You have most likely watched the ads from companies like Allstate, State Farm, and Nationwide promising big savings, so you should just pick the one with the catchiest commercial, right?
It’s not quite that easy, unfortunately, as there are a whole slew of unknown factors like your financial responsibility, if you have any tickets or accidents, and if you are a man or woman, that help determine the price you have to pay. This article delves into these things and will hopefully give you a good beginning to your quest for cheaper car insurance in Henderson.
The vehicle that needs insurance is a large consideration that determines if you can find the best cheap insurance for teenagers. Vehicles with high performance features, poor safety features, or a high likelihood of having liability claims will cost more to insure than safer models. The next table ranks coverage rates for a selection of the most affordable vehicles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $8,237 |
| Honda CR-V EX-L 4WD | $8,324 |
| Hyundai Elantra SE Touring Station Wagon | $8,862 |
| Ford Escape Limited 4WD | $8,867 |
| Toyota Prius | $8,949 |
| Ford F-150 STX Super Cab 2WD | $9,152 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $9,239 |
| Dodge Grand Caravan CV | $9,244 |
| Honda Odyssey EX | $9,690 |
| Ford Edge Limited 2WD | $9,696 |
| Chevrolet Malibu Hybrid | $9,777 |
| Toyota RAV4 Limited 4WD | $9,786 |
| Chevrolet Equinox LT 2WD | $9,777 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $9,864 |
| Ford Explorer Eddie Bauer AWD | $9,870 |
| Ford Focus SES 4-Dr Sedan | $10,228 |
| Chevrolet Impala LTZ | $10,315 |
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Data rating is based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in specific location information which can change price quotes greatly.
Looking at the numbers, you can conclude that models like the Honda Accord, Honda CR-V, and Hyundai Elantra are a few of the most affordable vehicles to insure for teen drivers. The price for an auto insurance policy will be more costly because there is more exposure for teenagers, but overall those vehicles will have the lowest prices possible.
One of the many considerations that aid in calculating insurance cost is where you call home in Henderson. Areas with increased crime or more people tend to have higher auto insurance costs, whereas less populated areas tend to receive cheaper rates.
The illustration below rates the most expensive cities in Nevada for teenagers to buy car insurance in. Henderson makes the list at #8 having an annual price of $1,749 for the average insurance policy, which is approximately $146 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Winchester | $2,116 |
| 2 | Spring Valley | $2,060 |
| 3 | Paradise | $2,041 |
| 4 | Sunrise Manor | $2,008 |
| 5 | North Las Vegas | $1,900 |
| 6 | Las Vegas | $1,873 |
| 7 | Enterprise | $1,851 |
| 8 | Henderson | $1,749 |
| 9 | Boulder City | $1,511 |
| 10 | Pahrump | $1,364 |
| 11 | Mesquite | $1,325 |
| 12 | Sparks | $1,317 |
| 13 | Reno | $1,282 |
| 14 | Sun Valley | $1,266 |
| 15 | Spanish Springs | $1,253 |
| 16 | Dayton | $1,141 |
| 17 | Carson City | $1,136 |
| 18 | Fernley | $1,115 |
| 19 | Gardnerville Ranchos | $1,104 |
| 20 | Spring Creek | $1,092 |
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Premium amounts are approximated as the specific zip code location can increase or decrease premium rates noticeably.
How to get discounts on Henderson insurance rates
Insurance companies that provide policies for teenagers may also give you special discounts that can reduce rates by as much as 40% or more if you qualify. The best insurance companies and some of the premium reductions they offer can be read below.
- Travelers offers discounts including student away at school, home ownership, early quote, continuous insurance, and good student.
- 21st Century may offer discounts for driver training, air bags, teen driver, student driver, and defensive driver.
- State Farm may include discounts for Steer Clear safe driver discount, multiple policy, defensive driving training, Drive Safe & Save, driver’s education, accident-free, and student away at school.
- GEICO policyholders can earn discounts including air bags, anti-theft, membership and employees, multi-policy, and five-year accident-free.
- SAFECO discounts include multi-car, anti-lock brakes, anti-theft, drive less, bundle discounts, and safe driver.
- AAA offers discounts for education and occupation, multi-car, pay-in-full, anti-theft, good student, good driver, and multi-policy.
The information below shows the comparison of car insurance rates with and without discounts applied to the premium. The rate quotes are based on a female driver, no accidents, no driving violations, 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 paperless filing, passive restraint, good student, anti-theft, paid-in-full, and vehicle safety discounts applied. When drivers qualify for the discounts, theaverage amount saved on insurance for teenagers is 28% or $729.
The diagram below illustrates how your choice of deductibles can increase or decrease insurance prices when trying to find cheap insurance for teenagers. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
In the chart above, a 50-year-old driver could pocket $210 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $318 by switching to a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could reduce their rates $522 annually just by using higher deductibles.
When choosing a higher deductible, it will be important to have enough savings set aside to enable you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Full coverage rates compared to liability-only
Finding the cheapest insurance is the goal of the majority of drivers, and one good way to buy cheaper insurance for teenagers is to only pay for liability coverage. The example below shows the difference between auto insurance rates when comparing full coverage to liability only. The rates are based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no policy discounts are applied.
If the expense is averaged for all age categories, physical damage coverage on your policy costs $2,368 per year over liability only. That brings up the question when is it a good idea to stop buying full coverage. There is no exact formula for phasing out comp and collision coverage, but there is a broad guideline. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s say your vehicle’s claim settlement value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $3,500 after you pay the deductible. If premiums are more than $350 annually for physical damage coverage, then it could be time to drop full coverage.
There are some situations where eliminating full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not remove full coverage.
If you aren’t sure which coverage to buy and prefer to have the advice of a professional agent when shopping for the best coverage for teenagers, the agents below are willing to help you decide which is the best policy. To find a Henderson insurance agency closest to you, click the link after the list or click here to compare prices now.
- American Family Insurance – Sean Stewart Agency Inc.
2520 St Rose Pkwy #103 – Henderson, NV 89074 – (702) 479-1570 - Martha Pailes – State Farm Insurance Agent
613 N Stephanie St – Henderson, NV 89014 – (702) 451-0123 - Sam King – State Farm Insurance Agent
2253 N Green Valley Pkwy – Henderson, NV 89014 – (702) 435-0222 - Farmers Insurance – Julia Clarke Spataro
2298 W Horizon Ridge Pkwy #104 – Henderson, NV 89052 – (702) 897-0000 - Allstate Insurance: Kevin Walker
55 S Gibson Rd #106 – Henderson, NV 89012 – (702) 938-5050
More insurance agents in Henderson, NV
How to find economical insurance for teenagers
Below you’ll find some of the better thrifty solutions that can help you quote cheaper coverage.
- Be a cautious driver
- Do not waste money insuring older vehicles for full coverage
- Safer vehicles cost less to insure
- Avoid accidents and claims
- Increase your deductibles
- Drivers with good credit often pay less
- Compare rates once a year for cheaper prices
That last piece of advice is particularly important, as we noted in this article. Auto insurance prices in Henderson fluctuate constantly, so you should be ready to buy from a new company if a lower price can be found. Many drivers have brand loyalty and that’s fine, but it’s not a great idea if that loyalty results in overpaying big bucks every year. Now is a great time to compare prices and find cheaper insurance for teenagers.