Auto Liability and You

Thank you to our Agent, Victoria Sutherland, for contributing to our Blog!

Auto liability coverage is the insurance that pays out to the person or persons you injure in an accident that you cause.  Currently here in Nevada we are only required by law to carry 15/30/10 ($15,000 for one injury or death, $30,000 for two or more and $10,000 for property damage.)  But those limits were established in 1958.  Today one visit to an emergency room can cost $15,000.  Add in an ambulance ride or overnight stay and…. Well you see where this is going.

That changes as of July 1st.  SB308 was passed a few months ago and requires 25/50/20.  That is to say, $25,000 for one injury or death, $50,000 for two or more and $20,000 for property damage.   While this new law may seem punitive it was or is a necessary change.  Remember, the cost of care has gone up and along with it the number of litigations.

How is this going to affect your insurance if you currently have only 15/30/10?  Some companies are already requiring the higher limits for new or renewing customers.  Others will make the change when required.  While no one knows for sure what the new premium costs will be we can probably be safe in assuming they will be higher.

There are a few things you might be able to do to lower your cost.  Keep your credit rating as high as possible.  It’s a big rating factor but most people don’t realize it.  Raise your comprehensive and collision deductibles.  You might be able to give up optional coverages like medical payments or roadside assistance.  Talk to your agent about available discounts and do a thorough review. We are here to help you in anyway we can.  

Please feel free to call us if you have any questions.  Kelli, Gina and myself are available for you.