What Nevada Drivers Need to Know About the Cost of Auto Insurance

Like many other states, Nevada has seen an improvement in road safety over the past several years. Fewer people are dying on the roads, which is good news all around. In fact, between 2004 and 2008 the traffic fatality rate dropped by 18%. Nevertheless, traffic crashes happen and when they do, having the right auto insurance will be critical. Let’s look at the type of auto insurance you need in Nevada and how you can save money on your policy.

Nevada drivers are required to have insurance coverage for bodily injury liability of at least $15,000 per person / $30,000 per accident, as well as $10,000 property damage liability. Realistically, these coverage levels are too low to give you the type of security you expect from insurance. The damages from any crash more serious than a fender bender are likely to exceed these limits. You could be liable for the amount not covered by insurance if you’re found to be at fault in the crash.

Instead of purchasing the minimum insurance, Nevada drivers commonly buy coverage of $100,000 per person / $300,000 per accident for bodily injury liability, $50,000 for property damage liability, $50,000 / $30,000 for uninsured motorist bodily injury, $5,000 for medical payments, a $500 deductible for collision, and a $100 deductible for comprehensive.

Even when you buy this amount of insurance, you can find a better price if you’re willing to shop around. You should try to get at least three quotes from different insurers. You may call a company directly or look it up on the Internet to get this information. The process takes a little time but it’s well worth your attention.

Let’s say a driver lives in Las Vegas, owns a Toyota RAV4, and wants to buy the type of complete coverage that was talked about earlier. Here are a few scenarios that show the range of premiums that different types of drivers might pay, based on a recent survey done by the Nevada Division of Insurance.

A 24-year-old divorced female with a clean driving record drives 10 miles round trip to work each day, with an annual mileage of 4,500. She has had no insurance for past 30 days. This driver could pay anywhere from $752 to $6,846 for a six-month premium.

A 45-year-old single male drives 10 miles round trip to work each day, with an annual mileage of 4,500. He has a DUI on his record, his first offense within past two years. This driver will find that some insurers won’t even sell him a policy. When he does find a company that will insure him, he could pay anywhere from $897 to $6,132 for a six-month premium.

A husband and wife are both 40 years old and have clean driving records. Each person drives a 30-mile round trip to work daily, with an annual mileage of 12,000 on each vehicle. They get a multi-car discount from the insurer. In this situation, the husband would pay between $452 and $2,682 for a six-month premium.

A 71-year-old married, retired female has a clean driving record and a husband who doesn’t drive. She uses the vehicle for pleasure use only and has an annual mileage of 4,000. She has completed an approved driver safety course and is rated as having the best possible credit-based insurance score. This driver could pay anywhere from $422 to $2,675 for a six-month premium. To an insurance company, she represents one of the lowest risks for making a claim. Every insurer wishes they had more customers like her.

As a Nevada driver, you owe it to yourself to do some comparison shopping. You can save literally thousands of dollars a year by taking this one simple step. But don’t choose Nevada auto insurance based on price alone. Make sure you are buying your policy from a company that is financially stable and highly rated. That way, you’ll be able to count on your auto insurance being there when you need it.