Has Nevada Department Of Motor Vehicles (D.M.V.) advised that you need a SR-22 insurance filing to reinstate your license? But what if you don’t own a car? A Nevada Non Owner SR-22 Insurance policy may be what you need. Find important information on how these policies work and who should or should not purchase them.
Is Nevada Non Owner SR-22 Insurance The Right Choice For Me?
The answer is that depends on your vehicle situation. If you have a private passenger vehicle in your name the answer would be no. The reason is you will sign insuring documents that state you understand there is no coverage when driving vehicles you own. Not only does it exclude coverage on your vehicle but on a spouses vehicle as well. The policy can also exclude coverage from any vehicle that is registered at the same physical address as you. The Nevada Non Owner SR-22 Policy cover’s you when driving other peoples vehicles not residing with you. The coverage is secondary over the vehicle you borrow. Which means the borrowed cars insurance would pay first and if exhausted then the Non Owner Policy will pay second.
What If I Obtain A Vehicle?
If you purchase a vehicle you must endorse to a Owner Operator policy which will cover you and all other listed drivers on the vehicle. Failing to endorse the policy will result in no coverage while driving a car that is owned. If the insuring company you have only does Non Owner Insurance then you will need to purchase a new policy. Expect premiums to increase when you make this change as the risk has increased for the insurance company.
What Is A SR-22 Filing?
The SR-22 filing or SR-22 certificate is an extra form that an insurance company provides to Nevada D.M.V on your behalf. It obligates the insurance company to notify the Nevada D.M.V. when the policy starts and when it cancels or lapses. When Nevada D.M.V. receives a SR-22 on a policy that has started they will offer license reinstatement if all other requirements and fines have been met. If Nevada D.M.V. receives a notice that a policy has cancelled or lapsed they will re-suspended if the SR-22 requirement is still needed. You can contact the Nevada D.M.V. here to find more information on your license status.
How Much Coverage Is Needed?
You must purchase at least the Nevada State minimum liability limits which are:
- $25,000 per person for bodily injury liability
- $50,000 per accident for bodily injury liability
- $20,000 per accident for property damage liability
These are the state minimum liability limits and you can purchase more insurance for a few more dollars per month.
What Is the Cost Of Nevada Non Owner SR-22 Insurance?
There is no set price for these policies as each risk is rated individually on the drivers age, driving record and address. The good news is that price of a Non Owner Policy is 50% cheaper of what a Owner Operator policy would sell for.
Where Can I Find Nevada Non Owner SR-22 Insurance?
There are many options when shopping for SR-22 insurance on the internet. Beware of lead generation companies posing as insurance agencies or insurance companies as they will sell your information to as many agents or insurance companies as they can. When searching online click on the about us tab on every website and find out who you are dealing with before sharing your personal info. A good option can be getting rate’s through a licensed insurance broker who can check rates through many different carriers.
