The average cost of home insurance in Nevada is $1,149 for a policy with $300,000 in dwelling coverage and a $1,000 deductible, which is well below the national average of $2,529.

But homeowners insurance costs in Nevada are on the rise — rates are projected to increase by 9% in 2024, with 46% of insurers raising rates, according to an Insurify home report. So it’s important to compare home insurance quotes to find the best rates and coverage for your needs.

Best home insurance companies in Nevada

Nevada offers many different home insurance companies to choose from, and the best home insurance company for you will depend on your specific circumstances. Start your search with the insurers listed below.

Cheapest rates: Universal Insurance Company

Universal Insurance Company offers the cheapest average rates in Nevada, at $888 annually. The company’s coverage is fairly comprehensive — its dwelling coverage protects the structure of your home and attached structures, like a swimming pool and pool enclosures. If you have a homeowners association, Universal will also cover any costs your HOA levies due to a covered loss.

Best insurer for endorsements: Travelers

Best insurer for new homes: American Family

Best insurer for overall value: State Farm

Cheapest home insurance in Nevada

Many factors influence your home insurance costs, including your location, claims history, and the type of coverage you need. Most home insurance companies consider the same criteria when evaluating you for insurance, but your rates can still vary depending on the insurer you choose.

On average, Universal Insurance Company, Travelers, and American Family are the cheapest home insurance companies for most Nevada homeowners. Explore other affordable insurers in the table below.

Cost of homeowners insurance in Nevada

In Nevada, the average cost of home insurance is $1,260, but many different factors can influence the cost of your premiums. For example, your ZIP code can determine how much you pay for insurance. If you live in an area at high risk of flooding or with a high rate of vandalism or theft, your insurer will see you as a bigger risk.

And if you have an older home, you’ll pay more for insurance than if you had a new build. Older homes tend to have outdated appliances and systems and may need more repairs than a new home. Your claims history, deductible, and credit history can also affect the cost of homeowners insurance.

Cost of homeowners insurance by dwelling coverage amount

Dwelling coverage pays to repair or replace the structure of your home and any attached structures following a covered loss. The more dwelling coverage you purchase, the more you’ll pay for home insurance.

In the table below, you can see the average annual premiums in Nevada for different dwelling coverage limits on policies with a $1,000 deductible.

Cost of homeowners insurance by deductible

When you file an insurance claim after a covered loss, you’ll pay an out-of-pocket deductible before your insurer covers the rest. A higher deductible means your insurer has to pay for less of the claim, so choosing a high deductible can lower your home insurance costs.

Here’s what Nevada homeowners pay for a $500 deductible versus a $1,000 deductible for policies with $300,000 in dwelling coverage.

How to get cheap homeowners insurance in Nevada

Here are some strategies you can use to find cheap home insurance in Nevada:2

• Take advantage of discounts. Most insurance companies offer discounts to help you save on homeowners insurance. For example, you could earn a discount for bundling your home and auto insurance, buying a new house, or staying claims-free.

• Improve your home safety. You may receive a discount on your homeowners insurance if you install certain safety features, like a security system or sprinkler system.

• Improve your credit. In Nevada, insurance companies can look at your credit-based insurance score when evaluating you for coverage. Maintaining good credit can help you lower your home insurance premiums.

• Stay with the same insurer. Many insurance companies offer a loyalty discount to longtime customers. You may also earn a discount if your parents are members of that same insurance company — this is called a legacy discount.

• Raise your deductible. Raising your deductible is an easy way to save on your insurance costs. Just make sure you can afford to pay that deductible if you ever have to file a claim.

• Shop around. Every insurance company is slightly different, so it’s a good idea to compare quotes from at least three different companies before choosing an insurer. This will help you find not only cheap insurance but also coverage that meets your needs.

How much homeowners insurance do you need in Nevada?

Nevada law doesn’t require you to purchase homeowners insurance, but if you take out a mortgage on your house, your mortgage lender will. The amount of coverage you need will depend on a variety of factors.

First, you want to calculate the replacement cost of your home and the estimated value of your personal belongings. It’s also important to consider the average labor and material costs in your area since this will affect the repair costs.

You should also think about what your average living expenses would be if your home was temporarily uninhabitable. Loss of use coverage will pay for things like hotel and food costs, and having adequate coverage can greatly reduce your financial stress.

No matter what insurance you end up choosing, it’s important to understand what your policy covers. Understanding the nuances of your plan will ensure you’re covered for everything you want to be.

What are some of the biggest risks when owning a home in Nevada?

Here are the biggest natural disasters Nevada homeowners face: