My car insurance was recently up for renewal and I thought I would put some effort into shopping around.
Many of us that decide to take out that cheap car insurance option will, in the event of making a claim, feel let down by the insurance company somewhat. If you have you ever had to make a claim against your insurance then you may agree with what I'm saying - I bet some of you will have had to chase the insurance company to get things sorted out, alot of you will maybe have had a game of tug-of-war with the insurer about the costs of the claim, and I would risk a fair stack of chips (we are in Las Vegas after all!) on most having found it stressful.
The National Association of Insurance Commissioners included, in its annual report of 2008, 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 noticeably less at only $937 per vehicle.
While car insurance is a significant annual cost for most residents of the US, it 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 ensure that you get a good deal for your money, make sure you are aware of what you are getting for your dollar. I consider a good policy to be one that meets your minimum liability by law yet also provides other levels of cover that you require without incurring any issues from the insurance company should you need to make a claim. Check out your intended insurance company carefully, do they have a good reputation?
Bodily injury and property damage cover can be purchased as what is known as split-limit cover or combined single-limit cover. If you choose to pay for a combined single limit, then the figures for property damage and bodily injury are combined ie. $40,000 is the minimum (required under Nevada law) combined single limit for all property damage and bodily injury.
Comprehensive and collision cover are not strictly required by law in Las Vegas, under Nevada law but you may find that it is offered to you by your insurer. 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
Again, medical payments or uninsured/under-insured motorist cover are not strictly required under Nevada law, but all insurance companies are required to offer it to you by law with a level of cover of at least $1000 and uninsured/under-insured motorist cover at an amount equal to your bodily injury cover (this is to protect you in the event you have an accident with another party who is found at fault but does not have the minimum levels of cover required).
If you are planning on a car lease in Las Vegas or elsewhere in Nevada, then we would advise you to check your lease agreement carefully since they commonly 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. These are minimum auto insurance requirements for Las Vegas and the state of Nevada as a whole. - 30229
Many of us that decide to take out that cheap car insurance option will, in the event of making a claim, feel let down by the insurance company somewhat. If you have you ever had to make a claim against your insurance then you may agree with what I'm saying - I bet some of you will have had to chase the insurance company to get things sorted out, alot of you will maybe have had a game of tug-of-war with the insurer about the costs of the claim, and I would risk a fair stack of chips (we are in Las Vegas after all!) on most having found it stressful.
The National Association of Insurance Commissioners included, in its annual report of 2008, 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 noticeably less at only $937 per vehicle.
While car insurance is a significant annual cost for most residents of the US, it 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 ensure that you get a good deal for your money, make sure you are aware of what you are getting for your dollar. I consider a good policy to be one that meets your minimum liability by law yet also provides other levels of cover that you require without incurring any issues from the insurance company should you need to make a claim. Check out your intended insurance company carefully, do they have a good reputation?
Bodily injury and property damage cover can be purchased as what is known as split-limit cover or combined single-limit cover. If you choose to pay for a combined single limit, then the figures for property damage and bodily injury are combined ie. $40,000 is the minimum (required under Nevada law) combined single limit for all property damage and bodily injury.
Comprehensive and collision cover are not strictly required by law in Las Vegas, under Nevada law but you may find that it is offered to you by your insurer. 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
Again, medical payments or uninsured/under-insured motorist cover are not strictly required under Nevada law, but all insurance companies are required to offer it to you by law with a level of cover of at least $1000 and uninsured/under-insured motorist cover at an amount equal to your bodily injury cover (this is to protect you in the event you have an accident with another party who is found at fault but does not have the minimum levels of cover required).
If you are planning on a car lease in Las Vegas or elsewhere in Nevada, then we would advise you to check your lease agreement carefully since they commonly 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. These are minimum auto insurance requirements for Las Vegas and the state of Nevada as a whole. - 30229
About the Author:
Teri is an insurance actuary for a company in Las Vegas. She writes for the Nevada auto insurance guide where car drivers can find more resources for buying auto insurance in Las Vegas and Nevada.
