For driving a car in Las Vegas, as in the rest of the state of Nevada, you are required by law to have a minimum level of liability insurance. You are required to provide proof of this insurance in order to license the car or renew your driver’s license. If you drive in Nevada without any car insurance and are involved in an accident or are pulled over by the police for any other offence, then you will face a hefty fine and also the possibility of having your driving license suspended. This article covers some of the terminology and options commonly available to help you in your search for your auto insurance.
Types of Car Insurance
There are two main types of car insurance generally available: full coverage or limited coverage. If your vehicle is financed with a loan then you will have no choice but to get a full auto insurance policy. The reason for this is that the banks want some sort of assurance for their investment in you, or your vehicle that is. There are a few instances where an auto insurance full coverage policy pays off most of the loan amount but leaves a small portion left over. You would be responsible to pay that percentage of the debt left over.
The other type of insurance cover is the limited coverage, which most insurance companies make available as long as there are no loans on the vehicle. But be aware that this means your car is not covered for any repairs in the event you are at fault in an accident. The limited insurance policy is the minimum required by law in Nevada. If your vehicle is not worth a lot of money then this is probably the best route to take. If your vehicle is newer and worth a decent amount of money then you may still want to get the full coverage car insurance.
There are many different options available for auto insurance and this can make searching for a deal a bit confusing. The best route to take is to get a couple of quotes for minimum liability auto insurance cover and then decide how much more you think you can afford. Coupled with this, you will also want to consider how valuable your vehicle is. If you are driving an expensive vehicle then you will probably wish to get more than minimum liability cover, otherwise you will be facing a hefty bill if your vehicle is damaged or destroyed in an accident and you wish to have it repaired or replaced. This is especially important in the scenario that you are found at fault, or the other party at fault turns out to be driving illegally and does not have any insurance. Collision – Pays damages to your own vehicle.
Some of the car insurance options available:
- Medical Payments – this cover pays for your medical expenses or those of any passengers in the event of an accident
- Comprehensive cover - this level of cover pays for losses from fire, theft, storm, etc and the costs of repairing or replacing your vehicle
- Bodily Injury – this policy option will pay for injury to others when you are found to be at fault in an accident
- Personal Injury Protection – in no-fault states, this cover provides for a wide range of medical expenses
- Uninsured/Underinsured Motorist – this provides cover for you if another driver you are involved in an accident with is not insured or is underinsured
- Deductible – This is the amount you agree to pay in the event of a loss
- Property Damage – this pays for property damage when you are found to be at fault
In addition to the main car insurance options, you may wish to consider these optional services which provide additional protection for your vehicle:
- Windshield glass repair service
- Emergency roadside assistance and towing service in the event of a breakdown
- Car rental reimbursement
Some tips for buying car insurance in Las Vegas
- Install Anti-Theft And Safety Devices
By installing a vehicle recovery system such as Teletracer you could save you up to 10% per year on your auto insurance. There are other anti-theft devices you can invest in, such as steering wheel locks and having your Vehicle Identification Number (VIN) etched on the windows of the vehicle - Safety features
When buying your car take into consideration that safety features such as anti-lock braking systems (ABS), air bags, and traction control are viewed positively by insurance companies which will help contribute to lowering your insurance premiums - Increase Your Deductible
It is worthwhile obtaining the highest deductible you can afford. By increasing your deductible from say $200 to $1,000, you could save up to 25% on your auto insurance premium. Some lenders may have limits on how high a deductible they will allow. Also note that you are paying the deductible in the event of incurring costs in an accident so if you are not a careful driver then this will obviously cost you each time you claim. This is something you need to weigh up - Consolidating Policies
If you need to insure two or more vehicles then doing so with the same car insurance company may save you between 10 – 15% on your premiums. Taking out your home insurance with the same company that you have car insurance with can also reduce your premiums by another 10-15%. These are important points to ask the company when you approach them for a quotation.