Each year, most of us who lawfully drive around the state of Nevada need to sort out our auto insurance renewal.
Have you ever had to make a claim on your car insurance? If you can answer yes to this question then I bet there is a good number of you that were disappointed with their auto insurer. Perhaps many of you will have had to do alot of the groundwork chasing the insurance company to get things done, some of you will probably have had to fight with your insurance company about the costs, and no doubt most of you will have found it stressful.
In its annual report of 2008, The National Association of Insurance Commissioners report revealed that the average premium per vehicle in Nevada state was $1,137 annually, whilst passenger car insurance for the remaining states was significantly less at only $937 per vehicle.
So car insurance is a bit more expensive for residents of Nevada state as a whole, compared to the rest of the country on average – thats interesting, maybe its our crime figures!
To get yourself a decent policy and also to get a good deal for their money, you must take care and purchase an auto insurance policy that makes sense and value for you. A good policy is one that both meets your minimum liability as a road user and also provides other levels of cover that you require without quibbles or problems from the insurance company should you need to make a claim.
Bodily injury and property damage cover can be purchased as what is known as split-limit cover or combined single-limit cover. If you choose to pay for a combined single limit, then the figures for property damage and bodily injury are combined ie. $40,000 is the minimum (required under Nevada law) combined single limit for all property damage and bodily injury.
Comprehensive and collision cover are not required in Las Vegas, under Nevada law. It is also not available in some cases where the condition of the vehicle or the age of the driver would prohibit the costs required ie. the person is of minimum age or the vehicle is almost worthless
You are not required to carry medical payments or uninsured/under-insured motorist cover, but all insurance companies are required by law to offer you medical payments cover of at least $1000 and uninsured/under-insured motorist cover at an amount equal to your bodily injury cover.
If you are planning to lease a car you are advised to check the lease agreement since they generally require that you have a liability cover of $100,000 per person, $300,000 per accident and possibly a damage cover over the lower limit of $10,000 that is required by the law in Nevada.
Teri is an insurance actuary for a company in Las Vegas. She writes for the Nevada auto insurance guide where car drivers can find more resources for buying auto insurance in Las Vegas and Nevada.
