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Nevada drivers are always looking for a way to save money whether it’s finding an affordable interest rate when purchasing a new car or an affordable insurance rate for their new car. The average cost of an insurance policy in Nevada is around $2,000 for a household. It’s not the cheapest in the country by any means, but it’s not the most expensive. Keep in mind this price is only a benchmark for what you might pay. There are many factors that contribute to the cost of a consumer’s insurance premium. To get the best possible rate for your insurance, knowing what your insurance company looks for when considering how much to charge you.

Credit Score

You aren’t going to find yourself denied an insurance policy because you have bad credit, but you will find it’s far more expensive to pay for insurance when your credit falls into the subprime category. It’s not easy to get a good rate when your credit is poor. Insurance companies look at this as an indicator of the kind of person you are responsibility-wise. They want to know if you’re going to pay them their premium each month, if you’re going to make a lot of claims, and if you’re the kind of person who is inexpensive to insure. The lower your score the higher your premium.

Your Home Address

For three reasons, insurance companies check out the status of your home address. They want to know if you live in a safe neighborhood. If you live somewhere the economy is bad, the crime rate is high, or you live exceptionally far from where you work, you’ll pay higher premiums. In bad economic neighborhoods, cars are more likely to end up damaged during break-ins, stolen, or hit by someone who isn’t insured. If you live far from work, you’re a greater risk based on how often you are on the road commuting to and from the office.

Your Age, Gender, and Marital Status

Unfortunately, there’s very little you can do about any of this, but there is a chance you can get a better rate if you fall into any of these categories. To get the best rate based on this information, you’ll want to be a young woman, an older man, and/or married. These are the people who are considered more responsible, more likely to stay safe on the road, and less likely to end up filing claims or getting numerous tickets.

Your Driving Record

This should come as no surprised to Nevada drivers, but car insurance companies want to know if you’re a good driver or not. If your driving record is filled with bad driving habits such as tickets, infractions, and accidents, you aren’t considered a very good driver. Since insurance companies pay out big bucks based on your driving habits, they want to charge you more for being unsafe on the road.

Your Car

New cars are the least expensive to insure. They have the best safety features, the newest options, and they’re less dangerous. Bigger cars are often considered safer because you are less likely to become injured in an accident in a large car. The same is not true of any car with a big engine, however. A V6 is far less expensive to insure than one with a V8, and a 4-cylinder is going to be your cheapest bet. Older cars have more mechanical issues as they age, and it’s often more difficult to find parts for cars of this nature.

If you’re in the market for a new insurance policy, keep two things in mind. Your current insurance company might match or beat the offers given to you by other companies for the simple fact they don’t want to lose a long-time customer with a great account. The second is you can save a few hundred dollars in fees each year by opting out of paper correspondence, by paying your premium at least six months in advance, and by always paying on time. It’s a great way to lower costs and get the best rate no matter how your credit or driving history looks.