Minimum Insurance Policies

MINIMUM INSURANCE POLICIES IN RENO

Discuss Your Case with a Reno Car Accident Lawyer

In order to drive on public roads, Nevada law says that all drivers must be licensed and carry a minimum amount of financial responsibility through car insurance. The minimum amount each driver is required to carry is known as 15/30/10, or $15,000 for injuries per person (up to a maximum of $30,000), and $10,000 in property damage. However, this minimum coverage is not the same as the recommended amount of coverage that drivers should carry to fully protect themselves in the event of a car accident. It may seem like a lot of money but many people are shocked to learn that it is strongly advised drivers carry no less than $50,000 per person (up to $100,000) in coverage.

If you are hospitalized as a result of a car accident, it’s imperative that you discuss your legal options with a Reno car accident attorney as soon as possible. At Joey Gilbert Law, we firmly believe in protecting your rights after a car accident, and we are fierce advocates for our clients through every step of their case. We’ve successfully recovered millions of dollars in compensation for injury victims, and we don’t collect a dime from any of our clients unless we are successful in recovering on their behalf.

Dangers of Minimum Coverage

Drivers who have only minimum liability insurance are a huge risk to both themselves and drivers on the road with them, and for this reason we at Joey Gilbert Law encourage all drivers to purchase a more-expansive $50,000/$100,000 policy, along with $5,000 in uninsured motorist insurance (more on that in a moment).

Let’s look at an example. Say you and your friend are driving together and are hit by a driver who has minimum insurance only. Both of you are hospitalized and sustain $20,000 in medical bills for transportation, treatment, and more. Minimum insurance has a limit of $15,000 per person, with a maximum of $30,000 per incident. This means that both of you will only be covered for 75% of your medical costs, and both of you will be left with $5,000 in expenses once this coverage is exhausted! Likewise, if your car is totaled, you will only be compensated by their insurance for up to $10,000 of it. If your car is less than five years old, there’s a strong chance it’s worth more than this.

As you can see, having only minimum insurance means your policy can run out quickly and you could find yourself facing even more serious consequences or difficulties obtaining the compensation you are entitled to. Having a car accident attorney in Reno on your side can help you protect your right to compensation and make sure you receive the financial relief you need for your injuries, property losses, lost income from missed work, pain and suffering, and much more.

Good Insurance to Have

While minimum insurance can get you on the road and driving legally, you should really make sure you have enough insurance to keep you adequately covered for anything that happens. Aside from liability coverage, purchasing some additional insurance coverages can make sure you receive the financial relief you need in the event you are injured in an accident.

All Nevada drivers should carry:

• Collision insurance: In the event your car is damaged in an accident, this coverage picks up the tab for the damages to your vehicle that are deemed to be your responsibility (usually after an out-of-pocket deductible that is your responsibility).
• Comprehensive insurance: This coverage pays for anything that damages your car that is not a collision, such as a falling tree branch, flooding, fire, or theft.
• Uninsured/uninsured motorist insurance: If you are hit by a driver who is uninsured or not insured enough to cover an incident, this coverage can help bridge the gap on your losses. This is also great to have in the event of a hit-and-run incident, which are unfortunately becoming more common. We strongly advise all drivers carry at least $5,000 in uninsured and underinsured motorist coverage.
• Med Pay Insurance: If your health insurance does not cover all of your medical bills, Med Pay insurance helps absorb the costs up to the policy maximum. Primary Med Pay insurance will pay the cost of your medical bills and submit any uncovered amounts to your medical insurance, while secondary will pay any costs your medical insurance does not pick up (such as co-pays or your personal portion on PPO plans that only cover up to a certain percentage).