Collision Insurance in Las Vegas, Nevada
No matter how careful of a driver you are, you may find yourself in a situation where a collision is unavoidable: you may hit a wet patch on the road and lose control of your vehicle, the person in front of you could brake suddenly, you may hit a pet that runs out in front of your vehicle, or a tire blowout may cause you to swerve into another vehicle. Car repairs can be expensive, and what appears to be a minor repair could set you back hundreds, or even thousands of dollars.
Collision coverage is an auto insurance coverage option that helps to pay repair or replacement costs to your vehicle if you are in a collision.
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Is Collision Coverage Required in Nevada?
You are not required to carry collision coverage in Las Vegas, Nevada. However, if you lease or finance your vehicle, your lender or the dealership you’re leasing from may require that you carry collision coverage to protect their interests. If they are lending you money, they want to ensure if that if your vehicle is totaled, they have a way to collect their money via your insurance policy.
What Does Collision Coverage Cover?
Whether your vehicle hits a deer, or a deer hits your vehicle may seem like an insignificant distinction, but to your auto insurance agent, it determines whether your claim will be filed under your collision or comprehensive coverage. Collision insurance covers car crashes and other accidents in which your vehicle hits another vehicle, a stationary object, or an animal.
How Automobile Collision Coverage Benefits You
While adding collision coverage to your policy will increase your monthly premium, it can potentially save you hundreds or even thousands of dollars if you are in a collision. If you have any value whatsoever in a vehicle, or if your vehicle is worth something above what your deductible is for collision, you should carry collision coverage on your policy.
♦ Collision Coverage Pays Out If You Are Responsible for a Collision
If you are the at-fault driver in a collision, your auto insurance company will cover your repair costs to restore your vehicle to pre-accident condition, minus your deductible. If the cost of repair is greater than the value of your vehicle, then they will pay you its market value at the time of the accident, minus your deductible.
♦ Collision Coverage Pays Out If You Are Not Responsible for a Collision
Sometimes, filing with your own auto insurance company (as opposed to making a claim on the other driver’s auto insurance) is the quickest and easiest way to get your vehicle repaired. Even if you’re not at fault for the accident, you can file with your insurer, pay your deductible, and get your vehicle repaired promptly. If it is determined that the other driver was indeed at fault, your insurer will work on your behalf to get reimbursed for the repairs, including your deductible. So, if the accident is not your fault, it’s best to file a claim with the at fault drivers’ insurance company.
Is Collision Coverage Right for You? Ask Nevada Insurance Enrollment!
There are several factors that come into play when determining whether you should carry collision coverage. Our licensed auto insurance agents can help you evaluate your own unique set of risks and build a policy that meets your needs.
Read More: Auto Insurance in Las Vegas, Nevada
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DISCLAIMER: It is important to note that the information contained herein is made general for the purpose of explanation. You should consult your policy for exclusions or other language that may alter your policy.