The Hidden Drawbacks of Cheap Insurance

Nevada Insurance Enrollment Explains Why Cheap Auto Insurance Doesn't Always Save Money

LAS VEGAS - nvtip -- If you're like most safe drivers, you may have a difficult time appreciating how valuable your auto insurance policy is, and it's tempting to skimp on coverage to save a little money. Unfortunately, too many drivers find out too late that their cheap coverage can actually cost a lot of money in the long run.

3 Hidden Drawbacks of Cheap Auto Insurance Coverage

#1: An Accident Can Be Financially Devastating

Car accidents can be expensive, and your auto insurance policy is your best protection against financial devastation if the unexpected happens. While state-minimum coverage is definitely better than no coverage at all, a high percentage of scenarios shows it's not enough for most drivers.

What If You are Responsible for an Accident and Your Vehicle Is Damaged
Bare-bones liability only coverage only covers the other person if you are responsible for an accident. It does not include comprehensive or collision coverage, meaning that if your own vehicle is damaged or totaled, you'll have to replace it or repair it completely out of your own pocket. It won't pay for your medical bills or lost wages or pain and suffering if you are responsible and only have state minimum liability.

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Your Liability Coverage Isn't Good Enough
In Nevada, drivers have to carry liability coverage that includes:

• $25,000 for bodily injury for one person in any one accident
• $50,000 for bodily injury for two or more people in any one accident
• $20,000 for property damage in any one accident

While this sounds like a lot of money, if your responsible for an accident that seriously injures several people or if there are $40,000 in car repair expenses, you'd be financially responsible for any expenses beyond your policy limits.

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Learn more:

Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554

Nevada Insurance Enrollment
Shelly Rogers

Source: Nevada Insurance Enrollment
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