Cheapest Car Insurance for Low Income Drivers in Nevada

Deciding which company offers the lowest-priced insurance rates for low income drivers calls for a bit more effort than just comparing rates from one or two companies. Each auto insurer uses a little different formula for setting prices, so to begin we’ll rank the insurance companies with the most affordable rates in Nevada.

We do need to point out that Nevada insurance rates are calculated based on many things which can significantly increase or decrease the price you pay. Turning one year older, having a claim, or getting into an accident can trigger price changes that can make some companies more affordable than competitors.

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Travelers may have some of the most affordable car insurance rates in Nevada at around $930 each year. Allied, Capital, Oregon Mutual, and Progressive are also some of the more affordable Nevada auto insurance companies.

As shown above, if you are insured with Oregon Mutual and switched to Allied, you might achieve a yearly price reduction of roughly $219. Drivers with Progressive may save as much as $251 a year, and American Family policyholders might lower prices by $291 a year.

To see how much you can save, click here to start your custom quote or visit any of the companies below.

Remember that these premiums are averages across all types of drivers and the different vehicles they drive and do not take into consideration a rate decrease for low income drivers. So the car insurance company that fits your situation best may not even be featured in the above list. That helps illustrate why you need to get rate quotes using your own specific driver information and vehicle.

The type of vehicle needing coverage is a significant factor that determines whether or not you find the cheapest auto insurance for low income drivers in Nevada. Vehicles with average performance, modern passenger safety features, or low incidents of liability claims will cost much less to insure than high performance models. The information below ranks car insurance premiums for a number of the most cost-effective automobiles to insure in Nevada.

Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Price estimates do not factor in specific Nevada garaging location which can impact coverage prices significantly.

Looking at the data, we can presume that makes and models like the Honda CR-V, Dodge Grand Caravan, Hyundai Santa Fe, and Ford Escape are going to be a few of the most affordable vehicles to insure for poor drivers.

Cost difference between full coverage and liability

Finding the cheapest auto insurance for low income drivers in Nevada should be important to the majority of vehicle owners, and an easy way to find cheap insurance is to only buy liability insurance. The diagram below compares car insurance costs with full coverage and liability only. The information is based on no claims or violations, $500 deductibles, single marital status, and no discounts are applied to the premium.

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If we average the cost for ages 20 through 70, physical damage coverage on your policy costs an extra $1,940 per year over liability only. Many of you may wonder if buying full coverage is a good investment. There is no set rule for excluding physical damage coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.

Responsible drivers pay cheaper insurance rates

One of the best ways to earn the best insurance rates in Nevada for poor drivers is to drive attentively and avoid getting tickets or having accidents. The illustration below illustrates how violations and at-fault collisions can raise yearly insurance costs for different age groups. The prices are based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and One Accident’],[‘Age 20’, 3327,3949,4589],[‘Age 30’, 1723,2345,2983],[‘Age 40’, 1693,2317,2957],[‘Age 50’, 1547,2171,2809],[‘Age 60’, 1499,2125,2765],[‘Age 70’, 1851,2477,3119]]);var options = {title: ‘Impact of Citations and Accidents on Nevada Insurance Premiums’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],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);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the previous example, the average cost of auto insurance in Nevada per year with no accidents or violations is $1,940. Add in two speeding tickets and the average cost swells to $2,564, an increase of $624 each year. Then add in one accident along with the two speeding tickets and the annual cost of insurance for low income drivers increases to an average of $3,204. That’s an increase of $1,264, or $105 per month, just for not maintaining a clean driving record!

How to find more affordable insurance for low income drivers

The list below details some penny-pinching ideas that can help Nevada drivers find cheap auto insurance.

• Drive vehicles with five-star safety ratings
• Maintaining good credit helps earn cheaper rates
• Ensure your driving record is clean
• Higher deductibles mean lower rates
• Drop full coverage on older vehicles
• Do not get into accidents that are your fault
• Compare rates often to find the best deal

The last suggestion is very critical, as we discussed in the prior information. Coverage rates vary considerably, so drivers shouldn’t be reluctant to buy a different policy if you find a better deal.

Being loyal to a particular company is commendable, but it’s not recommended if that dedication is costing a wad of cash every year. It only take a few minutes to compare rates and find cheaper car insurance for low income drivers.