The words “bargain” and “auto insurance” really shouldn’t be used together, in particular when you are shopping around for the lowest insurance prices for college graduates. Because it’s not cheap, let’s go over a few of the factors that have an effect on car insurance prices, and see if we can help you shave a little off the next policy you buy.
The vehicle model that is being insured is a significant factor when comparing quotes for the most economical coverage for college graduates. Vehicles with high performance, poor passenger safety features, or a history of substantial liability claims will cost much more to insure than more economical and safe models.
The list below estimates auto insurance premiums for the most affordable automobiles to insure in Nevada.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $2,428 |
| Hyundai Elantra SE Touring Station Wagon | $2,630 |
| Honda Accord EX 4-Dr Sedan | $2,778 |
| Honda CR-V EX 4WD | $2,838 |
| GMC Sierra SLE Regular Cab 2WD | $2,870 |
| Chevrolet Equinox LT 2WD | $2,875 |
| Toyota RAV4 Sport 2WD | $2,870 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $2,927 |
| Ford Focus SES 4-Dr Sedan | $2,966 |
| Ford Edge Limited AWD | $3,019 |
| Toyota Corolla XLE | $3,029 |
| Honda Odyssey LX | $3,058 |
| Toyota Prius | $3,072 |
| Chevrolet Silverado LTZ Crew Cab 4WD | $3,075 |
| Dodge Grand Caravan CV | $3,118 |
| GMC Sierra 3500HD SLE Crew Cab 2WD | $3,128 |
| Dodge Ram Crew Cab SLT 2WD | $3,132 |
| Chevrolet Impala LS | $3,227 |
| Volkswagen Jetta S 2.5 Station Wagon | $3,234 |
| Kia Optima SX | $3,280 |
| Ford Fusion SEL AWD 4-Dr Sedan | $3,287 |
| Toyota Camry LE | $3,287 |
| Ford F-150 XL Super Cab 4WD | $3,337 |
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Prices do not factor in specific location information which can change coverage prices noticeably.
By looking at the data, cars like the Ford Escape, Hyundai Elantra, Honda Accord, Honda CR-V, and GMC Sierra are likely to be the cheapest vehicles to insure for college grads.
One of the more important components that are looked at to help calculate car insurance rates is where you choose to live in Las Vegas. Cities with larger populations will most likely pay more, whereas areas with less crime or weather claims benefit from lower prices.
The table below ranks the most costly cities in Nevada for college graduates to purchase auto insurance in. Las Vegas is ranked #5 with the annual price of $1,949 for the average policy, which is around $162 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Winchester | $2,094 |
| 2 | Spring Valley | $2,060 |
| 3 | Paradise | $2,041 |
| 4 | Sunrise Manor | $2,029 |
| 5 | Las Vegas | $1,949 |
| 6 | Enterprise | $1,908 |
| 7 | North Las Vegas | $1,900 |
| 8 | Henderson | $1,767 |
| 9 | Boulder City | $1,511 |
| 10 | Pahrump | $1,337 |
| 11 | Mesquite | $1,325 |
| 12 | Sun Valley | $1,305 |
| 13 | Sparks | $1,304 |
| 14 | Spanish Springs | $1,266 |
| 15 | Reno | $1,256 |
| 16 | Fernley | $1,137 |
| 17 | Carson City | $1,136 |
| 18 | Elko | $1,125 |
| 19 | Gardnerville Ranchos | $1,116 |
| 20 | Dayton | $1,097 |
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Price information shown is comparative as the specific zip code location can increase or decrease premium rates noticeably.
Establishing which company offers the cheapest auto insurance rates for college graduates may require more time in order to find the most economical policy.
Each insurance company has a proprietary formula for setting rates, so we’ll go over the most competitive auto insurance companies in Nevada. We do need to point out that Nevada auto insurance rates are influenced by many factors that control the price you pay. Simply getting older, buying a new vehicle, or getting a DUI can trigger changes in premium that can make some companies more affordable than others.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $903 |
| 2 | Allied | $921 |
| 3 | Capital | $988 |
| 4 | Oregon Mutual | $1,158 |
| 5 | American Family | $1,194 |
| 6 | Progressive | $1,226 |
| 7 | GEICO | $1,269 |
| 8 | USAA | $1,284 |
| 9 | Nationwide | $1,334 |
| 10 | Safeco | $1,346 |
| 11 | Farmers | $1,482 |
| 12 | MetLife | $1,567 |
| 13 | Country | $1,668 |
| 14 | State Farm | $1,681 |
| 15 | Mercury | $1,771 |
| 16 | Victoria | $2,031 |
| 17 | Liberty Mutual | $2,161 |
| 18 | Bristol West | $2,313 |
| 19 | Allstate | $2,337 |
| 20 | Encompass | $2,684 |
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Travelers normally has some of the best car insurance rates in Las Vegas at around $903 per year. This is $671 less than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family also rank well as some of the most economical Las Vegas, NV car insurance companies.
As shown in the table above, if you buy coverage from Allied and switched to Travelers, you may realize a yearly price reduction of roughly $18. Insureds with Capital might save as much as $85 a year, and Oregon Mutual customers might realize rate reductions of up to $255 a year.
Understand that those prices are averages across all drivers and vehicles and and are not figured with an exact vehicle garaging location for college graduates. So the auto insurance company that has the lowest price for you may not even be in the top 20 companies shown above. That point stresses why you need to quote rates from many companies using your own driver and vehicle profiles.
The chart below demonstrates how deductibles can impact insurance costs when quoting cheap insurance for college graduates. The costs are based on a married male driver, full physical damage coverage, and no policy discounts are applied.
As shown above, a 30-year-old driver could lower their policy premium by $238 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $360 by selecting a $1,000 deductible. Even younger drivers, such as the Age 20 example, could reduce their rates up to $714 each year by selecting a higher deductible. If you do raise deductibles, it will be important to have enough savings to enable you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Discount Las Vegas insurance rates
Car insurance companies that sell policies for college graduates may have policy discounts that may potentially lower prices by 25% or more if you meet the requirements. A list of auto insurance companies and a selection of discounts are included below.
- Progressive offers discounts for continuous coverage, multi-vehicle, homeowner, online quote discount, multi-policy, and good student.
- Farmers Insurance offers premium reductions for homeowner, switch companies, pay in full, mature driver, bundle discounts, and multi-car.
- Farm Bureau has savings for renewal discount, driver training, multi-vehicle, multi-policy, and safe driver.
- State Farm may include discounts for Steer Clear safe driver discount, accident-free, student away at school, multiple policy, good driver, passive restraint, and good student.
- GEICO includes discounts for emergency military deployment, anti-theft, driver training, good student, air bags, federal employee, and daytime running lights.
- SAFECO offers discounts including multi-car, homeowner, drive less, anti-lock brakes, accident prevention training, and safe driver.
- Liberty Mutual has discounts for safety features, newly married, multi-policy, hybrid vehicle, teen driver discount, and exclusive group savings.
The example below shows the difference between insurance costs with and without discounts being applied to the rates. The prices are based on a male driver, no violations or claims, Nevada state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with marriage, multiple policy, claim-free, accident-free, homeowner, and passive restraint discounts applied. When discounts are factored in, theaverage amount saved on auto insurance for college graduates is 28% or $401.
Cautious drivers save money
The best way to maintain cheap auto insurance rates in Las Vegas for college grads is to be a good driver and have a clean driving record. The example below highlights how traffic violations and at-fault claims can increase annual premium costs for each different age category. The costs are based on a single female driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
In the previous example, the average cost of car insurance in Nevada per year with no accidents or violations is $1,239. Get two speeding tickets and the average cost increases to $1,648, an increase of $409 each year. Now get two accidents along with the two speeding tickets and the annual cost of auto insurance for college graduates jumps again to an average of $3,356. That’s an increase of $2,117, or $176 per month, just for not paying attention while driving!
A good deal can quickly turn bad
Las Vegas auto insurance rates are impacted by many factors that can increase the price of coverage. Simply turning a year older, marrying your spouse, or having an accident can trigger price changes that can make some companies more affordable than competitors.
Not only that, but companies file new Nevada car insurance rates as often as every three months in order to protect their financial rating. Higher than normal claim frequency or severity may cause rate increases, while a profitable period can produce cheaper Las Vegas car insurance rates.
The chart below compares the cheapest car insurance in Las Vegas, NV for a 35-year-old female driver with a good driving record, no prior claims, and a good credit rating. If we estimate rates based on her current risk factors, Travelers quotes the best car insurance rates in Las Vegas at $1,595 annually. This is $21 more than the average policy premium paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and GEICO round out the rest of the most affordable Las Vegas, NV auto insurance companies.
In this next rate comparison, we will give the driver from above some claims, a lower credit rating, and a couple of points charged on her driving record. Since each auto insurer has a different process for determining rates in each state, getting updated rate quotes most likely will result in a different list of the cheapest Las Vegas car insurance companies as shown below.
American Family now has the cheapest car insurance in Las Vegas with Allied, Nationwide, USAA, and Safeco completing the list. This shows why it is critical to take the time to shop around when trying to find the best insurance quotes for college graduates. Auto insurance prices are influenced by many factors and change substantially, so the best price two years ago may now be quite expensive.