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

Quick Facts

• In general, Depositors offers significantly more affordable rates than Nevada General
• Depositors offers cheaper average premiums for policyholders who live in rural neighborhoods
• Depositors tends to be a much less expensive option for single people who will be the only person on the insurance policy

Depositors or Nevada General: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? With so many ads from all sorts of companies offering huge savings, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to Depositors or Nevada General as your top options, but which one will offer you cheaper rates?

Looking at nationwide averages, Nevada General is quite a bit more expensive than Depositors, with premiums averaging $249 a month compared to just $148 with Depositors.

But that doesn't mean Depositors will necessarily be more affordable than Nevada General for every single driver. After all, auto insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, where you call home, your driving record, or even your credit score (among other things), so prices could differ drastically from person to person.

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

Depositors vs. Nevada General: Average Car Insurance Rates by State

Depositors and Nevada General only compete against each other in Nevada, where Depositors offers the cheaper average premiums. Depositors drivers tend to pay about $78 per month less on average compared to drivers who use Nevada General for their insurance.

But there's more to car insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how auto insurance companies determine your prices. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance rates of any group out there on the road. The reason is that teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, that doesn't mean teen drivers can't still save money on their auto insurance. As you can see above, teens who use Depositors save almost 50% a month compared to those who use Nevada General.

Even so, both carriers will offer you dramatically lower premiums once you turn 25. For example, average prices for Depositors policyholders decrease around $200 and Nevada General's premiums lower nearly $400 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the most affordable insurance rates you'll ever find. After all, they've likely been driving for quite some time, which typically lowers their chances of collisions and other infractions that can raise prices.

But who has the best rates for retired drivers between Depositors and Nevada General? Depositors gets the edge here, with average prices coming in at about $111 monthly compared to Nevada General's $188.

Which is the Best Company for Married Drivers?

Did you know that car insurance premiums are usually less expensive for married drivers than they are for single policyholders? This usually boils down to married couples having several vehicles on their policy -- something lots of auto insurance companies will reward with discounts.

For single drivers, the difference in average prices between these two carriers is significant, with Depositors rates coming in at around half of Nevada General's. The advantage is also clear for married policyholders - Depositors offers the lowest average premiums.

Depositors or Nevada General: Average Rates by Gender

Men are statistically more likely than women to get into a collision or get pulled over for speeding, which means they'll normally end up paying more for insurance than women.

With Depositors, men typically pay about $10 per month more than women, but with Nevada General, the difference is closer to $5 a month.

When it comes to the most affordable prices for each gender, Depositors comes out on top for both men and women, with average premiums 39% less for men and 42% cheaper for women.

Depositors vs. Nevada General: 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.

For most people, car insurance isn't the easiest topic to understand. Everyone needs auto insurance, but there are so many different coverages and terms that it can be hard to find the right policy for you.

That being said, most policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability coverage).

Looking specifically at state minimum liability limits, Depositors has the significant edge, with average monthly rates coming in at $84. If you want a full coverage policy with the same state minimum limits, Depositors again has the edge, with policies averaging around $211 per month to Nevada General's $348.

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

You've probably seen plenty of commercials from insurance companies offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

You'll probably end up paying more with speeding tickets and at-fault accidents on your record, but which of these two carriers offers the cheapest rates to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Depositors for their auto insurance can usually expect their monthly bill to go up about 18% after getting a speeding ticket. Nevada General policyholders can expect a less drastic increase of around 10%.

Even so, Depositors is generally the cheaper option for drivers both with a ticket and with a clean record. With Depositors Insurance Company, drivers with a clean record can save about $103 a month and drivers with a speeding ticket can save around $101 per month.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Depositors can expect to see about an $51 -- or around 32% -- rise in their insurance prices. Drivers who use Nevada General for their car insurance will see a monthly bill about $48 (or 19%) more expensive after reporting a collision to their insurance company.

At the end of the day, drivers who use Depositors end up with the cheaper prices after an accident, with average rates coming in at $157 compared to Nevada General Insurance Company's $257.

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 ticket or even an accident. Depositors drivers usually see a 46% climb in their auto insurance premiums after a DUI charge, while Nevada General will normally increase prices by around 30%.

But if you end up with a DUI charge and are looking for more affordable rates, Depositors tends to be less expensive for the average driver, with monthly premiums coming in at about $198 to Nevada General's $298.

How does Credit Score Impact Depositors and Nevada General Rates?

Did you know many insurance companies take into account your credit score when determining prices? This isn't true for everyone (Hawaii, for example, has banned the use of credit score as an auto insurance factor) but it might come into play for several drivers.

Car insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with more affordable premiums.

So, which carrier offers the best prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Depositors will typically reward you the most. For policyholders with "excellent" credit scores, Depositors comes in nearly 53.01 less expensive. Drivers with "good" credit scores usually save around 46% with Depositors compared to average rates from Nevada General.

Which Company is Best for Drivers with Bad Credit?

Depositors typically offers lower premiums than Nevada General when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 38% a month less with Depositors compared to Nevada General, and those with "poor" scores normally save an average of around 26% per month.

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

How much you drive can have a considerable impact on your monthly rates. Generally, those who drive less will end up with cheaper premiums since there's less of a chance of causing a collision and filing an insurance claim.

In this case, neither Depositors or Nevada General report increasing prices for drivers with higher annual mileage figures. Depositors comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle each year, with average rates of $148 per month for both.

Depositors or Nevada General: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a sizable impact on your monthly auto insurance bill. Usually, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

Depositors tends to offer the most affordable premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

In urban areas, Depositors's average prices are about $174 while Nevada General offers rates around $347. People in suburban areas pay a monthly premium of about $139 with Depositors compared to $191 with Nevada General. If you live in a rural area, you can expect to pay around $130 a month with Depositors and $209 with Nevada General.

Depositors vs. Nevada General Discounts

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

But where do you even start? With so many discounts out there, it may seem difficult to find all the of the ones you're eligible for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Depositors and Nevada General so that you can find the carrier that has the most discounts and, therefore, the largest savings.

Depositors blows Nevada General away when it comes to the sheer amount of discounts available, offering eight more discounts than Nevada General.

There are a couple discounts both companies offer, but Depositors also offers discounts for advance quote, COVID-19 relief, distant student, and more.

On the other hand, Nevada General has a few proprietary discounts of their own for things like agency transfer discounts, driver training discounts, online quote discounts, and more.

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

You've seen the effect certain factors have on your car insurance and the different discounts carriers offer. But, when it comes down to it, is Depositors or Nevada General the best one for you and your specific driver profile?

Depositors might be best for you if....

• You have a speeding ticket on your driving record.
• Your home is located in the suburbs.
• You want to save money while purchasing auto insurance for a teenager.

Nevada General might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide helps you get a better idea of the difference between Depositors and Nevada General. We also hope we've given you the information you need to make the best decision about your car insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on insurance -- comparing quotes from several companies, not just Depositors and Nevada General. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Depositors vs. Nevada General FAQs

Is Depositors or Nevada General cheaper?

Depositors is the more affordable of the two companies when looking at national average premiums, with policies averaging $148 a month with Depositors and $249 for Nevada General. However, that doesn't mean Depositors will be the lowest company for everyone, since there are a variety of different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Depositors or Nevada General?

Sadly, the answer truly is "it depends.". No one carrier is necessarily "better" for every policyholder -- it all depends on what your unique auto insurance profile looks like.

Why do Depositors and Nevada General offer me different rates?

Insurance carriers use quite a few different factors when calculating the prices they charge. Things such as your driving record, gender, where your home is, age, and sometimes even things like your credit score can all come into play. Both Depositors and Nevada General calculate premiums using different variables, so it's likely they'll offer different rates. The best way to determine which company is the cheapest for you is by comparing personalized quotes from a bunch of different companies.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Depositors or Nevada General at all, but another you hadn't even thought of!

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.