Who Has the Cheapest Car Insurance for Young Drivers in Henderson?

You have seen the catchy commercials from insurers like GEICO, Farmers, and Liberty Mutual claiming the cheapest price. So you just need to choose one randomly, right?

Unfortunately, it’s not that simple as there are a whole bunch of unknown aspects like whether you just need liability insurance, the vehicle you are insuring, where you live in Henderson, and how well you maintain your credit, that all go into determining the rate you pay. We will touch on some of these criteria and will hopefully give the reader a good beginning to your quest for cheaper car insurance in Nevada.

The car, truck, or SUV that needs insurance is a significant factor when shopping around for cheaper car insurance for young drivers. Vehicles with lots of speed or power, poor safety ratings, or a history of substantial liability claims will cost more to insure than more modest models.

The information below outlines coverage prices for a handful of the more affordable automobiles to buy insurance for.

Cheapest Vehicles to Insure in Henderson, NV
Make, Model, and Trim Level Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $8,593
Ford Escape XLT 4WD $8,675
Honda CR-V EX-L 2WD $8,681
Toyota Prius $9,284
Ford Explorer XLT 4WD $9,667
Jeep Wrangler Sahara 4WD 2-Dr $9,672
Ford F-150 XLT Crew Cab 2WD $9,667
Toyota Tacoma 4WD $9,673
Dodge Grand Caravan CV $9,667
Chevrolet Impala LS $10,113
Ford Edge Limited 2WD $10,118
Chevrolet Equinox LT AWD $10,195
Jeep Grand Cherokee Laredo 2WD $10,201
Chevrolet Malibu Hybrid $10,195
Toyota RAV4 4WD $10,205
Ford F-350 XL Super Cab 2WD $10,358
Toyota Corolla XLE $10,722
Honda Odyssey EX-L $10,728
Nissan Altima 3.5 SR 4-Dr Sedan $10,804
GMC Sierra SLE Crew Cab 2WD $10,812
Volkswagen Jetta SE 4-Dr Sedan $10,804
Kia Optima LX $11,052
Nissan Rogue SL 2WD $11,057
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Data based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate quotes do not factor in vehicle garaging location which can revise premium rates greatly.

Looking at the numbers, you can expect models like the Hyundai Elantra, Ford Escape, and Honda CR-V are most likely to be the most economical vehicles to insure for youthful drivers. Car insurance rates will be higher anyway just due to the fact that there is more risk for young drivers, but generally speaking those particular models will have the best rates compared to other vehicles.

Deciphering which companies have the cheapest insurance rates for young drivers requires a little more work in order to find the lowest price. Each insurer uses their own method to set their prices, so we’ll take a look at the most competitive insurance companies in Henderson.

We do need to point out that Henderson, NV insurance rates are calculated based on many things that control the price you pay. Simply improving your credit, buying another vehicle, or having a fender bender can trigger changes in premium that can make some companies cheaper than competitors.

Cheap Insurance Rates for Teens

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Who has the cheapest car insurance in Nevada?
Rank Company Cost Per Year
1 Travelers $903
2 Allied $921
3 Capital $1,018
4 Oregon Mutual $1,147
5 Progressive $1,190
6 American Family $1,218
7 GEICO $1,219
8 USAA $1,284
9 Nationwide $1,295
10 Safeco $1,306
11 Farmers $1,452
12 MetLife $1,631
13 Country $1,668
14 State Farm $1,681
15 Mercury $1,771
16 Victoria $2,093
17 Liberty Mutual $2,249
18 Bristol West $2,313
19 Allstate $2,337
20 Encompass $2,710
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Travelers may have some of the most affordable car insurance rates in Henderson at around $903 a year. Allied, Capital, Oregon Mutual, and Progressive are also some of the more affordable Henderson, NV auto insurance companies.

As shown in the table above, if you buy coverage from Capital and switched to Travelers, you might achieve a yearly price reduction of in the neighborhood of $115. Insureds with Oregon Mutual may save as much as $244 a year, and Progressive insureds might reduce rates by $287 a year.

Understand that those premiums are averages across all drivers and vehicles in Nevada and and are not calculated with an exact vehicle garaging location for young drivers. So the auto insurance company that has the lowest price for you may not even be in the top 20 companies shown above. That underscores the importance of why you need to get rate quotes using your own specific driver and vehicle information.

One of the more important things that help determine the cost of insurance is where you keep your car. Regions with more people or even just more weather-related claims tend to have more expensive auto insurance rates, whereas areas that tend to be more rural benefit from lower coverage costs.

The next table rates the most expensive areas in Nevada for young drivers to purchase auto insurance in. Henderson ranks #8 with an annual rate of $1,697 for coverage, which is approximately $141 each month.

Car insurance prices in Henderson
Rank City Premium Per Year
1 Winchester $2,094
2 Sunrise Manor $2,090
3 Spring Valley $2,040
4 Paradise $1,981
5 Las Vegas $1,930
6 Enterprise $1,927
7 North Las Vegas $1,844
8 Henderson $1,697
9 Boulder City $1,495
10 Mesquite $1,365
11 Pahrump $1,337
12 Sparks $1,317
13 Sun Valley $1,266
14 Reno $1,256
15 Spanish Springs $1,229
16 Carson City $1,170
17 Fernley $1,149
18 Dayton $1,130
19 Gardnerville Ranchos $1,116
20 Fallon $1,097
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Rates are estimated as the vehicle garaging location can decrease or increase rates significantly.

The chart below demonstrates how deductibles can impact insurance rates when researching cheap insurance for young drivers. The rates are based on a married female driver, full physical damage coverage, and no discounts are applied.

As shown above, a 30-year-old driver could save $244 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $370 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, could drop their prices up to $522 every year by using a higher deductible. When raising deductibles, it is important to have additional funds squirreled away to enable you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.

How accidents and tickets impact rates

The best way to maintain cheap insurance prices in Nevada for youthful drivers is to drive cautiously and have a clean driving record. The example below illustrates how traffic citations and at-fault accidents can impact insurance premiums for each age group. The rates are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.

In the previous chart, the average cost of auto insurance in Henderson per year with no accidents and a clean driving record is $1,487. Get written up for two speeding tickets and the average cost swells to $2,043, an increase of $556 each year. Now include one accident along with the two speeding tickets and the annual cost of insurance for young drivers increases to an average of $2,612. That’s an increase of $1,124, or $94 per month, just for not being more responsible behind the wheel!

Full coverage or liability only

Saving on insurance should be important to most drivers, and one great way to pay lower rates for insurance for young drivers is to not buy comprehensive and collision coverage. The illustration below shows the comparison of insurance prices when comparing full coverage to liability only. The costs are based on no violations or claims, $250 deductibles, single status, and no other discounts are factored in.

Averaged for all age groups, physical damage coverage costs $1,621 per year more than carrying just liability coverage. Many of you may wonder if you should buy full coverage. There is no set guideline to drop comp and collision coverage, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your vehicle’s replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $2,000 after paying your deductible. If premium cost is more than $200 a year to have full coverage, then you might want to think about dropping full coverage.

There are some circumstances where buying only liability insurance is not advised. If you still owe money on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

Don’t make the mistake of not shopping around

Henderson, NV insurance rates are influenced by many factors that can increase the cost of a policy. Improving your credit rating, buying a different vehicle, or getting caught speeding can trigger price changes that can now make some companies cheaper than competitors. Additionally, car insurance companies change prices every year or even multiple times each year in order to remain profitable. Heavier than normal losses may cause increased policy costs, while long-term profits can result in cheaper Henderson car insurance rates.

To illustrate this example, the graph below shows the companies that have the cheapest car insurance in Henderson, NV for a 35-year-old female driver with no accidents or violations, and great credit. If we estimate prices based on her personal profile, Travelers has the lowest car insurance rates in Henderson at $1,475 each year. This is $99 less than the average price 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.

Now we will pretend the driver from the first set of rates a couple of claims, slightly worse credit, and a blemish on her driving record. Since each auto insurance company has a proprietary method to determine rates, analyzing rates may now show a substantially altered list of companies as shown below.

Progressive now has the cheapest insurance rate in Henderson with Allied, USAA, Nationwide, and Capital completing the list. This example shows why Henderson drivers need to shop around with many companies when trying to get cheap auto insurance quotes for young drivers. Insurance prices can be determined by many things and change dramatically, so the lowest-price company two years ago may now cost much more than other companies.