Finding out which companies have the cheapest auto insurance rates for high risk drivers will involve a little more work in order to find the lowest price quote. Each insurer has their own unique process to determine premium rates, so let’s take a look at the auto insurance companies that tend to have lower prices in Nevada.
Best Insurance Companies for Risky Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $930 |
| 2 | Allied | $949 |
| 3 | Capital | $1,008 |
| 4 | Oregon Mutual | $1,158 |
| 5 | Progressive | $1,202 |
| 6 | American Family | $1,218 |
| 7 | GEICO | $1,219 |
| 8 | Nationwide | $1,282 |
| 9 | USAA | $1,284 |
| 10 | Safeco | $1,306 |
| 11 | Farmers | $1,482 |
| 12 | MetLife | $1,615 |
| 13 | Country | $1,651 |
| 14 | State Farm | $1,732 |
| 15 | Mercury | $1,753 |
| 16 | Victoria | $2,011 |
| 17 | Liberty Mutual | $2,249 |
| 18 | Bristol West | $2,336 |
| 19 | Allstate | $2,337 |
| 20 | Encompass | $2,710 |
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Travelers has some of the most affordable car insurance rates in Henderson at around $930 each year. This is $644 less than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive also qualify as some of the more affordable Henderson, NV auto insurance companies.
As shown in the rates above, if you currently have a policy with Allied and switched to Travelers, you may realize yearly savings of in the neighborhood of $19. Nevada drivers with Capital might save as much as $78 a year, and Oregon Mutual policyholders might cut rates by $228 a year.
To see if you’re overpaying, click here to begin a quote or visit several of the following companies.
Be aware that those rates are averages for all types of insureds and vehicles and and are not calculated with an exact zip code location for high risk drivers. So the auto insurance company that can offer you the lowest price may not even be in the top 20 companies shown above. That’s why you need to get quotes using your own personal information and vehicle type.
For high risk drivers, one of the largest criteria that aid in calculating the annual cost of car insurance is where you live in Henderson. Areas with more people or higher crime rates are more likely to have higher rates, whereas areas with lower crime rates and fewer weather claims receive better rates.
The table below sorts the most expensive places in Nevada for high risk drivers in which to buy car insurance. Henderson makes the list at #8 with an annual cost of $1,749 on average, which is approximately $146 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Winchester | $2,116 |
| 2 | Sunrise Manor | $2,029 |
| 3 | Paradise | $1,981 |
| 4 | Spring Valley | $1,980 |
| 5 | Enterprise | $1,927 |
| 6 | North Las Vegas | $1,900 |
| 7 | Las Vegas | $1,873 |
| 8 | Henderson | $1,749 |
| 9 | Boulder City | $1,541 |
| 10 | Pahrump | $1,364 |
| 11 | Sparks | $1,317 |
| 12 | Mesquite | $1,311 |
| 13 | Sun Valley | $1,305 |
| 14 | Reno | $1,244 |
| 15 | Spanish Springs | $1,216 |
| 16 | Carson City | $1,170 |
| 17 | Fernley | $1,115 |
| 18 | Dayton | $1,108 |
| 19 | Gardnerville Ranchos | $1,104 |
| 20 | Spring Creek | $1,081 |
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Price information shown is estimated as vehicle location can alter auto insurance rates noticeably.
Accidents and violations increase rates
The recommended way to enjoy cheap auto insurance rates in Henderson for high risk drivers is to be a good driver and avoid accidents and traffic citations. The example below shows how traffic citations and at-fault collisions influence annual premium costs for different age groups. The information is based on a single female driver, comp and collision included, $500 deductibles, and no discounts are applied.
In the prior example, the average cost of an auto insurance policy in Henderson per year with no accidents or violations is $1,846. Factor in one speeding ticket and the average cost swells to $2,095, an increase of $248 each year. Then throw in one accident along with the one speeding ticket and the 12-month cost of auto insurance for high risk drivers jumps again to an average of $2,792. That’s an increase of $946, or $79 per month, just for not driving attentively!
Should you buy full coverage?
Paying less for auto insurance is the goal of the majority of people, and an effective way to save on the cost of insurance for high risk drivers is to buy only liability coverage. The illustration below visualizes the comparison of yearly insurance costs with full physical damage coverage and with liability coverage only. The premium estimates are based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no discounts are taken into consideration.
If the expense is averaged for all age categories, comprehensive and collision coverage on your policy costs an additional $1,969 per year more than buying just liability insurance. That amount may make you wonder when is the right time to remove full coverage. There is no clear-cut rule to delete physical damage coverage, but there is a broad guideline. If the annual cost of coverage is 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
The importance of shopping around
Nevada auto insurance rates are determined by lots of factors that can increase the policy premium. Improving your credit rating, buying a different vehicle, or having an accident can cause premium changes that can now make some companies affordable when they were higher priced. Not only may your risk profile change, but insurers change prices every year in order to maintain liquidity for claims. An unexpected high level of claims can cause more expensive prices, while a better loss history can cause lower-priced Henderson car insurance rates.
To help illustrate this point, the graph below shows which companies have the cheapest car insurance in Henderson, NV for a 40-year-old male driver with no accidents or violations, and solid credit. When quoting prices based on his current risk profile, Allied may offer the cheapest car insurance rates in Henderson at $1,483 each year. This is $91 less than the average policy premium paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and American Family are the remaining cheapest Henderson, NV auto insurance companies.
The chart below compares rates after we give the driver from the first set of rates a claim surcharge, bad credit, and a few blemishes on his driving record. Because every insurance company uses their own method to set policy rates, comparing prices could now result in a substantially altered list of the cheapest Henderson car insurance companies as shown below.
Progressive now has the cheapest auto insurance in Henderson, NV with Travelers, Nationwide, USAA, and Safeco also having competitive pricing. This illustrates why it is important to compare lots of rates to get the most economical insurance rates for high risk drivers.
Car insurance prices consist of many factors and can decrease or increase without notice, so the cheapest option when you last compared rates may now be quite expensive.