Wouldn’t it be great if we could instantly tell you the exact company that has the cheapest coverage for low income drivers? It’s just not that simple, as there are a whole slew of unknown factors such as where you live, if you have any tickets or accidents, and if you have maintained coverage continuously. In this article, we will cover some of these things and will hopefully give the reader a good start to your coverage search.
One of the more important criteria that are looked at to determine auto insurance rates is where your car is garaged in Henderson. Cities with larger populations or higher claim trends likely pay more, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.
The next table sorts the highest-priced places in Nevada for low income drivers to buy car insurance in. Henderson makes the list at #8 with the annual price of $1,767 for the average insured, which is around $147 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Winchester | $2,094 |
| 2 | Sunrise Manor | $2,069 |
| 3 | Paradise | $2,041 |
| 4 | Spring Valley | $2,040 |
| 5 | Las Vegas | $1,930 |
| 6 | Enterprise | $1,927 |
| 7 | North Las Vegas | $1,882 |
| 8 | Henderson | $1,767 |
| 9 | Boulder City | $1,557 |
| 10 | Pahrump | $1,337 |
| 11 | Mesquite | $1,311 |
| 12 | Sun Valley | $1,305 |
| 13 | Sparks | $1,304 |
| 14 | Reno | $1,294 |
| 15 | Spanish Springs | $1,253 |
| 16 | Carson City | $1,170 |
| 17 | Dayton | $1,141 |
| 18 | Gardnerville Ranchos | $1,116 |
| 19 | Fernley | $1,103 |
| 20 | Fallon | $1,097 |
| Compare Prices Now Go | ||
Premium amounts are approximated as the vehicle garaging location can change rates significantly.
Finding low-priced insurance is not most people’s favorite thing to do, and determining which company has the cheapest insurance rates for low income drivers will take even more perseverance.
Each insurer uses their own formula for setting rates, so first let’s look at the rankings for the overall cheapest insurance companies in Henderson. It’s important that you understand Henderson insurance rates are based on many factors which can significantly increase or decrease the price you have to pay. Things like getting older, moving to a different location, or getting a DUI can produce rate changes that can cause some rates to be more affordable than competitors.
Find the Cheapest Auto Insurance in Nevada
Allied has some of the cheapest car insurance rates in Henderson at around $911 each year. Travelers, Capital, Oregon Mutual, and Progressive would also be considered some of the more affordable Henderson, NV insurance companies.
In the above rates, if you currently have coverage with Capital and switched to Allied, you might see a yearly savings of in the neighborhood of $107. Nevada drivers with Oregon Mutual could save as much as $247 a year, and Progressive policyholders might reduce rates by $279 a year.
If you would like to find cheaper car insurance rates, click here or quote rates from the companies below.
It’s important to note that these premiums are averages across all ages of drivers and types of vehicles and are not factoring in an exact vehicle garaging location for low income drivers. So the auto insurance company that has the cheapest rates for you may not even be in the top 20 companies shown above. That points out the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.
The make and model of vehicle that needs insurance is probably the biggest factor when quoting the cheapest insurance for low income drivers. Vehicles with higher performance, poor safety ratings, or a track record of large liability claims will cost much more to insure than more economical and safe models.
The next list presents coverage premiums for a handful of the most budget-friendly automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Toyota Tacoma 4WD | $2,242 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $2,251 |
| Ford Escape XLS 2WD | $2,261 |
| Honda CR-V EX-L 2WD | $2,321 |
| Ford Focus SE 4-Dr Sedan | $2,325 |
| Volkswagen Jetta 2.0T Station Wagon | $2,347 |
| Ford F-150 Lariat Super Cab 4WD | $2,414 |
| Chevrolet Malibu LT | $2,424 |
| Honda Odyssey EX-L W/Navigation | $2,497 |
| Toyota Prius | $2,506 |
| Kia Optima LX | $2,538 |
| Jeep Grand Cherokee SRT-8 4WD | $2,541 |
| Chevrolet Impala LS | $2,545 |
| Ford Edge SE AWD | $2,608 |
| Dodge Grand Caravan Crew | $2,647 |
| Start a Quote Go | |
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Price information does not factor in Henderson, NV location which can revise coverage prices substantially.
Looking at the rates, we can assume that vehicles like the Toyota Tacoma, Jeep Wrangler, Ford Escape, and Honda CR-V will definitely be the most budget-friendly vehicles to insure for poor drivers.
Full coverage rates vs. liability-only in Henderson
Buying cheaper insurance is the goal of most people, and one of the quickest ways to lower the cost of insurance for low income drivers is to buy only liability coverage. The example below shows the comparison of insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no driving violations, no at-fault accidents, $250 deductibles, single marital status, and no discounts are taken into consideration.
Averaged out for all age groups, comp and collision coverage costs an extra $1,621 per year more than just buying liability only. At some point, every insured wonders if it’s worth it to buy full coverage. There is no clear-cut rule to exclude comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
The chart below highlights how deductible choice can influence annual premium costs when getting quotes for cheap insurance for low income drivers. The rate quotes are based on a single female driver, full physical damage coverage, and no discounts are taken into consideration.
The data above shows that a 40-year-old driver could reduce rates by $244 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $370 by choosing a $1,000 deductible. Young drivers, like the Age 20 chart data, could potentially save $620 or even more by choosing a higher deductible. When using a larger deductible, it will be required to have enough spare savings to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
If you have coverage questions and would like to have the advice of a professional agent when comparing insurance rates for low income drivers, the agents listed below can help you decide which policy is best.
To locate a Henderson auto insurance agent near you, click the link after the list.
Farmers Insurance: Laurie Yakubik
183 Gibson Rd – Henderson, NV 89014 – (702) 456-8119
Paradigm Insurance Agency
170 S Green Valley Pkwy #300 – Henderson, NV 89012 – (702) 522-0730
Jason Spronk – State Farm Insurance Agent
900 Wigwam Pkwy #140 – Henderson, NV 89014 – (702) 564-3380
View map of Henderson, NV insurance agents
How to find budget-friendly auto insurance for low income drivers
The list below summarizes some of the recommended penny-pinching suggestions that can help drivers quote lower-cost coverage.
- Avoid at-fault accidents and claims
- Choose a safer vehicle and pay lower rates
- Raise physical damage deductibles
- Violations and traffic tickets increase rates
- Higher credit ratings may save you money
- Compare rate quotes often
That final tip is certainly significant, as was pointed out in this piece. Car insurance rates fluctuate constantly, so drivers shouldn’t hesitate to buy from a different company if you can save money. Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that dedication is costing a wad of cash every year. Spend a few minutes and compare rates and find cheaper insurance for low income drivers in Henderson.