Best and Cheapest Renters Insurance in Nevada (2024)

Capital Insurance Group is the best and cheapest renters insurance company in Nevada, with a Moneygeek score of 82 out of 100 and an average annual premium of $84. However, the best for you will depend on your needs. Nationwide is best if you value service, and USAA is ideal for military members.

Make sure to evaluate companies based on your unique requirements.

Capital Insurance Group is the top renters insurance provider in Nevada, with a MoneyGeek score of 82 out of 100 and an average annual premium of $84 for $20K in personal property coverage. This leading provider effectively balances affordability and customer service. The following providers are the two best renters insurance companies in Nevada for the same policy:

• Capital Insurance Group: MoneyGeek score of 82 out of 100 ($84 per year)
• Country Financial: MoneyGeek score of 81 out of 100 ($104 per year)

Capital Insurance Group has the lowest annual premium and perfectly balances customer satisfaction and affordability. However, the best choice for you will still depend on your unique needs.

Capital Insurance Group offers the cheapest renters insurance in Nevada, with an average annual premium of $84 for $20K in personal property coverage. The following providers are the top two cheapest in Nevada for $20K in personal property coverage with a $1,000 deductible:

• Capital Insurance Group: $84 per year
• Country Financial: $104 per year

Personal property coverage helps protect your belongings, such as furniture and electronics, if they're damaged, stolen or destroyed. Cheap renters insurance policies often have low personal property coverage limits. Higher coverage limits can increase monthly costs but offer better protection for your belongings.

In Nevada, Capital Insurance Group is the cheapest renters insurance company for $20K in personal property coverage with a $2,000 deductible. It has an average annual premium of $65. For the same coverage with a $2,000 deductible, the following providers are the top two cheapest:

• Capital Insurance Group: $65 per year
• Country Financial: $94 per year

A deductible is the amount you pay out of pocket before your insurance kicks in. Higher deductibles typically mean lower premiums. Review the table below to see how rates change depending on the chosen deductible.

In Nevada, Nationwide is the best renters insurance company for service quality. It has an average annual premium of $185 for $20K in personal property coverage. The following are the top two best providers in Nevada offering the same coverage to those who value excellent customer service:

• Nationwide: MoneyGeek score of 91 out of 100 ($185 per year)
• American Family: MoneyGeek score of 83 out of 100 ($140 per year)

Great customer service is crucial when looking for renters insurance because it ensures your issues are resolved quickly and efficiently. For instance, you want timely and helpful support when you make a claim, ensuring you regain peace of mind swiftly.

State Farm offers the best renters insurance for those needing $100K of personal property coverage in Nevada, at an average annual premium of $274. For $100K in personal property coverage, the top two providers in Nevada are:

• State Farm: MoneyGeek score of 89 out of 100 ($274 per year)
• American Family: MoneyGeek score of 83 out of 100 ($291 per year)

Renters who own more personal belongings need higher personal property coverage to protect these items against loss or damage. Personal property coverage helps replace or repair your possessions if they're stolen, damaged or destroyed in a covered event. Higher coverage typically means higher costs, so it's essential to find a provider that balances cost and excellent service. You want affordability and reliability to protect your valuables effectively.

USAA is the top renters insurance company for military members in Nevada, with an average annual premium of $107 for $20K in personal property coverage. Note that USAA is exclusively available for those with military backgrounds. The following are the top two best providers in Nevada for military members who need $20K in personal property coverage:

• USAA: MoneyGeek score of 100 out of 100 ($107 per year)
• Capital Insurance Group: MoneyGeek score of 82 out of 100 ($84 per year)

USAA offers a range of products tailored for those with military backgrounds, offering discounts and coverages suited to the military lifestyle. Although other insurers may have lower premiums, USAA's tailored offerings make it an excellent choice for military members.

Country Financial is the best renters insurance company for those with poor credit in Nevada, with an average annual premium of $177. The following are the top two best providers in Nevada for those with poor credit:

• Country Financial: MoneyGeek score of 83 out of 100 ($177 per year)
• Capital Insurance Group: MoneyGeek score of 82 out of 100 ($157 per year)

Those with poor credit often have higher rates as they pose a greater risk to providers. Insurers view poor credit as a sign of a higher likelihood of filing claims. If you have poor credit, improve your credit to lower your rates and take advantage of discounts where possible.

The average cost of renters insurance in Nevada is $131 annually or $11 monthly. This rate is $15 cheaper per year than the national average of $146 annually. These rates are based on a renters insurance policy with $20,000 in personal property limits, $100,000 in liability limits and a $1,000 deductible.

Remember that the average cost of renters insurance in Nevada may vary greatly depending on the amount of personal property coverage you purchase. Personal property coverage protects your belongings in the event of theft, fire or other covered perils. Use the tool below to get an estimate for your renters insurance based on your needs.

The average cost for renters insurance not only varies by state but also by city. For example, the average cost in North Las Vegas is $139, compared to $119 in Sparks.

These rates are based on a renters insurance policy with $20,000 in personal property limits, $100,000 in liability limits, a $1,000 deductible and a good credit score. Use the table below to see the average cost in your city.

Multiple factors impact the cost of renters insurance in Nevada, including location, coverage amount and deductible. Understanding what affects these costs is important for making informed decisions and potentially lowering premiums.

• Location: Areas with higher crime rates or natural disaster risks can increase premiums.
• Coverage Amount: Higher coverage amounts lead to higher premiums.
• Deductible: Choosing a lower deductible usually results in higher premiums.
• Personal Property Value: Insuring more valuable items can raise costs.
• Claims History: A history of frequent claims can increase your insurance costs.

Determining your personal property coverage as a renter starts with a thorough personal inventory of your belongings, their estimated value and proof of ownership. Here's how to create one:

1. Start With Big-Ticket Items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
2. Document With Photos or Videos: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
3. Include Receipts and Appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
4. Store Information Securely: Keep your inventory list and supporting documents in a safe, accessible location, such as a cloud storage service.
5. Update Regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.

Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas, such as liability and additional living expenses. Here's what a typical policy may cover:

• Personal Property Coverage: This coverage safeguards your possessions against covered perils, like theft, and helps you replace them.
• Personal Liability Coverage: This coverage protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
• Loss of Use Coverage: This coverage can help with additional living expenses. For example, if your rental is uninhabitable due to a fire, loss of use coverage can cover temporary housing costs.

Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:

• Fire or lightning
• Windstorm or hail
• Explosions
• Riots
• Damage caused by aircraft
• Damage caused by vehicles
• Smoke damage
• Vandalism
• Theft
• Volcanic eruption
• Falling objects
• Weight of ice, snow or sleet
• Water-related damage from home utilities
• Electrical surge damage

Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods typically falls outside standard policies. Here's what else is usually not included:

• Natural Disasters: Standard policies often exclude events like floods.
• High-Value Items: Expensive jewelry or electronics may exceed policy limits.
• Business Equipment: Items used for business may require additional coverage.
• Roommate Property: Your policy does not cover your roommate's belongings.
• Pest Damage: Infestations and damage from pests are generally not covered.
• Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.

Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.

The best renters insurance provider for you ultimately depends on your needs. We've answered some of the most frequently asked questions about renters insurance to help you make an informed decision.