Like everything else, home insurance rates have been
climbing steadily in recent years. But that doesn’t mean it is
impossible to find affordable Nevada Home Insurance.
By knowing what type of insurance is the right
choice, and comparing quotes from several different
companies, which is as easy as clicking on the “Get
Quotes” button below, Nevada homeowners can still get
great coverage at a great rate.
Home Insurance Basics
Buying home insurance is not required by law in Nevada, but
it still is one of the smartest things a homeowner can do.
Without coverage, homeowners are left holding the bag if
something happens to or on the property. In addition, most
lenders require home insurance if there is a mortgage on the
Nevada home insurance policies cover
five basic areas:
- Dwelling – Damage to the actual home from covered
perils like fire, windstorm, or vandalism.
- Personal Property – Covers the contents of the home,
everything from furniture to clothing, appliances to knick
- Additional Living Expenses – Provides funds to pay for
temporary living expenses while the house is being repaired
following a covered peril.
- Personal Liability – If property belonging to someone
else is damaged on the property, this coverage pays for the
repair or replacement.
- Medical Liability – Pays medical expenses for
individuals outside the family who are injured in the home
or on the property.
Important Facts About Nevada Home
Before buying Nevada home
insurance there are some important things
consumers need to know about most policies:
- Policy Value Amount – remember, it isn’t necessary to
purchase insurance to cover the value of the land.
- Minimum Insurance Level – make sure that the face value
of the policy is at least 80% of the cost of replacing the
home. Having a policy smaller than that could lead to
reduced payouts on anything less than a total loss.
- Actual Cash Value vs. Replacement Cost – Actual Cash
Value coverage deducts depreciation when determining an
item’s value; replacement cost simply pays to buy a new
one. Though replacement cost is slightly more expensive, it
can make a huge difference if many items, including the
house, need to be replaced.
- Personal Property Limits – most policies limit the
amount of coverage for personal property to 50% of the
dwelling amount. There are also limits on the payout amount
for certain types of expensive property, like antiques or
computers. Add a personal property endorsement to the
policy to have full coverage.
- Medical Liability – usually this amount is quite low,
like only $1000, which barely covers anything these days
given current medical costs. It’s a good idea to increase
this coverage area.
- Items Not Covered – most Nevada policies do not cover
situations like broken water pipes outside the home, sewer
backups, or even floods or earthquakes. Make sure to read
the policy closely to know what additional coverage needs
to be added.
Affecting Nevada Home Insurance Rates
Insurance companies use a variety of facts to determine what
rate to charge for home insurance. Paying attention, asking
questions, and installing a few key items can significantly
lower premium amounts.
- Age of the Home – newer homes are cheaper to insure
because new heating, electrical or plumbing systems break
down less often. Upgrading or replacing those systems will
result in reduced premiums.
- Security and Safety Devices – discounts are offered for
homes with smoke detectors, fire extinguishers, deadbolt
locks and burglar alarms.
- Fire Protection – Having a highly rated fire department
nearby makes a difference. So does having a fire hydrant on
- Deductible Amount – Raising the deductible, even from
just $250 to $500, will reduce the premiums.
- Discounts – special discounts are available for a
variety of reasons, like the non-smoker discount, seniors
discount, and multi-policy discount (purchasing both auto
and home insurance from the same company). Make sure to ask
Best Way to Save on Nevada Home Insurance
The absolute best way to save on home insurance in Nevada is
to comparison shop. Each company has different rates for the
same coverage, but the only way to find out which is the lowest
is by requesting free quotes. Just click the “Get Quote” button
to be instantly matched with the best home insurance companies
in Nevada, request several free quotes, and soon you’ll have
more money in your pocket. Don’t wait – start saving now!
For more home money saving ideas, visit Saving Money on