The Cheapest and Best Homeowners Insurance in Henderson
The Cheapest Home Insurance Companies in Henderson
When you start comparing quotes from different insurance companies, you’ll notice that most insurers provide coverage for the same items. How much the policy costs then becomes a determining factor when choosing a home insurance provider.
On average, the companies in Henderson that offer the cheapest home insurance policies with a dwelling coverage of $250,000 are:
- Travelers: $643 per year
- Farmers: $687 per year
More expensive homes have higher dwelling coverage limits. If you’re looking for the cheapest home insurance in Henderson for homes with a $2 million dwelling coverage limit, on average, these are the companies to consider:
- American Family: $3,657 per year
- Farmers: $3,909 per year
The Cheapest Home Insurance in Henderson, Ranked
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The initial baseline dwelling coverage in Henderson is $250,000. Policies with this dwelling coverage limit have personal property limits of $100,000. Increasing dwelling coverage limits also increase personal property limits. A policy with a $2 million dwelling coverage limit has a personal property coverage limit of $800,000. Liability coverage, however, is not affected. Regardless of the dwelling coverage limit, it remains at $100,000.
Home insurance in Nevada can be looked up by homeowners, even if they reside outside of Henderson.
The Average Cost of Homeowners Insurance in Henderson for 2022
In Henderson, home insurance costs $880 per year on average. This is roughly $73 per month. It is lower than both the state and national averages. The average cost of home insurance in Henderson is slightly lower than the average in Nevada, which is $906 per year. Comparing Henderson’s average home insurance cost to the US average of $2,103, it is also lower.
Calculate the Cost of Home Insurance in Henderson
The location of your home impacts the cost of your home insurance policy in Henderson. That said, other factors contribute to how your premium is computed, such as the amount of coverage you purchase to protect your home and personal property. In Nevada, even your credit score affects your premium.
Using MoneyGeek’s insurance calculator, you can compare home insurance rates in Nevada using different coverage limits.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Henderson
A policy's price is important, but it should not be your only basis for choosing an insurer. When you file a claim, things like financial strength and user experience become crucial. Ideally, you would want a home insurance company that would not add stress to an already tough situation.
Based on MoneyGeek’s analysis, the best home insurance companies in Henderson are:
- Best Overall: Travelers
- Runner-up: Farmers
MoneyGeek determined rankings by using data on user satisfaction, affordability and financial strength.
Replacement costs can be increased in a Travelers policy, assuring you that even if the cost to replace your home exceeds your dwelling coverage limit, you’ll still be covered. If your home uses environment-friendly materials, these can be expensive to replace when damaged. But, with Travelers, you’ll have extra protection to cover these costs.
The company that came out on top was Travelers since it received perfect scores for both financial strength and affordability. They offer a variety of unique coverages, including protection against identity theft.Read MoneyGeek's Travelers home Insurance Review
Farmers emphasizes the value of remaining claim-free. If you don’t file any claim for five years, you won’t be subjected to higher rates if you do need to file one later on. Always looking for ways to bring out the positive in situations, Farmers offers up to an additional $25,000 coverage if you replace your home’s materials and appliances with green alternatives if your home is damaged.
Coming in second in Henderson is Farmers, scoring well across all three areas. They have an Identity Shield feature that you can add to your existing policy to cover costs incurred during instances of identity theft.Read MoneyGeek's Farmers home Insurance Review
Cheapest Home Insurance Companies in Henderson for Newly Constructed Homes
Home insurance rates are affected by the age of your home. A policy in Henderson costs $880 per year, on average, for a house built in 2000. In comparison, home insurance in Henderson for houses built in 2015 is cheaper, costing roughly $649 annually.
The lower price is a result of several things, including the fact that modern materials are more resistant to damage. This decreases the probability of homeowners needing to file a claim and lowers the cost of claims if one is filed.
On average, homeowners with newly built homes with a dwelling coverage of $250,000 can get cheap home insurance in Henderson from the following companies:
- Travelers: $402 per year
- Farmers: $495 per year
The Cheapest Home Insurance in Henderson for New Homes, Ranked
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Cheapest Home Insurance Companies in Henderson if You Have a Lot of Personal Property
Standard home insurance policies in Henderson have a personal property coverage limit of $100,000 and cost $880 per year. Homeowners who think their personal possessions’ value exceeds this can opt to extend their coverage limit. Although it gives you more protection in the event of loss or damage to your belongings, it also increases the price of your policy. Policies with $250,000 coverage limits cost roughly $94 per year more.
Homeowners who prefer to have $250,000 of personal property coverage can get cheap home insurance in Henderson from the following companies (on average):
- Farmers: $710 per year
- Travelers: $721 per year
Cheap Companies in Henderson for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Henderson for High Deductibles
Another factor that impacts the cost of home insurance in Henderson is your deductible. A policy with a $2,000 deductible costs $782 per year. In comparison, if deductibles are lowered to $1,000, the price increases to around $880 per year.
Having a higher deductible means you pay more out-of-pocket before your insurer covers the remaining amount when you make a claim, but you pay less for your policy every year.
For home insurance policies with a $2,000 deductible, the companies that offer cheap home insurance in Henderson, on average, are:
- Travelers: $552 per year
- Farmers: $622 per year
The Cheapest Companies in Henderson for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Henderson if You Have Poor Credit
Unlike some states, home insurance companies in Nevada consider your credit score when calculating the price of their policy. Policies for homeowners with poor credit scores cost, on average, $1,634 per year. This is because they are riskier to insure.
Historically, homeowners with a good credit standing are less likely to file a claim, so their policies cost roughly $880 per year.
In Henderson, companies that offer cheap home insurance to homeowners with poor credit, on average, are:
- Country Financial: $1,052 per year
- Allstate: $1,185 per year
The Cheapest Companies in Henderson for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Henderson
Comparing home insurance quotes in Henderson is always a good idea. You can get rates online by supplying the following information:
- Home replacement cost – A professional contractor would be the best person to assess the amount needed to rebuild your home if it gets damaged. This determines your dwelling coverage limit.
- Personal property value – Keeping an accurate inventory of your belongings and their corresponding value is the easiest way to determine this. It dictates the coverage limit you need for your personal property.
- Personal Information – Insurers need to understand which part of Henderson your home is in. They will also want to know who lives in your home, your insurance history and more.
- Home Details – This ranges from how long ago your home was built to how big it is. Whether you installed security systems in your home is a factor because it can lead to a lower premium.
Homeowners Insurance in Henderson Analysis: Methodology
MoneyGeek used information provided by Quadrant to analyze quotes from eight home insurance companies in Henderson. Affordability was calculated by comparing policies for a home with varying coverage levels, while user satisfaction was from J.D. Power survey results.
Quotes from homeowners with poor credit scores, homes built in 2015 or later, increased deductibles and higher dwelling and personal property coverage limits were used to provide a comparison to a homeowner’s base profile.
An average homeowner in Henderson has a 2,500 square foot home built in 2000, with a $250,000 dwelling coverage limit, $100,000 coverage limits for personal property and liability and a $1,000 deductible.
About Mark Fitzpatrick
- The City of Henderson. "Local Flash Flooding." Accessed April 28, 2021.
- USA.com. "Henderson, NV Natural Disasters and Weather Extremes." Accessed April 28, 2021.
- Bankrate. "Does Credit Score Affect Homeowners Insurance?." Accessed April 28, 2021.