Coverage requirements in Nevada are based upon the Nevada tort system, which applies the negligence standard for all issues at law. That is to say that if you are found negligent in a certain situation, you will be financially responsible for any bodily and/or property damages suffered by the injured/innocent party. Nevada has several minimum requirements for an insurance policy to be considered valid. They are detailed below:
Outline of coverage requirements/minimums:
As required by Nevada law, the minimum insurance policy must provide coverage in the amount
of $15,000 for bodily injury or death of one person in an accident, $30,000 for bodily injury or death of two or more persons in an accident, and $10,000 for injury or damage to the property of others. This coverage is generally described as 15/30/10. When you have liability coverage, your insurance company will pay for the victim's damages up to your policy limits. If you choose, you can increase your coverage for added protection. The penalty for not having liability auto insurance is severe. If you are the owner of a motor vehicle that is registered, or should be registered, and you are found guilty of operating, or allowing someone to operate your motor vehicle without insurance, you will be fined a minimum of $50 to a maximum of $250 by the DMV insurance verification program.
If you are found to be without insurance by a law enforcement officer, the penalty will be administered by a court of jurisdiction and is generally more severe. In addition, if you do not carry insurance and you or someone using your motor vehicle with your permission is involved in an accident, your registration and driver's license may be revoked. You may also be required to have an insurance company certify that you have insurance. Most insurance companies will charge you an additional fee for this certification (commonly referred to as a SR22)
which you will have to maintain continuously for a threeyear period.
Finally, once you have gone without insurance for any period of time you may find it difficult to
find insurance you can afford. Many companies do not insure people who have not had insurance or have allowed their insurance to expire. Other companies will simply charge you more for insurance. As you can see, going without insurance can cost you much more than carrying the liability coverage that is required by Nevada law.
Speak to an Experienced Insurance Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local insurance attorney to discuss your specific legal situation.