Average car insurance cost in Reno, NV

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Based on an analysis by Insure.com, the typical car insurance expense in Reno, Nevada is $1,960 annually. Furthermore, car insurance premiums in Reno are $100 less than compared to the state average in Nevada and $65 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Reno, the average car insurance rates by age and gender, and the costs in Reno based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Reno. Keep reading to learn more.

Cheap car insurance companies in Reno

State Farm offers the most affordable car insurance in Reno for coverage limits of 100/300/100 at $1,258 per year.

The Geico comes close second offering car insurance at $1,565 per year.

As mentioned previously, car insurance quotes differ amongst companies due to the factors they consider when determining rates. Hence, it’s advisable to obtain quotes from multiple insurers to find affordable car insurance rates in Reno that align with your needs before finalizing your insurance carrier.

Here are the average annual and monthly costs for the various car insurance companies providing coverage in Reno, Nevada:

Read about the best car insurance companies.

Average car insurance cost in Reno by coverage limits

The average car insurance rates in Reno by coverage type are as follows:

• State minimum coverage: $601 per year (limits of 25/50/25)
• Liability-only coverage: $925 per year (limits of 50/100/50)
• Full coverage: $1,960 per year (limits of 100/300/100)
• Non-owners coverage: $374 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Reno

Based on an analysis by Insure.com, female drivers in Reno, Nevada pay an average annual car insurance premium of $2,016. In comparison, male drivers pay $1,903 annually, which is $113 less than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Reno

Car insurance rates in Reno, are highest for teens at $8,001 per year or $667 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $3,285 annually for their car insurance, which is $4,716 less than what teens pay for their insurance coverage.

In Reno, adult drivers pay an average of $1,959 per year for car insurance, while senior drivers pay $2,088 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Reno

Examining the trends in car insurance rates in Reno, Nevada, there was an upward trend from 2022 to 2023. Between 2022 and 2023, rates increase overall by 13% or $219.

The table below illustrates the trend over the three years:

Conclusion

In conclusion, the insurance rates in Reno, are lower than the average insurance cost in Nevada. Shopping around and taking advantage of available discounts, drivers in Reno can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.