Most major insurers write homeowners policies in Nebraska, where homeowners enjoy low annual rates compared to national averages.
In our comprehensive search, we looked for insurers that offer the best combination of customer care, discount programs, financial stability, policy offerings and price.
In the end, we pared down the list to include only the best companies, which include Allstate, American Family, Farmers, State Farm and USAA.
The 5 Best Homeowners Insurance Companies in Nevada
|State Farm||Allstate||Farmers||American Family||USAA|
|Our review||Our review||Our review||Our review||Our review|
|A.M. Best Financial Strength Rating||A++ (Superior)||A+ (Superior)||A (Excellent)||A (Excellent)||A++ (Superior)|
|J.D. Power Overall Customer Satisfaction Score||831/1000||814/1000||808/1000||808/1000||878/1000|
|Online Quote Tool||✓||✓||✓||X||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Nevada
Nevada homeowners pay an average annual insurance premium of $755, according to data from the Insurance Information Institute (III). This is well below the national average, $1,228.
Always take average rates with a grain of salt, because insurance companies base premiums on several factors, including, the age and construction of your home, your location and your credit score.
Oftentimes, you can lower your home insurance rate with discounts. Insurers offer all types of discounts for home safety devices, purchasing multiple policies, remaining claims free, and paying your premium in full.
However, if you live in an area prone to wildfires, providers may charge higher rates due to elevated risks.
Home Insurance add-ons that will further protect you
Typically, standard homeowners policies include dwelling, liability, loss of use, medical payments and personal property coverages. But for maximum protection, you may consider adding a few optional coverages, including:
Additional personal property coverage – Insurers limit the amount they will pay to repair or replace certain types of personal property. If you own expensive items, like antiques, fine art or musical instruments, you may need to add additional personal property coverage.
Business property coverage – Your standard homeowners policy may not provide enough coverage to pay for expensive business equipment such as computers. If you have a home office, you may need the added protection of business property coverage.
Earthquake insurance – Most standard home insurance policies don’t cover earthquake damage. Although major earthquakes don’t occur every year in Nevada, dozens of faults lie along its Western border, so consider adding earthquake insurance to your home’s coverage.
Flood insurance – Insurance providers don’t typically cover flood damage in their standard policies. If you live in a low-lying area, consider purchasing a flood insurance policy through your insurer or the National Flood Insurance Program.
Identity theft protection – Many insurance companies offer identity theft protection as an addon to your homeowners policy. Some companies cover the cost of restoring your credit, while others provide credit monitoring service, too.
Replacement cost coverage – Most standard home insurance policies pay actual cash (or depreciated) value to rebuild your home or replace damaged or stolen personal property. But if you purchase replacement cost coverage, the provider will pay to rebuild your home or replace your personal property at current costs, subject to your policy’s deductible and limits.
Water backup coverage – Standard home insurance doesn’t typically pay for damages caused by backed-up drains or sump pumps, but water backup coverage does.
Helpful Resources for Nevada Homeowners
J.D. Power’s annual research provides a perfect place to start looking for home insurance. Power’s annual U.S. Home Insurance Study rates and ranks insurance providers based on how they perform in areas such as pricing, customer service, policy offerings and billing.
To learn more about Nevada homeowners insurance, check out the following resources:
- Nevada Division of Insurance: Homeowners Insurance
- Nevada Division of Insurance: Home Insurance Nevada Consumer’s Guide
- Nevada Division of Insurance: Insurance Company License Lookup
- Nevada Insurance Code: Chapter 691A – Property Insurance
- FEMA: National Flood Insurance Program
- Insurance Information Institute: Homeowners + Renters Insurance
- National Association of Insurance Commissioners: A Consumer’s Guide to Home Insurance
- National Association of Insurance Commissioners: Insurance Company License Lookup Tool
- AM Best
- Standard & Poor’s
We began our search for the best home insurance companies in Nevada by reviewing market share data compiled by the Insurance Information Institute and the National Association of Insurance Commissioners.
While market share indicates how well a company performs in the insurance market, it doesn’t paint a complete picture.
Quality customer care is a major factor consumers look for in an insurance company, particularly when purchasing policies for their homes.
All the insurers on our list have earned an A+ Better Business Bureau rating, apart from USAA, which has no BBB rating.
We also considered each company’s financial strength, which is an indicator of whether or not an insurer can pay out claims. The providers we chose have all earned an “A” or higher rating from AM Best, a global leader in the credit rating industry.
Market research company J.D. Power conducts annual surveys of home and auto insurance companies. Our top Nevada home insurance providers all received good scores on J.D. Power’s 2019 U.S. Home Insurance Study, which rates and ranks an insurer’s performance in areas such as billing process, price, policy offerings, customer care, and claims handling.
|Rank||Customer Satisfaction Rating|
|State Farm||4||4 out of 5 stars|
|Allstate||5||3 out of 5 stars|
|American Family||9||3 out of 5 stars|
|Farmers||10||3 out of 5 stars|
|USAA||Not ranked*||5 out of 5 stars|
*Although USAA scored 5 out of 5 stars in all categories, it only offers home insurance to military members and their families, so it doesn’t qualify for J.D. Power ranking.
Best Nevada Homeowners Insurance Companies
- Local agencies
- Mobile app
- Limited homeowners discounts
State Farm is a top contender on our list as it has an abundance of local offices and agents ready to help your every insurance need. In addition, it’s mobile app is one of the most successful in the industry.
Two considerations to keep in mind though; homeowners discounts are limited to just a few, and the providers annual premiums are higher than other providers on our list.
- Claims filing
- Allstate mobile app
- Senior discounts
- Credit-based insurance scoring
Credit-based insurance scoring is one factor you will need to be mindful of, as Allstate may raise premiums if your credit scores are low.
- Farmers Smart Plan Home
- Farmers website
- Customer satisfaction rating
However, although Farmers ranked among the top 10 insurers in J.D. Power’s 2019 Home Insurance Study, it only earned average ratings in customer satisfaction, scoring ⅗.
- Homeowners packages
- Identity Theft Protection and Restoration
- No online quotes
Although American Family does not provide an option to obtain a quote online like most major carriers, there are a few positive features that we think make it worth your consideration.
For one thing, American Family allows members to choose among three different types of packages based on your preferences for budget and coverage. Additionally, it offers multi-policy, new construction, and other unique discounts. Lastly, it’s optional Identity Theft Protection and Restoration coverage is a great perk to help protect yourself even further.
- Replacement cost coverage
- Earthquake coverage
- ADT Home Security System program
- Limited membership
- USAA website
Dwelling and personal property replacement cost coverage is included in all standard USAA home insurance policies, a feature few insurers offer. In addition to this, USAA provides earthquake coverage in all its standard home insurance policies. Special discounts are also provided through its partnership with ADT Home Security Systems.
There’s no doubt that USAA provides superior homeowners insurance, but it only offers policies to military members and their families.
The Cheapest Homeowner Insurance Companies in Nevada
We conducted an exhaustive comparison of Nevada homeowners insurance companies and found a wide range of annual rates.
|Homeowner Insurance Companies||Average Annual Premium|
|Universal North America Insurance Co.||$568|
|Nevada Capital Insurance Co.||$639|
|American Family Insurance||$661|
Homeowner Insurance by Age of Home
Typically, insurers offer the best rates for newly constructed homes. How will your home’s age affect your homeowners premium?
|Age of Home Tier||Average Annual Premium|
|Average Across Ages||$1,007|
Quadrant home insurance rate data as of 3/29/2020.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Nevada
- Farmers Insurance – $458
- Universal North American Insurance Co. – $568
- Nevada Capital Insurance Co. – $639
Top 3 Most Expensive Homeowner Insurance Companies in Nevada
- Liberty Mutual – $1,231
- State Farm – $892
- Country Financial – $862
The prices listed here might not accurately reflect the rate an insurer will offer you. For the most accurate price, request quotes from several insurance companies. Providers apply several factors when determining homeowners insurance rates, including:
- Age of a home
- Type of construction
- Location of a home
- Proximity to the nearest fire station or hydrant
- Special features such as imported fixtures or a swimming pool
- Homeowner’s credit score
Homeowners Insurance FAQ
Is homeowners insurance required in Nevada?
No. State law does not require you to buy homeowners insurance. But, if your house has a mortgage, the lender will require you to carry home insurance.
What is the cheapest homeowners insurance in Nevada?
Based on our research, Nevada insurers offering the lowest average annual home insurance premiums include Farmers Insurance, Universal North America Insurance Company, Nevada Capital Insurance Company.