Depositors vs. Nevada Capital: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Nevada Capital offers more affordable prices than Depositors
• Depositors offers more discounts than Nevada Capital Insurance Company
• Nevada Capital offers cheaper average premiums for residents of rural areas

Depositors vs. Nevada Capital: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering huge discounts. But exactly how much can you save by switching?

You might have narrowed it down to Depositors or Nevada Capital for your next policy, but which carrier will offer you less expensive rates?

As you can see, Depositors is about $23 more per month than Nevada Capital when looking at the national average rates for auto insurance.

But Nevada Capital may not be the cheapest or best option for every driver out there. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like your credit score, your driving record, your age, or even where you call home (among other things), so prices could differ drastically from person to person.

So, if you want to find out which of Depositors or Nevada Capital is really the best for you, keep reading to see average premiums for each carrier broken down by lots of different rate factors.

Depositors or Nevada Capital: Average Car Insurance Rates by State

Depositors and Nevada Capital only compete against each other in Nevada, where Nevada Capital offers the cheaper average prices. For Nevada residents, Nevada Capital offers insurance for $125 a month on average. Depositors's average rates come out to be over 30% more expensive, at $171 per month.

That being said, there are plenty of other factors that go into your auto insurance payment than just the state you live in. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for insurance than any other group of drivers out there on the road. The reason is that young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

That being said, that doesn't mean teen drivers can't still save money on their car insurance. Just look at the table above -- where 18-year-old drivers who have Nevada Capital for their auto insurance pay more than $35 less than those who use Depositors.

However, with both carriers, you'll see your premiums drop significantly by the time drivers turn 25. Nevada Capital offers the steepest drop, with 25-year-olds paying less than half what 18-year-old drivers are charged. Depositors's average prices reduce nearly 60% during that same period.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest premiums you'll ever see.

When looking at Depositors and Nevada Capital specifically, which company is best for retired drivers? Nevada Capital gets the edge, with rates for drivers 65 and older almost 25% cheaper than the national average for Depositors.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive car insurance prices than single drivers. That's because policies for married policyholders normally cover more than one car, which lots of companies will offer you a discount for.

When it comes to relationship status, Nevada Capital is the clear winner for single policyholders, with premiums around $26 a month more affordable than Depositors, on average. The advantage for married drivers with Nevada Capital is also obvious, where drivers save nearly $20 per month.

Depositors vs. Nevada Capital: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim, which means they'll typically end up paying more for auto insurance than women.

On average, women see rates about 6% a month less with Depositors, while with Nevada Capital, the difference is closer to 2% per month.

When it comes to the most affordable premiums for each gender, Nevada Capital offers the lowest average rates for both men and women. On average, women save about $19 a month and men save around $26 with Nevada Capital compared to the average Depositors policyholder.

Depositors or Nevada Capital: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Car insurance can be a complicated subject for most people. Everyone needs insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

Even so, the most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to liability).

If you're looking for state minimum limits for liability insurance, Nevada Capital generally offers cheaper prices of $75 compared to Depositors's $84. When it comes to full coverage policies with similar limits, Nevada Capital again has the edge, with policies about $35 per month less expensive than Depositors, on average.

Is Depositors or Nevada Capital Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

Tickets and at-fault collisions will most likely raise your rates, but is Depositors or Nevada Capital more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Depositors policyholders can expect their premiums to go up an average of $24 a month if they get a ticket, while Nevada Capital usually raises prices around $27 per month, on average.

But Nevada Capital has less expensive premiums for drivers in both categories -- their rates are around 16% cheaper for drivers with clean records and 11% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Depositors drivers who get in a collision can expect to see their rates climb by over $50, while those who have insurance through Nevada Capital will see about a $35 increase.

Overall, Nevada Capital offers the cheapest prices for drivers with an at-fault accident on their records, with monthly premiums averaging $126 compared to Depositors Insurance Company's $157.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. Depositors drivers usually see a 46% raise in their car insurance prices after a DUI charge, while Nevada Capital will normally increase rates by around 47%.

If you have a DUI on your record and are looking for more affordable premiums, Nevada Capital tends to be the much less expensive option with average prices of $168 monthly compared to $198 from Depositors.

How does Credit Score Impact Depositors and Nevada Capital Rates?

You may not realized it, but your credit score can come into play when carriers calculate your monthly bill. This isn't always the case (for example, are two states that ban the practice entirely), but it does affect quite a few policyholders out there.

Insurance companies argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

So, which carrier offers the best rates for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with Nevada Capital. Drivers with "excellent" credit can save just under 15% compared to Depositors, and those with "good" scores can also expect to see savings -- about $20 or 15% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

Nevada Capital typically offers lower premiums than Depositors when it comes to drivers with bad credit. Drivers with "fair" credit pay around $27 a month less with Nevada Capital compared to Depositors, and those with "poor" scores typically save an average of about $29 per month.

Is Depositors or Nevada Capital Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a large impact on your monthly car insurance bill. That's because the fewer miles you drive, the less likely you are to get into a collision and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Depositors charges. However, there's a pretty significant difference in monthly rates for Nevada Capital, with policyholders who drive 6,000 miles each year paying around $15 less every month compared to those who drive 12,000 miles yearly. Still, Nevada Capital is the cheaper option for drivers in both categories.

Depositors vs. Nevada Capital: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a considerable role in how much you pay for insurance. Generally, those who live in urban areas will pay more than policyholders in rural areas because there are a lot more cars on the roads in those areas.

When comparing these two carriers side-by-side, Nevada Capital typically comes out as the lowest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the most affordable premiums from both companies, but Nevada Capital comes out on top with average rates about $89 a month. Nevada Capital also has less expensive average prices for policyholders in urban and suburban ZIP codes -- a 2% and 18% per month respective difference when compared to Depositors drivers in similar areas.

Depositors vs. Nevada Capital Discounts

You want to save as much money as possible, right? The best way to do that is by taking advantage of as many auto insurance discounts as you can.

But with what seems like a million different discounts out there, it can be difficult to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

In the section below, we've broken down all of the different discounts offered by both Depositors and Nevada Capital so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Overall, Depositors comes out ahead with 17 discounts to Nevada Capital's 15.

Both carriers offer a lot of the same discounts -- like advance quote discounts, employee discounts, discounts for being a good student, and new vehicle discounts -- but Depositors also offers COVID-19 relief discount, distant student discounts, EFT discounts, and more that Nevada Capital does not.

On the flip side, Nevada Capital has a couple unique discounts of its own -- ABS discounts, anti-theft discounts, good payer discounts, and more.

Final Thoughts: Is Depositors or Nevada Capital Best for You?

So, we've broken down the average rates for many of the factors car insurance companies look at, and walked through the different discounts each company offers, too. That's all well and good, but at the end of the day, is Depositors or Nevada Capital the right fit for you?

Nevada Capital might be best for you if....

• You don't have any speeding tickets, DUIs, or at-fault accidents on your record.
• You live in an suburban area.
• You drive fewer than 6,000 miles annually.

Depositors might be best for you if...

• You're looking for discounts -- Depositors has the most.

We hope this guide has ben a valuable resource as you compare Depositors and Nevada Capital. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several carriers, not just Depositors and Nevada Capital. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.

Depositors vs. Nevada Capital FAQs

Is Depositors or Nevada Capital cheaper?

Looking just at the national average prices, Nevada Capital is the more affordable of the two carriers, offering average rates of $125 a month compared to $148 for Depositors. Even so, Nevada Capital won't necessarily be the cheapest carrier for each driver, since there are several different variables that are considered when it comes to your car insurance cost.

Who is better, Depositors or Nevada Capital?

Unfortunately, the only answer we can give you is "it depends.". One company is not necessarily "better" for everyone -- it all comes down to what your unique auto insurance profile looks like.

Why do Depositors and Nevada Capital offer me different rates?

Insurance companies take a look at many different factors when calculating the premiums they charge policyholders. Variables such as your driving record, where your home is, gender, age, and sometimes even things like your credit score can all be taken into consideration. Both Depositors and Nevada Capital calculate rates using different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from multiple different carriers.

How do I know if Depositors or Nevada Capital is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best car insurance carriers in your area. With those, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Depositors or Nevada Capital at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.