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Homeowners insurance in Nevada
The cost of homeowners insurance in Nevada is $1,024 a year for the average amount of coverage. Nevada residents can compare rates from multiple companies with Policygenius.
Published September 4, 2020|6 min read
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Editorial disclosure
Homeowners insurance is essential financial protection for the 56% of Nevada residents who own a home. Homeowners insurance covers your house, personal property, and assets in the event that the unexpected happens.
The statewide average cost of homeowners insurance in Nevada is $1,024 per year, but policy premiums can differ greatly based on specific factors related to your home and the details of your policy. Your rates will be directly impacted by your home’s condition and style of build, its location, your credit and claims history, and your policy deductible amount. Rates also vary from company to company for the same level of coverage, which is why it’s so important to compare policies from different companies — that’s where we come in.
To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Nevada offered through our website. We also calculated the cheapest and most expensive cities in Nevada for home insurance based on hundreds of submitted quotes.
KEY TAKEAWAYS
The average cost of homeowners insurance in Nevada is $1,024 per year for $100,000–500,000 in coverage
The cheapest homeowners insurance company in Nevada is Stillwater, according to Policygenius quote data
When deciding on policy coverage, Nevada residents should consider the state’s thunderstorms and occasional earthquakes
The 5 best homeowners insurance companies in Nevada
A great homeowners insurance company is financially stable, has dependable customer service, affordable coverage, flexible policy options, and high quality discounts.
Using those benchmarks, we determined the following five companies were the best homeowners insurance companies in Nevada. Read about our methodology here.
Best company for a cheap quote: Stillwater
Stillwater provides the cheapest Nevada home insurance quote of any Policygenius partner carrier. The average quote with Stillwater is $754 for $100,000–500,000 in coverage, which is over $200 cheaper than the statewide average of $1,024. If you’re a Nevada homeowner looking for a budget pick, Stillwater may be your best bet.
Read our full review of Stillwater here .
Best company for policy discounts: Nationwide
There are many ways to save on your insurance premiums, including policy discounts. Nationwide offers a generous multi-policy discount if you bundle your home insurance policy with their auto insurance or another type of property insurance. Nationwide also offers discounts for securing and strengthening your home and roof from break-ins and bad weather. If you haven’t filed a claim in three years or if you recently purchased your home, that can also land you a discount with Nationwide.
Read our full review of Nationwide here
Best replacement cost policy: Safeco
If you’re a Nevada homeowner looking to maximize coverage for the structure of your home, Safeco may be the way to go. Safeco has four comprehensive tiers of coverage, which all include the option to add extended replacement cost, a policy add-on that increases your home’s coverage limits an additional 25% or 50% if rebuild costs exceed your dwelling coverage amount. Safeco’s “Premier Plan”, its highest level of coverage, includes guaranteed replacement cost, which pays for a rebuild of your home regardless of the price.
Read our full review of Safeco here
Best financial standings: Travelers
One important indicator of an insurance company’s ability to pay out claims in an effective and timely manner is their financial stability, and Travelers is among the highest-rated insurers in that area. With an A++ rating with A.M. Best, Travelers has the highest score a company can receive with the insurance company credit rating agency. Travelers also has high marks with Standard & Poors, which measures long-term financial stability, as well as Moody’s, which measures what the expected losses would be if a company were to go into default.
Read our full review of Travelers here
Best company for a fast quote: Hippo
If you’re a Nevada homeowner looking to get a quote quickly and easily, Hippo may be your best option. The application process with Hippo is faster than any other homeowners insurance company we’ve reviewed in Nevada. Hippo has a seamless online application process: all you need to do is type in a few details about your home and you get a quote in under a minute.
Read our full review of Hippo here
Average cost of homeowners insurance in Nevada by company
When comparing insurance companies, Nevada residents may find that rates differ greatly from company to company for the same level of coverage. A more expensive policy may provide more coverage add-ons in a basic plan than their competitors, but some companies may simply charge more for coverage in certain areas than others.
After reviewing hundreds of quotes submitted with Policygenius, we found that Stillwater is the cheapest insurance company in Nevada with an average annual premium of $754 for $100,000–500,000 in coverage. Encompass is the most expensive with an average annual premium of $1,537 for the same amount of coverage.
| Company | Policygenius Rating | Average Cost |
|---|---|---|
| ASI | 6.6/10 | $882 |
| Encompass | 8.3/10 | $1,537 |
| Hippo | 8/10 | $945 |
| Mercury | Not rated | $831 |
| MetLife | 6.5/10 | $1,162 |
| Nationwide | 7.7/10 | $1,198 |
| Progressive | 6.6/10 | $975 |
| Safeco | 7.3/10 | $1,133 |
| Stillwater | 7.6/10 | $754 |
| Travelers | 7.7/10 | $767 |
Average cost of home insurance in Nevada by coverage amount
The average cost of homeowners insurance in Nevada will also differ considerably based on the amount of insurance you have for your home (remember, your coverage amount should be based on the cost to fully rebuild your home if it were destroyed). Below is the average homeowners insurance quoted rate for five different levels of coverage.
| Coverage Amount | Average Cost |
|---|---|
| $100,000-$200,000 | $ 914 |
| $200,000-$300,000 | $ 980 |
| $300,000-$400,000 | $ 995 |
| $400,000-$500,000 | $ 1,140 |
| Greater than $500,000 | $ 1,684 |
Average cost of home insurance in Nevada by city
Insurance companies will also price policies differently based on where in Nevada you live. We found Spring Creek has the lowest rates in the state with an average annual premium of $872 for $100,000-500,000 in coverage. The most expensive area is North Las Vegas with an average annual premium of $1,272.
| City | Average Cost |
|---|---|
| Carson City | $ 1,253 |
| Elko | $ 1,052 |
| Fernley | $ 1,121 |
| Henderson | $ 968 |
| Las Vegas | $ 987 |
| North Las Vegas | $ 1,272 |
| Reno | $ 1,050 |
| Sparks | $ 909 |
| Spring Creek | $ 872 |
| Winnemucca | $ 1,118 |
We selected the 10 largest cities in Nevada by population where customers have submitted quotes with Policygenius. Quotes are based on a coverage amount between $100,000 and 500,000.
The cheapest cities for homeowners insurance in Nevada
The most expensive cities for homeowners insurance in Nevada
Guide to homeowners insurance in Nevada
Common causes of home insurance loss in Nevada
The most common natural hazards in Nevada are winter storms, thunderstorms and lightning, with the latter two causing the state $2.9 million in property losses per year. Homeowners insurance does cover lightning damage, but Nevada residents who experience frequent storms should consider installing lightning protection systems and surge protector devices for extra protection.
Nevada is also at risk for earthquakes, which are not covered by a standard homeowners insurance policy. Although most of Nevada’s earthquakes have been minor, in 2008 the state experienced a 6.0 magnitude earthquake near the city of Wells. Since standard homeowners insurance does not cover earthquake damage, Nevada residents should consider purchasing an earthquake insurance policy in addition to their homeowners policy, or adding an earthquake endorsement to their policy if it’s available.
Does homeowners insurance cover flooding in Nevada?
The most expensive natural hazard in Nevada is flooding, which costs the state on average $5.1 million in property losses per year. Homeowners insurance does not cover flooding in Nevada or any of the other 49 states. State residents can supplement that gap in coverage by purchasing a flood insurance policy.
Flood insurance can typically be purchased through the same insurance company that insures your home. Most flood policies are sold by private companies but administered by the federal government’s National Flood Insurance Program (NFIP). An NFIP flood policy can cover up to $250,00 for the structure of your home and up to $100,000 for personal belongings.
Nevada Department of Insurance
The Nevada Division of Insurance is a valuable resource both for Nevada homeowners purchasing coverage for the first time or for those who are already insured. The NDOI website has helpful information about what to prioritize when selecting your coverage, preparing for natural disasters, and buying flood insurance.
What if I can’t get homeowners insurance?
Homeowners insurance companies can cancel your insurance for a number of reasons — maybe the insurance company no longer offers coverage where you live, or maybe they determined your home was too risky to insure after a recent inspection.
Unlike other states, Nevada doesn’t offer a Fair Access to Insurance Requirements (FAIR) Plan. If you’re unable to get homeowners insurance with a standard carrier, look into coverage with a surplus or excess lines insurer. Surplus carriers specialize in risks that are typically rejected by traditional insurance companies.
A couple of downsides to getting coverage through a surplus carrier are that it’s typically more expensive than a standard homeowners insurance provider and the companies aren’t admitted with the state, meaning they aren’t subject to the same rules and regulations as traditional insurance companies. But surplus lines coverage is a solid option if you’re a Nevada resident looking for last minute coverage.
Not where you live? We've got you covered, check out our guide to homeowners insurance in your state
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