Who Has the Cheapest Insurance Quotes for Used Cars in Nevada?

It’s hard to avoid all the ads from insurers like The General and Nationwide guaranteeing dirt cheap rates. So you just need to choose the one with the best commercial, right?

It’s not that easy, however, as there are a lot of unknown elements like whether you have good or poor credit, where you choose to live in Nevada, if you are married, and the liability claim history for your vehicle model. We will try to teach you about the types of things that cause high car insurance rates and will hopefully give you a jump start in finding the best auto insurance.

For Nevada drivers, one of the criteria that is used by auto insurance companies to calculate insurance cost is where you keep your car in Nevada. Areas that are more densely populated or have higher claim rates like Winchester, Spring Valley, and Las Vegas will most likely pay more, whereas areas with less congestion generally benefit from lower auto insurance rates.

The information below illustrates the most costly cities in Nevada for used cars to purchase car insurance in.

Rates are approximated as specific location information can influence price quotes substantially.

Performance level and cost of the vehicle driven is probably the most important factor in finding the most economical car insurance for used cars. Vehicles with lower acceleration and performance, an excellent safety record, or a positive history of liability claims will cost less to insure than higher performance models. The lists below ranks auto insurance costs for a number of the most economical automobiles to insure.

Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Information does not factor in your specific Nevada location which can impact rates considerably.

Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in specific Nevada garaging location which can increase or decrease price quotes considerably.

Table data represents single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Premium costs do not factor in garaging location in Nevada which can raise or lower premiums significantly.

Discounts on the cheapest insurance for used cars in Nevada

<img class="shadow floatright" src="http://www.quoteclickinsure.com/blog/wp-content/uploads/best-car-insurance-used-cars-nv.jpg" alt="Cheaper Nevada car insurance for pre-owned vehicles”/>Car insurance companies that sell policies for used cars may provide discounts that can reduce rates by 25% or more if you meet specific eligibility requirements. A few of the larger companies and some of the premium reductions they offer can be found below.

The example below shows the difference between premium costs with and without discounts applied to the policy premium. The data assumes a female driver, no violations or accidents, Nevada state minimum liability limits, full physical damage coverage, and $100 deductibles.

The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with claim-free, accident-free, marriage, passive restraint, anti-theft, and homeowner discounts applied. When drivers take advantage of discounts, the the amount saved on car insurance for used cars is % or $.

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Rate comparison of full coverage and liability-only

Finding the cheapest insurance for used cars in Nevada is probably important to the majority of vehicle owners, and an easy way to find cheap insurance is to not buy full coverage. The diagram below shows the comparison of insurance prices with and without full coverage. The premiums are based on no accidents or driving violations, $500 deductibles, single marital status, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 2473,937],[‘Age 30’, 1305,517],[‘Age 40’, 1275,479],[‘Age 50’, 1163,449],[‘Age 60’, 1127,441],[‘Age 70’, 1387,589]]);var options = {title: ‘Full Versus Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Nevada’,minValue: 0,format: ‘$###,###’},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 overall average, comp and collision coverage costs an extra $1,455 per year more than just buying liability insurance. That is a significant amount which raises the question when is it safe to stop buying full coverage. There is no specific rule to exclude physical damage insurance, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let’s assume your vehicle’s book value is $10,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $9,000 after paying your policy deductible. If premium cost is more than $900 a year to have full coverage, then you may want to consider only buying liability coverage.

There are some scenarios where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not remove full coverage.