Cheapest Insurance Quotes for a Toyota RAV4 in Nevada

Our editors keep telling us that when writing about car insurance, the word “cheap” shouldn’t be used as a descriptor for auto insurance rates. Unfortunately, cheap auto insurance for a Toyota RAV4 is just plain contradictory. Don’t let that discourage you, because we are going to tell you how you can still get coverage that is cheaper than what you are paying now.

The chances that you’ll find cheap insurance for a Toyota RAV4 in Nevada is contingent on factors like your marital status, whether or not you are currently insured, and driving violations. Drivers pay an average of $710 per year for RAV4 insurance, but that policy rate is using cost data for a 40-year-old married female that included both comprehensive and collision coverage and $1,000 policy deductibles.

That rate won’t apply to everyone, because more than likely you are not 40 and possibly not even female, maybe you are single instead of married, and you want different coverage limits than the example. Just a slight change in the rating criteria used to formulate rates can result in big changes in how much insurance for a Toyota RAV4 costs.

Insurance is an individual thing, so the best way to quote the cheapest rates for your Toyota is to put in the effort to do a thorough rate comparison.

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Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Estimates do not factor in vehicle garaging location which can influence auto insurance rates substantially.

Figuring out which company quotes the cheapest auto insurance rates for a Toyota RAV4 requires a bit more work in order to find the lowest price quote.

Each auto insurer has a unique approach for determining prices, so we need to take a look at the auto insurance companies with the overall best prices in Nevada. Keep in mind that Nevada auto insurance rates are calculated based on many things that can increase the cost of a policy. Improving your credit rating, having a teen driver, or getting a ticket for careless driving may prompt premium changes that may make certain companies more affordable than competitors.

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Allied quotes some of the cheapest car insurance rates in Nevada at around $921 annually. Travelers, Capital, Oregon Mutual, and American Family would also be considered some of the lowest-priced Nevada insurance companies.

In the above example, if you are insured with Oregon Mutual and switched to Travelers, you might achieve an annual premium reduction of about $217. Customers with American Family may save as much as $264 a year, and Progressive customers might see rate reductions of $296 a year.

Bear in mind that those policy rates are averaged across all drivers and vehicles in Nevada and and are not figured with a specific rate factor for a Toyota RAV4. So the car insurance company that can offer the best rates for your situation may not even be shown in the list of companies above. That helps illustrate why you need to quote rates from many companies using your own driver information and specific vehicle type.

Liability-only versus full coverage

Finding the cheapest insurance for a Toyota RAV4 in Nevada is important to the majority of vehicle owners, and one way to pay lower rates for insurance is to not buy comprehensive and collision coverage. The chart below compares annual premium costs with liability coverage only compared to full coverage. The costs are based on a clean driving record, no claims, $500 deductibles, single status, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 2933,1097],[‘Age 30’, 1541,603],[‘Age 40’, 1507,559],[‘Age 50’, 1377,525],[‘Age 60’, 1333,515],[‘Age 70’, 1639,687]]);var options = {title: ‘Savings of Only Insuring for Liability’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota RAV4 in Nevada’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

As an average for all age groups, physical damage coverage on your policy costs an additional $1,722 per year over and above liability coverage. That proposes the question if buying full coverage is a waste of money. There isn’t a written rule to drop physical damage coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than about 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

There are some circumstances where eliminating full coverage is not financially feasible. If you haven’t paid off your loan, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not drop full coverage.

The example below demonstrates how choosing different deductibles can impact premium costs when searching for cheap insurance for a Toyota RAV4. Data assumes a married female driver, full coverage, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2309,2115,1895,1685],[‘Age 30’, 1617,1477,1315,1159],[‘Age 40’, 1599,1463,1305,1155],[‘Age 50’, 1403,1285,1151,1023],[‘Age 60’, 1335,1221,1093,969],[‘Age 70’, 1437,1317,1183,1057]]);var options = {title: ‘Impact of Deductibles on Toyota RAV4 Insurance Rates in Nevada’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Toyota RAV4’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

In the chart above, a 50-year-old driver could cut expenses by $252 a year by increasing from a $100 deductible up to a $500 deductible, or save $380 by switching to a $1,000 deductible. Younger drivers, such as the Age 20 example, could shave as much as $624 or even more by using higher deductibles when buying full coverage. If you do raise deductibles, it is a good idea to have spare funds to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.