lower costs – More mature drivers are shown to be more cautious, are lower risk to insure, and receive fewer citations. Youthful drivers are statistically proven to be easily distracted when driving with friends therefore car insurance rates are much higher.
The following chart uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.
Rates and information analytics
The data table shown next outlines different insurance rates for Dodge Ram models. Knowing how insurance premiums are formulated can be valuable when making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Ram Quad Cab ST 2WD||$272||$330||$456||$26||$136||$1,220||$102|
|Ram Quad Cab TRX4 Off Road 2WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Quad Cab SLT 2WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Crew Cab ST 2WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Quad Cab ST 4WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Crew Cab SLT 2WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Crew Cab TRX 2WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Quad Cab SLT 4WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Crew Cab ST 4WD||$306||$402||$456||$26||$136||$1,326||$111|
|Ram Crew Cab Sport 2WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Quad Cab Sport 2WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Quad Cab TRX4 Off Road 4WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Crew Cab TRX 4WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Crew Cab SLT 4WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Quad Cab Laramie 2WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Crew Cab Laramie 2WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Crew Cab Sport 4WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Quad Cab Sport 4WD||$342||$472||$456||$26||$136||$1,432||$119|
|Ram Crew Cab Laramie 4WD||$342||$544||$456||$26||$136||$1,504||$125|
|Ram Quad Cab Laramie 4WD||$342||$544||$456||$26||$136||$1,504||$125|
|Get Your Own Custom Quote Go|
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Table data does not factor in specific zip code location which can impact insurance rates considerably.
The illustration below demonstrates how deductible levels and can raise or lower Dodge Ram insurance premiums for different categories of driver ages. The premiums are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
Bad driving habits will cost you more
The chart below illustrates how speeding tickets and at-fault fender-benders can influence Dodge Ram annual premium costs for different age groups. The price estimates are based on a married male driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.
Full coverage versus liability-only in Las Vegas
The chart below shows the comparison of Dodge Ram insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Nevada. Data assumes no claims, a clean driving record, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
Deciding between full coverage and liability only
There is no definitive formula of when to stop paying for comp and collision coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than around 10% 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 pretend your Dodge Ram replacement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $6,000 after paying your policy deductible. If premiums are more than $600 annually for comprehensive and collision 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 haven’t paid off your loan, you have to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not drop full coverage.
These discounts can lower your insurance quotes
Companies that sell car insurance don’t list every possible discount very well, so we break down both well-publicized and the more hidden discounts that may be available.
- Low Mileage – Low mileage vehicles could earn cheaper insurance rates.
- Drivers Ed for Students – Require your teen driver to enroll and complete driver’s education as it will make them better drivers and lower rates.
- No Accidents – Las Vegas drivers who stay claim-free can earn big discounts in comparison to policyholders that have many claims.
- Discounts for Federal Employees – Having worked for a branch of the government can earn a discount up to 10% with select insurance companies.
- Telematics Data – Las Vegas drivers who agree to allow driving data collection to analyze vehicle usage by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive could save a few bucks if they show good driving skills.
One last thing about discounts, most discount credits are not given to the whole policy. The majority will only reduce the price of certain insurance coverages like comp or med pay. Despite the appearance that all the discounts add up to a free policy, it’s just not the way it works.
The chart below compares Dodge Ram auto insurance costs with and without discounts applied to the policy premium. The data is based on a female driver, no claims or driving violations, Nevada state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, safe-driver, homeowner, and multi-policy discounts applied.
Companies that have most of the discounts above include:
Double check with every insurance company which discounts you qualify for. Some of the earlier mentioned discounts may not be offered in your area. If you would like to view insurance companies with significant discounts in Las Vegas, click this link.
Persistence is the key to affordable rates
Cheaper insurance in Las Vegas is definitely available online and from local insurance agents, and you need to price shop both to have the best chance of lowering rates. Some companies don’t offer internet price quotes and many times these small insurance companies sell through independent agents.
When buying insurance coverage, it’s a bad idea to skimp on coverage in order to save money. There have been many cases where consumers will sacrifice liability limits or collision coverage only to discover later that the few dollars in savings costed them thousands. The ultimate goal is to get the best coverage possible at the best possible price.
In this article, we presented some good ideas how to compare Dodge Ram insurance prices in Las Vegas. The key concept to understand is the more price quotes you have, the better your chances of lowering your rates. Consumers may even find the best price on insurance is with some of the smallest insurance companies. Some small companies may cover specific market segments cheaper than the large multi-state companies such as GEICO and State Farm.
Additional detailed information can be read by following these links:
- Think You’re a Safe Driver? (State Farm)
- Who Has Cheap Las Vegas Auto Insurance Rates for a GMC Sierra? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for High Mileage Drivers in Las Vegas? (FAQ)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Liability Insurance Coverage (Nationwide)