What Does Nevada Home Insurance Cover and Cost?
Find out all you need to know when considering home insurance in Nevada.
Ever wonder what you would do if someone fell on your property and sued you for damages? Or if Nevada’s infamous high winds damaged your home? If you have a home insurance policy, you can lay those worries to rest knowing you're covered.
Although policies vary, there are a few home insurance basics, and differences, you should know about before purchasing coverage. Read on to find out which home insurance policy is right for you.
How much is homeowners insurance in Nevada?
The average annual home insurance premium in Nevada is $857, although various factors determine your rate, such as your home’s value, when it was built, your personal insurance history, and the coverage limits you choose.
What is covered with home insurance?
Homeowners insurance covers damage sustained by your home and belongings in the event of a fire, lightning, smoke, theft, vandalism, water, wind, and more.
A standard home insurance policy protects:
- Your home. Dwelling coverage reimburses you for the costs of repairing or rebuilding your home when it’s damaged by a fire, lightening, storms or other disaster listed in your policy.
- Your belongings. Your personal property coverage will help reimburse for damage to your belonging. Keep in mind that most policies have limits on rare items like jewelry or antiques.
- Other structures. If other structures on your property get damaged, like a fence, shed, or pool, home insurance coverage can help.
- Medical bills if someone gets hurt on your property. Your policy’s personal liability coverage may pay for medical bills, lost wages, and certain other expenses if a guest is hurt on your property.
- Housing expenses. If you need to temporarily live elsewhere while your home is being repaired or rebuilt, loss of use coverage—also called additional living expenses coverage—pays for your living expenses.
From Vegas to the Valley of Fire
Nevada has been growing in popularity in recent years, especially in the Las Vegas area. It’s no surprise that people are drawn to the state’s year-round sunny weather and breathtaking landscapes ranging from desert vistas to bright red rock formations to sandy beaches. Nevada also boasts a healthy job market, with major companies moving to the state.
While home insurance isn’t required in Nevada, mortgage lenders usually require homeowners to get coverage as a condition to their loan. And even if you aren’t taking out a loan to make a purchase, home repairs from unexpected disasters can be costly, so it’s important to protect yourself.
AAA Home Insurance add-ons
A standard homeowners policy works for many people, but depending on your situation, you may need extra coverage.
Homeowners insurance coverage comes in handy when natural disasters, like wildfires or lightning strikes, occur. But did you know most standard policies don’t cover earthquakes? And considering the amount of seismic activity Nevada, particularly southern Nevada, has been experiencing in recent years, it may be wise to add earthquake insurance to your home insurance coverage.
An experienced agent can also help you assess if you need add-ons such as landlord, building code, or flood insurance, and ensure that you receive qualified discounts.
Expert AAA insurance agents are ready to help customize your home insurance coverage. Find AAA locations in Nevada.