Who Has the Cheapest Auto Insurance Rates for Used Cars in Henderson?

Wouldn’t it be so easy if we could tell you instantly the one company that has the cheapest policy rates for used cars? Unfortunately, it’s not that simple as there are a ton of unknown factors such as if you are married, what deductibles to use for physical damage coverage, and whether you are male or female. We will touch on the best ways to save on auto insurance and will hopefully give you a good beginning to your search for cheaper coverage.

For pre-owned vehicles, one of the largest components that are looked at to help calculate the amount you pay each year for auto insurance is where you live in Henderson. Areas with more people or more claims tend to have higher auto insurance costs, whereas areas with less congestion benefit from lower coverage costs.

The illustration below sorts the most costly cities in Nevada for used cars to purchase auto insurance in. Henderson ranks #8 with the yearly price of $1,767 for the average insured, which is approximately $147 each month.

How much does car insurance cost in Henderson, NV?
Rank City Premium Per Year
1 Winchester $2,094
2 Sunrise Manor $2,069
3 Paradise $2,041
4 Spring Valley $2,040
5 Enterprise $1,908
6 North Las Vegas $1,900
7 Las Vegas $1,873
8 Henderson $1,767
9 Boulder City $1,511
10 Mesquite $1,365
11 Pahrump $1,337
12 Sun Valley $1,292
13 Reno $1,282
14 Sparks $1,278
15 Spanish Springs $1,229
16 Gardnerville Ranchos $1,150
17 Dayton $1,130
18 Spring Creek $1,125
19 Carson City $1,124
20 Fernley $1,115
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Rate information is estimated as specific Henderson garaging address can alter rates substantially.

The vehicle to be insured is one of the main factors that determines whether or not you find low-priced insurance for used cars. Vehicles with average performance, good crash test ratings, or a low likelihood of liability claims will cost much less to insure than adrenaline junky models.

The table below estimates car insurance costs for a number of the most budget-friendly vehicles to insure in Nevada.

Cheapest Vehicles to Insure in Henderson, NV
Vehicle Insured Estimated Cost for Full Coverage
Ford Escape XLT 4WD $2,047
Toyota Prius $2,219
Jeep Wrangler Rubicon 4WD 2-Dr $2,242
Honda CR-V EX-L 2WD $2,247
Ford Edge SEL 2WD $2,325
Chevrolet Equinox LT AWD $2,369
Toyota Tacoma Double Cab 4WD $2,414
Toyota Camry SE $2,497
Ford Fusion SE 4-Dr Sedan $2,541
Chevrolet Silverado LS Crew Cab 4WD $2,546
Ford Focus SE 4-Dr Sedan $2,545
Honda Odyssey EX W/Rear Entertainment $2,553
Ford Explorer XLT 2WD $2,545
Jeep Grand Cherokee Laredo 2WD $2,596
Volkswagen Jetta SE 2.5 Station Wagon $2,631
Ford F-150 Lariat Super Cab 4WD $2,647
Toyota RAV4 Sport 2WD $2,669
Dodge Ram 2500 Crew Cab ST 2WD $2,710
Chevrolet Silverado 2500HD LTZ Crew Cab Diesel 4WD $2,717
Dodge Grand Caravan Crew $2,730
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Rate information does not factor in specific garaging location which can revise premium rates noticeably.

Looking at the data, we can conclude that makes and models like the Ford Escape, Toyota Prius, and Jeep Wrangler are likely to be a few of the cheapest vehicles to insure for pre-owned vehicles.

Tickets and at-fault accidents raise rates

In a perfect world, the ideal way to get cheap car insurance rates in Nevada for pre-owned vehicles is to drive cautiously and avoid at-fault accidents and violations. The information below shows how traffic citations and at-fault claims impact annual premium costs for each different age category. The premium estimates are based on a married male driver, full coverage, $250 deductibles, and no discounts are taken into consideration.

In the previous example, the average cost of car insurance per year with no violations or accidents is $1,384. Factor in two speeding tickets and the average cost jumps to $1,911, an increase of $527 each year. Now get two accidents along with the two speeding tickets and the yearly cost of car insurance for used cars increases to an average of $3,847. That’s an increase of $2,462, or $205 per month, just for not driving attentively!

Liability rates compared to full coverage

Finding the cheapest car insurance is important to the majority of vehicle owners, and one of the best ways to find cheap insurance for used cars is to only buy liability insurance. The chart below shows the comparison of yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Nevada. Data assumes no accidents, no driving violations, $1,000 deductibles, drivers are single, and no discounts are factored in.

As an overall average, comp and collision coverage costs an extra $1,297 per year over liability only. That touches on the question if you should buy full coverage at all. There is no definitive guideline for eliminating comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your vehicle’s claim settlement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $7,000 after paying the physical damage deductible. If you are currently paying more than $700 annually for full coverage, then you may want to consider only buying liability coverage.

There are some situations where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.

Your low-price policy may be costing you money

Henderson, NV car insurance rates are influenced by many factors that may substantially change the policy premium. Simply turning a year older, adding a teenager to your policy, or having an accident may cause policy rate changes that can make some companies more affordable than others.

In addition to those changes, auto insurance companies amend pricing as needed in order to offset underwriting gains or losses. A period of increased losses may cause higher rates, while better underwriting can result in cheaper Henderson car insurance rates.

To illustrate this example, the chart below shows which company has the cheapest car insurance in Henderson, NV for a 35-year-old male driver with a good driving record, no prior claims, and good financial standing. If we compare prices based on his personal risk profile, Travelers quotes the best car insurance rates in Henderson at $1,483 each year. This is $91 less than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family also make the list of the cheapest Henderson, NV auto insurance companies.

In the next rate comparison, we’ll give the driver from the first set of rates a claim surcharge, less-than-perfect credit, and a stop sign violation. Because each company has their own unique process to establish rates, getting updated rate quotes could now result in a substantially altered list of the cheapest Henderson car insurance companies as shown below.

Progressive now has the lowest car insurance rate in Henderson, NV with USAA, Safeco, Nationwide, and Allied also having competitive pricing. This demonstrates why it is crucial to compare as many rates as possible to find the most affordable car insurance quotes for used cars.

Insurance rates can be altered by many risk factors and change dramatically, so the most affordable company the last time you compared rates may now cost much more than other companies.