A straightforward analysis of SB308, the Nevada State Minimum Policy Limits Increase, brought to you by the Las Vegas personal injury attorneys at The Injury Firm.

After years of lobbying, the Nevada legislature has finally agreed to raise the Nevada state minimum policy limits from 15,000/30,000 (meaning $15,000.00 per individual claimant and $30,000.00 for the entire claim for all individuals involved) to 25,000/50,000. This increase will become effective July 1, 2018. The property damage minimum will increase from $10,000 to $20,000.00. These requirements are for liability limits on bodily injury (B.I.) claims and there are still no minimum coverages required for UM/UIM (uninsured motorist/underinsured motorist) claims. Read an in-depth review of SB308

Opposition to the bill: higher limits means a higher premium.

Some critics of the bill claim that this increase will unnecessarily increase policy premiums, some estimate up to a $45.00 monthly increase, resulting in even more people failing to maintain insurance on their motor vehicles. However, this line of thought ignores the fact that the Nevada Department of Motor monitors and strictly enforces any lapse in coverage. Insurance companies are required to report any lapses in coverage to the Department of Motor Vehicles, which in turn quickly fines the non-compliant motorist(s).

Other critics of the bill claim that the increase is too little too late. The last time that minimum insurance coverage was changed was 1958. Taking inflation into consideration, the policy limits should actually be upwards of $125,000.00. Regardless, proponents of the increase acknowledge that the increase will permit additional medical care, and allow car accident victims to more adequately treat for their injuries.

If you have been injured in a car crash in Las Vegas, Nevada, you should immediately contact the Injury Firm Las Vegas to set up a free at home consultation with one of our highly experienced attorneys. We pride ourselves on offering the best representation possible for all types of motor vehicle accidents.