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Home Insurance and Car Insurance in Nevada
In the market for affordable home and auto insurance in Nevada? You’re not alone. According to data from the U.S Census Bureau, 60.5 percent of Nevada residents1 are homeowners and just over 2 million people have their driver’s license.2 That’s a lot of risk and liability to protect.Luckily, SelectQuote offers one of the best ways to shop for insurance coverage. Whether you need to protect your home or automobile, you can find the right amount and type of insurance coverage for your budget.Homeowners Insurance in Nevada
For Nevada homeowners, home insurance is one thing you don’t want to gamble on. For starters, home insurance helps provide funds to repair or replace your home in the event of a catastrophe like a fire or severe windstorm. For another, it can cover the loss of personal property due to unfortunate events like theft or vandalism. While each home insurance policy differs in what hazards it provides coverage for, most policies generally fall under two categories3:
- Actual cash value policies pay out the depreciated or current market value of covered items in the event of their loss due to theft or damage. This means that if a homeowner needs to replace an item (or their home), they will receive the financial equivalent of what their property was worth at the time of its destruction. In simpler terms, this means the amount you receive may be less than what you paid.
- Replacement cost policies pay the actual costs of a rebuild or replacement, minus depreciation. It is not affected by inflation, zoning updates or increased materials or labor costs. Replacement costs policies can be more expensive, but they can offer peace of mind that you will receive more for your coverage.
Homeowners Insurance Coverage Options in Nevada
Your home insurance needs will vary based on many different factors, including the age, type and location of your home. In some cases, mortgage lenders may dictate specific coverage requirements. The following types of home insurance coverage are common components of major home policies:- Dwelling coverage, is a standard policy that insures the actual structure of your home, along with any attached garages and other connected structures.
- Personal property coverage guards against losses to your belongings, regardless of whether they are located inside or outside your home.
- Personal liability coverage can provide financial protection if someone is injured on your property and you are found liable. It also covers damage to another person’s property.
- Guest medical protection coverage can insure individuals who are injured at your residence, regardless of fault.
Common Causes of Loss in Nevada
Nevada shares several common causes of loss with other states. The state does see its fair share of natural disasters like severe storms. Typical causes of loss for the state include:- Flooding: Flooding can occur in the state, especially in southeast Nevada. Flooding in this part of the state is so common that the National Flood Insurance Program (NFIP) reported an average claim payout of $36,500.
- Water damage: Water damage often goes hand-in-hand with floods. When heavy rains cause roofs to leak or pipes break, it can cause massive damage.
- Earthquakes: Nevada can see increased risk of earthquakes, which aren’t just destructive, but also are not typically covered under most home insurance policies.
Additional Insurance Coverage Options Recommended for Nevada Homeowners
In addition to the typical hazards that most home insurance policies cover, some experts recommend buying additional coverage for your home. These different types of insurance may be available from your existing insurance provider, or they may need to be purchased as separate policies.- Flood insurance: Almost no home insurance policies cover flooding as a matter of course, which means purchasing additional coverage. One of the most accessible flood insurance options is through the National Flood Insurance Program (NFIP).
- Earthquake insurance: Insurance companies usually will not cover damage from earthquakes. In areas that are prone to these events, earthquake insurance can be a real benefit.
Home Insurance Companies We Partner with in Nevada
SelectQuote works with several different trusted home and auto insurance companies in every state, and that includes Nevada. Our partnerships with these carriers allow us to shop for rates and compare prices from many different providers at once. When we find the best price for your policy needs, we pass that savings along to you.What is the average home insurance cost in Nevada?
The average home insurance price for SelectQuote’s Nevada customers is $85.87 per month.+ Nevada home insurance rates vary due to many factors, including your ZIP code, the age and condition of your home, your credit history and even the number of claims you have filed with other insurance companies.Homeowners Insurance Discounts in Nevada
You may be eligible for selected discounts on your home insurance policy depending on many factors, including whether you’re a first-time homebuyer or work in a specific profession. Other discount options include savings for those with few or no insurance claims, excellent credit and home security systems.Bundle Your Home and Auto Insurance to Save Money
One of the biggest discounts insurance companies offer their customers is a bundled coverage deal. You could save hundreds of dollars by bundling your home and auto insurance policies. The average yearly savings for SelectQuote customers when they combine home and auto policies is nearly $700.Average Home and Auto Insurance Rates in Nevada
| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
| Henderson | $81.49 | $197.72 | $260.33 |
| Las Vegas | $92.81 | $223.46 | $307.57 |
| North Las Vegas | $80.70 | $262.03 | $380.88 |
| Reno | $105.22 | $167.86 | $273.49 |
| Sparks | $72.97 | $161.33 | $207.85 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Nevada Car Insurance
Auto insurance is important for Nevada drivers just like everywhere else. It’s important to know exactly what types of coverage are required, both legally and as a condition of your auto loan. SelectQuote can help you find the right kind of auto insurance for your needs, from minimum legal amounts of liability coverage to full coverage for total vehicle protection.Nevada Auto Insurance Laws and Requirements
Nevada laws require that all drivers carry minimum legal coverage. This insurance coverage helps pay for damages that you cause in the event of an auto accident. Nevada requires both injury liability and property damage liability coverage. You may decide to purchase other coverage at your discretion. The following types of auto insurance coverage are available to Nevada drivers:- Liability insurance pays for damages caused by you if the accident is your fault. It will also pay for medical bills incurred by the other driver or their passengers. Nevada requires drivers to have $25,000 of coverage for injuries per person, up to $50,000 per accident. It also requires $20,000 of coverage for property damage.This coverage, known as 25/50/20 coverage, is the bare legal minimum for drivers.
- Uninsured/underinsured motorist coverage pays for medical expenses when the other driver is at fault and doesn’t have sufficient insurance coverage. All agents in Nevada are legally required to offer this coverage, but drivers may waive it in writing.
- Personal injury protection insurance can help pay for medical expenses or funeral expenses for you or your passengers.
- Collision coverage helps cover expenses for repairs or replacement for your vehicle if it is damaged in an accident.
- Comprehensive coverage can help pay for repairs or replacement for vehicles that are stolen or damaged by storms, vandalism or animals.
- Gap insurance is a type of auto policy that covers the difference between what you currently owe on your vehicle and its appraised total value after an accident. It is often a condition of an auto loan, usually when leasing a vehicle.
| Type of Insurance Coverage | Minimum Coverage Limit |
| Bodily Injury Liability | $25,000 per person/$50,000 per accident |
| Property Damage Liability | $20,000 |
| Collision coverage | Not required |
| Underinsured Motorist | Not required |
| Personal Injury Protection | Not required |
| Collision | Not required |
| Comprehensive | Not required |
| Gap Insurance | Not required |
Nevada Teen Driving Laws
Teen drivers in Nevada are subject4 to many of the same restrictions as teenagers in other states. Teen drivers must attend school when applying for instruction permits and have the school principal or other officer sign part of their application. Teen drivers must complete 50 hours of behind-the-wheel experience with a licensed driver at their side. In addition, they must pass a driving skills and written test.Nevada teen drivers are subject to local curfews, passenger restrictions and a total ban on alcohol use.Nevada Car Registration Information
Nevada residents must register their vehicle within 30 days of purchase or moving to the state. Drivers must provide proof of in-state liability insurance with minimum coverage amounts. In addition, they must pass emissions inspections and provide proof of vehicle ownership.What is the average car insurance cost in Nevada?
The average monthly premium for auto insurance for SelectQuote customers in Nevada is $199.86.+ What you pay for auto insurance depends on many different factors, including the year, make and model of your vehicle. Insurance companies also look at your ZIP code, your credit rating and how often and why you drive your vehicle. Finally, car insurance companies heavily weigh risk based on the number of accidents and other traffic violations you’ve been involved in.Auto Insurance Companies We Partner with in Nevada
SelectQuote works with the most trusted auto insurance companies in Nevada to shop for affordable coverage to meet your needs. We shop for your coverage from dozens of carriers and help find the most affordable coverage that meets your unique needs.Nevada Home and Auto Insurance Frequently Asked Questions
Some common questions related to home and auto insurance in Nevada include:How much will it cost to register my car in Nevada?
Nevada auto registration costs vary by type of vehicle. In addition to the appropriate property taxes, fees for unique license plates will also depend on the type of plate and vehicle registered.5 Sequential license plates cost $7 when initially registering, whereas personalized ones will cost $42 the first year and $60 for every year after.
Do you need renters insurance in Nevada?
Like homeowners insurance, renters insurance is not a legal requirement in Nevada. Many property management companies will make it a requirement for renting from them. Renters insurance covers many of the same personal property losses as homeowners insurance and is incredibly affordable.
Do you need mobile home insurance in Nevada?
Because mobile homes are unique, they often require their own type of home insurance policy. Mobile homes are often more vulnerable to fire and wind damage because they do not have a traditional foundation. SelectQuote can help you find affordable mobile home coverage in Nevada.
What is considered full coverage auto insurance in Nevada?
Full coverage in Nevada is the same as it is in other states:
- Personal injury liability coverage
- Property damage liability coverage
- Comprehensive coverage
- Collision coverage
SelectQuote Can Shop Nevada Home and Auto Insurance to Help Save You Time and Money
Finding affordable, convenient auto and home insurance in Nevada is easier than ever when you partner with SelectQuote. We use proprietary technology to shop from dozens of insurance companies at once to find you the best rates on bundled home and auto coverage. Even if you only need standalone coverage, our methods work to help find you all available savings, including discounts.Sources
- https://fred.stlouisfed.org/release/tables?rid=144&eid=258566#snid=258567
- https://www.statista.com/statistics/198029/total-number-of-us-licensed-drivers-by-state/
- https://doi.nv.gov/uploadedFiles/doinvgov/_public-documents/News-Notes/HomeInsuranceGuide2011B.pdf
- https://dmv.nv.gov/nvdlteens.htm
- https://dmv.nv.gov/platesmain.htm
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