Car insurance is not cheap in Nevada, and according to recent data from Insurance Information Institute, the average car owner in the state pays $1,292 per year. That’s 17% higher than the national average and over 46% higher than residents in more affordable states pay. This emphasizes the need to seek out cheaper alternatives in Reno.
Several factors determine how much you’ll pay for car insurance, including your age, gender, credit score, vehicle type, driving record, and where you live. However, despite all these, if you know the right places to look, you can still find great deals that won’t dent your expenses.
In this article, we explore how you can get cheaper auto insurance in Reno.
How much insurance coverage do you need?
As a Reno resident, there are certain minimums that your car insurance must cover. But before we get into them, let’s consider what federal laws stipulate. In the United States, all drivers must have liability coverage. This means if you get in an accident, your insurance has to cover whatever damage you cause to the other car, its driver, and any passengers in the vehicle. Liability coverage also protects you in cases when another driver hits you but doesn’t have enough coverage.
Similarly, if you financed your car or are driving a lease, the company will probably ask that you get comprehensive coverage and collision coverage. Anyway, Nevada wants all drivers to have bodily and property coverage, with minimum requirements of 25/50/20. This translates to $25,000 injury protection for each affected person in an accident; up to $50,000 for injuries per accident; and up to $20,000 for property damages per accident.
How to get favorable auto insurance rates
Now that you have an idea of how much coverage you need, let’s discuss strategies you can employ to reduce your premiums.
1. Get a multi-car discount
If you intend to get insurance for more than one car, the company may agree to a discount to secure your business. However, you’ll probably need about 3 – 4 cars to get a significant reduction, and this only works if you live at the same residence as the other owners. You also need to be related by blood or marriage, so think wife, kids, siblings, or your close cousins.
2. Increase your deductibles
When filing for auto insurance, you should be allowed to choose a deductible, i.e., how much you want to be responsible for before the insurance company picks up the tab. Ideally, auto insurance deductibles will be in the $250 to $1,000 range, and the higher the amount you choose, the lower your premium.
Talk to your agent before deciding on an amount, though. Sometimes, you may get a nice percentage off your premium, and in some cases, the reduction is negligible. If you’re the type of person who won’t file small claims to avoid a higher premium, you should choose a sizable deductible.
3. Shop around for good deals
You can always find good deals by talking to several insurance providers and seeing how their policies measure up. As a matter of fact, even if you already have auto insurance, it’s a smart practice to shop around for a better deal every 2/3 years – you never know what types of discounts you may stumble into. On the same note, you need to be careful not to end up with a provider that isn’t creditworthy.
4. Talk to an agent
Suppose you want to avoid the hassle of haggling over discounts, wondering how much a deductible will affect your premiums, or finding reputable insurance companies that offer great deals. In that case, you can outsource this responsibility to a Reno auto insurance agent. A good agent knows where to find the best discounts, and they are often better placed to help you negotiate a favorable agreement.
Reno residents who need a trusted insurance agent can schedule a quick consultation via the attached link. An auto insurance specialist will discuss your needs, how much you’re willing to spend on premiums, and any other concerns you may have. After this meeting, you’ll know more about choosing the right plan, how to save costs, and feel better about your chances of finding an affordable car insurance plan in Reno.
