Wouldn’t life be great if we could tell you instantly the one best company that has the best rates for 18 year olds? Unfortunately, it’s just not that easy, as there are a whole bunch of unknown elements like if you have any driving citations, whether you are female or male, and your credit score, that all influence how much you pay for auto insurance. We know insurance is not everyone’s favorite topic, but in this article we will cover the best ways to maintain low rates and will hopefully give you a good beginning to your quest for cheaper car insurance in Nevada.
For teen drivers, one of the big criteria that help determine the annual cost of car insurance is where your car is garaged. More populated areas are more likely to have higher rates, whereas areas that tend to be more rural have the luxury of lower rates.
The illustration below rates the most costly cities in Nevada for 18 year olds to purchase a policy in. Henderson makes the list at #8 with a yearly premium of $1,749 for coverage, which is about $146 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Winchester | $2,180 |
| 2 | Sunrise Manor | $2,090 |
| 3 | Paradise | $2,001 |
| 4 | Spring Valley | $2,000 |
| 5 | Las Vegas | $1,892 |
| 6 | Enterprise | $1,870 |
| 7 | North Las Vegas | $1,844 |
| 8 | Henderson | $1,749 |
| 9 | Boulder City | $1,541 |
| 10 | Pahrump | $1,337 |
| 11 | Mesquite | $1,325 |
| 12 | Sun Valley | $1,305 |
| 13 | Reno | $1,294 |
| 14 | Sparks | $1,265 |
| 15 | Spanish Springs | $1,253 |
| 16 | Carson City | $1,170 |
| 17 | Fernley | $1,149 |
| 18 | Dayton | $1,141 |
| 19 | Elko | $1,125 |
| 20 | Gardnerville Ranchos | $1,116 |
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Premium costs are comparative as specific location information can influence auto insurance rates considerably.
The make and model of vehicle you are trying to insure is one of the largest considerations when comparing the best auto insurance for 18 year olds. Vehicles with economical engines, an excellent safety record, or a track record of few liability claims will cost significantly less to insure than high performance models.
The data below ranks auto insurance prices for a handful of the most economical automobiles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 4WD | $7,168 |
| Hyundai Elantra SE Touring Station Wagon | $7,641 |
| Ford Escape Limited 4WD | $7,646 |
| Toyota Prius | $7,721 |
| Ford F-150 STX Super Cab 2WD | $7,855 |
| Ford Explorer Eddie Bauer 2WD | $7,936 |
| Honda Odyssey EX | $8,328 |
| Ford Edge SE AWD | $8,334 |
| Chevrolet Impala LS | $8,328 |
| Ford Focus SE 4-Dr Sedan | $8,334 |
| Toyota Tacoma Double Cab 4WD | $8,409 |
| Toyota RAV4 2WD | $8,419 |
| GMC Sierra SLE Crew Cab 2WD | $8,409 |
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Price data assumes single male driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can revise price quotes greatly.
Based upon these rates, you can assume that models like the Honda CR-V, Hyundai Elantra, Ford Escape, and Toyota Prius are most likely to be a few of the most affordable vehicles to insure for teen drivers. The price for car insurance will be more expensive because of the fact that there is a higher risk for 18 year olds, but overall those specific models will have the lowest prices compared to all other vehicles.
Choosing a high-quality car insurance company is hard considering how many choices there are in Henderson. The company ratings in the lists below may help you analyze which insurers you want to consider when comparing rate quotes.
The rankings below include the largest companies in the United States, so companies without a large exposure are not taken into consideration for the list. To compare price quotes from these top insurers and more, click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
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Data Source: Insure.com Best Car Insurance Companies
Types of discounts on Henderson auto insurance
Insurance companies that provide policies for 18 year olds may additionally offer price discounts that could reduce prices by 40% or more if you can meet the requirements. Large insurance companies and a summarized list of policyholder discounts are included below.
- GEICO may have discounts that include anti-theft, seat belt use, defensive driver, military active duty, emergency military deployment, anti-lock brakes, and good student.
- Travelers policyholders can earn discounts including continuous insurance, payment discounts, hybrid/electric vehicle, multi-policy, and good student.
- Farm Bureau discounts include youthful driver, renewal discount, 55 and retired, good student, and multi-vehicle.
- Liberty Mutual offers premium reductions for new graduate, teen driver discount, safety features, newly retired, hybrid vehicle, and newly married.
- American Family offers discounts including accident-free, bundled insurance, early bird, air bags, and good student.
- Progressive has savings for multi-vehicle, continuous coverage, online quote discount, online signing, and good student.
The diagram below illustrates the difference between auto insurance rates with and without discounts applied. The rates are based on a male driver, no violations or accidents, Nevada state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with good student, paid-in-full, vehicle safety, anti-theft, continuous coverage, and paperless filing discounts applied. When drivers take advantage of discounts, theaverage amount saved on insurance for 18 year olds is 28% or $608.
Difference between liability only and full coverage rates
Finding the cheapest insurance is the goal of the majority of vehicle owners, and an effective way to buy cheap insurance for 18 year olds is to not buy comprehensive and collision coverage. The diagram below visualizes the comparison of auto insurance costs with full physical damage coverage and with liability coverage only. The price estimates are based on no violations or accidents, $500 deductibles, drivers are not married, and no additional discounts are factored in.
If the expense is averaged for all age categories, physical damage insurance costs $1,455 per year more than buying just liability insurance. That is a big expense that brings up the question if paying for full coverage is a waste of money. There is no exact formula to stop buying 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 replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let’s say your vehicle’s replacement cost is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $7,000 after paying the physical damage deductible. If it’s costing in excess of $700 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are some conditions where only buying liability is not recommended. If you haven’t paid off your loan, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should maintain full coverage.