Expert Advice on Saving Money on Nevada Car Insurance

If you’re new to shopping for car insurance online, it’s easy to be confused by the large number of online car insurance companies and websites offering insurance in Nevada.

Locating more affordable car insurance is easy if you know what you’re doing. In a nutshell, every driver who is shopping for car insurance will most likely be able to find lower rates. But Nevada consumers can benefit from knowing how companies sell online.

Policy discounts you shouldn’t miss

Car insurance can cost a lot, but discounts can save money and there are some available to cut the cost considerably. Certain discounts will be applied at quote time, but lesser-known reductions have to be asked about in order for you to get them.

  • New Vehicle Savings – Adding a new car to your policy can save up to 30% since new cars are generally safer.
  • Auto/Home Discount – When you have multiple policies with the same insurance company you will save approximately 10% to 15%.
  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to complete a driver education course in high school.
  • Safe Drivers – Drivers who don’t get into accidents may save up to 50% more than their less cautious counterparts.
  • Defensive Driving Course – Completing a course in driver safety could cut 5% off your bill depending on where you live.
  • Drive Less and Save – Low mileage vehicles could be rewarded with a substantially lower rate.
  • Memberships – Belonging to a professional or civic organization could qualify you for a break when buying car insurance.
  • Theft Prevention Discount – Vehicles with anti-theft systems can help prevent theft and therefore earn up to a 10% discount.
  • Discount for Life Insurance – Some companies give better rates if you take out life insurance.
  • Senior Citizens – Mature drivers may be able to get better car insurance rates.

Drivers should understand that most discounts do not apply to all coverage premiums. Some only apply to the cost of specific coverages such as medical payments or collision. So even though they make it sound like you would end up receiving a 100% discount, it just doesn’t work that way. But all discounts will bring down your premiums.

Tips to Get Lower Rates

Smart consumers have a good feel for the rating factors that come into play when calculating car insurance rates. When you know what positively or negatively impacts premium levels empowers consumers to make smart changes that can help you get lower car insurance prices.

  • How many coverages with the same company – Many companies will give a discount to policyholders who consolidate policies with them, otherwise known as a multi-policy discount. If you currently are using one company, you may still want to shop around to confirm you are receiving the best rates possible. You may still find a better deal by buying car insurance from a different company.
  • Lower miles equals lower premium – The more you drive every year the higher your rate. Most companies apply a rate based upon how you use the vehicle. Vehicles left parked in the garage receive lower rates than those used for commuting. Make sure your car insurance policy is showing the correct driver usage, because improper ratings can cost you money.
  • Don’t get talked into coverage you don’t need – There are a lot of add-on coverages you can purchase if you aren’t careful. Things like roadside assistance, better glass coverage and membership fees may be costing you every month. They may seem like a good idea at first, but your needs may have changed so remove them from your policy.
  • Keep rates low by being claim-free – If you are a frequent claim filer, you can pretty much guarantee higher rates. Companies in Nevada give discounts to people who file claims infrequently. Insurance coverage is meant to be used in the event of the large, substantial claims.
  • Credit scores impact car insurance rates – Credit score is a important factor in determining your rates. If your credit is lower than you’d like, you could save money insuring your by repairing your credit. Drivers who have high credit scores tend to be better drivers and file fewer claims than drivers who have poor credit.
  • Higher deductibles cost less – Physical damage insurance, otherwise known as comp (or other than collision) and collision, protects your car from damage. A few examples of covered claims are running into the backend of another car, damage from fire, or theft. Physical damage deductibles are the amount of money you are willing to pay before a claim is paid by your company. The more expense you have to pay, the less your car insurance will be.
  • Where you live can impact rates – Choosing to live in a rural area can save you money when it comes to car insurance. Fewer drivers means a lower chance of having an accident as well as less vandalism and auto theft. Drivers in populated Nevada areas have to deal with traffic congestion and longer commutes to work. More time on the road means more change of being in an accident.

Your coverage should be tailored to you

When it comes to buying proper insurance coverage, there really is not a best way to insure your cars. Everyone’s situation is a little different.

Here are some questions about coverages that could help you determine if your situation may require specific advice.

  • Do I need special endorsements for business use of my vehicle?
  • Do I need PIP (personal injury protection) coverage in Nevada?
  • When should my teen driver be added to my policy?
  • Do I qualify for additional discounts?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • What if I don’t agree with a claim settlement offer?
  • Does my personal policy cover me when driving my company car?

If you’re not sure about those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.

But I prefer to buy car insurance from an agent

A small number of people just want to buy from a licensed agent. One of the great benefits of price shopping on the web is the fact that you can find better rates but also keep your business local. Buying from small agencies is definitely important in smaller rural communities.

Upon completion of this quick form, your insurance coverage information is instantly submitted to insurance agents who will compete to get your business. There is no reason to visit any agencies as quotes are delivered straight to your inbox. It doesn’t get any easier! You can find the lowest rates and work with a local agent.

Not all insurance agents are the same

When looking for a local agent, there are two different types of agents to choose from. Agents can either be captive or independent (non-captive).

Independent Agents (or Brokers)

Independent agencies do not work for one specific company but instead can place your coverage with many different companies enabling the ability to shop coverage around. If your agent finds better pricing, an independent agent can move your coverage and you don’t have to find a new agent.

When shopping rates, it’s recommended you get quotes from at a minimum one independent agency to have the most options to choose from. Most have the option of insuring with different regional companies which can be an advantage.

Agency Captives

These agents work for only one company such as Farmers Insurance or State Farm. They are unable to compare other company’s rates so they have to upsell other benefits. Captives are well schooled in insurance sales which helps them sell insurance even at higher premiums. Consumers frequently choose to use a captive agent primarily because of the brand legacy and strong financial ratings.

For a full directory of agents in Nevada, click here.

Picking an auto insurance agent shouldn’t rely on just a low price. Agents should be asked these questions:

  • Are there any discounts that you might be missing?
  • Are they able to influence company decisions when a claim is filed?
  • Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
  • Will their companies depreciate repairs to your car based on the mileage?
  • If your car is totalled, how to they determine the replacement cost?
  • Are claim adjusters local or do you have to take your car somewhere else?
  • Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
  • If they are an independent agency, which companies do they recommend?

After receiving positive responses to all your questions in addition to an acceptable price estimate, you have narrowed it down to a car insurance agent that will properly insure your vehicles.

Save $387 a year. For real?

Car insurance providers like State Farm, GEICO and Progressive constantly bombard you with ads on television and other media. They all make the same claim of big savings if you switch to their company. How can each company say the same thing? This is how they do it.

Different companies can use profiling for the driver they prefer to insure. An example of a desirable insured could possibly be between the ages of 40 and 55, insures multiple vehicles, and drives newer vehicles. Any new insured who matches those parameters gets the lowest rates and is almost guaranteed to save when they switch companies.

Potential insureds who do not match this ideal profile will be charged higher prices which leads to business not being written. The ad wording is “drivers who switch” not “everybody who quotes” save that much money. That’s why companies can truthfully state the savings.

That is why you need to quote coverage with many companies. It is impossible to predict which car insurance company will provide you with the cheapest rates.

Additional resources for Nevada consumers

Additional information is located on the Nevada Division of Insurance website. Click here for link. Consumers can read consumer alerts, read industry bulletins, find disaster information, and learn about specific coverages.

The articles below may also help you learn more about car insurance in Nevada

A tidy conclusion

We just presented some good ideas how to lower your car insurance rates. The key thing to remember is the more quotes you get, the better your chances of lowering your rates. You may be surprised to find that the lowest premiums are with some of the smallest insurance companies.

When buying insurance coverage, it’s very important that you do not buy lower coverage limits just to save a few bucks. Too many times, an accident victim reduced physical damage coverage only to discover later that their decision to reduce coverage ended up costing them more. Your strategy should be to buy enough coverage at the best price.

Drivers switch companies for a variety of reasons including not issuing a premium refund, policy cancellation, delays in paying claims and denial of a claim. It doesn’t matter why you want to switch finding a new car insurance company is not as difficult as it may seem.