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Nevada Homeowners Insurance Quotes
The state of Nevada has some of the wildest and most beautiful landscapes in the country. Whether you love to get out in the desert on your four-wheeler, head to Lake Tahoe for boating or enjoy the bright lights of Las Vegas, the state of Nevada has you covered.
While almost 75 percent of our population lives in Clark County, which contains the Las Vegas-Paradise metropolitan area, Nevada has plenty of other areas that are great places to call home. Nevada is large, ranking as the 7th most extensive state in the nation but we have plenty of open space, Nevada ranks 9th in the least densely populated states.
Regardless of whether you decide to put down roots in the Las Vegas area or buy a home in our capitol city of Carson City, moving to Nevada is one of the best decisions you will ever make.
Nevada Facts
According to the Census Bureau, Nevada had an estimated population of 2,839,099 in 2014, which is an increase of 5.13%, since the year 2010.
While growth has slowed in recent years, Nevada was the eighth fastest growing state in the nation according to the 2006 census. Las Vegas is by far the largest city in the state with a population of 603,000 residents, dwarfing the number two city of Henderson which 270,000 call home. If you are looking for a small town feel, consider Incline Village in Washoe County, the Lake Tahoe area. Housing options abound in the Silver State.
Median income in Nevada was $51,230 in 2013, the latest figures available which ranks it as a fairly unimpressive 39th in the country. The cost of housing can vary dramatically across the state which means that just about everyone can find an affordable housing option.
According to Zillow the median home value in Nevada is $195,600 making homeownership very affordable. While Nevada real estate prices took a hit during the Great Recession, they are starting to climb back. Prices shot up 11.3 percent last year and Zillow is predicting they will go up another 5.5 percent this year so it's a good time to get in the market.
Areas like Gardnerville tend to have higher home values with a median price hitting $258,000 while the more affordable option of Fernley comes in at a much more reasonable $148,000.
Homeowers Insurance in Nevada
Another great thing about living in Nevada is the cost of homeowners insurance. Only 18 states have a lower average premium than us. The median annual premium comes in at a very affordable $584.
If you want to drive your insurance cost even lower, most experts recommend shopping your policy on an annual basis. We can help you find a great policy at an affordable price. We shop a huge number of national insurers to come up with the best deal for you. Best of all, the service is free and convenient.
Another great way to save is to adding home security. Adding a monitored security system can result in a fairly significant discount. Discounts will vary so contact your insurer for details.
Factors to Consider in Nevada
Nevada is fairly lucky when it comes to natural disasters. Earthquakes are rare, and tornadoes are almost non-existent. Flooding however can be an issue. Hot, dry air hardens the earth, which doesn't easily absorb water so heavy rains can lead to flash flooding.
Flood damage is not covered by a normal homeowners policy so it is extremely important to purchase an additional flood policy if your home is located within a flood zone. This can also be important in the Lake Tahoe area of Washoe County. Costs will vary depending on the location of your home but in general, flood insurance can be fairly expensive.
Crime rates will also affect your homeowners rates and unfortunately Nevada has plenty of crime. The Silver State ranks number two in the country when it comes to crime rates. Our robbery rate, motor-vehicle theft rate and aggravated assault rate are quite high compared to other states and this will absolutely affect your insurance rates, regardless of whether you live in Reno or Minden.
There are a number of websites that will break down crime rates by neighborhood and it is a good idea to check any areas that you are considering. If the crime rate is too high, move on to the next area.
If you are moving to Kingsbury, Blue Diamond, Spanish Springs or any of Nevada's other beautiful cities we can help. We work with some of the largest insurance companies in the state and can help you find the best coverage at an affordable price.
Average Homeowners Insurance Premiums in Nevada
With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what Nevada homeowners are paying on average. Did you know that the average homeowners insurance premium in Nevada is $824? Nevada is now ranked 47 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in Nevada is 37.15% less than the national average.
| Year | Average Annual Premium | Average Monthly Premium | State Rank (Overall) |
|---|---|---|---|
| 2020 | $824 (4.2%) | $ 69 | 47 |
| 2019 | $791 (1.9%) | $ 66 | 48 |
| 2018 | $776 (2.74%) | $ 65 | 48 |
| 2017 | $755 (1.74%) | $ 63 | 48 |
| 2016 | $742 (0.68%) | $ 62 | 48 |
When we combine the state averages over the last decade, the Nevada overall average is estimated to be around $810.73. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. Nevada current state rank compare to the rest of the country is #47. Consider shopping your Nevada home insurance with us so we can help you save up to 40% or more on your policy.
Nevada Homeowners Insurance News & Information
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Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024
While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states. In most states, insurers are allowed to consider credit scores when setting […]
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The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024
If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it. A.M. Best is a credit rating […]
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Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
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North Carolina Coastal Home Insurance Rates Posted on Friday 29th March, 2024
North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]
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How Do Renovations Impact Home Insurance? (2024 Guide) Posted on Friday 15th March, 2024
Making renovations to your home can have a major impact on your insurance coverages as your risk profile changes. Adding square footage, putting in a swimming pool, outbuilding or upgrading your electrical may change the value of your home which could leave your underinsured. Major upgrades such as adding square footage to your home or […]
Nevada Housing & Real Estate Data
| Details: | Staticstics |
|---|---|
| Total Housing Units | 1173814 |
| Occupied Housing Units | 1006250 |
| Vacant Housing Units | 167564 |
| Vacant Housing Units for Rent | 61985 |
| Vacant Housing Units Rented Not Occupied | 1838 |
| Vacant Housing Units For Sale | 32949 |
| Vacant Housing Units Sold Not Occupied | 3416 |
| Vacant Housing Units For Seasonal Occasional Use | 32703 |
| Vacant Housing Units All Other Vacants | 34673 |
| Housing Units Homeowner Vacancy Rate Percent | 5.2 |
| Housing Units Rental Vacancy Rate Percent | 13 |
| Housing Tenure Occupied Units | 1006250 |
| Housing Tenure Occupied Units Owner Occupied | 591480 |
| Housing Tenure Occupied Units Owner Occupied Population | 1574145 |
| Housing Tenure Occupied Units Owner Occupied Averge Household Size | 2.66 |
| Housing Tenure Occupied Units Renter Occupied | 414770 |
| Housing Tenure Occupied Units Renter Occupied Population | 1090252 |
| Housing Tenure Occupied Units Renter Occupied Average Household Size | 2.63 |
Understanding Nevada Homeowners Insurance
When shopping for Nevada homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:
- HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
- H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
- HO-4: If you are looking for Nevada renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.
While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.
If you are shopping for a new home in Nevada, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different Nevada rates and coverage options.