Everything is bigger than life in Vegas, including the cost of living. The entire state of Nevada is more expensive than the U.S. average cost of living, and yet the average rate of Nevada renters insurance ($174) is not much different from the national average of $180 in 2017, making it more affordable than ever to protect your things.
Renters insurance is an essential part of renting any property because it protects you from liability if damage happens. It not only protects your valuables, but it also covers any damages to the property that may occur.
Nevada renters insurance is not required, but it is highly recommended given its extremely low monthly premium and widespread coverage. You can sleep better at night knowing your home is safe and protected.
Best rental insurance companies in Nevada
Nevada is prone to damage from lightning, extreme winds and flooding. Renters insurance not only covers your home and your belongings, but it also covers incidents where a visitor experiences damage to themselves or their belongings. Your Nevada renters insurance company will handle the medical expenses and any property reimbursement.
Insurance policies will vary depending on your needs, and there is a wide variety of coverage that is available to you.
We did the research and found these five companies are the best Nevada renters insurance companies:
- American Family
- Country Financial
- State Farm
- Travelers
State Farm and Travelers are nationally known as reliable renters insurance companies, but Nevada welcomes some lesser-known names that are setting the bar higher. The best Nevada renters insurance companies are affordable and offer superior customer service.
J.D. Power and the Better Business Bureau (BBB) judge a company by their customer satisfaction, taking into account things like the kinds of policies available, pricing and claims processing. AM Best measures a company’s financial stability, which can significantly affect how well your claim and reimbursements are handled.
Rankings for best renters insurance companies: Nevada
| Company | J.D.Power | AM Best | BBB |
|---|---|---|---|
| Travelers | 2 out of 5 | A+ (Superior) | A+ |
| Country | Unranked | A+ (Superior) | A+ |
| State Farm | 5 out of 5 | A++ (Superior) | A+ |
| American Family | 5 out of 5 | A (Excellent) | A |
Best for bundle policy options: Country
Country offers fantastic Nevada renters insurance with tiered pricing bundled into two different cheap renters insurance packages, Basic and Premier. It allows higher amounts of liability, offering up to $1 million in coverage. Multi-policy insurance becomes even cheaper.
Best for affordable coverage: American Family
American Family is J.D. Power’s #1 pick for home insurance, surpassing all other renters insurance companies in customer satisfaction, pricing, offerings and billing.
American Family Insurance offers multi-faceted coverage, making it easy to bundle your best Nevada renters insurance policy with life insurance and plans for your car, motorcycle and RV. There’s travel protection and pet insurance. American Family can tend to all of your needs while also providing affordable insurance rates.
Best for customer service: State Farm
State Farm is known for its customer satisfaction rates. It got 5 out of 5 in nearly all areas from the J.D. Power ratings, including for overall satisfaction.
Best for multiple products: Travelers
Travelers is one of the largest providers for auto and home insurance, so this company is a good option if you’d like to work with one company for your all your policies.
Unlike many states, Nevada’s best cheapest insurance companies are among the top-rated in the country. With straight A’s in financial stability and customer reviews, these companies offer the most affordable renters insurance for your home and belongings.
It makes renters insurance more attainable without making a massive dent in the budget.
The average for Nevada cheap renters insurance is $179 per year, but the best cheap renters insurance companies come in below that price.
These are the average annual premiums for Nevada’s best cheap renters insurance companies
- Country: $116
- American Family: $131
- Travelers: $134
- State Farm: $152
Coverage usually includes $15,000 in personal liability and $30,000 in property liability, but these numbers can increase based upon your needs. To make things more budget-friendly, you can also adjust your coverage to protect your home adequately.
Frequently asked questions
How much renters insurance do I need in Nevada?
Nevada does not require its residents to have car insurance or renters insurance. Landlords are free to make their own rules, however, and many properties require renters insurance before you move in. If your landlord requires a certain amount, start with that required coverage. If you aren’t required to have renters insurance but want it, do a home inventory to decide how much coverage you need to cover your belongings.
What is the best renters insurance company in Nevada?
Which company is the best for you will depend on your budget and needs. Nevada is home to some of the country’s best cheap renters insurance companies. The companies listed here boast high scores in customer satisfaction.
To choose the right policy for you, look at the eligible discounts to see if there is a lower price. You can also look for special add-on coverage that you may need from a specific insurance provider.
What does renters insurance include?
The reason why renters insurance is so important is that it protects your home. Renters insurance will cover your damages to your rental property, your belongings and liability if a guest gets injured at your apartment
Is renters insurance worth the money?
You spend a fortune on your rent and utilities, so why not protect your home too? It is a minor expense when compared to the consequences of no insurance in times of trouble. Most policies will cost you little more than your morning coffee!
The post The Cheapest Nevada Renters Insurance Companies 2019 appeared first on The Simple Dollar.
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