While the State of Nevada has minimum requirements for auto
insurance, Nevada’s minimum level coverage may not be sufficient in the
event an accident does occur. If your levels of insurance
coverage do not cover in full the damages you are financially
responsible for, your assets may be used to pay the difference.
For this reason, the Insurance Information Institute recommends much
higher levels of coverage in the amounts of $100,000 of bodily injury
per person and $300,000 of bodily injury per accident.
It is also important to consider higher coverage in the following
- A new or teen driver will be insured on your policy
- A motorcycle will be insured on your policy
Both new/teen drivers and motorcycle drivers carry a higher risk of
accidents and/or injury, so it is advisable to set your coverage at an
amount that will cover both the driver and others if an accident
occurs. You might also benefit from obtaining Collision and/or
Comprehensive coverage, although these are not required in Nevada.
Explain your needs and describe your drivers to your insurance agent
and discuss the specific coverage options that best suit your
situation. While premiums will increase with increased coverage,
the added financial responsibility may save you from paying
out-of-pocket in the long-run.