Cheap Auto Insurance for Drivers Requiring a SR22 in Nevada

The vehicle to be insured is probably the largest consideration that determines the availablility of cheap auto insurance for drivers requiring a SR22 in Nevada. Vehicles with average performance, a plethora of safety features, or a low likelihood of liability claims will cost less to insure than high performance models.

The information below shows coverage costs for the most economical automobiles to buy insurance for.

Prices based on married male driver age 40, two speeding tickets, two at-fault accidents, $500 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Premium costs do not factor in specific location which can change insurance rates considerably.

Looking at the data, vehicles like the Honda CR-V, Volkswagen Jetta, and Subaru Forester are most likely going to be a few of the more affordable vehicles to insure for high risk drivers. The price for car insurance will trend higher because there is more claim exposure for drivers requiring a SR22, but overall those particular models will tend to have the cheapest rates compared to all other vehicles.

Comparing rates for budget insurance is not the easiest thing to do, and figuring out which companies quote the lowest-priced insurance rates for drivers requiring a SR22 calls for even more shopping around. Rates will most likely be much greater than the average price in Nevada, with the extra cost attributed to the potentially higher risk that goes along with offering coverage for high risk drivers, but economical coverage should be available if you find the right company. Each auto insurer uses their own calculation for determining rates, so first we will examine the most affordable insurance companies in Nevada.

Keep in mind that Nevada insurance rates are impacted by many things that will increase or decrease the price of your policy. Price variation is why Nevada drivers need to shop around to get cheap auto insurance rates for drivers requiring a SR22. Insurance prices can be determined by many things and can change substantially, so the cheapest company the last time you shopped your coverage around may now be quite expensive.

Cheap Insurance Rates for SR22 Drivers

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Allied offers some of the most affordable car insurance rates in Nevada at around $911 annually. Travelers, Capital, Oregon Mutual, and American Family also make the cut as some of the cheaper Nevada car insurance companies.

As depicted above, if you currently have coverage with Travelers and switched to Allied, you may see a yearly price reduction of about $1. Policyholders with Capital may save as much as $107 a year, and Oregon Mutual insureds might reduce prices by as much as $247 a year.

If you want to find out if you’re overpaying, click here to start your free quote or visit several of the following companies.

Be aware that those prices are averages for all types of insureds and vehicles and and are not calculated with a rate increase for drivers requiring a SR22. So the insurer that fits you best may not even be featured in the above list. That underscores the importance of why you need to get quotes using your own specific driver information and vehicle.

Does full coverage make sense?

Finding cheap auto insurance for drivers requiring a SR22 in Nevada is important to most vehicle owners, and an easy way to save on the cost of insurance is to only pay for liability coverage. The information below compares car insurance rates with and without physical damage coverage. The price estimates are based on no driving violations, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are applied to the premium.

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If averaged for all ages, full coverage costs an extra $1,969 per year more than just buying liability insurance. At some point, almost every driver questions if paying for full coverage is a waste of money. There is no specific rule of when to eliminate physical damage coverage, but there is a general school of thought. If the annual cost of coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.

For example, let’s assume your vehicle’s replacement value is $5,500 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $4,500 after the policy deductible has been paid. If premium cost is more than $450 a year for your policy with full coverage, then it could be time to drop full coverage.

Impact of speeding/accidents on Nevada insurance rates

In a perfect world, the ideal way to maintain affordable insurance premiums for high risk drivers is to drive carefully and avoid traffic citations and accidents. The example below illustrates how speeding tickets and at-fault collisions can affect auto insurance costs for different age groups. The premiums assume a married female driver, full coverage, $250 deductibles, and no discounts are factored in.

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The data charted above shows the average cost of car insurance in Nevada per year with a clean driving record and no accidents is $1,252. Get written up for two speeding tickets and the average cost rises to $1,777, an increase of $525 each year. Then include one accident along with the two speeding tickets and the annual cost of insurance for drivers requiring a SR22 goes up to an average of $2,301. That’s an increase of $1,049, or $87 per month, just for not being more responsible behind the wheel!

Progressive, Geico, State Farm, or Allstate: Who is best?

If you’re looking for the cheapest car insurance for high risk drivers in Nevada, the companies with the most market share are Progressive, Geico, State Farm, and Allstate. All four can cover your vehicle for liability and physical damage, but each one has different options that you can choose from. The data below rates some of the different options that policyholders can buy.