Nevada Car Insurance: Basic Guidelines to Insurance Policies

The most important thing to remember is that not all insurance policies are created equal when you are crossing state lines. Each state has its own unique requirements.

1. Nevada’s only true requirement is that all of its drivers purchase a minimum liability policy. Minimum coverage in Nevada will pay for fifteen thousand dollars worth of bodily injury expenses for a single driver, thirty thousand dollars worth of combined medical expenses for all of a vehicle’s occupants and ten thousand dollars worth of property damages, both publicly and privately owned.
2. As liability will not aid drivers in paying the cost of repairs to their own vehicles following an accident it is recommended that all motorists purchase a comprehensive policy to supplement their liability insurance. Comprehensive coverage will pay for repairs on a vehicle up to the vehicle’s Kelley Blue Book value; beyond that point the insurance company will declare the car totaled and pay its owner the cash value of the vehicle.
3. For those vehicles whose Blue Book value is less than the amount remaining on their lien it may be prudent to purchase gap coverage. Gap coverage is intended to “bridge the gap” between the amount paid by comprehensive and the amount owed on a lien if a vehicle must be totaled.
4. While it is not required all consumers should put serious thought into the purchase of an uninsured motorist policy, particularly those residing in an area with as transient a population as NV. Not every state requires that its residents purchase liability of any form, and those without uninsured motorist coverage may well end up having to pay for their repair costs and medical expenses out of pocket, then spend years in court trying to get them back from the person responsible.

For more information on Nevada insurance consumers can contact the Nevada Division of Insurance by visiting either their website at http://doi.state.nv.us or one of their offices, located in Carson City and Las Vegas.