Car insurance costs depend on a range of factors, such as your coverage choices and vehicle. Beyond meeting state minimum requirements, optional comprehensive and collision policies offer additional coverage options that could lower premiums significantly. It is essential to understand how each of these features impact rates so you can find an insurance plan that meets all your needs at an affordable cost; MoneyGeek has provided answers to some frequently asked questions about Nevada car insurance as a resource.
An array of personal characteristics can influence your car insurance rate, from your age and driving history to gender and marital status. While some factors are beyond your control – like vehicle model or location – other decisions you have control over such as purchasing more coverage or adding teenage drivers are under your purview. Your deductible choice also plays a part; lower ones often cost less upfront but could require you to cover additional out-of-pocket expenses when filing claims.
Your car insurance provider may use your credit score to help determine how much you owe for coverage. A higher credit score can get you better rates while lower ones could increase premiums; MoneyGeek’s calculator lets you see how different factors could impact them.
Nevada requires drivers to carry at least minimum liability coverage; you may also want to consider uninsured motorist coverage as this can cover medical bills in case of being struck by an uninsured or underinsured driver, making this feature particularly relevant if living in an area with many uninsured drivers.
Addition of teen drivers will typically increase car insurance rates as teens are more prone to accidents. But you could save some money by having them on separate policies with their own limits and deductibles; on average, teens in Nevada will typically have to pay four times as much than drivers aged 30-40 for full coverage car insurance policies.
Your premium will also depend on where you live, since different neighborhoods present different risks of car thefts and accidents. Your insurer will research each neighborhood before setting an appropriate premium; for instance, in Las Vegas more insurance premiums might be assessed than rural Nevada areas.
Reduce your insurance rates by purchasing a car with higher safety ratings or increasing its limits, or by raising the deductible amount (though this will require paying more out-of-pocket if filing a claim). MoneyGeek’s calculator makes it easy to compare quotes for car insurance policies that best meet your needs and budget; local insurers may even offer cheaper rates than national providers with similar customer service ratings.