As of July 1, 2018, the minimum insurance coverage in Nevada will be increased.
Starting July 1, 2018, the minimum insurance coverage in Nevada will increase, resulting in a 9% jump in auto insurance rates for ⅓ motorists. This change is the first increase in minimum coverage since 1958 and brings Nevada closer in line with other states’ minimum insurance coverage. If you already have more than the new minimum coverages, your premium rates shouldn’t be affected but it’s always best to get several quotes from insurance carriers and always speak with a Las Vegas accident attorney to learn what your coverage means if you’ve been in an accident.
Currently the minimum insurance coverage in Nevada is known as 15/30/10 – $15,000 per person for bodily injury coverage, $30,000 per accident and $10,000 in property damage per accident. With the new law, the minimum insurance coverage will be increased to $25,000 per person for bodily injury coverage, $50,000 per accident and $20,000 in property damage (25/50/20).
In addition to these requirements, drivers can purchase Uninsured/Underinsured Motorists (UM/UIM) coverage. By law, insurance companies must offer this protection at a level no less than the minimum liability limits. To prepare for these legal changes, its best to review your auto insurance policies and selected limits. Contact your insurance company to determine what coverage and limits are best for you. Read more