Effective July 1, 2018 in Nevada obtaining and maintain minimum liability coverage of 15/30/10 will no longer be acceptable. The new Nevada liability limits will be increased to 25/50/20. To ensure you are in compliant with State law many insurance carriers has began increasing liability limits on renewal applications. Currently customer insurance premium has increased between $30-$40 per month due to the change. Once the change has been made you may be required to sign an additional document, waiving the uninsured and underinsured motorist coverage from your policy. This valuable coverage provides insurance coverage if you are involved in an accident and the other driver does not have insurance, or not enough liability insurance coverage. The most common reasons to have this coverage is in the event of a hit and run accident.
Before rates are implemented in Nevada the insurance rates must first be submitted and approved by the Nevada Department of Insurance. The Nevada Department of Insurance considers many factors when approving insurance rates in Nevada. One consideration is public comment. Public comment can be sent to the Nevada Department of Insurance using the divisions online website. The website address is www.doi.nv.gov
Insurance Group of Nevada consistently analyzes the Nevada insurance market to help consumers save the most money on auto, home, and health insurances.