The words “cheap” and “insurance” really should not be used together, specifically when trying to find the best price on coverage for welfare recipients. In an attempt to save some money, let’s teach you some of the factors that have an impact on insurance rates, and find a few ways to take the sting out of your next policy.
One of the more important criteria that aid in calculating the price you pay for insurance is your zip code in Henderson. Areas with increased crime or more people are more likely to pay higher prices, whereas areas with less people or fewer weather incidents receive better rates.
The next table ranks the most expensive areas in Nevada for welfare recipients to purchase car insurance in. Henderson comes in at #8 with a yearly premium of $1,715 for the average policy, which is approximately $143 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Winchester | $2,158 |
| 2 | Spring Valley | $2,060 |
| 3 | Sunrise Manor | $2,008 |
| 4 | Paradise | $2,001 |
| 5 | Enterprise | $1,908 |
| 6 | Las Vegas | $1,873 |
| 7 | North Las Vegas | $1,844 |
| 8 | Henderson | $1,715 |
| 9 | Boulder City | $1,557 |
| 10 | Mesquite | $1,365 |
| 11 | Pahrump | $1,337 |
| 12 | Sun Valley | $1,305 |
| 13 | Reno | $1,282 |
| 14 | Sparks | $1,278 |
| 15 | Spanish Springs | $1,229 |
| 16 | Dayton | $1,141 |
| 17 | Carson City | $1,136 |
| 18 | Gardnerville Ranchos | $1,116 |
| 19 | Fernley | $1,115 |
| 20 | Spring Creek | $1,114 |
| Find Cheaper Rates Go | ||
Annual rates are comparative as specific Henderson garaging address can decrease or increase auto insurance rates noticeably.
Deciding which companies offer the best insurance rates for welfare recipients requires a little more sweat in order to find the best policy.
Each company has their own unique process to set policy rates, so we will examine the most affordable insurance companies in Nevada.
Best Auto Insurance Prices in Nevada
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $903 |
| 2 | Allied | $911 |
| 3 | Capital | $978 |
| 4 | Oregon Mutual | $1,158 |
| 5 | American Family | $1,182 |
| 6 | Progressive | $1,190 |
| 7 | GEICO | $1,232 |
| 8 | Nationwide | $1,282 |
| 9 | USAA | $1,284 |
| 10 | Safeco | $1,320 |
| 11 | Farmers | $1,482 |
| 12 | Country | $1,602 |
| 13 | MetLife | $1,615 |
| 14 | State Farm | $1,698 |
| 15 | Mercury | $1,771 |
| 16 | Victoria | $2,073 |
| 17 | Liberty Mutual | $2,227 |
| 18 | Bristol West | $2,336 |
| 19 | Allstate | $2,385 |
| 20 | Encompass | $2,604 |
| Quote Your Rates Go | ||
Travelers may offer some of the best car insurance rates in Henderson at around $903 each year. Allied, Capital, Oregon Mutual, and American Family also qualify as some of the lowest-priced Henderson, NV car insurance companies.
In the rate table above, if you currently have coverage with Oregon Mutual and switched to Allied, you may realize yearly savings of upwards of $247. Insureds with American Family may save as much as $271 a year, and Progressive policyholders might see rate reductions of $279 a year.
If you want to see how much you could save, click here to start your free quote or click several companies below for low rates.
Understand that those premium estimates are averages across all types of drivers and the different vehicles they drive and and are not calculated with a vehicle location for welfare recipients. So the car insurance company that can offer you the lowest price may not even be in the list above. That’s why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
Impact of speeding/accidents on Henderson insurance rates
A great way to enjoy affordable insurance prices for drivers on welfare is to drive safely and maintain a clean driving record. The example below illustrates how speeding tickets and at-fault accidents can influence insurance prices for different age categories. The information is based on a married female driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
In the previous example, the average cost of auto insurance in Henderson per year with no accidents and a clean driving record is $1,384. Get written up for two speeding tickets and the average cost rises to $1,970, an increase of $586 each year. Next add two accidents along with the two speeding tickets and the yearly cost of insurance for welfare recipients jumps again to an average of $4,033. That’s an increase of $2,649, or $221 per month, just for being a little careless behind the wheel!
Get discount Henderson car insurance
Car insurance companies that offer quotes for welfare recipients could also offer rate discounts that could potentially reduce rates by 25% or more if you meet specific criteria. A few of the larger companies and a selection of discounts are included below.
- Progressive has discounts for multi-policy, online signing, continuous coverage, homeowner, and good student.
- GEICO policyholders can earn discounts including multi-vehicle, driver training, defensive driver, anti-lock brakes, military active duty, anti-theft, and good student.
- State Farm offers discounts including good student, multiple autos, Steer Clear safe driver discount, accident-free, student away at school, defensive driving training, and passive restraint.
- Esurance may offer discounts for DriveSense, online quote, anti-lock brakes, online shopper, and paid-in-full.
- The Hartford offers premium reductions for air bag, bundle, good student, driver training, defensive driver, vehicle fuel type, and anti-theft.
The example below shows the comparison of car insurance costs with and without discounts applied to the rates. The premiums are based on a male driver, no violations or accidents, Nevada state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with passive restraint, anti-theft, multiple policy, homeowner, multiple vehicle, and safe-driver discounts applied. When drivers qualify for the discounts, the average amount saved each year on insurance for welfare recipients is 27% or $446.
Full coverage rates compared to liability only
Finding the cheapest insurance is the goal of most drivers, and one of the best ways to find cheap insurance for welfare recipients is to buy liability only. The example below compares insurance rates when comparing full coverage to liability only. The premium estimates are based on a clean driving record, no claims, $100 deductibles, drivers are not married, and no policy discounts are applied.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs an extra $1,969 per year over and above liability only. At some point, about every driver wonders if paying for full coverage is worth it. There is no written rule to stop paying for full coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $8,000 after the policy deductible has been paid. If you are paying in excess of $800 a year for your policy with full coverage, then you may want to consider only buying liability coverage.
There are some conditions where only buying liability is not in your best interest. If you still owe money on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
Your cheap policy may actually be overpriced
Henderson insurance rates are impacted by many things that will increase or decrease the price you have to pay for coverage. Simply having a birthday, buying another vehicle, or getting caught speeding can trigger changes in premium that can now make some companies much cheaper than others.
In addition, companies file new Nevada auto insurance rates as often as every three months to adjust for heavy claims or excess profits. Significantly higher claims can result in rate hikes, while better underwriting may cause more affordable Henderson car insurance rates.
For example, the chart below analyzes the cheapest car insurance in Henderson, NV for a 45-year-old female driver with a good driving record, no prior claims, and a decent credit rating. If we compare prices based on her current risk profile, Travelers might quote the most affordable car insurance rates in Henderson at $1,454 each year. This is $120 less than the average price paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive are the remaining most affordable Henderson, NV auto insurance companies.
In this next rate comparison, we will give the driver in the first example an accident surcharge, slightly worse credit, and a few traffic violations. Because each company has a unique formula to determine rates, getting updated rate quotes may now show a different set of cheap Henderson auto insurance companies as shown below.
GEICO now has the cheapest rate in Henderson with Nationwide, Safeco, USAA, and Capital now being in the top five. This example illustrates why Nevada drivers need to perform an extensive rate comparison to get cheap auto insurance quotes for welfare recipients. Insurance rates are impacted by many things and change substantially, so the cheapest company the last time you compared rates may now be quite expensive.