Sunday, September 18, 2011

Cheap Auto Insurance Program Upheld by Nevada Assembly

Breaking news for our Nevada drivers, the Nevada Assembly supported a bill to execute a cheap auto insurance pilot program, with evaluation on motor vehicle accountability policies backing up the operation and promotion of the insurance pilot program.

Drivers who have purchased vehicles worth twenty thousand dollars and falls below the federal poverty line are able to meet the requirements as they have been set as standard of the low-cost car insurance pilot program.

At present, the state law mandates all vehicles to have $15,000 insurance coverage per person, $30,000 bodily injury coverage for 2 or more people per accident, and property and casualty damage coverage of $10,000 per accident.

The Assembly Bill 299 implies lowering the requirements of the cheap auto insurance policy, as a result, $10,000 coverage per person that has been injured or died at the moment of the collision, $20,000 coverage for 2 or more persons injured per accident, & $3,000 coverage for property damage per accident.

As mentioned, it is also the Commissioner’s duty to ensure that the rate has ample amount to cover losses under the pilot program.

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