Question 1

Do I need auto insurance?

Accepted Answer

In the State of Nevada, if your vehicle is registered then you are required to carry liability insurance. The minimum liability coverage limits required in Nevada are $25,000 in bodily injury liability per person, $50,000 in bodily injury liabilliy per accident, and $20,000 in property damagae liability. Failure to maintain minimum liability coverage can results in fines from the DMV and even a suspension of your vehicle registration.

Question 2

What is 'full coverage'?

Accepted Answer

Full coverage can mean a lot of things. Generally at Adapt Assurance we do not use the term full coverage, as we want you to have a clear understanding of what is covered on your policy and what is not. If you have a lease or loan on a vehicle, your lender might say that you are required to carry full coverage. This means that in addition to your liability insurance, you also need comprehensive and collision coverage. Comprehensive and Collision both cover costs to repair damage to your vehicle. Don't think that if someone tells you that you have full coverage that you are covered for everything, as you may not have rental car coverage, or emergency road side service.

Question 3

What is Gap Insurance? Do I need it?

Accepted Answer

Gap Insurance is coverage that pays for the difference between what owe on a car loan versus what your insurance company will pay for the car in the event of a total loss or theft claim. Let's take a look at an example: You purchase a new car for $25,000 and pay the loan down to $20,000 in a year, but because new cars tend to lose value quickly, the car is now worth $17,000. In the event of a total loss or theft claim, your insurance company is going to pay out $17,000 for the vehicle, so your gap insurance would cover the remaining difference of $3,000 to satisfy your loan.

Question 4

What is an SR-22?

Accepted Answer

An SR-22 is a Financial Responsibility filing required by the DMV. SR-22s can be required for a few reasons but the most common include being charged with a DUI/wreckless driving or having a lapse in insurance greater than 91 days in Nevada. The cost of an SR-22 filing is in most cases percentage based from your auto insurance policy. Depending on why you are needing as SR-22, you may have to keep it for 3-5 years. It is important not to let your SR22 lapse, otherwise the time period starts over.

Question 5

What possible discounts can I get on auto insurance?

Accepted Answer

There are plenty of ways to save when it comes to auto insurance. At Adapt Assurance we make sure to go over your policy in detail to maximize your savings. You can potentially receive discounts for different safety features on your vehicle such as lane sensors and automatic locks. You can also receive discounts for being accident free. Drivers under 25 can also potentially receive student discounts and youthful safe driving discounts.

Question 6

What is uninsured/underinsured motorist coverage?

Accepted Answer

Uninsured motorist coverage in Nevada provides bodily injury coverage to you and your passengers in the even that you are struck by a person driving with no insurance. It is important to keep in mind that in Nevada, uninsured motorist will not provide coverage to your vehicle. Underinsured motorist is usually included with uninsured motorist, and is essentially the same except it can provide bodily injury coverage to you and your passengers if the driver who struck you had insurance but just not enough to cover the cost of your medical expenses.

Question 7

Do I need renters insurance?

Accepted Answer

In most cases, you are required to carry renters insurance if you are renting your residence. Renters insurance can cost as low as $10 a month and it provides a wide array of coverage. The owner of the residence is required to insurance the dwelling and structure of the residence, while your renters insurance provides personal property coverage in the event that your items are stolen or damaged. Without renters insurance, your items are not protected. Renters insurance also can help cover your cost of living if you are forced to temporarily relocate while your residence is being repaired.

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