Important Nevada Auto Insurance Requirements

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Reader’s Question:

I’m on a tight budget. I want to know what insurance coverage is necessary. What is the basic Nevada auto insurance requirements?

Janet

Las Vegas, NV

You always put yourself at risk when driving a car. Even how you drive safely, you cannot tell when you will meet a reckless driver. When you are experiencing economic pinch, then it’s a more appropriate time to get an auto insurance coverage. This will keep you from digging a deeper hole when you encounter unexpected vehicular accidents.

The first thing you should check when buying an auto insurance coverage is your state’s legislated minimum requirement for a car insurance policy. You can find information regarding this online. For Nevada, its minimum requirement is 15/30/10. The 15/30 numbers refer to required minimum bodily injury liability limits, and the last number in the series, 10, refers to required minimum property damage coverage. This means that your minimum required policy should have coverage of $15,000 per person injured in any one accident and $30,000 for all persons injured in any one accident, and $10,000 for damage of property of others in any one accident.

As mentioned, the minimum coverage required by state are the Bodily Injury Liability and Property Damage Liability. The amount of the coverage varies from one state to another. Some states impose lower coverage amount, while some states’ coverage requirements are steeper. You might wonder why the difference in required coverage amount. It is because when calculating for auto insurance cost, the geography of the place, the traffic density, and other factors are considered.

The Personal Injury Protection is another auto insurance coverage that is required but by 16 states only. .PIP covers the insured person’s lost wages due to the car accident, and also medical expenses incurred by the accident. The states that require this are: Colorado, Delaware, Florida, Hawaii, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Oregon, and Utah.

Since you’re residing in Nevada, you only need the Bodily Injury Liability and Property Damage Liability. But if your budget allows, you can also get a PIP coverage as experts recommend this as a good coverage to have. These are the minimum basic policy coverage required by law. If you can afford more, you are free to add other insurance coverage into your policy.