Best homeowners insurance companies in Nevada for 2024

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.

The top 5 home insurance companies in Nevada

Additional Nevada home insurance companies to consider

Allstate

Travelers

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:

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.

1. 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.
2. 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.
3. 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.
4. 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 $958 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 58 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 $2,229 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.

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.

*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.

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

Frequently asked questions

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.