Wouldn’t it be easy if we could look into our crystal ball and tell you the one best car insurance company that has the cheapest rates for homeowners? It’s not quite that easy, unfortunately, as there are a whole slew of unknown elements such as how much you actually drive in a year, your marital status, if you own your own home, and whether or not you have had gaps between policies. The information below covers the best ways to find cheap auto insurance and will hopefully give the reader a solid foundation to find cheaper car insurance.
The vehicle on the policy is a large consideration in finding the most economical car insurance for homeowners. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of liability claims will cost less to insure than adrenaline junky models. The next table presents car insurance costs for a selection of the most budget-friendly automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $2,443 |
| Hyundai Elantra GLS Touring Station Wagon | $2,448 |
| Honda CR-V EX-L 4WD | $2,499 |
| Ford F-150 XLT Crew Cab 2WD | $2,732 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $2,737 |
| Volkswagen Jetta 2.0T Station Wagon | $2,862 |
| Dodge Grand Caravan Hero | $2,886 |
| Toyota Tacoma Double Cab 4WD | $2,939 |
| Toyota Prius | $2,971 |
| Toyota Corolla LE | $3,041 |
| Honda Odyssey Touring | $3,094 |
| Ford Edge SE AWD | $3,101 |
| Ford Focus SE 4-Dr Sedan | $3,179 |
| Ford Explorer Limited 2WD | $3,224 |
| Chevrolet Malibu LT | $3,231 |
| Chevrolet Equinox LS AWD | $3,252 |
| Toyota RAV4 Sport 4WD | $3,261 |
| Honda Accord EX-L 2-Dr Coupe | $3,302 |
| Kia Optima SX | $3,308 |
| Chevrolet Silverado LS Crew Cab 2WD | $3,302 |
| Toyota Camry Hybrid | $3,309 |
| Nissan Altima 2.5 S 4-Dr Sedan | $3,337 |
| Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD | $3,362 |
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Information does not factor in zip code location which can affect insurance rates greatly.
Based on these rates, you can see that vehicles like the Ford Escape, Hyundai Elantra, Honda CR-V, Ford F-150, and Jeep Wrangler are going to be some of the more affordable vehicles to insure for people who own their homes.
Finding reliable, budget auto insurance is challenging, and figuring out which companies offer the best auto insurance rates for homeowners will involve additional perseverance. Every insurance company has their own formula for setting prices, so first let’s look at the rankings for the most budget-friendly auto insurance companies in Las Vegas, NV.
It’s important to understand that Nevada auto insurance rates are based on many factors which can significantly increase or decrease the price of coverage. Simply having another birthday, increasing liability limits, or getting a ticket for careless driving can produce rate changes that can make some companies cheaper than others.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Allied | $921 |
| 2 | Travelers | $939 |
| 3 | Capital | $1,018 |
| 4 | Oregon Mutual | $1,158 |
| 5 | American Family | $1,182 |
| 6 | Progressive | $1,226 |
| 7 | GEICO | $1,269 |
| 8 | Nationwide | $1,282 |
| 9 | USAA | $1,297 |
| 10 | Safeco | $1,346 |
| 11 | Farmers | $1,482 |
| 12 | Country | $1,602 |
| 13 | MetLife | $1,631 |
| 14 | State Farm | $1,732 |
| 15 | Mercury | $1,753 |
| 16 | Victoria | $2,031 |
| 17 | Liberty Mutual | $2,161 |
| 18 | Allstate | $2,314 |
| 19 | Bristol West | $2,407 |
| 20 | Encompass | $2,604 |
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Allied may have some of the most affordable car insurance rates in Las Vegas at around $921 annually. Travelers, Capital, Oregon Mutual, and American Family also rank well as some of the cheaper Las Vegas, NV auto insurance companies.
As the rates illustrate above, if you buy coverage from Capital and switched to Allied, you might see savings of roughly $97. Customers with Oregon Mutual may save as much as $237 a year, and American Family customers might realize rate reductions of up to $261 a year.
If you want to see how much you could save, click here to get a free quote or click through to the companies below.
These policy rates are averages for all ages of drivers and types of vehicles and and are not calculated with a vehicle location for homeowners. So the car insurance company that is best for you may not even be in the top 20 companies shown above. That points out the importance of why you need to get rate quotes using your own specific driver and vehicle information.
For people who own their homes, one of the more important considerations that aid in calculating the amount you pay for auto insurance is where you call home in Las Vegas. Cities with more crime and/or more people tend to have higher auto insurance costs, whereas areas that tend to be more rural receive better rates.
The next table sorts the highest-priced places in Nevada for homeowners to purchase auto insurance in. Las Vegas shows up at #6 with an annual rate of $1,892 for the average insurance policy, which is around $158 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Winchester | $2,158 |
| 2 | Sunrise Manor | $2,069 |
| 3 | Paradise | $2,061 |
| 4 | Spring Valley | $1,980 |
| 5 | Enterprise | $1,927 |
| 6 | Las Vegas | $1,892 |
| 7 | North Las Vegas | $1,882 |
| 8 | Henderson | $1,697 |
| 9 | Boulder City | $1,495 |
| 10 | Pahrump | $1,364 |
| 11 | Mesquite | $1,311 |
| 12 | Reno | $1,294 |
| 13 | Sun Valley | $1,266 |
| 14 | Sparks | $1,265 |
| 15 | Spanish Springs | $1,229 |
| 16 | Carson City | $1,170 |
| 17 | Fernley | $1,149 |
| 18 | Dayton | $1,141 |
| 19 | Gardnerville Ranchos | $1,138 |
| 20 | Elko | $1,125 |
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Information shown are approximated as the specific zip code location can alter price quotes considerably.
Types of discounts on Las Vegas insurance
Insurance companies that offer coverage for homeowners may also provide discounts that could reduce prices by 25% or more if you meet specific eligibility requirements. A list of auto insurance companies and their possible discounts include:
- State Farm includes discounts for accident-free, safe vehicle, good student, driver’s education, and defensive driving training.
- Progressive has discounts for multi-policy, multi-vehicle, continuous coverage, online signing, good student, online quote discount, and homeowner.
- Progressive may include discounts for online quote discount, online signing, multi-vehicle, multi-policy, and good student.
- MetLife may have discounts that include multi-policy, accident-free, defensive driver, good driver, good student, claim-free
- Farm Bureau offers premium reductions for multi-vehicle, driver training, 55 and retired, good student, youthful driver, and renewal discount.
- GEICO may offer discounts for five-year accident-free, multi-policy, driver training, multi-vehicle, defensive driver, federal employee, and emergency military deployment.
- SAFECO has savings for accident prevention training, safe driver, teen safe driver, teen safety rewards, and multi-car.
The chart below shows the difference between annual premium costs with and without discounts applied to the policy premium. The premiums are based on a female driver, no claims or driving violations, Nevada state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with marriage, multiple vehicle, defensive driving course, claim-free, homeowner, and anti-theft discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on auto insurance for homeowners is 28% or $466.
Cost comparison with and without full coverage
Finding the cheapest auto insurance is the goal of most drivers, and an effective way to find cheaper insurance for homeowners is to not buy full coverage. The example below compares auto insurance costs when comparing full coverage to liability only. The prices are based on no violations or accidents, $100 deductibles, single marital status, and no discounts are applied to the premium.
If averaged for all ages, comp and collision coverage costs $1,768 per year more than insuring for liability only. Many drivers may wonder when is it safe to stop buying full coverage. There is no definitive formula to eliminate full coverage, but there is a general school of thought. If the annual cost of having full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
There are a few cases where removing full coverage is not a good idea. If you still have a lienholder on your title, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.
Ratings for Las Vegas auto insurance companies
Ending up with the best car insurance provider can be rather challenging considering how many different companies there are to choose from in Las Vegas. The information displayed below may help you decide which car insurance providers to look at comparing prices from. These rankings include major nationwide insurance companies, so companies that only write business in Nevada or surrounding areas will not be included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
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Data Source: Insure.com Best Car Insurance Companies
How to find the cheapest insurance for homeowners
It is possible to find better rates, and here are some of the better penny-pinching suggestions that can help you get lower-cost coverage.
- Having at-fault accidents will increase rates
- Higher credit ratings may save you money
- Buy safe vehicles
- Increase your comprehensive and collision deductibles
- Just one traffic violation will increase your rates
- Compare rates and switch if you can find a better deal
That last idea is certainly valuable, as we hit on in this piece. Insurance rates in Las Vegas change frequently, so don’t hesitate to buy from a different company if a more affordable price is available. Many drivers prefer to stick with one company, but it’s not recommended if that faithfulness ends up costing you money that could be used for better things. Spend a few minutes and shop around and find cheaper auto insurance for homeowners.
If you prefer to have professional advice when shopping around for cheaper insurance for people who own their homes, the agents listed below can answer your questions and help you decide which policy fits your needs best. To locate an agency close to you, click the button at the bottom of the list.
All Around Insurance Agency, Inc.
3970 N Tenaya Way #110 – Las Vegas, NV 89129 – (725) 696-7707
Juan Diaz State Farm®
352 S Jones Blvd – Las Vegas, NV 89107 – (702) 870-0444
All Nevada Insurance
9440 W Sahara Ave #210 – Las Vegas, NV 89117 – (702) 873-4889