Homeowner insurance can provide you with peace of mind by protecting your home, family and belongings from unforeseen disasters. MoneyGeek compared the top insurance companies in Nevada and ranked them according to customer satisfaction, affordability and financial stability. With MoneyGeek’s rankings, you can find the best insurance for your home at the most affordable price, including the best options for luxury homeowners, homeowners with a pool and those with poor credit.
The Best Homeowners Insurance Companies and Cheapest Quotes in Nevada for 2021
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The 5 Best Homeowners Insurance Companies in Nevada
Apart from the cost of your premiums and the kind of coverage you are looking for, various other factors should also be looked into when you are trying to find the best home insurance in Nevada. Important criteria can include the company’s ability to pay claims, customer service quality and coverage options on offer.
To help you choose the best home insurance in Nevada, MoneyGeek ranked the top five companies in the state based on factors like policy costs, the ability to pay claims based on AM Best’s financial stability ratings and J.D. Power’s customer satisfaction scores.
1
TravelersScore: 93
5/5
Affordability
3.9/5
User Satisfaction
5/5
Financial Stability
Travelers policies can provide coverage for dwellings, liability protection, personal property and medical coverage for guests. It can also cover rebuilding or repairing your home with green materials if you have a certified green home. Travelers also offers a mobile app, a rate calculator and the ability to file claims and pay bills online.
Read MoneyGeek's Travelers Home Insurance Review2
FarmersScore: 93
4.9/5
Affordability
4.6/5
User Satisfaction
4/5
Financial Stability
Farmers insurance can provide cover for dwellings, separate structures, personal property and loss of use. Supplementary coverage for home content, multiple policies and eco rebuild can also be added on. Useful tech features include an inventory tool, online claims system, online quotes system, online bill payment and a well-built mobile app.
Read MoneyGeek's Farmers Home Insurance Review3
AllstateScore: 89
4.5/5
Affordability
4.2/5
User Satisfaction
4.5/5
Financial Stability
A large network of local agents in Nevada allows Allstate to provide personalized service. There are various standard and extended coverage options along with liability protection and personal property coverage. They offer discounts for multi-policy bundles and home safety features. The mobile app can be used to file claims and pay bills and has a useful claims tool.
Read MoneyGeek's Allstate Home Insurance Review4
American FamilyScore: 88
4.7/5
Affordability
4.2/5
User Satisfaction
4/5
Financial Stability
American Family provides coverage for dwellings, personal property and liability protection with additional coverage options for identity protection and home-based businesses. There are discounts for multiple policy combos and smart home security measures. The website or mobile app can be used to contact an agent, view policy documents, manage claims and pay bills.
5
USAAScore: 80
What Is the Average Cost of Homeowners Insurance in Nevada?
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$0
home insurance is 0.0% more than the average.
For a dwelling coverage baseline amount of $250,000, Nevada’s average cost of home insurance comes to about $906. Compared with the national average of $2,103, the rate is about 56.9% or $1,197 cheaper. Your personalized quote would depend on your risk profile based on factors like weather risks, the regional crime rate and your home’s value.
Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Nevada
Several factors relating to your current situations and inherent characteristics of where you live can help determine your home insurance costs in Nevada. Companies can consider factors like your credit score, frequency of past claims and your proximity to a local fire station while assessing your risk and determining premium costs.
Home Insurance Calculator
State
Nevada
Dwelling Coverage
$250,000
Deductible
$500
Liability
$300,000
Personal Property
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Cheapest Homeowners Insurance Quotes in Nevada
If you want cheap homeowners insurance in Nevada, a policy from Travelers might be your best option. For a baseline dwelling coverage amount of $250,000, the average premium for a Travelers policy is $691 per year which costs approximately $215 or 23.7% less than the state average. Dwelling coverage refers to rebuilding or repairing your home if it faces damage resulting from circumstances specified in the policy like theft, fire, hurricanes or floods. Compare homeowners insurance quotes in Nevada to find the right policy regarding affordable costs and coverage level.
Cheapest Homeowners Insurance by Dwelling Coverage
Dwelling Coverage:
$250,000
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- CompanyAmountper year
- 1. Travelers$691
- 2. Universal North America$714
- 3. Farmers$716
- 4. American Family$774
- 5. Allstate$807
Best Cheap Homeowners Insurance Companies for Expensive Homes
Owning an expensive home in Nevada can leave you exposed to expensive repairs if something goes wrong. On average, the most affordable coverage for $2 million homes in Nevada comes from American Family. Similar policies from other providers can be more than twice as expensive than American Family, in some cases.
Cheapest Homeowners Insurance Companies for High-Value Homes
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- CompanyAmountper year
- 1. American Family$3,549
- 2. Farmers$4,085
- 3. USAA$4,991
- 4. Allstate$5,094
- 5. Universal North America$5,296
Best Homeowners Insurance Companies if You Have a Pool
If your Nevada home has a pool, you might need additional coverage and your premiums might become more expensive. Rates can vary between providers; the most affordable option can be Travelers with an average annual cost of $628.
Cheapest Homeowners Insurance for Pool Home
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- CompanyAmountper year
- 1. Travelers$628
- 2. Farmers$669
- 3. American Family$772
- 4. Allstate$817
- 5. State Farm$1,188
Cheapest Home Insurance in Nevada if You Have Poor Credit
Credit scores can be a factor that insurance companies consider in Nevada while determining insurance costs for individual customers. Having poor credit can typically cause insurance premiums to become more expensive. The most affordable option for a Nevada homeowner with poor credit might be a policy from Universal North America. A policy from Universal North America for a baseline dwelling coverage amount of $250,000 can cost an average of $1,137 per year.
Cheapest Homeowners Insurance for Poor Credit
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- CompanyAmountper year
- 1. Universal North America$1,137
- 2. Country Financial$1,147
- 3. Allstate$1,227
- 4. Farmers$1,375
- 5. Travelers$1,375
How to Get Homeowners Insurance Quotes in Nevada
If you are looking for home insurance in Nevada, you would need to give your insurance provider information like your name, phone number, social security number and address. You would also need to disclose your home’s value and age and its contents, details of materials and construction, add-ons like solar panels and pools, security systems, and valuables. Your provider can then give you a personalized quote for your policy premium.
Compare Home Insurance Rates
Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.
Other Considerations for Homeowners Insurance in Nevada
Home values, weather risks and crime statistics can also feature heavily when determining your annual home insurance premium costs. As an example, Nevada ranked 20th in the country for property crime rate per 100,000, with 16,420 violent crimes and 73,985 property crimes, according to a 2018 FBI study. In terms of home values, the state ranks 12th overall with a typical average value of $301,753 per home.
Hazardous weather conditions and natural calamities can result in emergencies for which you need to be prepared. You need to understand the risks inherent to your area and include coverage for those risks in your home insurance plan.
Do You Need Fire Insurance in Nevada?
You might want to include coverage for fire damage in your home insurance if you live in Nevada. The state experienced 562 wildfire events in 2019 and is 9th on the list of top 10 states for wildfires ranked by the number of acres burned. Consider including fire damage coverage in your policy and installing the appropriate safety measures at home.
Methodology
MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Nevada that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Nevada. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
sources
- AM Best. "Rating." Accessed July 27, 2020.
- Business Insider. "Here's the typical home price in every state — and what you can actually get for that money." Accessed July 10, 2020.
- FBI. "2018 Crime in the United States." Accessed July 10, 2020.
- First Street Foundation. "The First National Flood Risk Assessment Defining America’s Growing Risk." Accessed July 10, 2020.
- Flood Factor. "Find Your Home’s Flood Factor." Accessed July 10, 2020.
- Insurance Information institute. "Facts + Statistics: Hail." Accessed July 10, 2020.
- Insurance Information institute. "Facts + Statistics: Hurricanes." Accessed July 10, 2020.
- Insurance Information institute. "Facts + Statistics: Wildfires." Accessed July 10, 2020.
- J.D. Power. "Homeowners’ Satisfaction with Property Claims Reaches Record High as Insurers Focus on Relationship Management, J.D. Power Finds." Accessed July 27, 2020.
- Verisk. "Wildfire Risk Analysis." Accessed July 10, 2020.