Nevada Car Insurance
Nevada car insurance laws may be low in what they require, but they are very unforgiving.
| State Regulator Information | 775-687-4270 | www.doi.state.nv.us |
| Insurance Premium | Avg. Annual Premium: $ 1,342 | National Average: $1,318 |
| Mandatory Car Insurance Coverage | Bodily Injury Liability:$15k/30k Property Damage Liability: $10k |
Finding yourself penalized for not having Nevada car insurance wil be easier than you think.
Yikes! Nevada is another state that you really need to consider carrying more than what they require you to carry. In no way should you think that the amount that you are required to carry in Nevada is enough to completely protect you from the financial devastation of a serious car accident.
However, if the minimums are all that you can afford, that is much better than no coverage at all. Not to mention the fines you will have to pay for not having it.
Minimum Nevada Car Insurance Allowed
The state minimum requirements for Nevada car insurance should really be taken as a suggestion of what you have to carry. The state minimum requirements are barely enough to cover a minor accident, especially the property damage requirement. You really need to ask yourself what would happen to you financially if you caused a serious accident. Could you afford to pay for the expenses that went above and beyond the low liability limits you chose to carry if you went with the minimums?
Now that we have talked about how the minimum Nevada car insurance requirements are not enough to protect you, let’s find out exactly how low they are.
Starting with the property damage liability coverage, you only have to carry $10,000 in coverage to meet the minimum Nevada car insurance requirements. This coverage is for the damages you cause when you hit property that you do not own. Nevada car insurance also requires that you carry no less than $15,000 in coverage for bodily injury that you may cause to another person that is not in your vehicle. For multiple injuries, you only have to carry $30,000 in this bodily injury liability coverage.
Penalties for Lapsed Nevada Car Insurance
Just like the casinos in Las Vegas, Nevada has no forgiveness if you don’t play by the rules. They have no grace period or warnings if you let your Nevada car insurance lapse. You let it lapse just a single day and you will be seeing fines.
It used to be that it was a $250 reinstatement fee if you let your insurance lapse at any time. After new laws that were passed in 2011, Nevada now has a much more complicated tier of how much you will be paying if you let your insurance go. These fines are based on how long you let your insurance lapse and how many times you have let it lapse.
| Length of Lapse: | 1-30 Days | 31-90 Days | 91-180 Days | 181 Days or More |
| 1st Offense | ||||
| Reinstatement Fee | $250 | $250 | $250 | $250 |
| Fine | $250 | $500 | $1,000 | |
| SR-22 Insurance | Yes | Yes | ||
| Totals | $250 | $500 | $750 | $1,250 |
| 2nd Offense | ||||
| Reinstatement Fee | $500 | $500 | $500 | $500 |
| Fine | $500 | $500 | $1,000 | |
| SR-22 Insurance | Yes | Yes | ||
| Totals | $500 | $1,000 | $1,000 | $1,500 |
| 3rd Offense | ||||
| Reinstatement Fee | $750 | $750 | $750 | $750 |
| Fine | $500 | $750 | $1,000 | |
| SR-22 Insurance | Yes | Yes | ||
| Driver License Suspension | Min. 30 days | Min. 30 days | Min. 30 days | Min. 30 days |
| Totals | $750 | $1,250 | $1,500 | $1,750 |
Because there is no way I would be able to do justice to this tier system, the above chart is compliments of the Nevada DMV for Nevada car insurance penalties.
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