Get Wells, NV Home Insurance Rates!

If you have watched your Wells home insurance rates increase year over year, you are not alone. Homeowners insurance in Nevada has gotten more expensive over the last decade and Nevada is now the #47 in country when it comes to the cost of homeowners coverage.

The average cost of homeowners insurance in Nevada is currently $824 which makes Nevada the #47 most expensive state in the country for home insurance. Local residents of Wells need to be aware that the national average is $1311. The insurance coverages you need in Wells

The insurance coverages you need in Wells

Homeowners in Wells (or just about anywhere for that matter) should be aware of the different types of protection offered by a homeowners policy. Here is a quick overview:

Dwelling: This portion of your policy will help repair or rebuild your home’s structure if it is damaged or destroyed by a covered peril. Your dwelling coverage levels should be enough to cover the cost of rebuilding your home.

Liability: The liability portion of the policy will help cover any liability issues that come up at your home. It will help pay medical as well as legal bills for any injuries that happen to guests at your home. This can be the result of someone being injured at your home, falling down your stairs for example or if your pet bites someone the liability portion of your policy will step up.

A standard homeowners policy comes with $100,000 in liability coverage but most experts recommend carrying at least $300,000 in coverage. Medical and legal bills can quickly add up so make sure you are carrying enough liability protection.

Personal Property: This coverage will repair or replace your personal possessions if they are damaged or destroyed by a covered peril. The coverage amount for your personal property is 50 percent of your dwelling coverage which means that if you are carrying $300,000 in homeowners insurance on your home, your coverage level for your personal property is $150,000.

Other Structures: This covers other structures on your property such as outbuildings, sheds, barns, detached garages and other structures. This coverage is 10 percent of your coverage levels on most policies so if you are carrying $200,000 on your home, your other structures are protected by $20,000 in coverage. This is all structures combined.

Loss of Use: If your home is so damaged that you can’t live in it while it is being repaired the loss of use portion of your policy will step up. This coverage will help cover expenses you incur due to being out of your home. It will pay hotel bills, restaurant tabs as well as other expenses such as dry cleaning.

Tips for lowering your insurance costs in Nevada

While the cost of homeowners insurance has gone up in recent years, there are ways to save a bit of money on your premium. Regardless of whether you live on the coast or inland, these tips can help put some money back in your pocket:

It's time to save some money

If you are ready to save a bit of coin on your insurance bill, we are here to help. We offer a quick and easy solution to shop and compare Wells home insurance rates online, with our quick online quoting application, we can help you review rates from up to 12 home insurance companies to find the best policy for your particular home.

If you are looking for a new policy that comes with great coverage and a low premium for your home in Wells, let us help you save up to 40% or more on your new home insurance policy. Start a quote online now or give us a call at 1-855-976-2656..

Compare Homeowners Insurance Rates in Wells, NV!

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Average Rates Nearby Wells

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Home Insurance Rates by Zipcode in Wells, NV

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Wells.

89835,     

Wells, NV Home Insurance Average Premiums

$345 /yr.

For the city of Wells, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

What is the average home insurance cost for a home in Wells, NV?

What does it cost on average per month for home insurance in Wells, NV?

Wells, NV - 2023 Housing Information

Homeowners insurance will help cover the cost to repair or replace your Wells home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

Get up to 12 competitive Wells, NV homeowners insurance rates all in one place!

Saving Money Tips on Wells Home Insurance

A great way to save money on Wells homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

Are you shopping for the best rate near or wihin the Wells area? Check out what homeowners are paying on average for Nevada homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Nevada flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954.

To get online quotes on your home and compare rates on home insurance premiums in Wells, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Elko County.

Nevada Homeowners Insurance News & Information

According to industry reports, homeowners are raising their deductibles to $5,000 to $10,000 to help offset the cost of rising premiums.  While raising a deductible into the stratosphere will absolutely lower your homeowner insurance premium, it does mean that you will have to cover your deductible amount in the event you have to make a […]

As homeowner insurance rates rise across the country, some homeowners are opting for policies that offer minimal coverage to keep their premiums affordable. Unfortunately, this choice will leave them at higher risk and in a position where they may have to pay more out of pocket if they have to make a claim on their […]

Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]

While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states.  In most states, insurers are allowed to consider credit scores when setting […]

If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it.  A.M. Best is a credit rating […]

Wells, NV Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Wells so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Wells, NV?

- The average square footage in Wells is around 992 Sq. Ft. which would cost you around $175,500 to replace the home if you base the home on the price to build per square foot of $177.

Minimum Replacement Cost Total: $175,500

Location: Wells, Nevada (Elko County)

Average Building Cost Per Square Foot in Wells: $177 (low end)

Average Square Footage in Wells: 992 Sq. Ft.

The dwelling coverage is calculated by the average cost per square foot ($177) in Wells, Nevada times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $553,125 (Media price to build of $221 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.

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