On average, your neighbors pay $61 a month.See Your Rates
Nevada is known as The Silver State due to the role of silver and mining in its history. In modern times, Nevada is known for legalized gambling, something that fuels its largest industry, tourism. Part of what makes Nevada such a popular destination and so beautiful is its unique desert climate. However, this climate is also responsible for a number of homeowners insurance risks that are prevalent in The Battle Born State.
How much is home insurance in Nevada? Nevada has some of the lowest homeowners insurance premiums in the country. The average cost of homeowners insurance in the state of Nevada was $737. That's much lower than the national average of $1,173. Only three states have lower home insurance rates than Nevada.
|Nevada Annual Average||$687||$704||$737|
|Nevada Price Per Month||$57||$59||$61|
|US Annual Average||$1,096||$1,132||$1,173|
|US Cost Per Month||$91||$94||$98|
|Source: Facts + Statistics: Homeowners insurance|
The graph below shows the change in average Nevada home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Nevada homeowners insurance rates increased from $689 in 2011 to $737 in 2015, a jump of $48 dollars, or 6.97 percent.
Choosing a homeowners insurance company in Nevada should be easier. Actually, it’s already easy. The key to finding the best rates is to compare homeowners insurance quotes in Nevada from multiple companies.
Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Nevada. Out of the 8,030 Nevada homeowners that used QuoteWizard to request insurance quotes last year, 277 had no home insurance.
The above list shows the most popular home insurers in Nevada according to our users. But popular doesn’t always mean best.
Our study on the Best Homeowners Insurance Companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:
|Rank||Company||Financial Rating||Market Share|
|5||CSAA Insurance Group||A+||5.97%|
|8||Hartford Fire and Casualty||A||3.46%|
Insurance companies look at several factors to determine your home insurance rates. Some of these factors, like your claims history, are unique to you or your home. Other factors, like property crime rates, affect all NV homeowners.
Your homeowners insurance rates depend on your home’s specific characteristics. These are the home characteristics that affect your prices:
Filing a claim almost always leads to a rate increase. If you file several claims within a few years, your prices will skyrocket. Claims stay on your record for five to seven years. That’s why homeowners should always avoid filing any unnecessary claims.
Home insurance policies vary depending on what you want included in your policy. Policies come with several different coverage options. For example, if you own expensive jewelry, you may want extra liability coverage. Coverage also depends on your home size. 21 percent of NV homes have five rooms.
Your credit score plays a big role in determining your homeowners insurance prices. Insurance companies look at your credit score, and you’ll have to pay higher rates if you have bad credit. Unfortunately, NV has the fourth worst credit score in the nation.
NV is the 17th most natural disaster-prone state in the country. The higher the weather risk in your state, the higher insurance prices will be. Nevada has more natural disasters than average, but your climate depends on where in the state you live. That means your weather risks vary in different part of Nevada. In Western Nevada, for example, check for foundation cracks in case of an earthquake. In Central Nevada, keep shrubs and flammable material away from your home in case of a wildfire.
No matter where in the state you live, you may encounter one of these natural disasters at some point:
Nevada is prone to earthquakes, and homeowners insurance doesn’t cover earthquake damage. Make sure to purchase a separate policy. According to the Nevada Division of Emergency Management, there are steps you can take to prevent damage from natural disasters.
Burglary puts your home at risk and raises your insurance prices. Areas with a high property crime rate also have high homeowners insurance rates. NV has the 20th highest property crime rate in the country. In 2017, Nevada’s average property crime rate was 2,612.4 per 100,000 residents.
Property crime rate varies depending on where in the state you live. For example, Las Vegas has an average of 30.46 property crimes annually per 1,000 people. Whereas Carson City has an average of 16.4 property crimes annually per 1,000 people.
Similar to natural disasters, there are steps you can take to prevent a burglary from happening at your home. These include: deadbolt locks, security cameras, alarms, and more.
You have plenty of options to choose from when it comes to homeowners policy types. In NV, these are the insurance types you can choose from:
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