Nevada Car Insurance Regulations & Required Coverage
The state of Nevada requires that all drivers maintain car insurance. There are a couple different ways to maintain financial responsibility but the most common is to obtain a standard car insurance policy. Nevada laws are similar to other states but do have some unique characteristics that you should be aware of.
Nevada insurance laws follow a tort system. In a tort system, after an accident, someone must always be found to be at fault for causing it. This person is then held financially responsible for covering expenses resulting from the accident. The specific laws for a tort system can vary from state to state.
All personal vehicles in Nevada require the following liability coverage requirements:
- Bodily Injury
- Property Damage
|Minimum Nevada Car Insurance Requirements|
|Bodily Injury Liability||$15,000 / $30,000 Limit|
|Property Damage Liability||$10,000 Limit|
Additional insurance coverage can include:
- Uninsured / Underinsured Coverage
- Comprehensive and Collision Coverage
Uninsured / Underinsurance insurance coverage will pay for costs incurred from being involved in an accident with a person who does not have insurance coverage or does not have enough insurance coverage to pay for the expenses resulting from the accident.
Comprehensive and collision coverage are usually grouped together by insurance companies. Collision pays for any damages to your vehicle resulting from an accident while comprehensive coverage will pay for non-collision related incidents such as your car being stolen or fire damage. Each has a deductible that must be payed prior to receiving repayment for expenses. Even if your vehicle isn't on the list of most stolen vehicles in Nevada, you should consider having this coverage.
Proof of Insurance and Financial Responsibility
Establishing proof of insurance and financial responsibility
- Get a standard liability car insurance policy
- Self insurance (only for people or companies that own more than 10 vehicles)
In order to provide proof of insurance, you can provide one of the following:
- Insurance ID card
You must maintain proof of insurance and financial responsibility and present it:
- When asked by a police officer
- When asked by the Nevada DMV
- When registering a vehicle
- Anytime you are operating a vehicle
Failure to Maintain Financial Responsibility Penalties
If you are unable to show proof of insurance when asked, you can face following penalties:
- Suspension of your vehicle's registration
- Reinstatement fees of $250
If you are caught operating a vehicle you can face the following penalties:
- Loss of your license plates
- Impoundment of your vehicle