Average Costs and Cheapest Homeowners Insurance Companies in Nevada

In Nevada, Travelers is the cheapest insurer overall as well as for homeowners with pools or new homes. If you have poor credit, you will get the best rates at Universal North America. Also, American Family is the cheapest insurer for expensive homes.

MoneyGeek examined thousands of quotes from multiple providers to calculate average rates and help you find the cheapest homeowners insurance companies in Nevada.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Nevada if you want to balance cost and quality.

MoneyGeek calculated average premiums in Nevada using thousands of quotes from multiple providers to determine the cheapest providers for different dwelling coverages.

If you are looking for the cheapest home insurance companies in Nevada for baseline dwelling coverage of $250,000, Travelers is the most affordable option at an average of $691 per year.

For other dwelling coverages, here are the cheapest insurers:

• Cheapest for $100,000 - Travelers
• Cheapest for $250,000 - Travelers
• Cheapest for $500,000 - American Family

How much dwelling coverage you need will be based on the cost of replacing or rebuilding your home. To see how costs vary for different dwelling coverage levels, toggle the table below.

In Nevada, the baseline dwelling coverage amount is $250,000, and these policies cost an average of $906 per year. Choosing a higher coverage limit means that your home and personal possessions are adequately protected against potential damages, but you will also need to pay more.

The cost of home insurance in Nevada can differ greatly depending on the dwelling coverage. For instance, dwelling coverage of $100,000 is priced at $536 per year, while a dwelling coverage of $3 million costs $8,237.

Many factors could affect the rates of your homeowners insurance, including the value, location and age of your home, the amount of personal property that you need to have covered under your policy and whether your property has any safety and security devices installed.

To see how the average cost of homeowners insurance in Nevada can change, adjust your dwelling coverage limits, deductible and other limits in MoneyGeek’s calculator.

MoneyGeek calculated average rates based on thousands of quotes from different providers to help you find the cheapest insurance companies in Nevada for expensive homes.

Our analysis showed that, on average, the most affordable options for homeowners looking for a policy with $2 million in dwelling coverage are from:

• American Family: $3,549 per year
• Farmers: $4,085 per year

Insurance premiums for expensive homes can vary greatly depending on the actual dwelling coverage and insurance provider. Be sure to shop around and compare quotes from multiple providers before buying a policy.

Using thousands of quotes from different providers, MoneyGeek found the cheapest insurers for a sample home built in 2015 with $250,000 in dwelling coverage.

On average, the most affordable homeowners insurance in Nevada for this type of home are from:

• Travelers: $395 per year
• Farmers: $477 per year

Newer homes tend to be cheaper to insure, with most insurers offering low rates for the addition of up-to-date security and safety features. On average, Nevada homes built in 2015 are less expensive to insure by $238 per year compared to homes that were constructed in 2000.

Numbers for homes built in 2000 differ from the first section due to a different ZIP code collection process.

On average, newer homes in Nevada cost $658 per year to insure, while those constructed in 2000 cost an average annual premium of $895.

In general, older homes are more expensive to insure because of the extent and cost of repair and maintenance that are required. Some of the more common issues that need to be resolved are faulty and outdated electrical, plumbing, roofing and heating systems, as well as structural and foundation changes to meet current building and safety standards.

MoneyGeek researched and averaged thousands of quotes to find the cheapest home insurance company in Nevada with a pool and baseline dwelling coverage of $250,000.

We found that, on average, the two companies offering the most affordable premiums for homes with pools in Nevada are:

• Travelers: $628 per year
• Farmers: $669 per year

A pool can add to the real estate value of your home, but it can also raise your homeowners insurance rate. Pools are not only more expensive to maintain and replace, but they also increase the risk of injury and death. As a result, you might need to pay for additional liability coverage.

In some states, having a pool on your property may have an impact on the cost of your home insurance. However, this is not the case in Nevada. For a $250,000 dwelling coverage limit, homeowners with a pool could pay an average premium of $896. This is only $1 more than the average premium rate for homeowners in Nevada who don’t have a pool.

MoneyGeek found the cheapest provider for homeowners in Nevada with poor credit by averaging thousands of quotes.

We discovered that for a $250,000 dwelling coverage baseline, the most affordable homeowners insurance in Nevada on average are from:

• Universal North America: $1,137 per year
• Country Financial: $1,147 per year

In some states, insurance providers use credit scores to calculate the cost of a policy. They do this to check the risk of insuring you. The thought process is that people who have lower credit scores are more likely to file a claim than people with higher credit scores.

Most homeowners insurance providers use credit scores to help determine their premiums. Generally, a poor credit background can raise your insurance rates, while an excellent credit score can help you secure cheaper premiums.

In Nevada, homeowners with an excellent score could pay up to $816 less than residents who have poor credit scores.

Insurance rates may vary depending on which city you live in. Among the four cities in Nevada that MoneyGeek analyzed, Las Vegas has the most expensive average rates of $974 per year, while Reno has the cheapest rates at $818 per year.

On average, Travelers offers the cheapest policies in most cities in Nevada, but Universal North America is the cheapest in Reno. Click on your city to learn more about the average rates.

If you are looking for home insurance in Nevada, you need to give your insurance provider information like your name, phone number, Social Security number and address. You also need to disclose your home’s value, age and contents, details of materials and construction, add-ons like solar panels and pools, security systems and valuables. All this information is required to get a binding personalized home insurance quote estimate from an insurance company.

You can also get an anonymous home insurance estimate using MoneyGeek’s Nevada home insurance calculator. We compiled thousands of quotes from different providers to come up with the average estimated costs.

MoneyGeek analyzed homeowners insurance premiums from eight of the top affordable homeowners 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 $500,000, liability coverage of $100,000 and personal property coverage of $100,000.