Commercial Auto Insurance Minimum Requirements in Nevada

Determine the Required Amount of Coverage

Contact insurers and figure out how much coverage you need. The insurers will talk to you about:

• Who owns the vehicle(s)

• Weight of the vehicle(s)

• Usage of the vehicle(s)

• Liability limits requirements

Vehicles Weighing Less Than 10,001 Pounds

For vehicles weighing less than 10,001 pounds, the state requires minimum coverage of:

• $15,000 for bodily injury or death of one person in any one accident

• $30,000 for bodily injury or death of two or more people in any one accident

• $10,000 for injury to or destruction of others' property in any one accident

Bear in mind that these are minimum amounts. In order to protect your business assets, you will likely need more than the minimum.

Commercial Vehicles Weighing 10,001 Pounds or More

The Nevada Transportation Authority has different requirements for heavier commercial vehicles. For commercial vehicles weighing from 10,001 pounds to 26,000 pounds, required insurance coverage is as follows:

• $300,000 bodily injury or death of one person in any one accident

• $300,000 for bodily injury or death to all persons in any one accident

• $300,000 for loss or damage in a single accident to the property of others, except for cargo

For commercial vehicles weighing from 26,001 pounds to 80,000 pounds, required insurance coverage is as follows:

• $750,000 bodily injury or death of one person in any one accident

• $750,000 for bodily injury or death to all persons in any one accident

• $750,000 for loss or damage in a single accident to the property of others, except for cargo

If you need more information, contact the Nevada Transportation Authority at (702) 486-3303.

Purchase a Commercial Policy

It’s important to get several quotes. Both private companies and specialized commercial companies sell commercial insurance; check with both. Insurers will suggest different coverage amounts and plans according to what they think your needs are, and you will have to decide on the best one for your budget and your coverage needs.

Electronic Reporting

Every month, state insurance companies notify the DMV of who canceled their insurance policies or got new ones. The names must match on the insurance and registration.

If your insurance company notifies the DMV that you no longer have insurance, the DMV will send a notice to the registered owner to verify their insurance policy.

Remember to inform the DMV of any name and address changes so these won’t be a problem.

Proof of Insurance and Financial Responsibility

You must carry proof of insurance with you at all times. The insurance company will issue you a card.

Penalties for Failure to Maintain Financial Responsibility

If a peace officer stops you, they will ask you to show proof of insurance. Having no proof of insurance could result in a citation and fine.

If you have no insurance at all and get in an accident that is your fault, you face suspension of your driver’s license and registration, and you'll need to make a deposit with the DMV or make payment arrangements to pay for the accident damages.