Best Nevada Homeowners Insurance Quotes (2024)

Universal Insurance Company has some of the cheapest homeowners insurance in Nevada, with average annual premiums of $888.

Jamie Johnson
Written byJamie Johnson
Jamie Johnson
Jamie Johnson
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Ashley Cox
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Andrew Huang
Data reviewed byAndrew Huang
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Updated August 15, 2024

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The average cost of home insurance in Nevada is $1,224 for a policy with $300,000 in dwelling coverage and a $1,000 deductible, which is well below the national average of $2,377.

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.

Quick Facts
  • Universal Insurance Company, Travelers, and American Family are the cheapest insurers for Nevada homeowners.

  • Nevada homeowners with older homes pay a yearly average of $1,228 for a policy with $300,000 in dwelling coverage, and Nevada condo owners with $400,000 in dwelling coverage pay $1,285 per year, on average.

  • Nevada homeowners face a risk of wildfires, flooding, and earthquakes. Standard home insurance policies don’t cover flood or earthquake damage, so it’s important to make sure you have adequate coverage.

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.

Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual Premium
Best For
Universal Insurance CompanyNR$888Cheapest rates
Travelers7.8$908Endorsements
American Family8.6$984New homes
State Farm8.2$1,142Overall value
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

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.

Pros
  • Offers the cheapest rates in Nevada

  • Provides comprehensive insurance coverage

Cons
  • AM Best financial strength rating of B+ (Good), which is lower than many insurers

  • Doesn’t advertise any discounts on its website

Best insurer for endorsements: Travelers

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.0/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
829
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$75/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$118/mo

Travelers provides the basic coverages you’d expect to see in a home insurance policy, like dwelling, personal liability, and loss of use coverage. But the company’s add-on coverage options allow you to create a truly customized policy. For example, homeowners with collectibles may want jewelry and valuable items coverage. And if you choose green home coverage, Travelers will cover the cost to repair or rebuild your home using green materials.

Pros
  • Many different endorsements available

  • Offers a protective device discount

Cons
  • Below-average J.D. Power customer satisfaction rating

  • Discounts vary by state

Best insurer for new homes: American Family

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.1/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
840
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$86/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$117/mo

Southern Nevada, which includes cities like Las Vegas and Boulder City, is on track to build 11,000 new homes in 2024.[1] Homeowners purchasing new construction may benefit from getting home insurance through American Family. If your home is less than 15 years old, or if you’ve recently renovated your electrical and heating systems, the company may offer you a discount.

Pros
  • Wide variety of coverage options

  • Offers more discounts than other insurers

Cons
  • May include a banned dog list

  • Below-average J.D. Power customer satisfaction rating

Best insurer for overall value: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$91/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$138/mo

State Farm is America’s largest insurer, and it provides the best overall value for Nevada residents. J.D. Power rates the company highly for customer satisfaction, and State Farm also provides a user-friendly website and mobile app. You can purchase extra dwelling coverage in case it costs more to repair or rebuild your home following a covered peril. And Nevada residents can get a free ADT home security system without any long-term commitments.

Pros
  • Above-average J.D. Power customer satisfaction rating

  • Many coverage options available

Cons
  • You must sign up through an insurance agent

  • Doesn’t offer as many discounts as other insurers

Find Cheap Home Insurance in Nevada

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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.

Insurance Company
Average Annual Premium
Universal Insurance Company$888
Travelers$908
American Family$984
Allied$1,097
Capital Insurance Group$1,121
State Farm$1,142
USAA$1,216
COUNTRY Financial$1,268
Allstate$1,334
Farmers$1,502

Cost of homeowners insurance in Nevada

In Nevada, the average cost of home insurance is $1,224, 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.

Coverage Limit
Average Annual Premium
$100,000$628
$200,000$919
$300,000$1,224
$400,000$1,607
$500,000$2,020

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.

Deductible Amount
Average Annual Premium
$500$1,287
$1,000$1,224

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.

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

Here are the biggest natural disasters Nevada homeowners face:

  • illustration card https://a.storyblok.com/f/162273/x/1883c5aa7c/fire-and-lighting.svg

    Wildfires

    Hundreds of wildfires occur each year in Nevada, and the 2018 Martin and Sugarloaf fires burned nearly 1 million acres in the northeast part of the state. Nevada is one of the driest states in the U.S., which causes frequent droughts and increases the likelihood of wildfires.[3] You can prepare by ensuring your home insurance provides adequate coverage for wildfire damage.

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Floods

    Despite the state’s propensity for droughts, Nevada is also at risk for flash floods. Flooding can cause structural damage, foundation cracks, and damage to the water supply, HVAC systems, and plumbing. A standard homeowners insurance policy doesn’t cover flood damage, so if you live in a flood zone, you may want to buy a separate policy through the National Flood Insurance Program (NFIP) or through a private insurer.

  • illustration card https://a.storyblok.com/f/162273/x/a0c151e1ba/accidental-tearing-apart-cracking-etc.svg

    Earthquakes

    Nevada is the third most seismically active state in the country.[4] Earthquakes can occur without warning and, depending on the magnitude, cause fires and landslides. Homeowners insurance doesn’t typically cover earthquake damage, so you may want to look for a separate earthquake endorsement to protect your property.

Nevada homeowners insurance FAQs

If you’re shopping for home insurance in Nevada, this additional information may help as you research your coverage options.

  • How much is home insurance in Nevada?

    Home insurance in Nevada costs an average of $1,224 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible, Insurify data shows. But your rates will vary depending on many factors, including your ZIP code, the age of your home, the square footage of your home, and the coverage levels you choose.

  • Which company has the cheapest homeowners insurance in Nevada?

    Universal Insurance Company has the cheapest homeowners insurance in Nevada, with annual premiums averaging $888. Travelers and American Family also offer affordable coverage, with respective annual premiums of $908 and $984.

  • Does Nevada require homeowners insurance?

    No. Nevada doesn’t require homeowners insurance, but your lender will require it if you have a mortgage on your home. Even if you’ve paid off your mortgage, you should still carry home insurance so that you’re protected financially if something damages your home and you have to make costly repairs.

  • What does homeowners insurance in Nevada typically cover?

    A special form, or HO-3, policy is the most common type of home insurance. It covers damage to the structure of your home and other structures, your personal belongings, personal liability if someone is injured on your property, and additional living expenses if you have to move somewhere temporarily while your home is being repaired.

Sources

  1. Las Vegas Review-Journal. "‘Not normal is our normal’: New home builds steady despite Southern Nevada market."
  2. Insurance Information Institute. "12 Ways to Lower Your Homeowners Insurance Costs."
  3. Nevada Legislature Research Division. "Wildfires in Nevada: An Overview."
  4. Nevada.gov. "Earthquake Information."
Jamie Johnson
Jamie Johnson

Jamie Johnson is a Kansas City-based personal finance writer whose work has been featured on several of the top finance and business sites in the country, including Insider, Credit Karma, Bankrate, Rocket Mortgage, Fox Business, Quicken Loans, and The Balance. For the past six years, she's dedicated more than 10,000 hours of research and writing to more than 2,000 articles about personal finance topics.

Ashley Cox
Edited byAshley CoxSenior Managing Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

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Andrew Huang
Data reviewed byAndrew HuangVP, Marketing & Analytics
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVP, Marketing & Analytics
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

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