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Nevada homeowners insurance: what you need to know

A home insurance policy protects your dwelling, attached buildings, and personal property in the event of a number of misfortunes, including fire, theft, vandalism, or wind damage. The average annual price you will pay for home insurance in Nevada is $975 ($82 per month). The best way to find cheap homeowners insurance in Nevada is to view prices from a variety of insurance companies. 

Unlike car insurance, home insurance is not controlled by state legislation. Even so, major differences exist in homeowners insurance costs on a state-by-state basis. Homeowners insurance costs in states may vary depending on the value of — and frequency of — home insurance claims made in the state, and also on the value of the belongings and dwelling you're insuring

Learn more about average home insurance rates in Nevada by reviewing the below data. Your rates may vary, depending on your coverage limits.

 

Table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by deductible amount
  4. Rates by city
  5. Bundling savings
  6. Frequently asked questions
  7. Natural disaster coverage

 

The cheapest home insurance companies in Nevada

Home insurance prices in Nevada will vary based on the insurance company you choose. Farmers offers the most affordable home insurance in Nevada — only $598 per year. This is less than the state average price of $975, providing a $377 price cut on average statewide homeowners insurance costs. 

Start shopping for your best home insurance policy by viewing average rates from top Nevada companies, listed below.

 

AFFORDABLE HOME INSURERS IN NEVADA
Insurance CompanyAverage Yearly Rate in Nevada
Farmers$598
Universal Insurance$636
Safeco$658
Travelers$748
American Family$786

 

Nevada home insurance prices by coverage levels

How much you spend on home insurance coverage is greatly impacted by the level of coverage you choose. Homeowners in Nevada who carry $100,000 of dwelling coverage pay an average of $463 per year, while those with dwelling coverage of $400,000 pay around $1,166 per year.

 

POPULAR COVERAGE LIMITS IN NEVADA
Coverage LevelAverage Annual Cost
$100,000 Dwelling$463
$200,000 Dwelling$723
$250,000 Dwelling$801
$400,000 Dwelling$1,166

 

Homeowners insurance deductibles in Nevada

Homeowners face a number of choices when buying a homeowners insurance policy, including the amount of their deductible. A deductible is the amount for which a homeowner is responsible before the insurer will cover a claim. Where you choose to set your homeowners deductible is directly related to how much you pay in insurance premiums.

Put simply, a higher deductible means cheaper insurance costs. As such, if you want your insurance rates to stay low, aim for a higher deductible. Be mindful of the fact that your deductible should only be set as high as you can reasonably afford if you suffer a loss.

The following chart outlines the typical rates associated with standard homeowners deductibles.

 

HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN NEVADA
Deductible TierAverage Annual Homeowners Insurance Rate
$500$875
$1,000$801
$1,500$759
$2,000$723
$5,000$602

 

Nevada homeowners insurance costs by city

Not every city in Nevada has equal home insurance costs. Rates depend on locally specific variables such as the number of homeowners claims filed nearby, meaning your specific ZIP code impact how much you pay.

The cheapest home insurance in Nevada is found in Carson City. An average home insurance policy in Carson City costs $881 per year — $94 less than the average policy in other Nevada cities. The below table shows the best places to live in Nevada if you’re looking for cheap homeowners insurance.

 

CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN NEVADA
CityAverage 12-Month Home Insurance Rate
Carson City$881
Fallon$901
Dayton$902
Elko$902
Spring Creek$909

 

Seeking insights on home insurance in a specific city? Check out our breakdown of significant Nevada cities:

 

Home and auto insurance bundling in Nevada

If you want to save on insurance, consider carrying your home and auto policies with the same insurance company. Bundling homeowners and auto insurance in Nevada can lead to substantial savings on car insurance. Purchasing bundled policies in Nevada leads to a yearly discount of $201.

 

HOME AND AUTO BUNDLING DISCOUNTS IN NEVADA

Avg. Annual Rate (No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)

$1,873$1,672$20112%

 


 

Nevada homeowners insurance FAQs

 

Does the state of Nevada require homeowners insurance?

It's not mandated by law to carry homeowners insurance but your mortgage lender will require it.

 


 

Natural disaster coverage in Nevada

 

Does homeowners insurance cover earthquakes in Nevada?

Nevada endures an average of 85 earthquakes annually, which means that Nevada residents should seriously consider earthquake insurance.1 However, this coverage is not a regular feature in home insurance policies. Earthquake coverage comes in the form of an endorsement to your current policy and covers losses that result from land movement.

Another serious concern with earthquakes comes in the form of aftershocks. Aftershocks can be severe and can cause damage for days after the initial earthquake. Luckily, having this coverage means that you pay only one deductible for losses from the initial earthquake as well as any resulting aftershocks that happen within a 72-hour period.

For those who live in earthquake-prone areas, you can expect that your homeowners insurance rates will be more expensive. This is especially true in areas with the highest risk. Earthquake insurance is not available from most standard insurers, but there are options for those who live in states where earthquakes are a real threat. Insurance companies in Nevada may offer endorsements covering earthquake damage. Keep in mind that earthquake insurance deductibles tend to be more costly than standard deductibles. In Nevada, a homeowners insurance endorsement for earthquake coverage carries an additional cost of $253 per year.

Take a look at the best options for earthquake coverage in Nevada listed below. Please note that these figures are merely estimates. Rates specific to your property can be found by consulting the listed insurers.

 

CHEAP HOMEOWNERS EARTHQUAKE COVERAGE IN NEVADA
Insurance CompanyAverage Annual Earthquake Insurance Rate
Universal$604
Allstate$835
State Farm$871
Travelers$922
CSAA$962

 

Does homeowners insurance cover flood damage in Nevada?

Flood damage— no matter the circumstances under which it occurs —is not covered by homeowners insurance policies. To ensure your home is covered, you should buy flood coverage from a private flood insurance company or through the National Flood Insurance Program (NFIP).

Flood insurance coverage from private companies may vary, but if you buy through the NFIP you are allotted coverage for:

  • $250, 000 structural coverage
  • $100, 000 personal property coverage

If the value of your personal property and home exceeds these coverage limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

 


 

Sources:

1United States Geological Survey

 


 

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

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  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.