Personal automobile insurance… Personal auto insurance… Auto insurance… Car insurance… however you want to say it one thing we’re all painfully aware of is how expensive this insurance product can be sometimes. Before we go into details about various coverages and whatnot let’s get some concrete minimum requirements out of the way first.
The state of Nevada currently requires that automobile liability insurance policies carry minimum coverage of $15,000 for bodily injury or death of one person in any one accident; $30,000 for bodily injury or death of two or more persons on any one accident; and $10,000 for injury to or destruction of property of others in any one accident. This is commonly known as 15/30/10.
Your insurance is verified between the insurance company and the DMV via an internet program called Nevada Live. Nevada LIVE validates your coverage with insurance companies via a secure Internet connection. The insurance company will respond instantly with whether the insurance coverage is active. The DMV verifies coverage at the time you register your vehicle and periodically throughout the year. Newly-issued policies may not be validated immediately if the policy has not been processed. You can check back with the Nevada DMV online to see if the listing is completed using the Insurance and Registration Status Inquiry
Individual agents cannot send this insurance information to the DMV; it must come from the company’s corporate office.
It is important the name(s) on your insurance and vehicle registration match. If you change the name on your insurance, you must also change the name on your vehicle registration. At least one person’s or business name on the registration must match a named insured on the policy.
We would like to point out an important fact regarding the Nevada state minimum liability limit of 15/30/10
- Although we can accommodate the limits, we do not advise having a Nevada auto insurance policy with the state minimum liability limits of 15/30/10. If you’re involved in a serious accident, it’s possible that an individual’s medical expenses could exceed $15,000, or a group’s expenses could total more than $30,000. In addition, $10,000 for car repairs isn’t much, considering that the average car now costs a little more than $20,000.
Ok now that we’ve explained the minimum insurance requirements currently set by the state of Nevada, we will now jump into the basics of an auto insurance policy
What Is Covered by a Basic Auto Insurance Policy?
1. Bodily Injury Liability
This coverage applies to injuries that you, the designated driver or policyholder, cause to someone else. You and family members listed on the policy are also covered when driving someone else’s car with their permission.
2. Medical Payments or Personal Injury Protection (PIP)
This coverage pays for the treatment of injuries to the driver and passengers of the policyholder’s car. At its broadest, PIP can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident. It may also cover funeral costs.
3. Property Damage Liability
This coverage pays for damage you, or someone driving the car with your permission, may cause to someone else’s property. Usually, this means damage to someone else’s car, but it also includes damage to lamp posts, telephone poles, fences, buildings or other structures your car may hit.
This coverage pays for damage to your car resulting from a collision with another car, object or as a result of flipping over. Even if you are at fault for the accident, your collision coverage will reimburse you for the costs of repairing your car, minus the deductible. If you’re not at fault, your insurance company may try to recover the amount they paid you from the other driver’s insurance company. If they are successful, you’ll also be reimbursed for the deductible if applicable.
This coverage reimburses you for loss due to theft or damage caused by something other than a collision with another car or object, such as fire, falling objects, missiles, explosion, earthquake, windstorm, hail, flood, vandalism, riot, or contact with animals such as birds, deer… lion’s tigers & bears… oh my!!
Comprehensive insurance will also reimburse you if your windshield is cracked or shattered. Some companies offer glass coverage with or without a deductible.
6. Uninsured and Underinsured Motorist Coverage
This coverage will reimburse you, a member of your family, or a designated driver if one of you are hit by an uninsured driver or a hit-and-run driver.
Underinsured motorist coverage comes into play when an at-fault driver has insufficient insurance to pay for your total loss. This coverage will also protect you if you are hit as a pedestrian.
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Our mailing address is 5550 Painted Mirage Rd Suite 320 Las Vegas, NV 89149. Meeting can be scheduled by appointment- we can meet at our office or your home/business.