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Nevada Car Insurance

Auto Insurance Basics in Nevada

Automobile insurance helps defray the potential costs resulting from a car accident. In order to register your vehicle in Nevada you must carry car insurance to protect yourself and others from the potentially ruinous of a serious accident. Car accidents are all too common in modern life. There are more than 6 million accidents every year in the United States and almost 40,000 deaths annually. Fatal accidents have been rising in Nevada in recent years. The cost of injury and property damage from car accidents is significant and is one of the reasons that Nevada, like most states, requires that all vehicles registered in the state carry liability insurance.

Liability insurance protects the operator of a vehicle from monetary damages to another party resulting from a crash caused by the operator. There are a couple of components to liability insurance. First off, it covers medical costs of a person injured in a car crash that you caused. Second, it will go towards covering that person’s property damage, if any. There are two thresholds that govern the amount of money that you and your insurance company will ultimately pay. You yourself must first pay a predetermined amount in the event any claims are made against you. This is known as your deductible and will be clearly spelled out in your policy. Any claims that total over and above the deductible amount will be paid by your insurance company up until the maximum amount stipulated in your policy. Typically, you can choose both your deductible and your maximum payout amounts, and your policy will be priced accordingly. As you might expect, lower deductibles and higher maximum payouts will offer you deeper financial protections but costs you higher annual premiums. Most financial advisors will recommend that your carry as much insurance as you can safely afford.

As noted, liability insurance protects you from the costs of damages to another party in an accident that was your fault. In order to protect yourself against your own possible financial costs of injury and property damage you must buy other types of coverage. Comprehensive insurance will reimburse you for things such as damage from storms, vandalism, fire and theft. Collision insurance will help cover the costs of repairing your car in the event that it is damaged in a crash. When deciding whether to obtain comprehensive and collision insurance you should take the value of your car into consideration. The residual value (the amount of money you would get if you sold it) on older vehicle may cost more than the combined sum of your deductible and annual premium for the coverage.

Further, there are other auto insurance protections Nevada drivers can consider. You can get roadside assistance in case your car breaks down and need a tow. You can get Personal injury protection which will supplement any existing health insurance you have in case you are hurt in a crash. There are also products that will help you pay for a temporary rental car to use if your car is in the repair shop and some that will pay off any remaining lease or finance payments in event your vehicle is totaled.

Auto Insurance Requirements in Nevada

The state of Nevada follows the traditional “at fault” model of car insurance. In this model the party who causes a crash is responsible for any resulting financial costs due to death, injury or property damage. In practice, this means that the insurance company of the at fault party pays claims as laid out in the particular policy of the insured vehicle. Nevada requires car owners in the state to carry minimum liability coverages as follows. They must have at least $25,000 of coverage for death or injury to a person caused by the owner of the covered vehicle. They must carry at least $50,000 of coverage for costs associated with the death or injury of two or more persons injured in an at fault crash. And, lastly, they must carry a minimum of $20,000 of property damage coverage.

Average Cost of Coverage in Nevada

As noted car insurance can range from bare bones liability to a full menu of expanded protections. The average cost of full protection in the United States (defined as liability, comprehensive and collision insurance) is around $1,400 per year for a good driver. The average cost for such coverage in Nevada is around $1,800, making it one of the more expensive states for car insurance. There are a couple of reasons that experts think drive the higher costs. One is the frequency which residents use courts to settle claims. High lawyer and court costs driver higher settlements, resulting in higher insurance payouts. Secondly, some believe that the prevalence of high end vehicles in Las Vegas contribute to higher rates because such cars are costly to repair.

Age Average Premium (yearly)
16 $8,948
17 $6,974
18 $6,161
19 $3,769
20s $2,092
30s $1,503
40s $1,461
50s $1,388
60s $1,402
70s $1,731

Cheapest Car Insurance Companies in Nevada

Due to the myriad of factors that drive insurance premiums, it very difficult to say with total assurance which specific carrier could offer any one individual the best deal. Nevada drivers with a safe driving record and good credit will find good, competitive rates. Young drivers and those with spotty credit will almost always pay higher rates.

Rank Company  Avg. Premium (annual)
1 Travelers $922
2 Safeco $1,339
3 USAA $1,346
4 Progressive $1,31
5 GEICO $1,469
6 State Farm $1,501
7 MetLife $1,598
8 Nationwide $1,694

Unique Car Insurance Rules and Penalties in Nevada

You must present proof of car insurance in order to register your vehicle in the state. Being caught driving without insurance in Nevada will cost you. The state calculates fines and reinstatement fees on a sliding scale depending upon how long you have gone without coverage. The total penalty for a first offence can range from $251 to $1,251. Subsequent offenses will result in higher fines and a possible suspension of your license.

Violation Avg. Annual Auto Insurance Rate % Insurance Rate Increase $ Insurance Rate Increase
Hit and Run $3,138 64% $1,223
Refused Breathalyzer/Chemical Test $2,882 51% $968
DUI $3,053 59% $1,138
Racing $3,138 64% $1,223
Reckless Driving $3,138 64% $1,223
Driving with a Suspended License $3,138 64% $1,223
At-Fault Accident $2,874 50% $959
Driving with an Open Container $2,512 31% $597
Operating a Vehicle Without Permission $2,730 43% $815
Passing a School Bus $2,566 34% $651
Improper Passing $2,449 28% $535
Following Too Closely $2,449 28% $535
Speeding $2,415 26% $501
Failure to Stop at a Red Light $2,449 28% $535
Illegal Turn $2,449 28% $535
Driving Wrong Way/Wrong Lane $2,423 27% $509
Failure to Yield $2,449 28% $535
Speeding in a School Zone $2,442 28% $527
Driving Too Slowly $2,442 28% $527
Distracted Driving $2,299 20% $384
Driving with Expired Registration $2,197 15% $282
Failure to Show Documents $2,026 6% $111
Not-at-Fault Accident $2,134 11% $220
Failure to Use Child Safety Restraint $2,026 6% $111
Failure to Wear a Seat Belt $2,005 5% $90
Driving Without Lights $1,936 1% $21

How to Get the Cheapest Car Insurance in Nevada

Shop around. The very best way to get the least expensive policy is to be a smart shopper and get multiple free quotes. No cost, no obligation quotes can be easily gotten on the General.com web site. Our simple, quick tool will help you save.

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