With so many different types of car insurance policies available, all with varying amounts of coverage, it can be difficult to decipher what insurance you actually need to have, as opposed to the insurance that your insurance agent would like to sell you. The reality is that you don’t have an unlimited amount of money to pay your car insurance premiums, so you need to know what type of car insurance policy that you are required to have under Nevada law. This knowledge will ensure that you both comply with the law and obtain the coverage that you need in the event that an accident occurs.
What Are the Minimum Requirements for Car Insurance Coverage in Las Vegas and Nevada?
According to the Department of Motor Vehicles, Nevada law requires that drivers maintain automobile insurance liability policies in the following minimum requirements:
$15,000 for bodily injury or death of one person in any one accident;
$30,000 for bodily injury or death of two or more persons in any one accident; and
$10,000 for injury or destruction.
There are, however, a number of uninsured drivers in Las Vegas, who are not carrying the adequate amount of insurance or who do not possess any coverage at all.
Do I Have to Get Insurance Before I Register My Vehicle?
Yes, you have to get insurance before you register a new vehicle. You have to show your Nevada Evidence of Insurance card in order to register your car. In fact, if you drop the required liability coverage on your vehicle for any reason, at any point, you must surrender your car registration and license plates.
Can I Have an Insurance Policy From Out of State?
No, you are required to have an insurance policy written by an insurance agent or insurance company that is licensed in Nevada.
What Happens if I Let My Insurance Coverage Lapse?
If you let your insurance coverage lapse for even one day, or if the DMV cannot verify that you have insurance coverage through your Vegas insurance company, the DMV will send you a certified letter notifying you that your vehicle registration will be suspended. Any suspension for a lack of insurance takes effect ten days following the date that the DMV mailed the letter.
Are There Other Penalties if I Let My Insurance Coverage Lapse?
Nevada law sets penalties for a lack of vehicle insurance coverage based on how long you went without insurance and how many times you have let your insurance lapse in the past. You will have to pay a reinstatement fee and a fine; the amount of both the fee and the fine increase with each subsequent offense within a five-year period. Furthermore, depending on how long and how many times you go without insurance, you may have to maintain SR-22 insurance. The DMV also can suspend your driver’s license for a minimum period of 30 days after your third offense in five years. After a license suspension, you must pay an additional license reinstatement fee to the DMV.
What is SR-22 Insurance?
SR-22 insurance is a Certificate of Financial Responsibility that your Vegas insurance company or agent will provide to the DMV. Any driver who allows his or her insurance coverage to lapse for 91 days or more must carry SR-22 insurance for at least three years. If you drop SR-22 coverage, your insurance agent must notify the DMV immediately, which will result in both a driver’s license suspension and suspension of the registration of all of your vehicles.
Is There Any Kind of Grace Period for Me to Get Insurance?
No. Nevada law does not permit any grace period. If your insurance coverage lapses for even one day, you are subject to the penalties for not maintaining the required insurance policy, which can result in fees, fines, and a driver’s license suspension, depending on the circumstances.
Contact Your Las Vegas Personal Injury Lawyers for Help Today
At the Ladah Law Firm, we pride ourselves on representing the interests of those who have been injured in all types of accidents, from car crashes to truck accidents, from medical errors to slip and fall accidents. While you focus on healing from your injuries, both physical and emotional, we will focus on your financial recovery from those who are responsible for the accident. We are dedicated to obtaining a fair and just settlement on your behalf that truly compensates you for your losses. You can call us at 702.570.2104, 24 hours per day, and set up an appointment with one of our experienced Las Vegas personal injury attorneys.