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Nevada increasing the minimum insurance limits drivers are required to carry

The State of Nevada has enacted Senate Bill 308 (SB308) increasing the minimum auto insurance limits each driver is required to carry. Effective July 1, 2018, the minimum insurance limits will increase to 25/50/20 ($25,000 per person/$50,000 per accident for bodily injury liability and $20,000 for property damage liability). The current state law requires each driver to carry 15/30/10 ($15,000 per person/$30,000 per accident for bodily injury liability and $10,000 for property damage).

Auto Insurance rates in Nevada have been on the rise for the past several years and it will only get worse when the law goes into effect on July 1, 2018, as insured’s carrying the current state minimum limits can see rate increases of 10%-30% or higher.

Some of the reasons for the increase in auto insurance premiums are:

1.      More miles driven

3.148 trillion miles were driven in 2015. That’s a 3.5% increase over 2014 — the largest annual increase in 25 years. More miles driven equals more cars on the road which leads to a higher probability of accidents, and we’ve seen just that with a higher accident frequency.

2.      Increase in traffic fatalities

Traffic deaths decreased 22% from 2000 through 2014. Estimations for 2015 show a 7.7% increase over 2014. You read that correctly. After a steady 14-year decline, traffic deaths jumped which matches an increase in accident severity that we’ve seen. 

3.      Bodily Injury claims are higher

The average cost of bodily injury claims rose 32.1% between 2005 and 2013. Part of this increased cost is due to increased accident severity. The cost of medical care is also rising. 

4.      Cars are more expensive to repair

Vehicles are more costly to repair because they include more technology like sensors and backup cameras. A few years ago, there were only a few cars with these safety features on the road, now they’re becoming standard. Newer cars are more expensive to replace because what used to be a minor bumper replacement on an older car now involves replacing those sensors and cameras as well.

5.       Distracted Driving

The National Safety Council estimates one in four car crashes involves cell phone use.  A recent AAA report shows 87% of drivers engaged in some kind of risky behavior behind the wheel. 70% of drivers admitted they talk on a cell phone while driving and 42% said they read texts or emails while driving.


If you have your auto insurance with a carrier that has increased your insurance rates due to any of the factors outlined above, now would be a great time to contact First Dependable Insurance for a quote. As an independent insurance agent we represent a dozen different auto insurance carriers (One of which will be perfect for you).