Cheapest car insurance in Las Vegas

The cheapest insurance policies are ones that only meet the minimum liability insurance requirements set by the state. Out of seven large and widely available insurers, Progressive had the lowest average quotes with an annual premium cost of $1,295. The second cheapest insurer, and a great alternative, is State Farm, which is around the same price as Progressive.

The cheapest insurer overall is USAA who provided quotes of $832 per year — or around $69 per month — on average. However, USAA will not be an option for many Las Vegas residents, as it is only available to current and former military members and their families.

Dense cities like Las Vegas tend to have a higher risk of accidents, making insurance prices more expensive than smaller areas like Reno or Dayton. This is why Las Vegas and its surrounding cities have insurance premiums that tend to be pricier than Nevada’s average.

Even though the minimum policy is the most affordable option for car insurance, the minimum requirements set by Nevada will not cover you for damages to your own vehicle and personal belongings.

Cheapest full coverage policy in Las Vegas

The insurer with the cheapest average premium for full coverage is State Farm. Progressive is the second most affordable but costs an average $300 more than State Farm.

Current and former military members should look into contacting USAA for coverage, as it has the cheapest average insurance quotes out of eight companies.

A full coverage policy can be more than double the cost of a minimum cost policy. However, it not only covers the state minimum insurance coverage but also includes collision and comprehensive coverage. Both coverages protect your vehicle when an accident causes damage.

Cheapest insurance for young drivers looking for full coverage

Age is another aspect of your driver profile that will have a major impact on your insurance quote. A young and inexperienced driver is more likely to be in a car accident and is seen as a greater risk for insurers.

The cheapest insurers are State Farm and USAA, with average annual rates of $7,855 and $4,677, respectively. The next best option is GEICO, which is nearly $1,000 more expensive than State Farm, at an average cost of $8,650.

Unfortunately, if you're a young driver, you will often be quoted extremely high rates no matter how much you shop around. However, there are a few options to consider before you decide on an insurer.

Another step is to ask insurers about discounts. Companies offer discounts for a number of things including completing a defensive driving course, having cameras in your car or having a good driving record. Some companies even have discounts for getting good grades in school.

Cheapest full coverage insurance after an accident

An accident on your record has the potential to increase your annual premiums by hundreds or even thousands of dollars. State Farm and USAA had the lowest premium increases following an accident. These two insurers were the only companies from our study that increased annual costs by less than $1,000 following an accident.

If you are looking for an alternative to State Farm, another option is to research each insurer’s discount and forgiveness policies. Certain insurers have accident forgiveness or good driver discounts.

An important thing to note is that insurance companies can define what is and isn’t an accident in different ways, so depending on the type of accident, insurers may alter the way they change your rates.

Average cost of car insurance in Las Vegas, by neighborhood

Auto rates will fluctuate depending on what area of the city you live in as each area has a different crime rate and density. Prices can even vary depending on what specific part of the neighborhood you live in. The cheapest area of Downtown Las Vegas costs $600 less than the most expensive area.

Minimum car insurance requirements in Las Vegas, Nevada

Nevada drivers are required to have auto insurance in order to legally operate a vehicle on the road. The required coverages are bodily injury liability and property damage liability. Being caught driving without insurance can result in fines and possibly license suspension.

Bodily injury liability, otherwise known as “third-party” insurance, reimburses other drivers for accidents where you are at fault. It does not cover medical costs of your own injuries.

Property damage liability covers the financial liability costs in instances where your accident causes damage to another person’s property. It will not cover damages to your own car or property.