Because a lot of people in this state are driving with very low insurance limits (Nevada State mandates only $15,000/$30,000 in coverage, which means the most a single person can get is $15,000), or no insurance at all, if one of these people hits you, there is no way to pay for your medical bills, lost wages or future medical care.
Simply put, you are out of luck.
But this is not a game of luck. You can protect against this, and purchase uninsured/underinsured motorist coverage. Every insurance company in Nevada that sells auto insurance must offer uninsured/underinsured motorist coverage.
The coverage kicks in when another driver causes a collision, and they have no insurance or not enough insurance. Your own insurance will step in and cover your losses up to the policy limits.
One common misconception is that uninsured/underinsured motorist coverage will pay for damages caused by you and suffered by another person if that person doesn’t have insurance. This is not true. That is what your liability coverage takes care of.
Additionally, many underinsured/uninsured motorist coverage also covers you when you are struck by a car while you are a pedestrian or cyclist.
Yes, you can take the chance that you are never in a car accident or that, if you are, the motorist is insured with a lot of insurance. However, if you’re in a serious accident where a motorist is underinsured or not insured at all, it is best to cover all your bases to later avoid potential major financial strain or issues in court.
If you have questions about this or any other type of insurance, contact Richard Salvatore at the Winter Street Law Group, and he will be happy to meet with you and explain your options. Call 775-786-5800.