Nevada has a reputation for some of the country's worst auto insurance rates. A study found that they ranked as the sixth worse state for road rage in the US. As a Nevada business owner, you must have a commercial property insurance policy to protect your vehicles from risks on the road. Commercial auto insurance is one of the best ways to protect yourself from liability and vehicle damage. This article will look at the unique aspects of Nevada commercial auto insurance, including cost, components, and add-ons.
Commercial auto insurance is a policy that protect your business from financial losses that result from operating vehicles. Your commercial auto policy typically must have liability coverage and will often cover damage to your vehicles. Liability coverage will protect you against the costs of paying for bodily injury and property damage to another party.
Auto accidents may be more common than you think they are in Nevada. Below are a few notable Nevada auto accident statistics. This comes from the Nevada Department of Transportation crash map from 2016-2020.
| Total Crashes | 237, 338 |
|---|---|
| Crashes that resulted in only property damage | 135,789 |
| Injury crashes | 100,060 |
| Fatal crashes | 1,489 |
| Urban fatal crashes | 70% |
| Rural crashes | 30% |
According to the official data, Las Vegas has the most significant number of crashes in the state. It is highly recommended that you purchase a commercial auto insurance policy las vegas nv, because of the potential risk to your business that increased accident rates cause.
The Las Vegas Review-Journal estimates that car insurance in Nevada has some of the highest insurance rates in the US. The increased rates of commercial auto insurance las vegas nv exist because of the 24/7 type of economy that drives activity in the densely populated centers of Las Vegas. The article blames Nevada's high cost of car insurance on Las Vegas insurance customers, driving up the price for the rest of the state.
Below are some of the standard core components for Nevada commercial auto insurance policies.
Your auto liability insurance is split into two coverages bodily injury, and property damage. Bodily injury helps you pay for medical bills for injuries your vehicles cause. Property damage will pay for damage to property like other vehicles, buildings, and road objects.
A medical payment policy will pay out medical costs to the drivers and passengers of your vehicles. You get these payouts regardless of who is at fault. This policy is a good option for getting prompt payouts instead trying to sue someone else for medical costs they are responsible for.
Your collision coverage will protect your vehicle from the damage of collisions.. Some covered examples include:
Other vehicles on the road
Your vehicle overturning
Road objects
Stationary objects
Collisions when your vehicle is parked
An insurance policy with comprehensive coverage will help protect your vehicle from other causes of damage besides collisions. Examples include:
Theft
Vandalism
Intense weather
Fire
Breaking glass
Hitting an animal
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Nevada commercial auto issuance can be further customized through add-ons. These add-ons offer additional events that you can cover.
An auto glass policy is sometimes called a windshield shield. This policy can protect damaged or repaired windshields for just a few dollars a month. If you already have comprehensive coverage, you will not need this policy.
This policy protects vehicles you have financed. If your loan payments exceed the payout from a damaged vehicle, this policy will help you make up the difference. Since financed vehicles accumulate interest, there is often a gap in coverage between the value of your vehicle and how much you still owe on it.
Rental reimbursement insurance helps you pay for the costs of rented vehicles. You may need to rent vehicles if one of your business vehicles has been in an accident and you are waiting for repairs or a replacement.
This protects you if another driver’s insurance can not adequately pay for losses the cause. This policy will help you pay for medical bills in cases where the other driver hits and runs.
This add-on will help you pay for and coordinate services for vehicles that break down. This policy will include things like towing costs and other roadside services.
Nevada commercial auto insurance requires vehicle operators to have certain types and levels of coverage in their policies. Any policy that you buy in Nevada will have the following component requirements.
Nevada has a bodily injury and property damage auto liability requirements of 25/50/20.
| Bodily injury per person | Bodily injury per accident | Property damage per accident |
|---|---|---|
| $25,000 | $50,000 | $20,000 |
Some commercial auto insurance policies can have a combined single limit. This policy combines the limit for bodily injury and property damage. In this case, Nevada requires at least $95,000 per accident.
Nevada requires all auto insurance policies to offer customers medical payment coverage of at least $1,000. However, you can reject this coverage if you do not want it.
Some industries in Nevada are allowed you to have a garage liability policy instead of a commercial auto policy in some situations. These industries include:
Car dealers
Manufacturers
Transporters
Rebuilders
Distributors
Body shops
Professional drive schools
Salvage pools
Wreckers
Trailer dealers
Your garage liability policy will still need the same liability coverage of 25/50/20 or a combined single limit of $95,000.
In vehicle insurance, a total loss is when the value of your car is exceeded by the damages done to it. Insurers determine the value of your vehicle through a calculation called actual cash value. Actual cash value is the value of the vehicle minus depreciation costs. As the cost of your vehicle goes down, it may not be worth the money to buy optional coverages to protect it from damage.
You will want to consider investing in a new vehicle at a certain point. Older vehicles may be expensive to repair at the end of their lifespans. Sometimes that money can be better spent putting a down payment on a new vehicle than paying the cost to repair the older one.
Commercial auto insurance in Nevada has many different types of coverage. The list of policy coverage can be daunting to first-time buyers. However, please note that some events are typically excluded from your policy. These events include:
Handling property: Business property damage not in the process of loading and unloading will often not be covered. Be careful not to assume your policy will protect these events.
War Events: If a military conflict or rebellion breaks out, it will typically be excluded from coverage.
Pollution spills: You will not be covered if you are transporting hazardous materials and causing a pollution event. This event will be covered under a pollution liability insurance policy, which may be purchased as an endorsement or separately. However, your commercial auto insurance will cover pollution from reasonable events like oil and gasoline leaks. This is because these materials are inherent to the vehicle’s operation.
Intentional and inherently risky acts: Some policies will not cover the damage if one of your employees is driving while intoxicated or impaired. Also, intentional acts likely to damage the vehicle or others will not be covered.
Commercial auto insurance in Nevada has many different types of coverage. The list of policy coverage can be daunting to first-time buyers. However, please note that some events are typically excluded from your policy. These events include:
Handling property: Business property damage not in the process of loading and unloading will often not be covered. Be careful not to assume your policy will protect these events.
War events: If a military conflict or rebellion breaks out, it will typically be excluded from coverage.
Pollution spills: You will not be covered if you are transporting hazardous materials and causing a pollution event. This event will be covered under a pollution liability insurance policy, which may be purchased as an endorsement or separately. However, your commercial auto insurance will cover pollution from reasonable events like oil and gasoline leaks. This is because these materials are inherent to the vehicle’s operation.
Intentional and inherently risky acts: Some policies will not cover the damage if one of your employees is driving while intoxicated or impaired. Also, intentional acts likely to damage the vehicle or others will not be covered.
No. Nevada is an at-fault state. This means the onus of injuries in an accident falls on the party that is at fault. In Nevada, you are not required to purchase no-fault insurance, also called personal injury protection. In an at-fault state, the liable party’s insurers will pay out benefits to the injured party.
Your insurance company will take several factors into account when deciding the cost of your insurance. These factors include:
Your driving record
Previous insurance claims
The area your business operates in.
Your credit history
The make and model of your commercial vehicles
A deductible is the money you must pay before an insurance company starts covering events. For example, you have a repair bill of $1,500 and a deductible of $1,000. This means that you will have to pay a total of $1,000 before the insurer will cover the remaining $500.
Typically you will have different options when choosing your deductible. You may be tempted to get the lowest deductible possible. However, a lower deductible will correlate with a higher policy cost. Conversely, a higher deductible will result in a lower policy cost.
You will want to consider how much your vehicle is worth and weigh that number against the cost of any potential repairs. If you are less likely to file a claim, then a low deductible makes sense since you will have lower total costs. However, a higher deductible can make sense if you don’t predict a high frequency of accidents. Deciding your deductible is like betting on your accident odds.
Commercial auto insurance in Nevada is $45 per month or $540 per year. Here’s a table comparing the rates of the best companies:
| Company | Cost per Month | Cost per Year | Best for |
|---|---|---|---|
| NEXT | $29 | $348 | Overall best choice for Nevada commercial auto insurance |
| The Hartford | $34 | $408 | extra perks for commercial auto insurance |
| CoverWallet | $32 | $384 | Nevada commercial auto insurance online comparison shopping |
| Tivly | $36 | $432 | Comparing commercial auto insurance quotes over the phone |
| Thimble | $38 | $456 | Getting quick commercial auto insurance coverage |
| Hiscox | $41 | $492 | Customized Nevada commercial auto insurance |
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Before you go, please look at our reviews of Nevada’s best commercial auto insurance companies. Each company offers different advantages for its insurance services.
Bundle your commercial auto policy with other business insurance and save 10%
Lots of coverage options
A- (excellent) rating from AM Best
None
NEXT offers comprehensive commercial auto insurance at a competitive price. You will find coverages like underinsured motorists, rental reimbursement, towing, and more. The company has a B+ with the Better Business Bureau.
Best for: Overall best choice for Nevada commercial auto insurance
Average cost: $29 per month
Our rating: 10/10
Disappearing deductible saves you on commercial auto insurance
Online resources like car insurance calculator
Discounts for good driving records
Traditional customers might need help figuring out their online service
The Hartford covers your business vehicles in a variety of situations. You can get hired and non-owned insurance, rental car coverage, and medical payments coverage, among others. They are a well-established company whose direct premiums exceeded $11 billion in 2022. The Hartford has an A- from AM Best. They also have an A+ from the Better Business Bureau.
Best for: Extra perks for commercial auto insurance
Average cost: $34 per month
Our rating: 10/10
Top names in commercial auto insurance
Save time by comparison-shopping your commercial auto policy
Manage all your policies from one convenient place
Is a broker, not an insurer
CoverWallet is an insurance broker that connects you to top insurers like Hiscox, Chubb, Markel, and Progressive. You will always have options with CoverWallet. They offer policies that cover a range of vehicles, from cars to semi-trucks.
Best for: Nevada commercial auto insurance online comparison shopping
Average cost: $32 per month
Our rating: 10/10
Resources for learning about commercial auto insurance
Solution-centric approach to insurance
Choose from over 200 insurers
Lacks convenience features like a mobile app
Tivly is an insurer with an A rating from the Better Business Bureau. Their online network of 200 insurers may seem intimidating, but they do their best to simplify it. You can call to get a quote and quickly get on your way to a comprehensive commercial auto insurance policy. Call now to compare quotes over the phone.
Best for: Comparing commercial auto insurance quotes over the phone
Average cost: $36 per month
Our rating: 10/10
A dedicated section for Nevada business insurance
Purchase your policy and keep your proof of insurance quickly
Convenient mobile app to track claims
Service call times can be long
Thimble can be your quick solution to commercial auto insurance coverage. They boast a quick process to get you a policy within 60 seconds. Just a little bit after that, you will have your proof of insurance and also some peace of mind. Thimble has an A+ rating from the Better Business Bureau.
Best for: Getting quick commercial auto insurance coverage
Average cost: $38 per month
Our rating: 10/10
5% discount when combining your commercial auto insurance with other policies
Get a refund for your policy within 14 days
Home-based business discount
Small-business focus for specific policies
Hiscox is the best insurer on this list for tailored policies. Their insurance process helps you narrow down your choices and get coverage that you actually need. By bundling your commercial auto insurance, you can save even more. Hiscox has an A rating from AM Best for financial strength. They also have an A+ rating for long-term issuer credit.
Best for: Customized Nevada commercial auto insurance
Average cost: $41 per month
Our rating: 10/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Not all those who wander are lost.
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