Best and Cheapest Renters Insurance in Nevada for 2024

Renters insurance is a type of coverage that’s helpful yet often misunderstood. While your landlord will have insurance to cover the building you’re renting in Nevada, that insurance won’t cover your personal belongings or liability. If a car drives into your home and burns it to the ground, the homeowners policy would cover the property owner's belongings if they choose that coverage along with the cost to replace the structure. You would lose extra living costs, personal belongings, etc. unless you had a renters policy.

A good renters policy can cover much more than personal belongings. This could include things like medical expenses, additional living expenses, and much more. When you buy it with a multi-policy discount, you may get even more coverage while paying less.

So if you want to ensure you’re properly covered while renting, it’s important to find one of the best Nevada renters insurance companies. But where do you start? In the table above, you can sort through all the renters insurance companies ranked on Clearsurance. The rating next to each company — the insurer’s Clearsurance score — is based exclusively on the thousands of ratings provided by customers.

Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best Nevada renters insurance rankings.

Interested in learning more about one of the companies on the list of the best renters insurance companies in Nevada? You can visit the company’s profile page to find more information about the company and read reviews to learn from the experiences of other policyholders.

On this page:

• Nevada renters insurance rates
• Average cost of renting in Las Vegas
• Renters insurance for Nevada college students
• Nevada property crime statistics

Who offers the best Nevada renters insurance rates?

Out of the most popular renters insurance companies in Nevada, American Family offers the cheapest Nevada renters insurance rates, on average. Policies we checked had the same basic coverage, and American Family has high financial stability ratings in auto insurance, renters insurance, and much more. Whatever your zip code, an agent can see if you're eligible for their coverage or help you explore other options that make sense for you.

In Nevada, renters pay just $162.68 for renters insurance each year. You read right. That's $162.68 for the whole year, NOT per month. The cost of renters insurance varies based on factors specific to you. For example, if you were to add scheduled items like jewelry or a special collection, your rates would go up. If you've recently filed a claim with your renters coverage, you could get higher rates.

However, the company you choose matters as well. Some companies may offer renters insurance in Nevada for a cheaper rate than others. In the table below, you can see average Nevada renters insurance rates from some of the largest companies in the state.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. The rates displayed should only be used for comparative purposes as individual rates in Nevada will differ. Rate data is provided by Quadrant Information Services.

How much does rent cost in Las Vegas?

In Las Vegas, rent costs an average of $959 per month, but the price can vary based on your location within the city and the size of your apartment. If you want to be in the action, you'll pay more for rent and an insurance company. If you're more flexible about where you live, you can base your choice on things like price, crime rate, and more.

Las Vegas is famous for its casinos, nightlife and entertainment. Millions of people visit Vegas each year with hopes of striking it rich at the casinos. It’s also home to more than 640,000 people, making it the most populous city in Nevada. While the average monthly rate to rent an apartment in Las Vegas is $959, average monthly rent costs can vary depending on your area in Vegas. In a neighborhood such as Desert Hills, the average monthly rent rate is $1,314, but in other areas such as Hillside Heights, the average monthly rate is $701.

The size of the Vegas apartment also affects monthly cost of rent. On average, studio apartments in Las Vegas cost $640 per month, one-bedroom apartments cost $858 and three-bedroom apartments cost $1,199. People who rent apartments in the city may also want to consider purchasing a Las Vegas renters insurance policy to protect their personal items from perils such as theft or vandalism.

Planning to rent out your home on Airbnb? Here’s what you need to know about Airbnb’s insurance policy.

See the best renters insurance companies in Las Vegas.

What should college students in Nevada expect from enters insurance quotes?

If you’re attending a college or university in Nevada, you may live in a campus dorm or rent an off-campus apartment. There are a few things for college students renting housing in Nevada to consider in order to protect their personal belongings.

Typically, college students who live in dorms located on the college campus are covered by their parents homeowners insurance policy. That’s usually only the case for students who live on campus, though. College students in Nevada who rent apartments off campus should consider a renters insurance policy because their items won’t be covered under their parents’ policy, and without a renters insurance policy, they won’t have any protection.

College students will most likely have roommates in the apartment they rent. It’s not advised for students to share renters insurance policies with roommates. This could lead to serious squabbles in the event of a claim and even when determining who pays. If it's combined with an auto insurance policy, it gets even more confusing. Some renters insurance quotes specify they are only meant for one person or one family. When you get affordable renters insurance quotes, though, you probably won't have to worry too much about the cost.

Nevada property crime statistics

Theft and vandalism or malicious mischief are among the 16 perils a standard renters insurance policy protects you from. So, how does crime in Nevada compare to other states around the country? The FBI published the following statistics on crime in Nevada for 2016:

• Property crime - 76,047
• Burglary - 18,850
• Larceny theft - 44,017

When compared to the national average rate per 100,000 inhabitants, property crime and burglary in Nevada rank above the national average but larceny theft ranks below.

How can you save money on your renters insurance in Nevada?

While renters insurance may be more affordable than other types of insurance, no one wants to pay more than they have to. So what are the different ways that you can lower your Nevada renters insurance premium and have some extra spending money?

Here are the top 5 ways to save on your renters insurance:

• Raise your deductible
• Ask about potential discounts
• Bundle your policies
• Determine the value of your personal property
• Pay in full by check

Of course, you should always make sure the benefits balance out with what you get. For example, if you only have $5000 in personal property coverage or if you can't afford to shell out $1,000 during a claim, it doesn't make sense to sign up for $1,000 deductible. On a policy that costs less than $200 for the whole year, it may not even make a significant difference in cost.

Even though individual discounts may be small, they can add up to major savings and more coverage options.

How does Clearsurance rate and rank the best renters insurance companies in Nevada?

Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:

• Price
• Customer Service
• Claim service
• Likelihood to renew

The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.

The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.

Renters insurance guide

As we mentioned above, there’s common misconceptions regarding what is and isn’t covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in Nevada, it’s important to understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property. Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your expenses as you find temporary housing.

We want to make sure you’re equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.