Nevada Auto Insurance Requirements
Nevada has very tough auto insurance laws for both private and commercial vehicle owners. Minimum auto insurance coverage requirements in Nevada are mandated by state law and the Nevada Department of Motor Vehicles. The following minimum coverage is required on every registered vehicle, except as noted below:
(Source: Nevada Department of Motor Vehicles)
Driving without the mandatory liability insurance in Nevada can result in a $1,000 fine, suspension of driving privileges, reinstatement fees, and license points. Subsequent offenses are subject to higher fines, reinstatement fees, and jail time.
The Nevada Automobile Insurance Plan is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the AIPSO website.
Factors Influencing Car Insurance Premiums in Nevada
Getting a quote for cheap car insurance in Nevada requires some research and rate comparisons between different insurance companies, even though Nevada ranks below national averages for car insurance costs. Some factors that impact insurance rates in Nevada include:
– Nevada is not a “no-fault” state, and does not require PIP insurance
– Vehicle repair costs are generally less expensive in Nevada than elsewhere
– Overall accident fatality rates are higher than national averages
– A percentage of uninsured drivers above national averages
– Auto insurance fraud
– Highest vehicle theft rates in the country
The average auto insurance premium for residents in Nevada is $1,300 in 2011; the national average is $1,790.
Tips for Obtaining Cheap Car Insurance in Nevada
– If you’re over 55, take a state-approved defensive driving course for a policy discount
– Several insurance companies offer “pay as you drive” car insurance for low mileage drivers in Nevada
– Maintain a good driving record
– Bind multiple policies (homeowners, life, auto) with the same provider
– Maintain a good credit score
– Create a personal “emergency fund” of up to $1500 and increase deductibles accordingly
– Discuss affinity discounts with your insurance provider
– Drop comprehensive and collision insurance on older vehicles
– Auto Theft: Nevada has the highest vehicle theft rate in the nation, but it has been decreasing (as is the case in most states) in recent years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue:
(Source: Auto Thiefs)
– Automobile Accidents: The total vehicle miles traveled in Nevada has remained relatively constant in recent years, but vehicle accident fatality rates have declined consistently over the past five years. Still, Nevada is above the national average in numbers of deaths in car crashes.
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