If you’re shopping for homeowners insurance in Las Vegas, you’ll likely pay significantly less for a standard policy than you would in many other states. Homeowners in Vegas pay an average of $1,399 per year for a home insurance policy with a $1,000 deductible and $300,000 in dwelling coverage, Insurify data shows.

While its rates for standard coverage are affordable, Las Vegas is also prone to earthquakes, so you may need to pay extra for an add-on or stand-alone earthquake insurance. Here’s what you need to know about comparing home insurance quotes and finding coverage in Sin City.

Best home insurance companies in Las Vegas

Many top homeowners insurance companies offer coverage in Las Vegas, so you’ll have plenty of options available. The best home insurance company for you depends on your unique situation and needs.

Cheapest rates: Travelers

Best insurer for earthquake coverage: American Family

Best insurer for vacation homes: Foremost

Best insurer for discounts: State Farm

Cheapest home insurance in Las Vegas

Travelers offers the cheapest home insurance coverage, with Las Vegas homeowners paying around $897 per year. North Las Vegas residents pay even less for homeowners policies from Travelers, at an average of $803 annually.

Here are some other top insurance companies offering affordable coverage. Rates shown are for policies with a $1,000 deductible and $300,000 in dwelling coverage.

Cost of homeowners insurance in Las Vegas

The average cost of homeowners insurance in Las Vegas is $1,399 per year, but your insurance company will consider many factors when determining your insurance rates, including your ZIP code, home age and type, and home features.2

The amount of dwelling coverage, liability insurance, personal property coverage you want, and your chosen deductible will also affect the cost of your insurance. Here’s a breakdown of how different factors could influence your homeowners insurance rates.

Cost of homeowners insurance by dwelling coverage amount

As with most things, more insurance coverage costs more money. So if you opt for a higher dwelling coverage amount, your home insurance premiums will also be higher. But a higher cost doesn’t mean you should opt for a lower coverage limit. Ideally, your dwelling coverage should equal the cost of replacing your home in the event of a total loss.

Here’s a look at how different dwelling coverage limits affect annual premiums. Rates shown are for policies in Nevada with a $1,000 deductible.

Cost of homeowners insurance by deductible

When you get homeowners insurance, you can also generally choose your deductible, which is the amount you pay after filing a claim before your home insurance kicks in. Certain insurance companies may offer deductibles as low as $500 or $1,000.3 But opting for a higher deductible could help reduce the cost of your insurance premiums. Lower deductibles typically result in higher premiums.

Here’s how your home insurance deductible could affect your insurance prices in Las Vegas. Rates shown are for a policy with $300,000 in dwelling coverage.

How to get cheap homeowners insurance in Las Vegas

You have several strategies to consider if you’d like to get cheap homeowners insurance in Las Vegas. Most importantly, though, you should compare quotes from different companies, as costs differ depending on the insurance company you choose.

Here are some other helpful tips for saving on your home insurance:4

• Choose a higher deductible. Opting for a higher deductible on your policy could help you save on your premiums. But remember: You need to ensure you can afford your deductible if you need to file a claim after a covered loss. Don’t choose a deductible that’ll stretch your budget too far.

• Install home safety features. Many insurance companies offer special discounts for homeowners who install certain safety features. For example, you might get lower premiums if you have a sprinkler system, home security system, and smoke detectors. While these things come with an up-front cost, they could save you money over time.

• Ask prospective insurers about discounts. Besides discounts for home safety features, many insurers also offer other discounts. Common ones include bundling different insurance products, claims-free, loyalty, paperless statements, and paid-in-full discounts. Taking advantage of these can help you save a decent sum on your insurance.

Nevada homeowners insurance rates by city

Homeowners insurance rates in the state of Nevada also vary by city, with Las Vegas residents paying some of the highest rates in the state. Because Las Vegas is such a popular tourist destination, insurance companies may view the area as more prone to break-ins and theft, leading to higher homeowners insurance costs.

Insurance companies also consider area crime rates, severe weather or natural events, proximity to public safety services, home materials, and more when determining insurance costs.

Here’s how average premiums compare in other Nevada cities for policies with a $1,000 deductible and $300,000 in dwelling coverage.

How much homeowners insurance do you need in Las Vegas?

If you plan to take out a mortgage or have an existing one on your Las Vegas home, your mortgage lender will require you to have a home insurance policy. The amount of homeowners insurance you need will depend on how much dwelling and personal belongings coverage you need as well as other factors.

Whether you’re working with an independent insurance agent or comparing quotes on your own, it’s important to understand exactly what your home insurance policy covers. For instance, most standard policies don’t cover earthquake or flood damage, and both of these things are relatively common in Las Vegas. Read the fine print to ensure you understand your insurance policy terms and have the type of coverage you need.

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

Las Vegas has a desert climate, which means it’s typically hot and dry. This could put your home at a higher risk of fire, but you should also be aware of other potential natural disasters and risks when you’re purchasing a homeowners policy.

Here are some things your Las Vegas home might be susceptible to: