Is homeowners insurance required in Nevada?
No, homeowners insurance is not required by law in Nevada. However, in order to get a home loan, your mortgage lender will likely require you to obtain a certain amount of insurance coverage.
What does homeowners insurance cover in Nevada?
Every policy is different, but home insurance policies in Nevada typically come with several standard coverages.
- Dwelling (Coverage A). This coverage helps you pay for damage to your home from a covered event, such as a fire, windstorm, lightning or hail.
- Other structures (Coverage B). This coverage is intended to help cover structures that aren’t connected to your home, like a fence or shed.
- Personal property (Coverage C). This coverage helps you repair or replace your personal belongings if they are stolen or damaged.
- Loss of use, or additional living expense coverage (Coverage D). This coverage can help you pay to stay somewhere else if your home is uninhabitable due to covered damage.
- Personal liability (Coverage E). This coverage helps pay for accidental property damage or injuries you cause through negligence.
Home insurance coverage options in Nevada
Farmers® gives you multiple options for covering your home and personal property. You can choose the policy that suits your lifestyle and dwelling type:
- Standard — Reduced coverage for a reduced price
- Enhanced — Provides higher coverage limits and extra features
- Premier — Comes with the highest coverage limits and greatest choice of features
Typical home insurance policies in Nevada offer coverage for damage caused by:
- Fire
- Windstorms and hail
- Lightning strikes
- Vandalism and theft
- Explosion
- Falling objects
- The weight of snow or ice
Nevada is the driest state, but flooding is still a risk — and home insurance doesn’t usually cover flooding. However, special flood insurance through the National Flood Insurance Program (NFIP) may be available.
How much does homeowners insurance generally cost in Nevada?
The average premium for home insurance coverage in Nevada is $824 per year1, according to a 2020 report (the most recent data available) by the National Association of Insurance Commissioners (NAIC). That’s less than the national average of $1,311 a year, according to same report. However, insurance costs in most states have changed since then. Also, the amount you pay may be different, depending on things like the value and age of your home, how much personal property you want to cover, what deductible you choose and risks specific to your area.
Nevada home insurance discounts
Farmers offers a variety of savings opportunities for eligible home insurance customers in Nevada, including:
- Multi-policy
- Protective devices
- Non-smoker
See more information and additional discounts that may be available in Nevada.
Mountain Bluebird
Nevada’s state bird may have beautiful blue feathers, but males of the species aren’t much help when it comes to building nests. If they bother to pick up any nest-building material, they drop it on the way back to the nest. — State Symbols USA
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Learn From Experience
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How Do I Calculate the Replacement Cost of Belongings in My Home?
Your personal property includes everything inside the home that is not permanently installed. Clothing, furniture, electronics and miscellaneous household items are considered personal property. Appliances and fixtures attached to utilities are not.
1 Based on average premium for HO-3 type open perils homeowners policies.