The Cheapest and Best Homeowners Insurance in Pahrump
The Cheapest Home Insurance Companies in Pahrump
When comparing home insurance companies in Pahrump, it is important to consider cost since most companies offer the same core coverages at different rates.
If you are looking for cheap homeowners insurance in Pahrump, the most affordable companies for home insurance with $250,000 in dwelling coverage are:
- Universal North America: $504 per year
- Travelers: $581 per year
If you have an expensive home, the cheapest insurance companies in Pahrump for home insurance with $2 million in dwelling coverage are:
- Universal North America:$3,484 per year
- American Family: $3,612 per year
You can use the table below to see how adjusting your dwelling coverage limits affects the price of insurance.
The Cheapest Home Insurance in Pahrump, Ranked
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Policies in this analysis with the initial baseline dwelling coverage have personal property limits of $100,000 and all policies with dwelling coverage of $2 million have personal property limits of $800,000. All policies have $100,000 in liability coverage.
If you live in a different part of Nevada, you can research the overall average home insurance rates for Nevada.
The Average Cost of Homeowners Insurance in Pahrump for 2022
The average cost of home insurance in Pahrump is $875 per year. This rate is marginally lower than the state average in Nevada of $906 per year and significantly lower than the average national home insurance cost which is $2,103 per year.
Calculate the Cost of Home Insurance in Pahrump
Home insurance quotes in Pahrump are impacted by factors such as your location, dwelling coverage limits, personal property coverage limits and credit score.
You can use MoneyGeek’s home insurance calculator to compare home insurance costs for your homeowner profile and needs.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Pahrump
Apart from cost, considering the insurance company’s customer service track record and financial stability will help you find the best homeowners insurance in Pahrump. Since you will be filing a claim during a stressful period, you want to choose a provider who will handle your claim quickly and fairly.
Based on MoneyGeek’s study, the best homeowners insurance companies in Pahrump are:
- Best Overall: Travelers
- Runner Up: Farmers
MoneyGeek scored home insurance companies in Pahrump based on affordability, user satisfaction and financial stability.
Travelers home insurance ranks second for affordability in Pahrump at an average annual cost of $581. This provider also scores high in financial stability and offers homeowners unique coverage options such as matching coverage.
Travelers offers homeowners the option to add matching coverage, which will cover you when you need to replace damaged property with materials that look similar to undamaged property. You can also opt for an energy-efficient upgrade coverage to cover the cost of replacing damaged equipment with more energy-efficient alternatives. You can also save on your home insurance costs by taking advantage of discounts like protective device discounts for installing home security systems.Read MoneyGeek's Travelers home Insurance Review
A home insurance policy from Farmers costs $732 per year in Pahrump. Farmers had the highest customer satisfaction ratings among insurers in Pahrump and also scored high in affordability and financial stability. Farmers offers unique coverages such as extended reimbursement coverage.
This policy allows you to opt for extended reimbursement coverage which includes replacement cost coverage for the dwelling for up to 10% higher than your dwelling coverage limits. You can also get optional matching coverage of up to $30,000 to cover home repair costs associated with matching replacement materials to existing, undamaged materials. Farmers also offers policyholders discounts such as new home discounts for homes less than 14 years old and bundling discounts when you bundle home and auto insurance.Read MoneyGeek's Farmers home Insurance Review
Cheapest Home Insurance Companies in Pahrump for Newly Constructed Homes
If you have a newly constructed home in Pahrump, you will pay less for home insurance compared to someone with an older home. This is because modern building materials are easier to replace and more resistant to damage. On average, home insurance for newly constructed homes in Pahrump costs $643 per year compared to $875 per year for older homes built in 2000.
The cheapest home insurance companies in Pahrump for newly constructed homes with $250,000 in dwelling coverage are:
- Travelers: $365 per year
- Universal North America: $370 per year
The Cheapest Home Insurance in Pahrump for New Homes, Ranked
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Cheapest Home Insurance Companies in Pahrump if You Have a Lot of Personal Property
Home insurance quotes in Pahrump will vary depending on the value of your personal property you want covered. If you have a lot of personal property to cover, you will pay higher home insurance rates. For a standard policy, it costs an average of $963 per year to cover personal property limits of $250,000, compared to an average yearly cost of $875 for $100,000 in personal property coverage limits.
The cheapest insurance home insurance companies in Pahrump for those with personal property coverage limits of $250,000 are:
- Universal North America: $554 per year
- Travelers: $650 per year
Cheap Companies in Pahrump for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Pahrump for High Deductibles
The deductible on your home insurance policy can have a sizable effect on the cost of your home insurance in Pahrump. A higher deductible means you’ll pay more money out of pocket if you make a claim, but the cost of your annual premium will be less. It costs an average of $777 per year if you select a home insurance policy with a $2,000 deductible compared to an average of $875 per year for a $1,000-deductible policy.
The cheapest insurance companies in Pahrump for home insurance policies with $2,000 deductibles are:
- Universal North America: $447 per year
- Travelers: $502 per year
The Cheapest Companies in Pahrump for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Pahrump if You Have Poor Credit
When calculating home insurance rates in Pahrump, credit score is one of the rating factors that insurers use. Homeowners who have poor credit scores typically pay more for home insurance compared to those with good credit.
Home insurance in Pahrump costs an average of $1,655 per year if you have poor credit compared to an average cost of $875 per year for homeowners with good credit.
The cheapest insurance companies in Pahrump for homeowners with poor credit are:
- Universal North America: $805 per year
- Country Financial: $964 per year
The Cheapest Companies in Pahrump for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Pahrump
You can easily get home insurance quotes in Pahrump online by providing the insurer with the following details.
- The replacement cost of your home: This refers to the cost of rebuilding your home which is what insurers use to determine the appropriate dwelling coverage for your home. Since replacement cost is different from the market value, you can consult a construction professional to get an accurate estimate for your home.
- The value of your personal property: Personal property is covered under your home insurance but the appropriate property limits depend on the value of the items that will be covered. You will need to provide the insurer with an estimated value of your personal property so that they can calculate the premium for your home insurance.
- Personal information: Insurers require details including your address, who you live with, your insurance history and other relevant personal information.
- Information about your house: Details about your house including the size of your home, when it was constructed and the existence of any security devices will be required by the insurer to calculate home insurance costs.
Homeowners Insurance in Pahrump Analysis: Methodology
MoneyGeek analyzed home insurance quotes from eight insurance companies in Pahrump. Data were provided in partnership with Quadrant and customer satisfaction ratings were drawn from J.D. Power surveys. Home insurance quotes were collected for a home with varying coverage levels to calculate affordability scores.
The base profile used included a 2,500-square-foot home, built in 2000 with dwelling coverage of $250,000, personal property coverage of $100,000 and liability coverage of $100,000. All policies had a $1,000 deductible.
MoneyGeek also collected quotes for homeowners with newly constructed homes, increased dwelling or personal property coverage, higher deductibles and poor credit scores.
About Mark Fitzpatrick