Trying to buy affordable car insurance is confusing at best, and finding out which company quotes the cheapest auto insurance rates for young drivers will require even more rate comparisons. Each auto insurer has a different formula to set premium rates, so let’s begin by examining the most budget-friendly auto insurance companies in Las Vegas, NV.
We do need to point out that Las Vegas auto insurance rates are calculated based on many things that control the policy premium. This price variability is why it is critical to compare rates to get the best auto insurance quotes for young drivers. Auto insurance prices are determined by many risk factors and can change without notice, so the cheapest company the last time you checked may now be one of the higher cost companies.
Compare Cheap Insurance Quotes for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Allied | $911 |
| 2 | Travelers | $912 |
| 3 | Capital | $988 |
| 4 | Oregon Mutual | $1,182 |
| 5 | American Family | $1,218 |
| 6 | Progressive | $1,226 |
| 7 | GEICO | $1,232 |
| 8 | Nationwide | $1,295 |
| 9 | USAA | $1,336 |
| 10 | Safeco | $1,346 |
| 11 | Farmers | $1,482 |
| 12 | Country | $1,602 |
| 13 | MetLife | $1,615 |
| 14 | State Farm | $1,681 |
| 15 | Mercury | $1,825 |
| 16 | Victoria | $2,011 |
| 17 | Liberty Mutual | $2,227 |
| 18 | Allstate | $2,337 |
| 19 | Bristol West | $2,384 |
| 20 | Encompass | $2,630 |
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Allied may offer some of the best car insurance rates in Las Vegas at around $911 per year. Travelers, Capital, Oregon Mutual, and American Family would also be considered some of the more affordable Las Vegas, NV auto insurance companies.
As shown in the table above, if you currently buy coverage from Oregon Mutual and switched to Allied, you could earn a yearly price reduction of upwards of $271. Drivers with American Family could save as much as $307 a year, and Progressive policyholders might realize rate reductions of up to $315 a year.
To find cheaper insurance rates for your vehicle, click here to start your custom quote or visit several of the following companies.
Be aware that those policy prices are averages across all insureds and vehicles and and are not figured with an exact location for young drivers. So the insurer that can offer the best rates for your situation may not even be in the top 20 companies in the list above. That’s why you need to get auto insurance quotes using your own driver data and vehicle information.
One of the more important components that help determine insurance cost is where you live. Cities with larger populations or higher claim trends are more likely to have higher rates, whereas areas with less people or fewer weather incidents have the benefit of cheaper auto insurance prices.
The following table ranks the most expensive cities in Nevada for young drivers to purchase auto insurance in. Las Vegas makes the list at #5 with the annual price of $1,949 on average, which is around $162 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Winchester | $2,158 |
| 2 | Sunrise Manor | $2,090 |
| 3 | Spring Valley | $2,000 |
| 4 | Paradise | $1,981 |
| 5 | Las Vegas | $1,949 |
| 6 | North Las Vegas | $1,882 |
| 7 | Enterprise | $1,870 |
| 8 | Henderson | $1,715 |
| 9 | Boulder City | $1,541 |
| 10 | Mesquite | $1,365 |
| 11 | Pahrump | $1,323 |
| 12 | Sun Valley | $1,305 |
| 13 | Reno | $1,282 |
| 14 | Sparks | $1,265 |
| 15 | Spanish Springs | $1,216 |
| 16 | Carson City | $1,158 |
| 17 | Dayton | $1,141 |
| 18 | Fernley | $1,115 |
| 19 | Gardnerville Ranchos | $1,104 |
| 20 | Fallon | $1,097 |
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Information shown are estimated as the garaging address in Las Vegas can affect insurance rates considerably.
The vehicle you are seeking coverage for is one of the largest factors when comparing the most economical auto insurance for young drivers. Vehicles with lower performance, a great safety record, or a positive history of liability claims will cost much less to insure than adrenaline junky models.
The next table outlines coverage prices for a number of the cheapest automobiles to insure in Nevada.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $8,705 |
| Honda CR-V EX-L 4WD | $8,788 |
| Toyota Prius | $9,419 |
| Honda Odyssey LX | $9,694 |
| Ford F-150 XLT Super Cab 2WD | $9,778 |
| Volkswagen Jetta SE 2.5 Station Wagon | $9,970 |
| Ford Edge SEL AWD | $10,241 |
| Chevrolet Impala LT | $10,325 |
| Toyota RAV4 Limited 4WD | $10,331 |
| Toyota Tacoma Double Cab 4WD | $10,325 |
| Dodge Grand Caravan Crew | $10,409 |
| Ford Explorer Limited 2WD | $10,418 |
| Ford Focus SEL 4-Dr Sedan | $10,792 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $10,869 |
| Hyundai Elantra GLS 4-Dr Sedan | $10,876 |
| Toyota Camry SE | $10,881 |
| Toyota Corolla S | $10,876 |
| Chevrolet Silverado LT Crew Cab 4WD | $10,959 |
| Chevrolet Equinox LTZ AWD | $10,964 |
| Jeep Grand Cherokee Limited 2WD | $10,959 |
| Compare Cheap Rates Go | |
Prices based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in specific garaging location which can raise or lower premiums substantially.
Based on these rates, vehicles like the Ford Escape, Honda CR-V, Toyota Prius, Honda Odyssey, and Ford F-150 are most likely going to be some of the more affordable vehicles to insure for youthful drivers. The price for an auto insurance policy will tend to be more expensive because there is more liability exposure for young drivers, but overall those models will most likely have the lowest insurance prices compared to other vehicles.
Cost comparison with and without full coverage
Buying cheaper auto insurance should be important to most vehicle owners, and one way to find cheaper insurance for young drivers is to only buy liability coverage. The illustration below compares yearly insurance costs when comparing full coverage to liability only. The information is based on no violations or accidents, $250 deductibles, single marital status, and no other discounts are factored in.
If averaged for all ages, physical damage insurance costs an additional $1,621 per year over liability only. Many of you may wonder if paying for full coverage is worth it. There isn’t a steadfast formula for eliminating physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s pretend your vehicle’s replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $8,000 after you pay the deductible. If you are paying over $800 annually for your policy with full coverage, then you may need to consider dropping full coverage.
There are some circumstances where buying only liability insurance is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should keep full coverage.
Ending up with a good quality car insurance provider can be rather challenging considering how many choices there are in Las Vegas. The company rank data shown next may help you decide which coverage providers you want to consider purchasing from. These rankings are only comprised of large insurance companies, so companies that may only write in Nevada are not factored into the list.
Top 10 Major Car Insurance Companies in Las Vegas Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- Liberty Mutual
- GEICO
- Allstate
- Titan Insurance
- The Hartford
- Mercury Insurance
Top 10 Major Car Insurance Companies Overall in Las Vegas
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Titan Insurance
- Progressive
- Mercury Insurance
Compare rates to save
Nevada auto insurance rates are calculated based on many things which can significantly increase or decrease the cost of having a policy. Improving your credit score, having a claim, or getting a driving violation may cause policy rate changes resulting in some companies being cheaper in comparison to the competition.
Not only may your situation change, but insurance companies file new Nevada car insurance rates every year to help ensure profitability. Significantly higher claims can cause a rate increase, while lower claim levels can produce cheaper Las Vegas car insurance rates.
The bar chart below shows the company with the cheapest car insurance in Las Vegas, NV for a 35-year-old female driver with a good driving record, no prior claims, and good financial standing. When comparing rates based on her current situation, Travelers has the lowest car insurance rates in Las Vegas at $1,637 annually. This is $63 more than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive round out the rest of the cheapest Las Vegas, NV auto insurance companies.
Let’s now give the driver from the above example a couple of claims, slightly worse credit, and an imperfect driving record. Since every car insurance company has a proprietary method to determining premium rates, analyzing rate quotes will most likely result in a significantly different list of affordable companies as shown below.
GEICO now has the lowest car insurance rate in Las Vegas, NV with USAA, Safeco, Nationwide, and Allied also being competitive. This example illustrates why drivers need to shop around when trying to find the lowest insurance quotes for young drivers.
Auto insurance prices are calculated by many things and can decrease or increase without notice, so the best option when you bought your policy may now be one of the higher cost companies.