The words “low-priced” and “auto insurance” really shouldn’t be used together, specifically when you are trying to find the cheapest coverage for drivers under 21. In an attempt to save some money, let’s start off by going over some situations that determine auto insurance prices, and find a few ways to reduce the price of your next policy.
Deciphering which company offers the most affordable auto insurance rates for drivers under 21 takes a little more work in order to find the most economical policy.
Each company has a different formula to determine rates, so let’s examine the auto insurance companies that tend to have lower prices in Henderson, NV.
Best Cheap Insurance Rates for Minors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $912 |
| 2 | Allied | $921 |
| 3 | Capital | $978 |
| 4 | Oregon Mutual | $1,158 |
| 5 | American Family | $1,230 |
| 6 | Progressive | $1,238 |
| 7 | GEICO | $1,269 |
| 8 | Nationwide | $1,282 |
| 9 | USAA | $1,284 |
| 10 | Safeco | $1,306 |
| 11 | Farmers | $1,482 |
| 12 | MetLife | $1,631 |
| 13 | Country | $1,651 |
| 14 | State Farm | $1,698 |
| 15 | Mercury | $1,771 |
| 16 | Victoria | $2,093 |
| 17 | Liberty Mutual | $2,249 |
| 18 | Allstate | $2,314 |
| 19 | Bristol West | $2,407 |
| 20 | Encompass | $2,684 |
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Travelers may offer some of the cheapest car insurance rates in Henderson at around $912 per year. Allied, Capital, Oregon Mutual, and American Family would also be considered some of the more affordable Henderson, NV insurance companies.
As the rates illustrate above, if you currently buy coverage from Allied and switched to Travelers, you may realize an annual premium reduction of in the neighborhood of $9. Insureds with Capital might save as much as $66 a year, and Oregon Mutual policyholders might reduce rates by $246 a year.
To find out how your current rates compare, click here to start your free quote or quote prices from the following companies.
It’s important to note that these premium estimates are averages for all types of drivers and the different vehicles they drive and do not take into consideration an exact vehicle garaging location for drivers under 21. So the insurer that has the cheapest price for you may not even be in the top 20 companies in the list above. That underscores the importance of why you need to get quotes using your own driver and vehicle profiles.
For minors, one of the big considerations that aid in calculating the price you pay for insurance is where you keep your car in Henderson. More populated areas tend to have higher auto insurance costs, whereas areas that tend to be more rural profit from lower rates.
The table below ranks the highest-priced areas in Nevada for drivers under 21 to buy car insurance in. Henderson makes the list at #8 with a yearly premium of $1,715 for car insurance, which is approximately $143 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Winchester | $2,180 |
| 2 | Sunrise Manor | $2,069 |
| 3 | Spring Valley | $2,060 |
| 4 | Paradise | $2,001 |
| 5 | Las Vegas | $1,949 |
| 6 | North Las Vegas | $1,900 |
| 7 | Enterprise | $1,870 |
| 8 | Henderson | $1,715 |
| 9 | Boulder City | $1,557 |
| 10 | Pahrump | $1,377 |
| 11 | Mesquite | $1,325 |
| 12 | Sparks | $1,278 |
| 13 | Sun Valley | $1,266 |
| 14 | Spanish Springs | $1,266 |
| 15 | Reno | $1,244 |
| 16 | Fernley | $1,149 |
| 17 | Elko | $1,125 |
| 18 | Carson City | $1,124 |
| 19 | Gardnerville Ranchos | $1,116 |
| 20 | Dayton | $1,108 |
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Annual rates are estimated as specific Henderson zip code can lower or raise insurance rates noticeably.
Get discount Henderson auto insurance rates
Insurers that sell policies for drivers under 21 could also offer discounts that can reduce rates by as much as 40% or more if you are eligible to receive them. Large auto insurance companies and the discounts they provide can be found below.
- Progressive has savings for multi-policy, homeowner, continuous coverage, good student, and multi-vehicle.
- SAFECO offers discounts for homeowner, drive less, teen safety rewards, multi-car, anti-theft, accident prevention training, and safe driver.
- American Family may have discounts that include good driver, TimeAway discount, mySafetyValet, multi-vehicle, and accident-free.
- MetLife offers premium reductions for good driver, good student, accident-free, defensive driver, multi-policy, and claim-free.
- GEICO policyholders can earn discounts including federal employee, air bags, good student, driver training, and defensive driver.
- The Hartford includes discounts for driver training, anti-theft, bundle, defensive driver, air bag, and good student.
The diagram below illustrates the difference between premium costs with and without discounts applied to the premium. Data assumes a female driver, no driving violations, no at-fault accidents, Nevada state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with passive restraint, paid-in-full, paperless filing, vehicle safety, continuous coverage, and good student discounts applied. When discounts are applied, the average amount saved each year on auto insurance for drivers under 21 is 28% or $622.
How to find a good Nevada auto insurance company
Choosing the right car insurance provider can be a challenge considering how many companies there are to choose from in Henderson. The company rank data displayed below may help you select which car insurance providers to look at purchasing a policy from.
These ratings include companies that write coverage in many states, so companies that focus mainly on Nevada business will not be included in the list. To compare prices from these and other companies in Nevada, click this link.
Top 10 Major Car Insurance Companies in Henderson Ranked by Customer Service
- GEICO
- State Farm
- The Hartford
- Mercury Insurance
- The General
- Progressive
- Allstate
- AAA Insurance
- American Family
- Nationwide
Top 10 Major Car Insurance Companies in Henderson Ranked by Value
- USAA
- American Family
- The Hartford
- Titan Insurance
- The General
- AAA Insurance
- State Farm
- Mercury Insurance
- Nationwide
- Safeco
The chart below demonstrates how deductibles can increase or decrease insurance prices when searching for cheap insurance for drivers under 21. The data assumes a single female driver, comp and collision included, and no policy discounts are applied.
The data above shows that a 50-year-old driver could reduce rates by $342 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $516 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old, have the ability to save up to $868 every year by choosing larger deductibles on their policy.
When choosing a higher deductible, it will now be necessary to have additional savings on hand to enable you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Why you should compare rates
Henderson auto insurance rates are based on many factors that will increase or decrease your annual premium. Simply having a birthday, buying a home instead of renting, or getting a driving violation can produce rate changes that can make some companies cheaper in comparison to the competition. In addition to those changes, car insurance companies change their prices as often as every quarter to adjust for unexpected claims or profits. Heavier than normal losses can result in increased policy costs, while a better claims history may result in lower-priced Henderson car insurance rates.
For example, the data below demonstrates which company has the cheapest car insurance in Henderson, NV for a 35-year-old female driver with a clear driving record, no claims, and excellent credit. If we look at prices based on her current rating profile, Allied has the lowest car insurance rates in Henderson at $1,446 a year. This is $128 less than the average price paid by Nevada drivers of $1,574. Travelers, Capital, Oregon Mutual, and Progressive also make the list of the cheapest Henderson, NV auto insurance companies.
Let’s now give the driver in the first example an at-fault accident, a little lower credit rating, and a blemish on her driving record. Since each auto insurer has a proprietary formula to determine rates, analyzing rates could now result in a slightly different list of the cheapest companies as shown below.
GEICO now has the cheapest price in Henderson with Travelers, USAA, Nationwide, and Safeco also having competitive pricing. This example demonstrates why it is critical to spend some time comparing rates when trying to find cheap car insurance quotes for drivers under 21.
Auto insurance prices are calculated by many different factors and change substantially, so the cheapest option when you bought your policy may now be costing you a lot of money.