Nevada Insurance: All about a Vehicle Owner’s Coverage

If you are a resident of the State of Nevada, you know that you mandatorily need to have liability insurance, if you are the owner of a vehicle. As a vehicle owner, you will have to buy a Nevada insurance policy from an insurance company, licensed by the Nevada Division of Insurance.

This insurance is absolutely necessary in order to register the vehicle in Nevada State. For this, you will have to put down a minimum amount of insurance of $15,000 which will cover bodily injury of one person in an accident, or $30,000 if two or more people are physically injured in an accident and for property damage, $10,000.

Nevada’s Commissioner of Insurance fixes the mandatory coverage limits for residents who drive in that state. This coverage is but part of the entire Nevada insurance that is open to you and your family, to protect you from any untoward incidents on the road.

Nevada insurance lays down six chief areas of insurance coverage for your car. These are: Personal Injury Protection, Bodily Injury Liability, Collision, Property damage liability, Comprehensive and Uninsured/Underinsured motorist’s coverage.

Of these, Bodily Injury Liability covers all damages that you cause to another person in a road accident that you cause. You can avail of Personal Injury Protection for your health care expenses due to an accident, even if it was the other person’s fault. Property Damage Liability will pay for the repairs and replacement of any of your property destroyed in an accident.

If your vehicle needs repairing or replacing of any body parts, you can claim the costs for these under Collision Insurance, according to the Nevada insurance regulations. However, if your car is stolen or someone damages it or it is damaged in a natural calamity, you can claim damages from your Comprehensive Coverage policy.

If you are uninsured, you pay for damages if you are hit by another r uninsured motorist or a hit-and-run motorist, even if the latter has minimal coverage that’s not enough to cover you.

However, Nevada insurance regulations do not allow any resident to drive in the State without adequate coverage. You are obliged to carry with you your papers relating to Bodily Injury Coverage and Property Damage Coverage taken from a licensed Nevada insurance company. To check that all residents do, in fact, carry their insurance papers with them, the state has set up an Insurance Verification Program (IVP). Here, all insurance companies report to the Department of Motor Vehicles (DMV) all new policies taken and all policies cancelled.

If the department finds that you drive without adequate coverage, it will flag down your car as being uninsured. It will ask you to verify that your insurance has not expired within a 20-day period along with other information such as the name of your Nevada insurance company, your policy number and your vehicle or VIN number.

Once you have all the above information with you, you can fill out a verification response form online or mail the information to the DMV’s office. However, if you choose not to respond to this call, your license will be suspended by the DMV. Nevada insurance companies give you a lot, but expect you to comply with their regulations.

About the Author:

Jesse Witham is the author of this article on Nevada insurance. Find more information about State insurance here.