Nevada Car Insurance - Basic Guide to Residents Requirements
If you are a driver residing in the state of Nevada, you are required by the state law to have car insurance.
Even though each state has its own requirements, bodily injury liability and property damage are the minimum coverage plan that you need to buy in Nevada. Only if you own 11 vehicles or more, you are exempt from buying insurance in the state of Nevada.
The state follows a tort system which means that one of the parties involved in the accident must be guilty of causing it. The party held liable is responsible for covering expenses of bodily injuries and property damage.
Whether a vehicle is in use or not, the owners must have $15,000 of bodily injury coverage per person per accident, $30,000 for all injuries in an accident and $10,000 as property damage coverage per accident. This basic coverage is referred to as 15/30/10 coverage.
The basic coverage plans are there to compensate others and their property from damages as a result of an accident. This basic coverage doesn't cover costs of any injury or damage to you, your passengers or your car if you are found at fault.
Over and above the mandatory basic plan, it is advisable to add a few optional coverage options to the policy. These coverage options prove really beneficial if you are at fault in an accident.
The Personal Injury Protection coverage will pay for medical expenses required by you and your passengers in case you are at fault in an accident.
Uninsured and underinsured motorist coverage options are not required in Nevada. They are equal in amount to the basic coverage plans.
Unlike most states, if you own 11 vehicles or more, you are exempt from buying auto insurance coverage in the state of Nevada.
The average car insurance premium for Nevada residents in the year 2009 is $2,097. This year the rate is 10% higher than that of 2008.
To ascertain who has coverage and who doesn't, the state of Nevada has an Insurance Verification Program in place. This is one of the reasons why you need to carry proof of your coverage in your car before you drive off. SR-22 form is available from your car insurance company for a small fee serves as proof of your insurance coverage. It is valid for 3 years.
More details on Nevada auto insurance requirements can be obtained by contacting the Nevada Division of Insurance in Carson City on 1-775-687-4270 or Las Vegas on 1-702-486-4009 or visiting their website at http://doi.state.nv.us.
Driving without valid insurance can attract severe penalties. You may even have your driver license suspended until you get insurance that meet the state requirements.
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