Homeowners Insurance in Nevada

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Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and Cinncinati.com. ...

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Mar 13, 2020

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Purchasing homeowners insurance is a "necessary evil" when it comes to responsible home ownership. And in a worst case scenario, it can mean the difference between financial safety and financial ruin. No matter how you look at it, protecting your home with a comprehensive homeowners insurance policy is a sound investment.

The HO-3 policy is pretty much the gold standard across the homeowners insurance industry. It offers financial coverage for your dwelling, all of your personal belongings within, and even liability coverage for accidents. Medical payments are a part of the package, too. Within the state of Nevada, the typical price for a home ranges between $235,000 to $270,000. For this reason, our table below is an example of how much coverage you would need on a HO-3 policy for a $250,000 home:

Types of Coverage Coverage Amount
Replacement Cost (Dwelling) $250,000
Replacement Cost (Contents) $125,000
Personal Liability $150,000
Medical Expense $1,000
Deductible $500

Granted, these are rough estimates of what your actual coverage needs might be. Your exact requirements will be very different from a fellow resident living a hundred miles away, or even your next door neighbor's. Below, we'll give you helpful advice for determining what your needs are, and what you can do to shop around for the best premium.

Average Homeowners Insurance Rates in Nevada Legend: Average Rate Las Vegas Henderson North Las Vegas Reno Paradise 150 300 450 600 750 900 1050 1200 1350 1500 1650 1800 $1840 $1196 $1847 $1142 $1197


Nevada is a much larger state than most people think. It covers nearly as many latitudes as its neighbor to the west, california. The northern parts of the state can see some pretty decent snowfall during the winter months, whereas the southern parts are dry and arid, leaving them vulnerable to the occasional flash flood. Much like its varied geography, home insurance premiums in Nevada can be just as varied across the state.

You're going to want to be thorough when you do your comparison shopping. The rates in Nevada can vary wildly from one company to another. Depending on where you live, your personal circumstances, and the insurer who underwrites your policy, your premium could be double - or dangerously close to triple - what you could be paying.

High & Low Property Insurance Rates in Nevada Legend: Lowest Estimated Rate Highest Estimated Rate Las Vegas Henderson North Las Vegas Reno Paradise 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 $1619 $2429 $1052 $1579 $1625 $2438 $1005 $1507 $1053 $1580

Laws and Requirements

The only way you're technically required to purchase homeowners insurance in Nevada is if your mortgage lender mandates it as a condition of your loan. There are no state or federal laws that say you have to have it. So if you own your home and aren't making any payments on it to a bank, you could go without...but if something catastrophic happened to your house or property, you would be responsible for the financial cost of replacing property and making repairs.

Taking a Home Inventory

If you're going to buy homeowners insurance, you're going to have to take a home inventory. It's the best way to make sure exactly as much coverage as you need, without going overboard or underestimating your needs. Either one of those scenarios could result in financial disaster. Underestimating leads to paltry claims getting paid out in the event of a disaster. Overestimating means that you'll end up wasting thousands - or more - on unnecessarily high premiums.

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Choosing What (and How Much) Coverage

Most Nevada homeowners insurance policies will incorporate Dwelling and Personal Property Coverage, Liability Coverage, Medical Payments Coverage, and Additional Living Expenses Coverage into a standard policy. You may also need coverage for:

  • Fires - Whether it's a wildfire or an accidental flame run amok in your home, most people feel more comfortable knowing they have financial protection from fire damage. The majority of policies protect against fire damage for both your structure and your personal property. But if you have any questions about fire coverage, by all means, be sure to ask your insurance agent about it.
  • Flash Floods - But when it does rain, it pours; usually in the form of flash flood storms. But since this type of damage falls under the "flood" category, most insurance companies won't offer protection against it. Your best bet is to contact the National Flood Insurance Program (NFIP) if you want the ability to purchase guaranteed coverage.
  • Damage from Winter Storms - Most people may know how hot and arid southern Nevada is, but in reality, the northern parts of the state are no stranger to snowfall. Thankfully, no matter what state you're in, your Part A coverage does not exclude coverage of damage to your structure from snowfall or other winter-related perils.
  • Earthquakes - Most people think of California when they think of earthquakes, but they are a problem in the silver state, too. In fact, there have been over 2,200 earthquakes there in the past year alone. Unfortunately, your homeowners insurance policy might not protect against them. But you can learn more about Nevada Earthquake Insurance by clicking the link in the "Learn More" section down below.
  • Covering Your Property -  It isn't just your physical home that your policy protects. It also extends to the possessions inside your home. But be careful, because the perils protected against for your dwelling are sometimes not the same ones that your property coverage protects. Ask your agent to carefully explain the differences to you before you purchase your policy.
  • Liability Coverage - We live in an unpredictable world where people get into accidents every day. Sometimes people are at fault, sometimes it's just an act of god. But if they happen to be standing on your property when it happens, then you may be held financially liable. This coverage protects you from any expenses you might be expected to pay in that event.
  • Umbrella Coverage - Property values can vary considerably within the state of Nevada. If you happen to be living the life of luxury, then you may need more coverage than what the typical Nevadan requires. Umbrella coverage can provide this for you - sometimes up into the millions - but at a cost, of course.

Replacement Cost vs. Actual Cash Value

It's tricky to know how much you can expect to receive from your insurer after you file a claim. If your claim is accepted, then the amount of funds you receive will be determined in one of two ways: either by replacement cost, or actual cash value. If you get the actual cash value, which is usually reserved for your personal property or belongings inside the house, you will receive the amount of its replacement costs minus depreciation; and the older it is, the more depreciation there will be. Replacement cost, usually reserved for damages to your home structure, will cover 100% of funds necessary to repair or replace any damage or destruction.

How Your Credit Score May Influence Your Rate

Thankfully, most homeowners insurance companies don't use your entire credit history to evaluate how much to charge you for your annual premium. Likewise, they won't use every single element of your recent credit history during your evaluation. They will come up with a composite of certain aspects of your recent credit history known as a Credit-Based Insurance Score.

In Nevada, however, it gets a little more complicated than that. Some companies use your CBIS to during the underwriting process when they decide whether or not to sell you a policy. Others use your score during the rating process, which is when they decide how much to charge you for your premium. Still other companies use your score during both phases, and some companies won't use your score at all. You can find out which providers use what in the links below.

Nevada Homeowners Insurance Rates by Credit Score Legend: Median Credit Homeowner Excellent Credit Homeowner Las Vegas Henderson North Las Vegas Reno Paradise 150 300 450 600 750 900 1050 1200 1350 1500 1650 1800 $1840 $1306 $1196 $849 $1847 $1311 $1142 $811 $1197 $850

Learn More

For more information, feel free to click any of the links you see in this article. They all lead to more detailed information about homeowner's insurance, specifics on purchasing a policy, and how to find the best deal. You should also contact local resources in your state, such as:

The Nevada Department of Insurance - Homeowners Insurance Policy Comparison

The Official Nevada State Government Website

Nevada Insurance Company CBIS Usage

Nevada Earthquake Insurance Guide

Or contact them directly through the following resources:

Carson City office:
Phone: (775) 687-0700 | Fax: (775) 687-0787
Consumer Compliance & Licensing Fax: (775) 687-0797
1818 E. College Pkwy., Suite 103
Carson City, NV 89706

Las Vegas office:
Phone:(702) 486-4009 | Fax: (702) 486-4007
3300 W. Sahara Ave., Suite 275
Las Vegas, NV 89102

Division of Insurance toll-free: (888) 872-3234

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