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Best homeowners insurance companies in Nevada for 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Compare the best homeowners insurance companies in Nevada
As you research Nevada homeowners insurance companies, there are several factors that you may want to take into consideration. Understanding what you are looking for in a company — the lowest price, certain coverage options or specific policy features — may help you best understand what company is right for you.
We used multiple factors, from average rate data provided by Quadrant Information Services to customer satisfaction rankings with J.D. Power, to determine that the best Nevada homeowners insurance policies are written by five companies: USAA, Country Financial, State Farm, American Family and Farmers. Keep in mind that USAA is only available to active-duty military, veterans and qualifying family members.
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4.7
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$77
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$923
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3.9
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$184
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$2,204
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4.2
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$96
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$1,150
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3.1
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$88
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$1,057
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2.9
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$142
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$1,706
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Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Bankrate's trusted insurance industry expertise
Read our full methodologyThe home insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers information they need to make educated decisions when shopping for home insurance.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The top 5 home insurance companies in Nevada
Best for military-focused coverage
4.7
4.7
Avg. premium for $300K dwelling
$77/mo
Avg. premium for $300K dwelling
$923/yr
Customer satisfaction
881/1,000
-
Why USAA made our list: USAA has the second-cheapest average premium on our list, but the caveat is that it only sells coverage to active-duty military and veterans and their qualifying family members. If you qualify for USAA insurance, you may be able to take advantage of the company’s excellent customer service, reliable coverage and discounts. Although the company does not qualify for official ranking with J.D. Power due to its eligibility restrictions, it consistently receives high customer satisfaction scores.
Who USAA may be good for: Military members stationed at Nellis or Creech Air Force Bases may appreciate USAA's good reputation for quality coverage and excellent customer service. The company offers coverage options that are specific to those serving their country, such as insurance for your uniforms.
Best for customer service
3.9
3.9
Avg. premium for $300K dwelling
$184/mo
Avg. premium for $300K dwelling
$2,204/yr
Customer satisfaction
635/1,000
-
Why Country Financial made our list: Country Financial earned an above-average score in J.D. Power’s 2023 U.S. Home Insurance Study for overall customer satisfaction. The average premium is more expensive than Nevada’s average, but you may have the option to customize your policy with add-on coverage for sump pump failure, countertop burns, identity theft and more. The company also has several potential discounts that could help you save on your premium.
Who Country Financial may be good for: If you value customer satisfaction more than saving money, consider Country Financial. Its high score on the J.D. Power survey indicates a company that values its relationship with policyholders.
Best for exclusive local agents
4.2
4.2
Avg. premium for $300K dwelling
$96/mo
Avg. premium for $300K dwelling
$1,150/yr
Customer satisfaction
643/1,000
-
Why State Farm made our list: State Farm is the largest home insurance company in the country based on market share. State Farm’s home insurance coverage is fairly standard, but the company offers a few potential discounts that can help Nevada homeowners get a lower rate. State Farm also has helpful online tools and resources and a user-friendly mobile app. If you are looking for optional coverage, State Farm offers a few endorsements, including options to cover your musical instruments, jewelry and lawn decorations. The company has more than 20 offices throughout the state, so exclusive local agents are available no matter where you live.
Who State Farm may be good for: If you like to develop a good relationship with an agent who works in your community and has feet-on-the-ground knowledge of your area, State Farm might be a good choice. Its exclusive local agent network features seasoned pros who can answer your questions and help you build the best policy for your needs.
Best for low average rates
3.1
3.1
Avg. premium for $300K dwelling
$88/mo
Avg. premium for $300K dwelling
$1,057/yr
Customer satisfaction
638/1,000
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Why American Family made our list: American Family homeowners insurance comes with all the basic coverage you expect in a homeowners insurance policy, plus the option to add endorsements for more protection. With the lowest average rates on our list, it might be a good option for those on a budget. To get an even cheaper rate, you might qualify for some of its potential discounts, such as being a loyal customer, paying in full and having a recently renovated home. American Family also has a diminishing deductible program.
Who American Family may be good for: With its low average rates, American Family may be a good choice for new homeowners who are cash-strapped after their home purchase.
Best for customizing your policy
2.9
2.9
Avg. premium for $300K dwelling
$142/mo
Avg. premium for $300K dwelling
$1,706/yr
Customer satisfaction
609/1,000
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Why Farmers made our list: Farmers has a higher average premium than Nevada’s statewide average, but you may want to get a quote if you are looking for a policy that you can customize. Farmers’ home insurance policies come in three levels: standard, enhanced and premier. Within the levels, you can add optional coverage to tailor your policy to your needs. And you might be able to lower your premium with discounts, like savings for non-smokers and for homes with security systems.
Who Farmers may be good for: Not everyone wants or needs a cookie-cutter policy, and if that's the case for you, Farmers may be worth a look. Unlike some companies that offer a single level of basic coverage with a few add-ons, Farmers has a robust, three-level system from which you can choose for your own coverage, along with endorsements such as guaranteed replacement cost and building ordinance or law.
Additional Nevada home insurance companies to consider
Allstate
Homeowners looking for multiple policy management options
Allstate employs many live agents to meet with customers who prefer face-to-face interactions. Allstate tied with USAA in 2024 for the Bankrate award for Best Home Insurance Company Overall. The company offers robust endorsements on top of standard policy options, enabling extensive policy customizations for interested homeowners. It even provides a home-sharing endorsement called Allstate HostAdvantage, for those sharing their dwelling space. Allstate scored in the middle on the J.D. Power 2023 Home Insurance Study but is still below the industry average for the year.
Travelers
Homeowners looking for ultra-cheap policies
Travelers offers standard home coverage options with several endorsements for added coverage and customization. The company also has several discounts available for eligible homeowners, including new homebuyer, protective devices, loss-free and green home discounts. While the company may be a good fit for policy customization and discounts, it did score near the bottom on the 2023 J.D. Power Home Insurance Study.
How Bankrate chose the best home insurance companies in Nevada
To determine the best Nevada home insurance companies, Bankrate's insurance editorial team, which includes licensed agents, analyzed data sourced from Quadrant Information Services to determine average annual rates for each company. We then looked at third-party ratings for customer satisfaction from J.D. Power and financial strength ratings from AM Best along with digital accessibility and the breadth of coverage options and discounts. With all this data factored in, we determined a Bankrate Score, from 0.0 to 5.0 for each company (with 5.0 being the highest), to help homeowners easily compare companies and make the best determination for their needs.
Cheapest home insurance companies in Nevada
Bankrate knows that, for many homeowners, price is front-of-mind when shopping for a home insurance policy. To help homeowners looking to spend less on their home insurance, we put together a list of some of the best cheap home insurance companies in Nevada. Most of the providers listed below have rates below the average home insurance cost in Nevada, with the exception of State Farm:
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$77
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$923
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- $174 |
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$88
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$1,057
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- $40 |
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$96
|
$1,150
|
+ $53 |
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$142
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$1,706
|
+ $609 |
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$184
|
$2,204
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+ $1,107 |
How to get cheap Nevada home insurance
Of course, no matter where you live, you want to purchase home insurance that covers your finances adequately at the lowest price possible. Here are a few strategies that might help you save money when you shop around for Nevada homeowners insurance.
- Take advantage of bundling: Almost all insurers offer significant savings if you purchase more than one policy from them. Most commonly, this will mean you have your home and car insurance with the same company.
- Take care of your roof: An older roof can cause costly insurance claims, so insurers want to know how old your roof is when you ask for a quote. A newer roof will typically earn you a better price on home insurance, and if it's made with storm-resistant materials, you may even earn a discount.
- Watch your credit score: Statistically, people with lower credit scores (which factor into your credit-based insurance score) file more claims, so having poor credit can affect your home insurance rates in most states. Try to keep an eye on your credit score, or consider working with a financial planner to keep your credit score as high as possible to get lower rates.
- Increase your deductible: A higher deductible means you pay more out of pocket before your insurance kicks in after an approved claim, and it's likely to earn you a lower premium. Just make sure that whatever deductible you select is an amount you feel comfortable paying on short notice.
Best home insurance discounts in Nevada
In addition to the strategies we've listed above, you might be able to save money on your Nevada home insurance by utilizing available discounts. A knowledgeable insurance agent can help you determine which home insurance discounts offered by your preferred company you qualify for, or you may be able to find a listing of them on your company's website. Here are a few that are common in Nevada:
How to save on home insurance policy renewals in Nevada
Most home insurance policies renew every year, and with that renewal date typically comes a new premium. Here’s what you can do to help shave some money off your premium:
- Upgrade your home’s security: If you take steps to fortify your home against break-ins, your insurer may reward you with a lower premium. This can be as elaborate as a whole-home security system or something as simple as just a doorbell camera.
- Ask about discounts: A lot can change between home insurance policy renewal dates. You could have started a job in a different industry, installed protective devices in your home, turned 65 or gotten some work done on your roof. Speaking with a licensed insurance agent could help you spot discounts you may have missed out on the first time around.
- Try to limit claims: Statistically, homeowners who have filed a claim are more likely to file another one in the future. Claims cost insurers money, which means they might charge you a higher rate to help recoup. As a rule of thumb, many experts recommend only filing a claim if the repairs are significantly higher than your deductible.
- Improve your credit score: In Nevada, insurers are permitted to use your credit score when calculating your rate. A better credit score won’t happen overnight, but taking steps to boost your credit score between policy renewal dates could help you earn a more favorable rate.
How much is home insurance in Nevada?
The average cost of homeowners insurance in Nevada is $1,097 per year for a policy with $300,000 in dwelling coverage. For comparison, the average cost of home insurance in the United States is $2,304 per year. Nevada homeowners pay about 52 percent less than the average American for their home insurance coverage.
Home insurance in Nevada is cheaper on average than in many bordering states. In California, the average annual home insurance premium is $1,480 and in Arizona, homeowners pay an average of $2,163 per year. A number of factors go into determining home insurance premiums. Nevada is less prone to severe weather and wildfire impacts compared to neighboring states, leading to lower property claim frequency and severity.
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---|---|---|---|---|---|
$640
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$923
|
$1,003
|
$1,167
|
$1,625
|
|
$1,388
|
$2,204
|
$2,456
|
$3,007
|
$4,777
|
|
$745
|
$1,150
|
$1,276
|
$1,575
|
$2,448
|
|
$692
|
$1,057
|
$1,159
|
$1,352
|
$1,857
|
|
$1,027
|
$1,706
|
$1,915
|
$2,444
|
$3,899
|
Nevada homeowners insurance rates by city
Insurance risks like break-ins and natural disasters are not spread equally across Nevada. As such, home insurance costs are subject to vary from ZIP code to ZIP code. With the interactive map below, you can compare home insurance costs where you live to other Nevada ZIP codes.
Your premium is determined in part by the area of the state you live in. Insurers look at how many claims they receive from each ZIP code to help determine risk. In areas where there are numerous claims — either because of frequent natural disasters, high crime or any other reason — rates are likely to be higher. Areas with fewer claims, meanwhile, will see lower average rates. Here are some of the cheapest cities for Nevada homeowners insurance:
- Lovelock: $920 per year — 16 percent below state average
- Fallon: $921 per year — 16 percent below state average
- Silverpeak: $922 per year — 16 percent below state average
- Paradise Valley: $925 per year — 16 percent below state average
- Winnemucca: $926 per year — 16 percent below state average
In these Nevada cities, the cost of homeowners insurance is the most expensive throughout the state. If you live in one of these areas, however, you may still be able to purchase low-cost home insurance by shopping around and taking advantage of available discounts. Even in the most costly cities, where home insurance rates range from 5 to 14 percent higher than the Nevada state average, average rates are still well below the average national rate of $2,304.
- Las Vegas: $1,160 per year — 6 percent above state average
- North Las Vegas: $1,144 per year — 4 percent above state average
- Sloan: $1,140 per year — 4 percent above state average
- Nellis Afb: $1,137 per year — 4 percent above state average
- Indian Springs: $1,130 per year — 3 percent above state average
*Rates are for $300,000 in dwelling coverage.
What does home insurance cover in Nevada?
We mention customizing a home insurance policy a couple of times, but what exactly does that mean and why would someone need to customize? Your home insurance policy is written on a standard form that protects you from a list of specified perils. The most common type of home insurance is an HO-3 form, which protects your dwelling and other structures on an open peril basis, and your personal property is protected on a named peril basis. This means that your dwelling and other structures are protected from everything except what is specifically excluded from your policy, while your personal property is only covered for the perils that are written out in your policy.
So, in order to be protected for more than what’s in your policy, you might consider purchasing additional endorsements. But, before you research what you need to add, you should first get familiar with what your home insurance policy already covers:
- Smoke
- Falling objects
- Vandalism
- Fire and lightning
- Explosions
- Theft
Additional home insurance coverage types in Nevada
Most Nevada homeowners insurance companies offer basic homeowners insurance, plus a variety of endorsements for additional protection. Here are some other insurance coverage types that Nevada homeowners might want to consider that are not included in a standard policy. Some of these coverage types may be available as an endorsement rather than a separate policy, so speak with your insurance agent to learn more.
- Flood insurance: Flood damage is not covered by standard homeowners insurance policies. You will need a flood insurance endorsement (offered by relatively few companies) or a separate flood insurance policy from the National Flood Insurance Program (NFIP) or a private insurer to be covered. According to the Federal Emergency Management Agency, the average cost of a flood insurance policy in Nevada is $1,031 per year.
- Earthquake insurance: Homeowners insurance policies generally do not include coverage for earthquake damage, but you may be able to add it as an endorsement. If you are in a high-risk area, you may need a separate earthquake insurance policy. This is something Nevada homeowners will want to take seriously, as it is the third-most earthquake-prone state in the country (behind California and Alaska).
- Water backup insurance: Water damage caused from a backed-up sewer or drain lines is not an automatic coverage and often must be added by endorsement. This kind of damage may be more common in basements and crawl spaces but can occur from any sewer or drain line.
If you are unsure what coverage options may be best for your situation, talking with an agent might be helpful.
Related content:
Common Nevada home insurance problems
Nevada may be less prone to natural disasters than its neighboring states, but that does not necessarily put homeowners in the clear for experiencing weather-related damage. Nevada is the driest state, but floods are still common. Nevada may be known for its sprawling deserts, however, it still gets a noticeable amount of snow. Other common hurdles Nevada homeowners may encounter include:
- Coverage limitations in wildfire risk zones
- Obtaining flood insurance
- No FAIR plan or similar program for homeowners in high-risk areas
New
Recently, Nevada has become a much more dog-friendly state in terms of insurance. In early 2022, a new law went into effect pertaining to dog breeds and home insurance. Senate Bill 103 prohibits property insurers from canceling, refusing to renew or raising rates because of dog breed.
Nevada’s western neighbor, California, has seen more than its fair share of insurance woes throughout the past year. While the Nevada insurance market does not share the same exact problems, some of the Golden State’s problems could begin to trickle over into the Silver State. Fresh off the heels of the news that it was exiting California, local insurance company CSE will also be leaving Nevada.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates for our base profile are based on the following characteristics and coverage levels:
Dwelling coverage
$300,000Other structures coverage
$30,000Personal property coverage
$150,000Loss of use coverage
$60,000Liability coverage
$500,000Medical payment coverage
$1,000The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Additional profiles:
- Coverage A, Dwelling: $150,000, $350,000, $450,000, $750,000
- Coverage B, Other Structures: $15,000, $35,000, $45,000, &75,000
- Coverage C, Personal Property: $75,000, $175,000, $225,000, $375,000
- Coverage D, Loss of Use: $30,000, $70,000, $90,000, $150,000
- Coverage E, Liability: $500,000
- Coverage F, Medical Payments: $1,000
Bankrate Scores
Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
Tier scores are unweighted to show the company's true score in each category out of a possible five points.