Does Nevada Require Auto Insurance?

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    August 7 2020

    All drivers in Nevada must purchase auto insurance. Auto insurance provides financial protection for vehicles. It can also protect against loss, physical damages, and bodily injury liability. Unfortunately, not all drivers in Nevada have auto insurance. If an uninsured driver causes an accident, the costs can be huge for all parties involved. Nevada has insurance requirements for a reason. Below we will discuss Nevada auto insurance requirements and factors that can affect your rate.

    If another driver injures you, you need an experienced personal injury lawyer. A personal injury lawyer will help you deal with the insurance company and get you compensation to pay for your medical bills. You need our Las Vegas law firm that will tenaciously fight for you so you don’t have to take whatever the insurance company offers – you’ll have our lawyers who can argue for the highest possible payment to you. The law firm of Anthem Injury Lawyers has a dedicated team of lawyers and staff ready to help you with your car accident or other personal injury case. Contact us today at (702) 857-6000 to make an appointment for a free consultation.

    What Is Auto Insurance?

    Auto insurance provides drivers and passengers financial protection from accidents or other vehicle-related accidental occurrences. It is a legal contract between the policy holder and insurer.

    States have minimum insurance requirements. In addition to the required coverage, drivers may purchase additional coverage. There are many different types of auto insurance policies including:

    • Liability coverage
    • Collision insurance
    • Comprehensive coverage
    • Uninsured motorist coverage
    • Underinsured motorist insurance
    • Medical payments coverage
    • Personal injury protection coverage
    • Gap insurance

    What Are Nevada’s Auto Insurance Requirements?

    Liability insurance may help pay for the injuries and property damage that you cause to another party. If you own a car and live in Nevada, you are required to maintain a minimum automobile liability insurance policy of:

    • $25,000 for bodily injury or death of one person in any one accident;
    • $50,000 for bodily injury or death of two or more persons in any one accident; and
    • $20,000 for injury to or destruction of property of others in any one accident (property damage liability).

    Your insurance company must be authorized to do business in Nevada.

    What Is the Nevada LIVE Program?

    The Nevada Department of Motor Vehicles validates the insurance coverage of every vehicle registered in Nevada on a continual basis. This helps keep uninsured motorists off the road. Nevada LIVE verification applies only to liability coverage.

    The LIVE program requires you to present evidence of Nevada auto insurance coverage to register your vehicle. Evidence is either on a printed card or on a mobile device. You must also present proof of insurance at most registration transactions. You must carry your insurance card in your vehicle at all times and present it to any law enforcement officer upon request.

    Does Nevada Have a Grace Period?

    Nevada has no grace period. Even a one day lapse in your insurance coverage can result in a suspension of your registration. The minimum penalty is a $251 reinstatement fee.

    It is important to always maintain insurance coverage. Insurance coverage can protect you and your loved ones if you are involved in an accident. If you are a victim in an auto accident, contact an experienced car accident lawyer. An experienced lawyer can properly manage the issues involved in dealing with insurance companies. Anthem Injury Lawyers have a team of lawyers and staff ready to help you. Contact us today at (702) 857-6000 to make an appointment for a free consultation. We’ll examine the facts and determine if you have a case. If so, we’ll pursue it doggedly so you have the best opportunity to gain the compensation you are due for your car accident injuries.

    What Are the Average Expenditures for Nevadans?

    If you are curious how much Nevadans spend on auto insurance, the National Association of Insurance Commissioners reports average expenditures by state. For 2017, it reported the following average expenditures for auto insurance for Nevadans:

    • Liability $798.52
    • Collision $344.81
    • Comprehensive $115.46

    How Do Nevada Auto Insurance Companies Determine Your Rate?

    There are over 140 companies offering auto insurance in Nevada. According to the Nevada Division of Insurance, insurance companies use a variety of factors to determine the cost of auto insurance. The most controllable factor in determining a consumer’s rate is their driving record. If two drivers have similar characteristics, the person with traffic violations will pay more than the driver with a clean driving record. Other factors include the following:

    • Geographic area
    • Gender
    • Age
    • Marital status
    • Prior insurance coverage
    • Vehicle use
    • Usage-based insurance
    • Make and model of vehicle
    • Claim frequency

    Automobile insurers may also use credit-based insurance scoring. The insurers use credit information as a criteria in deciding coverage eligibility and premium pricing. Nevada consumers can access this list of all auto insurers who utilize or do not utilize credit history in underwriting and/or rating.

    Can You Qualify for a Discount?

    Insurance companies offer discounts to individuals based on a variety of characteristics. Not all insurance companies offer the same discounts. Below are some of the discounts that may be available when applying for insurance coverage.

    • Multiple Vehicle Discount – A discount for consumers who insure more than one car with the insurance company.
    • Driver Education Courses – In Nevada, all insurers must provide a premium reduction for a three-year period for people 55 and older. This reduction applies if they successfully complete a driving course approved by the Nevada Department of Motor Vehicles. To retain the discount, the insured must maintain a clean driving record.
    • Good Student – A discount for students who earn a “B” average or better. Insurers find responsible students tend to be responsible drivers.
    • Safety Devices – Automobile safety equipment includes air bags, automatic seat belts, and stability controls. Safety equipment can prevent accidents and/or reduce their impact. This helps lower insurance costs.
    • Anti-Theft Devices – A discount for devices or systems that deter theft or vandalism also lower claim costs.
    • Good Driver/Loyalty – Insurers offer discounts to drivers who maintain a good driving record and renew their policy with them.

    These are not all of the discounts that may be available to you. Different insurance companies offer different discounts. Depending on which discounts apply, you may be able to save money on your insurance policy. Ask around to find out what discounts are available for you.

    Does COVID-19 Impact Nevada Auto Insurance?

    In April 2020, the Nevada Division of Insurance announced that Nevadans will receive premium relief refunds for auto insurance policies. There have been fewer cars on the roads since Nevadans began to “Stay Home for Nevada.” Fewer cars on the roads mean fewer claims being paid. In response, some auto insurance carriers paid back premiums to their consumers. Auto insurance companies provided premium refund credits, checks, dividends, and similar measures. If your insurance company participated in providing a refund, the insurance company would have notified you.

    Experienced Las Vegas Personal Injury Lawyers

    If another party injures you in a motor vehicle accident, seek medical help immediately. Once you have received medical help, seek legal advice from an experienced personal injury lawyer. The experienced team at Anthem Injury Lawyers can help protect your rights and get you the personal injury settlement that you deserve. You don’t have to go it alone against the insurance companies. In fact, when you have us working for you, you’ll know that you have a top Las Vegas personal injury law firm that stands up for your rights.

    If you are looking for a law firm with experienced personal injury lawyers, contact Anthem Injury Lawyers today. We offer an extensive background in dealing with insurance companies. Our team can provide you with the representation you need when you’ve suffered injuries in an accident. We are located in Henderson, Nevada and serve clients all over the Las Vegas Valley. Our phone number is (702) 857-6000. We offer Free Consultations.

    Published by Anthony Golden

    Attorney Anthony B. Golden (“Tony”) is one of the founding partners of Anthem Injury Lawyers. Tony represents clients in all aspects of personal injury cases, from pre-litigation through jury trials and appeals. Tony has a proven track record of successfully representing clients in trials, arbitration, and appeals, as well as assisting clients in resolving high-value cases in mediation.

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