Renters Insurance Nevada

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The average estimated cost of a rental insurance policy in Nevada was $183 a year in 2013. Renters insurance is less expensive than many people realize: average homeowners insurance is $640 a year in Nevada.

Comparing Renters and Owners Insurance in 2013 in Nevada

There were 22120 burglaries reported in Nevada in 2012. The landlord's policy does not cover renter's damages like burglary. Thus to get protection from events like fire, burglary and other disasters renters insurance is essential.

Renters Insurance Coverage Types:

Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. An example of this is – a $2200 Camera might be worth only $1100 in six months and that is the amount the insurance pays for.

Replacement Coverage Policy in Nevada:

  • By means of the same example, the insurance need not necessarily pay for the Camera, but it will get you enough to buy another laptop of the same kind. In Nevada, the replacement cost insurance costs around $45.75 more than the actual cash value policy.
  • Considering Nevada median rent of $1100 per month, the average renters insurance of $20 per month is 1.82% of median monthly rent.

Estimated Renters Insurance for Different House Types in Nevada

House Type Median Rent Estimated Renters Insurance
Single Fam $1,200 $192
Condo $850 $136
One Bed $650 $104
Two Bed $850 $136
Three Bed $1,120 $179
Four Bed $1,400 $224
Many Bed $1,700 $272

Deductibles in Nevada:

By opting for a $500 deductible over a $250 deductible, an average of $20.13 can be saved on the insurance premium.