Q: What are the minimum car accident insurance requirements in Nevada, and how much do you recommend as a bare minimum if I were to buy up to a reasonable level?
The Nevada law says the minimum limits are $15,000 per individual, per incident, which also subject to $30,000 for each accident for bodily injury. That means that if there are three people in the car, and they are all hurt, they have to split the $30,000 three ways. But, if there is only one individual in the car, the most that person can get is $15,000.
The other limit they have in Nevada is the limit of $10,000 for property damage. All of them are two low: Cars these days are expensive to fix and you can do $10,000 damage easily.
I recommend, if you can afford it, at least $100,000 per person, and $300,000 per accident for everybody. You’d want property damage of more than $10,000, maybe $100,000, because unfortunately, if you hit an expensive vehicle like a Tesla, and you total it, and then you won’t have enough coverage and they’d come after you personally.
I also recommend getting medical payment coverage, commonly referred to as “Med Pay.” This type of insurance will pay you no matter what for your car accident-related medical bills – your deductible, copays, etc. so you are not out of pocket anything.
Learn more about auto accidents.