From the Las Vegas Strip to Hoover Dam to the Great Basin National Park, there are many things to do and see in Nevada. You may own a home or a business or have other possessions like a boat or an ATV. Whatever you have and wherever you go, you will need a properly written Nevada insurance plan to protect yourself, your family and your assets.
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The Difference of an Independent Agent
When you're on the hunt for the right insurance coverage, you have many, many options. There are companies everywhere vying for your business. It's a good idea to educate yourself about your options.
As a general rule, there are two kinds of insurance agents:
- Independent agents work with several reputable insurance companies. They can shop around for policies that match customer's needs and budgets. If you like to see all your options before you buy, this is a great avenue to try.
- Captive agents work for big-name insurance companies that advertise on TV, radio, and in most media outlets. They only sell insurance products from their parent company, and cannot shop around to other insurers for you.
Independent agents live in your neighborhood and know about the risks you face. You can turn to an independent agent for insurance advice and be confident that you're getting unbiased, comprehensive information about the insurance you choose.
Buying Nevada Auto Insurance
Nevada requires that all drivers maintain liability limits of at least $15,000 per person, $30,000 per accident for bodily injury and $10,000 property damage. This is the minimum requirement. Most drivers will want to carry higher limits to protect themselves adequately.
In addition to liability coverage, a complete auto policy will provide the following:
- Uninsured/underinsured motorist coverage
- Medical payments coverage
- Comprehensive coverage
- Collision coverage
- Towing, roadside assistance and emergency rental coverage
Obtaining Nevada Homeowners Insurance
Most homeowners will insure their homes with a homeowners policy. But many homeowners do not realize that they can get the full replacement cost of the home if they carry adequate coverage limits to allow for that. A standard homeowners policy will protect you against the following types of losses:
- Coverage on your home, including any attached garages and storage facilities.
- Coverage on any outbuildings you might have on the premises
- Limited coverage on trees, shrubs and plants
- Coverage on your personal property in the home and on the premises
- Additional expenses caused by a covered loss
- Coverage for bodily injury and property damage liability arising from the property or your activities
- Medical payment for persons injured on the premises even if you are not at fault
Every policy has limitations and exclusions, and you should be aware of yours. You may not be aware of the following:
- Homeowners policies do not cover damage from flood or earthquake.
- There are coverage limitations on some property items, including jewelry, furs, fine art, money and securities, silverware and stamp and coin collections.
If you have exposure in these areas, make sure you get coverage with a rider or a separate policy.
Getting Business Insurance in Nevada
Although a good business insurance program is a job for a professional, you should make sure that your Nevada insurance program includes these basic coverage options:
- Coverage on your building, assuming you own your own premises
- Coverage on your business personal property in the building
- Business property off premises such as goods in transit, mobile equipment and property stored off premises
- Coverage for lost income and extra expenses if you have an insured loss
- General and vehicle liability coverage
- Medical payments for persons injured on the premises, even though you may not be legally liable
- Professional liability coverage if you have an errors or omissions exposure
- An umbrella liability policy to increase your liability limits
- Workers compensation for employee injuries on the job
- An employee benefit program for such things as life, health and disability
- Corporate-owned life insurance to fund a business perpetuation plan or to insure the life of a key employee
This would be a basic plan that almost every business should consider. If you have other exposures, your agent can help you address them separately.
Buying Life Insurance in Nevada
You might want life insurance for one of several reasons:
- You may want personal life insurance to protect your family.
- You may want corporate-owned life insurance to fund a buy-sell agreement or to protect the company from losing a key person who suffers a premature death.
- You may want to add life insurance as an option in your employee benefits plan.
Whatever your reason for getting Nevada life insurance, make sure you get the right type of insurance for your situation. You can choose term life, whole life, universal life or something even more unusual. You can also choose between an individual policy that covers one individual and a group plan that covers all people in a group, such as your employees.
Obtaining Nevada Health Insurance
The advent of the Affordable Care Act (ACA) is leading to many changes in the health insurance market. If you are seeking individual health insurance, you have several options:
- If you presently obtain your coverage through an employer-sponsored plan, you will probably be able to keep that coverage, but your cost or coverage may change.
- If you have no other source of coverage as of October 1, 2013, you can access health insurance quotes on your state insurance exchange. Go to http://exchange.nv.gov for more information.
- You can still shop for coverage on the open market, but it can be confusing and difficult.
You should know that if you have no coverage as of January 1, 2014, or if your coverage does not meet the requirements of the ACA, you will be subject to a fine.
Purchasing ATV Insurance in Nevada
Nevada had 102 deaths between 1982 and 2011 associated with ATV use. Nevada law generally prohibits the use of ATVs on public roads and restricts their use in state parks to designated areas only. There are hundreds of miles of approved off-the-road vehicle trails in Nevada. You are not required to carry ATV insurance, but if you own an ATV, you probably want to make sure you have adequate Nevada insurance protection.
An ATV policy can provide you with the following protection:
- Liability coverage in case you have an at-fault accident
- Physical damage coverage on your ATV in case of damage or loss
- Extra coverage on things such as towing, emergency service and special equipment
In order to reduce your risk of damage or injury, you can do some of these things:
- Take an ATV safety course. You will probably get a credit on your insurance for taking the course.
- Make sure all operators and passengers wear a helmet at all times.
- Do not take any passengers unless your vehicle can accommodate multiple passengers.
- Stay on approved ATV-use trails.
- Make sure you train children to handle the vehicles they are driving properly.
Buying Nevada Insurance
No two people or businesses need exactly the same insurance program. It is important that you work with a professional agent, who can evaluate your needs and help you obtain the Nevada insurance that is right for you at the lowest possible cost. An independent agent can approach multiple markets to obtain the coverage and quotes necessary to complete your insurance program.
Contact a member agent of the Trusted Choice network today. Your agent can help you get the insurance that's right for you based on your specific needs, wants and budget.