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1 in 3 Nevada motorists may see rise in auto insurance rates

Posted at 12:03 PM, Mar 11, 2018
and last updated 2018-03-12 13:36:48-04

One in three Nevada motorists could face a 9 percent jump in auto insurance rates July 1, when the state raises the basic required minimum for bodily injury and property damage coverage.

Officials say that could mean roughly $10 more a month for 600,000 people who currently have minimum bodily injury coverage of $15,000 per person and $30,000 per accident, plus basic $10,000 per accident in property damage.

Those minimum coverage requirements are going up to $25,000, $50,000 and $20,000, respectively.

The Nevada Division of Insurance told lawmakers who approved the increase last year that some policyholders could see jumps of more than $45 a month if they also maintain minimum coverage for uninsured or underinsured motorists.

Reno lawyer and legislative advocate Mark Wenzel says the increase recognizes that the cost of vehicles and medical expenses have risen since the base level was last set in 1958.