The Nevada Division of Insurance has created a series of consumer guides to help make choosing homeowners, flood, earthquake and auto insurance easier. The DOI also has published a “Frequently Asked Questions” list on the use of credit information in insurance premium determination.
Commissioner of Insurance Brett J. Barratt said it’s important for Nevadans to maintain an adequate amount of insurance coverage to protect their most valuable assets, but acknowledged that Nevadans might be facing difficult choices due to economic conditions. “I hope these informative guides assist Nevadans in meeting their insurance needs at an affordable price during the current difficult economic times,” he said.
The Auto Insurance Guide describes common automobile insurance coverages and includes a multitude of hypothetical rating examples for price comparison. Comparison quotes are provided from as many as 30 Nevada-licensed private passenger automobile insurers for each hypothetical example. Consumers may be able to save hundreds of dollars in auto insurance premiums by choosing an insurer with a rating structure that treats their specific characteristics favorably, the DOI said.
The Auto Guide also includes information about a cutting-edge technology approved for use in Nevada for Western United/AAA and Progressive insurance companies. The “usage-based insurance”, also known as “pay as you drive”, programs may help consumers who drive fewer miles and participate in safe driving behaviors lower their auto insurance premiums.
The Homeowners’ Insurance Guide describes the differences between the real-estate value of a property and the replacement cost of rebuilding a home.
“The general aim of these notices is to foster consumer education and to ensure that consumers have the knowledge to take charge of their finances through their decision-making,” Barratt said.
Agents can direct customers to download the guides from the Division’s Web site at http://doi.nv.gov/consumer.aspx.
Topics Auto
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