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Reno, NV Homeowners Insurance

Reno made its way to the top of the best small U.S. cities list in 2020, so if you’re moving to the city, you’ve made a great choice. “The Biggest Little City in the World” lies just 10 miles east of the California border, 25 miles from Nevada ’s capital, Carson City, and roughly 345 miles northwest of Las Vegas. Tourists love the city for its casinos and the annual Burning Man festival that takes place about 90 miles north of Reno. But locals have a deeper appreciation of Reno ’s art scene, small-town atmosphere, and proximity to nature, with hiking trails, hot springs, and Lake Tahoe all just a quick drive away.

Reno is also home to a University of Nevada campus and museums of art, history, and automobiles. And every year, the city puts on festivals like Artown and Hot August Nights, so you’ll never have to wonder how to spend a weekend in the Reno – Sparks area. But life in the desert is full of risks, and northern Nevada is prone to perils like earthquakes, wildfires, and even floods.

If you’re looking for property protection savings or shopping for home insurance for the first time, Insurify can help you get the perfect policy and the best premiums. Compare home insurance quotes and insurance agencies with Insurify’s comparison tools to find the best home insurance policy for you in just a few minutes.

Cheapest Home Insurance Companies in Reno

For homeowners in Reno, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Reno. The following are the best insurance rates from carriers that offer homeowners insurance in Reno.

Cheapest CompaniesQuotes
The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.
American Family$844
State Farm$1,307

How to Find Cheap Home Insurance in Reno

The median price for existing single-family homes in Reno just hit $500,000, so if you’re in the market for a new home, it’s going to cost you. If you thought buying a Reno home was stressful, then you’re in for a treat when it comes to taking care of your humble abode.

Nevada homeowners have to protect their property from wind, dust storms, and snow, and certain Reno neighborhoods have high wildfire and flood risks. Luckily, the best homeowners insurance coverage will protect your home from these perils and more.

If you have a mortgage, your lender will likely require that you insure your home, but home insurance isn’t legally required like car insurance is. Whether or not you’re required to purchase a policy, Nevada homeowners insurance helps pay for property damage caused by natural disasters and vandalism and replaces stolen belongings after burglaries. Plus, home insurance includes liability coverage to protect your family if someone is hurt on your property, and it can even pay for medical costs or additional living expenses while your home is repaired.

You can cater every part of your policy to fit your home’s specific insurance needs—from your coverage options to your deductible and even additional coverages. So keep reading for a full guide on Reno home insurance.

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Cheapest Home Insurance in Reno by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.

As of 2021, the average home insurance premium in Reno costs $3,195 annually, and the median home value is 438,326.

Home insurance rates in Reno are cheaper than in other cities like Las Vegas and even nearby Sun Valley. But you can save even more depending on which homeowners insurance company you choose.

Finding the cheapest premiums with companies like Allstate, State Farm, and Liberty Mutual is easy with Insurify. Make sure to get a quote from local agents and compare your potential insurers ’ financial strength and J.D. Power customer satisfaction ratings before you decide on a policy.

Average Home Cost in Reno
The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.
Average Annual Insurance Premium in Reno
The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.

Average Annual Home Insurance Premium in Reno by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest ZIP Codes in Reno for Home Insurance

If you’ve lived in the Reno – Sparks area for a while, you know that every neighborhood is different. Crime rates, natural disaster risk, and even the cost of homes range drastically from downtown to Cold Springs.

Home insurance prices are based on these ZIP code–specific variables, too. That’s why home insurance rates in northeast Reno are more expensive than rates in the northwest.

Rates in Reno are on par with the national average, but you could be left paying more or less depending on the specific area you live in.

Home Insurance Coverage Types in Reno

There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:

  • The simplest and least comprehensive type of homeowners insurance

    Provides coverage for a handful of potential problems, including

    • Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
    • explosions,
    • theft,
    • damage from vehicles,
    • or civil commotion.
  • Broad form homeowners insurance policies include all basic form coverage, plus protection from:

    • falling objects,
    • damage from the weight of ice, snow, or sleet,
    • freezing of household systems including HVAC and pipes,
    • sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
    • accidental discharge or overflow of water or steam,
    • sudden and accidental damage.

    HO-2 policies typically cover both dwelling protection and personal property.

    In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.

  • The most common form of homeowners insurance is known as a “special form” policy.

    While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.

  • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.

    Tenant’s form policies typically cover all the same dangers as HO-2 policies.

    These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.

    Some HO-4 policies may also include loss of use coverage for the tenants.

  • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.

    The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.

    An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).

    HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.

  • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.

    They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.

    These policies also include personal property and liability coverage and may include loss of use coverage.

  • If you own a mobile home or manufactured home, you likely have an HO-7 policy.

    Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.

    Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.

    HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.

  • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.

    HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.

    Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

For more detailed Nevada city level guides, check out these below.

Protecting Your Property from Wildfires

Downtown Reno is relatively safe from wildfires, but for homeowners on the outskirts of the city, fire is a serious risk. Most basic home insurance policies include fire as a covered loss, so the average Nevada homeowner is covered. Still, it’s important to know just how much coverage your home insurance policy actually includes and how you’ll be reimbursed for losses.

Your policy should have enough coverage to completely rebuild your home and replace all of your belongings in case of a total loss. The best way to calculate this value is by taking a home inventory of your most valuable possessions and calculating the cost of rebuilding homes in your neighborhood.

Once you know how much you’re covered for, you can start looking into how your policy pays out insurance claims. Most homeowners policies offer actual cash value coverage, meaning your insurer is only responsible for replacing your belongings at their condition prior to being damaged or stolen. For older items, this means you are only paid the depreciated value of your belongings based on their age and expected lifespan.

Replacement cost coverage, on the other hand, pays the total cost of repairing or replacing your belongings, regardless of their prior age or condition. If you want to make sure your family’s possessions are completely covered, a comprehensive home insurance policy with replacement cost coverage will give you peace of mind. These policies come at higher premiums, but if you anticipate relying on your insurance coverage, replacement cost is worth every penny.

You can also ask your insurance agent about additional coverage and separate fire insurance options if you’re looking for even more protection.

Flood Insurance in the Driest State

Nevada may get less than 10 inches of rain each year, but the Truckee River that runs through Reno leaves homeowners throughout the city vulnerable to floods. Since home insurance doesn’t cover flood damage, Reno homeowners should consider purchasing flood insurance.

Washoe County participates in the National Flood Insurance Program, so Reno residents can purchase flood coverage regardless of whether they live in one of the Federal Emergency Management Agency’s designated flood zones.

You can purchase flood insurance through the NFIP or with your private insurance company. Flood insurance policies have a 30-day waiting period before coverage kicks in, so make sure you’re prepared well before the next flood.

Gambling in Reno should be a little risky. Finding Reno home insurance coverage doesn’t need to be.

How to Find the Cheapest Home Insurance in Reno

“The Biggest Little City in the World” has everything you could ever need, but make sure you properly protect your home before you decide to never leave. With Insurify, you can be sure you’ll find the perfect Reno home insurance policy as quickly as possible so you can get back to exploring Reno in no time.

Frequently Asked Questions

  • Can insurance companies turn down homes in high-risk areas?

    Unfortunately, yes. Home insurance companies can choose not to cover homes that are risky to insure. Whether you have an older home or live in an area prone to natural disasters, it might be hard to find affordable homeowners coverage. Since Nevada doesn’t have a Fair Access to Insurance Requirements (FAIR) Plan, homeowners who can’t obtain private insurance coverage have to seek coverage with surplus lines insurers.

  • Does my Reno home insurance cover earthquake damage?

    Home insurance does not include earthquake coverage. If you’re looking for ground movement protection, most insurers offer earthquake coverage at higher premiums, so ask your insurance agent about your earthquake options.

  • How can I save on home insurance in Reno, Nevada?

    Insurance companies offer various discounts so policyholders can save on their premiums. Common ways to save include installing a home security system, adding deadbolt locks to your external doors, and bundling your home and auto insurance policies.

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Jackie Cohen
Jackie CohenEditorial Manager

Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.

Jackie's work has been cited in USA Today, The Balance, and The Washington Times.