Buying Auto Insurance in Las Vegas

Auto insurance is an expensive, but necessary, annual expense for most of us .  In the US, the National Association of Insurance Commissioners (NAIC) published a report in 2008 which included a comparison of the average auto insurance premium for Nevada against the rest of the country. The report revealed that the average premium per vehicle in Nevada state was $1,137 annually, whilst private passenger auto insurance for the rest of the country was only $937 per vehicle. These figures show that car insurance is a significant purchase for most people, and is slightly more expensive for residents of Las Vegas and Nevada state as a whole, compared to the rest of the country on average.

To secure both a good policy and also to get a good deal for their money (see tips for finding cheaper car insurance in Las Vegas), consumers must take care and purchase an auto insurance policy that makes sense and value for them. A good policy can be considered one that meets your minimum liability as a road user and also provides other levels of cover that you require without quibbles or problems from the insurance company should you need to make a claim. This article will help you understand some of the variables involved in the process of calculating cover. See this article for a breakdown of common terms relating to auto insurance. Its recommended that you seek professional advice from a qualified insurance agent when buying auto insurance, especially if you are not very familiar with some of the terminology, since they can help explain the factors involved.

Understanding Liability Limits

Probably the first thing to understand are the minimum limits of liability. In Nevada, for example, the minimum limits are expressed as 15/30/10, which break down as follows:

$15,000 per person for bodily injury
$30,000 per accident for bodily injury
$10,000 per accident for property damage

Now, both bodily injury and property damage coverage (liability coverage) can be bought as split-limit coverage or combined single-limit cover. If you choose to purchase liability cover as a combined single limit, then the figures for bodily injury and property damage are combined ie. $40,000 is the combined single limit for all bodily injury and/or property damage, and this figure is the minimum combined single-limit cover allowable by the law of Nevada.

Comprehensive and Collision Coverages

Comprehensive and collision cover are not required in Las Vegas, under Nevada law. It is also not available in some cases where the condition of the vehicle or the age of the driver would prohibit the costs required ie. the person is of minimum age or the vehicle is almost worthless.

On the other hand, if you have borrowed money to purchase the vehicle then the lender may make it a condition of the terms of your contract to take out this level of cover, at least until the loan has been repaid – this is to protect the lender’s investment.

Medical Costs

You are not required to carry medical payments or uninsured/under-insured motorist cover, but all insurance companies are required by law to offer you medical payments cover of at least $1000 and uninsured/under-insured motorist cover at an amount equal to your bodily injury cover.

If you are planning to lease a car you are advised to check the lease agreement since they generally require that you have a liability cover of $100,000 per person, $300,000 per accident and possibly a damage cover over the lower limit of $10,000 that is required by the law in Nevada.

Companies Dealing in Car Insurance in las Vegas:

American Family Insurance
(702) 732-7829  |  6120 W Tropicana Ave Ste A14 Las Vegas, NV 89103

Glb Insurance Group of Nevada
(702) 735-9333  |  4455 S Pecos Rd Las Vegas, NV 89121

State Farm Insurance
(702) 453-9500  |  4250 E Bonanza Rd Ste 16 Las Vegas, NV 89110

AAA Insurance
(702) 360-3151  |  10860 W Charleston Blvd Las Vegas, NV 89135

Orgill Singer
(702) 796-9100  |  8360 W Sahara Ave Ste 110 Las Vegas, NV 89117

Wilkes Karen
(702) 870-9004  |  7415 S Durango Dr Ste 107 Las Vegas, NV 89113