Cheapest Car Insurance for Low-Income Drivers in Nevada (October 2024)


The cheapest car insurance for individual drivers with low income and poor credit history is offered by Nationwide at $59 per month. For families with low income, the most affordable provider is also Nationwide, with a rate of $93 per month.

Nevada does not offer state-backed car insurance programs for low-income families and individuals. Finding the provider with the most affordable rate can help manage costs, and there are also ways to get discounts to alleviate the expense. While minimum coverage will help you drive legally, it has downsides. For example, if you're at fault in an accident, you may face high out-of-pocket costs.

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Cheapest for Individuals With Low Income

Nationwide is the cheapest car insurance provider for individual drivers with low-income and poor credit history in Nevada with an average minimum coverage premium of $59 per month or $713 per year.

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Cheapest for Families With Low Income

Nationwide is the cheapest car insurance provider for families with low income in Nevada with an average minimum coverage premium of $93 per month or $1,114 per year.

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Cheapest for Senior Drivers With Low Income

Capital Insurance Group is the cheapest car insurance provider for seniors with low-income and poor credit score in Nevada with an average minimum coverage premium of $53 per month or $631 per year.

Why Trust MoneyGeek? We analyzed thousands of data points and quotes from Quadrant Information Services and the Nevada Department of Insurance to get the cheapest average costs for drivers with low income in Nevada.

90,496Quotes Analyzed
 
16Companies Compared
 
67ZIP Codes

Does Nevada Offer Low-Income Insurance?

Car insurance companies in Nevada do not consider your income when calculating rates. Instead, they look at factors such as your age, driving record, credit history and the type of car you drive. At-fault accidents and moving violations can increase your rates significantly.

The best way to find the cheapest rates is to compare quotes from several insurance companies. This allows you to see a variety of options and choose the one that best fits your budget.

If your budget is tight, a basic minimum coverage policy is often the most affordable way to stay legal on the road. Additionally, if you rarely drive, pay-per-mile insurance can be the best option to save money. MoneyGeek rounded up the cheapest insurers for low-income drivers in Nevada to help you save.

Minimum Car Insurance Requirements in Nevada

To legally drive in Nevada, you must carry car insurance that meets the state's minimum car insurance requirements. This includes the following coverage amounts:

  • $25,000 for bodily injury liability per person.
  • $50,000 for bodily injury liability per accident.
  • $20,000 for property damage liability per accident.

When financial constraints are a concern, a liability-only car insurance policy may suffice. It covers expenses for the other party in an accident you cause but not your vehicle's damages. To protect your own vehicle, consider a full coverage car insurance policy, which includes collision and comprehensive coverages.

For instance, if you reside in an area of Nevada prone to theft or natural events like flash floods, full coverage can offer peace of mind, safeguarding against non-collision-related damages. Understanding the risks and benefits of each policy type is crucial to selecting the right coverage for your situation.

Cheapest Car Insurance for Individuals With Low Income in Nevada

Your credit record can affect your car insurance rates in Nevada. A lower credit-based insurance score may signal to insurers that you're a higher risk, which can lead to more expensive premiums.

Nevada drivers with poor credit records can find affordable rates with:

  • Nationwide: $713 per year; $59 per month
  • Country Financial: $719 per year; $60 per month

The cheapest car insurance in Nevada for low-income drivers with a good credit history are:

  • Country Financial: $459 per year; $38 per month
  • Capital Insurance: $544 per year; $45 per month

Driving without insurance in Nevada is considered a misdemeanor and can lead to suspension of your driver's license and vehicle registration, fines ranging from $175 to $1,000 and other penalties. Make sure you're covered to drive legally and safely.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Nationwide$713$59
Country Financial$719$60
Capital Insurance Group$734$61
Mercury$1,036$86
Progressive$1,064$89
Travelers$1,216$101
Nevada General Insurance$1,307$109
Kemper$1,451$121
GEICO$1,520$127
American Family$1,549$129
Farmers$1,702$142
CSAA$2,086$174
Allstate$2,246$187
State Farm$2,318$193
Dairyland$2,699$225
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Cheapest Car Insurance for Families With Low Income in Nevada

Car insurance rates are not directly influenced by income, yet family circumstances play a crucial role in determining premiums. For single parents in Nevada, annual premiums can be $968 higher than for married couples with a teen, who enjoy a more affordable rate by $995 per year.

The most budget-friendly car insurance companies for married couples with a teen in Nevada are:

  • Nationwide: $1,114 per year; $93 per month
  • State Farm: $1,316 per year; $110 per month

For single parents with a teen, the most economical options are:

  • State Farm: $2,082 per year; $174 per month
  • Capital Insurance Group: $2,265 per year; $189 per month

The disparity in rates between married couples with a dependent and single parents with a dependent highlights the impact of family structure on insurance costs. It's essential to keep a solid credit score to access the most affordable car insurance rates.

Data filtered by:Results filtered by:
Family Type:
Family Type:Married Couple with Teen
Nationwide$1,114$93
State Farm$1,316$110
Capital Insurance Group$1,544$129
Allstate$1,601$133
Travelers$1,715$143
Progressive$1,729$144
GEICO$1,908$159
Kemper$1,956$163
Farmers$2,109$176

Cheapest Car Insurance for Seniors With Low Income in Nevada

Car insurance premiums generally decrease as you reach the early senior years, typically around age 55 to 65, especially with a clean driving record.

The two cheapest car insurance for senior drivers with low-income and poor credit history are:

  • Capital Insurance Group: $631 per year; $53 per month
  • Nationwide: $694 per year; $58 per month

After the age of 70, car insurance rates generally increase as older drivers are statistically considered higher risk. This trend continues each year, meaning premiums typically rise as seniors age. In Nevada, specific laws or guidelines may apply to seniors obtaining car insurance.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Capital Insurance Group$631$53
Nationwide$694$58
Country Financial$699$58
Progressive$1,097$91
Mercury$1,126$94
Travelers$1,271$106
Nevada General Insurance$1,492$124
American Family$1,522$127
GEICO$1,540$128
CSAA$1,741$145
Farmers$1,802$150
Kemper$1,935$161
State Farm$2,181$182
Dairyland$2,562$214
Allstate$2,593$216
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

What Factors Affect Car Insurance Rates in Nevada?

Car insurance rates in Nevada are influenced by several factors. Your income doesn't affect rates directly. However, if low income leads to a poor credit record, your rates could be higher. Conversely, a good credit score can help you get better rates.

Understanding the factors that contribute to car insurance rates can help you make informed decisions in choosing the best car insurance for you.

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    Driving record

    A clean driving history with no at-fault accidents or moving violations usually results in lower rates.

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    Age and gender

    Younger drivers, especially males, typically pay more due to higher risk than more experienced drivers.

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    Credit history

    Your credit history can affect your rates, with lower insurance scores often leading to higher premiums.

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    Location

    Where you live plays a role, with urban areas often having higher rates than rural areas due to more congested roadways, higher accident rates and incidents of vehicle theft and vandalism.

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    Vehicle type

    The make, model and year of your car impact insurance costs. Sportier or more expensive cars generally cost more to insure.

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    Coverage levels

    The higher your level of coverage, the higher your premiums.

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    Insurance company

    Different insurers have different underwriting methodologies and discounts, so it's important to compare quotes.

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    Claims history

    A history of filing claims can lead to higher rates. If you can afford to pay for your own repairs, it might behoove you not to file a claim.

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    Extreme weather events

    Nevada is prone to severe weather events, which can increase insurance claims and, in turn, rates.

How to Save on Car Insurance in Nevada

You don't need a state-sponsored program to cut costs — finding affordable car insurance in Nevada is possible with the right strategies. Here are some tips to lower your premiums:

  1. 1
    Choose minimum coverage

    Opting for a state-mandated minimum coverage can help you save significantly while ensuring you meet the legal requirements to drive in Nevada. This option provides the essential protection needed to stay compliant.

  2. 2
    Comparison shop

    Getting quotes from multiple insurers allows you to compare rates and discounts. Shopping locally might lead you to the lowest rates, as insurers often consider local factors in pricing.

  3. 3
    Look for discounts

    Insurance companies offer many discounts for various factors such as a good student status, safe driving record, military service, or bundling policies. These discounts can significantly lower your premium.

  4. 4
    Increase your deductible

    Opting for a higher car insurance deductible, the amount you pay out of pocket before your insurance kicks in, can reduce your premium. However, ensure you can afford this deductible in case of an accident.

  5. 5
    Consider pay-per-mile insurance

    If available in Nevada, pay-per-mile insurance is great for low-mileage drivers. You pay a base rate plus a per-mile fee, meaning you only pay for the miles you drive, making it a cost-effective option.

  6. 6
    Bundle your policies

    Bundling your auto policy with other insurance needs, like homeowners or renters insurance, can often lead to discounts. The best home and auto bundles can save you around $496 each year.

  7. 7
    Drive a cheaper car

    The make, model, and year of your car significantly impact insurance costs. Driving the cheapest cars to insure can save you hundreds of dollars in annual insurance expenses.

FAQ: Low-Income Car Insurance in Nevada

Finding affordable car insurance in Nevada can be tough for drivers with low incomes. Here are answers to some of your most common questions on how to save.

Does Nevada have a state-backed low-income car insurance program?
How can low-income families get affordable car insurance in Nevada?
Does your income affect the cost of car insurance in Nevada?
What are the benefits of usage-based telematics programs for drivers with low-income in Nevada?

About Mark Fitzpatrick


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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.