Nevada Homeowners Pay Some of the Nation’s Lowest Insurance Costs, Despite Growing Wildfire Threats

Nevada homeowners enjoy some of the lowest insurance premiums in the country, even as national averages continue to rise.

While Gulf and coastal states struggle with steep affordability challenges, new data from the U.S. Census Bureau and the Realtor.com® 2025 Climate Risk Report show that Nevada remains one of the most affordable markets for homeowners coverage.

However, there are still thousands of Nevada homeowners who have had their insurance policies canceled or not renewed due to wildfire risk, prompting state lawmakers to warn that “a crisis is brewing” in some parts of the state.

Nevada’s Insurance Costs Stay Affordable

According to the American Community Survey (ACS) data from the U.S. Census Bureau , Nevada homeowners with a mortgage typically pay $1,000–$1,499 annually for homeowners insurance, while those without a mortgage average $800–$999. Overall statewide costs fall into the $800–$999 range.

Nevada has 744,844 insured homeowner households in total—486,194 with a mortgage and 258,650 without. Among mortgaged owners, 49,916 pay less than $100 annually and 16,486 pay $4,000 or more. Among those without a mortgage, 51,592 pay less than $100 and 6,057 pay $4,000 or more.

When compared with nearby states, Nevada stands out for its affordability. California homeowners with a mortgage also average $1,000–$1,499, but far more households there report paying above $4,000 annually.

Arizona aligns with Nevada, with mortgaged owners also paying $1,000–$1,499. Utah is similarly affordable, averaging $1,000–$1,499 with a mortgage and $800–$999 without. By contrast, Colorado homeowners typically pay far more, averaging $2,000–$2,499.

Climate Risks Across the Region

The Realtor.com 2025 Climate Risk Report highlights how the steepest insurance burdens are concentrated in coastal metros. Miami, FL homeowners lead the country, paying an average of $22,718 annually, or 3.7% of home value. Florida metros like Cape Coral and Tampa also dominate the list of the most expensive markets.

Nevada does not appear among the report’s top 100 metros for flood, hurricane, or wildfire risk burdens.

However, wildfire remains a growing concern in parts of the state, particularly in northern Nevada near the Sierra Nevada range.

Because of this Republican Assemblymember Jill Dickman of Washoe County believes Nevada should follow the lead of 34 states and the District of Columbia by creating a state-managed private insurance program.

Dickman is sponsoring Assembly Bill 437, which she introduced in April 2025, would establish a Fair Access to Insurance Requirements (FAIR) Plan—a program of last resort for homeowners who cannot reasonably obtain coverage through standard insurers. Her bill is one of two currently moving through the Nevada Legislature aimed at addressing home insurance availability amid rising wildfire risks.

Nationally, 5.6% of homes—worth $3.2 trillion—face severe or extreme wildfire risk, heavily concentrated in the West.

A National Affordability Challenge

Even with Nevada’s low costs, affordability pressures remain a concern nationally. The Realtor.com 2025 Insurance Affordability Report found that 75% of Americans believe homeowners insurance could soon become unaffordable, while nearly half said they had already faced difficulties renewing or obtaining coverage.

These challenges are already shaping behavior. Nearly 30% of homebuyers said they had completely changed the areas they were searching in due to insurance concerns, while another quarter said they had overhauled their strategies altogether. Even more concerning, 58% of homeowners nationwide said they would consider dropping coverage if premiums rose too high, with younger buyers the most likely to take that risk.

For Nevada households, insurance affordability remains a key advantage in the housing market. But as climate pressures grow across the West, the state may see premiums rise in the future, narrowing the gap between Nevada and higher-cost regions.

This article was produced with editorial input from Dina Sartore-Bodo, Gabriella Iannetta, and Allaire Conte.