How much is renters insurance in Las Vegas, NV

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In Las Vegas, renters insurance costs an average of $264 per year for $40,000 in personal property coverage, $300,000 in liability coverage, and a $1,000 deductible, which is $18 more than the statewide average of $246.

It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you rent, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.

Looking for affordable renters insurance in Las Vegas? We’ve compared the top companies to help you find the cheapest options.

Key Takeaways

The average cost of renters insurance in Las Vegas is $264 annually or $22 monthly.
The cheapest option for renters in Las Vegas is CSAA Insurance (AAA), offering coverage at $14 per month.
Renters can reduce their insurance costs by taking advantage of discounts, such as installing a security system or bundling policies.

What is the average cost of renters insurance per month in Las Vegas?

The average monthly cost of renters insurance in Las Vegas is $22, which is $1 more than the state average of $21. This rate is for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Renters insurance rates vary by city depending on the coverage and the insurance company you choose. For example, renters in Las Vegas pay $17 monthly for $20,000 in personal property coverage with a $1,000 deductible. If you increase your personal property coverage to $40,000, the cost will rise by $5.

Higher coverage limits are recommended if you own valuable items like jewelry, furniture, and electronics.

How much is renters insurance in Las Vegas by deductible?

The average cost of renters insurance in Las Vegas is $226 annually for a $500 deductible and $20,000 in personal property coverage

Your deductible is the amount you must pay out of pocket before your insurance kicks in. If you raise your deductible, your premiums will decrease. For example, if you maintain $20,000 in personal property coverage but increase your deductible from $500 to $1,000, you’ll save $23 annually on your insurance.

Below, you’ll find average renters insurance premiums for different personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$226	$295	$371
$1,000	$203	$264	$331

Note: Liability coverage is set at $100,000.

Who offers cheap renters insurance in Las Vegas?

Your search for affordable renters insurance ends here.

CSAA Insurance (AAA) has the lowest rates in Las Vegas, with an annual premium of $173 a year or $14 per month. Based on our data, Universal Insurance Co and American Family also offer cheap rates.

Below, you’ll find the average annual and monthly rates for cheap renters insurance companies in Las Vegas.

Renter insurance provider	Average annual rate	Average per month rate
CSAA Insurance (AAA)	$173	$14
Universal Insurance Co	$245	$20
American Family	$254	$21
Farmers	$278	$23
State Farm	$290	$24
Nationwide	$309	$26
Country Financial	$318	$27
USAA*	$151	$13

*USAA is only available to military community members and their families.

Tips for reducing the cost of renters insurance

Below are some tips to help you save on renters insurance in Las Vegas:

Bundle policies. If you have other policies through the same insurer, such as car insurance, bundling it with the same provider can often earn you a discount. Many insurers in Las Vegas offer savings for bundling policies.

Increase your deductible. Choosing a higher deductible can lower your premium, but ensure you’re prepared to cover the higher out-of-pocket costs if you need to file a claim.

Choose the right coverage amount. Regularly review your renters insurance to avoid paying for more coverage than you need. For example, you might opt for lower personal property coverage if you don’t own high-value items.

Limit small claims. Filing multiple small claims can drive up your rates. Consider paying for minor damages yourself to keep your premium low.

Shop around for quotes. Don’t settle for the first offer. Compare renters insurance rates from multiple providers in Las Vegas to find the best coverage at the lowest price.

Renters in Las Vegas should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Las Vegas in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

How much is renters insurance in other cities?

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.