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New DriveCheck assessment from NAIC helps Nevada’s consumers determine if usage-based auto insurance is a fit

Contact: Yeraldin Deavila, Public Information Officer
Phone: (775) 687-0772
E-mail: ydeavila@doi.nv.gov

FOR IMMEDIATE RELEASE– July 28, 2017

 New DriveCheck assessment from NAIC helps Nevada’s consumers determine if usage-based auto insurance is a fit

 CARSON CITY, NV – The National Association of Insurance Commissioners (NAIC) launched a new tool called DriveCheck to help consumers determine if usage-based insurance (UBI) may fit their driving habits.

 “Driving habits are changing as more people use ridesharing and public transportation — and we believe we will see increased charges with the introduction of self-driving vehicles,” said Insurance Commissioner Barbara Richardson. “As revolutions in mobility continue to evolve, new insurance products may be an option for Nevada’s residents whose driving habits have shifted. As a result, NAIC created DriveCheck to help consumers understand how UBI works and determine if it’s a good fit for their driving behavior.”

Insure U’s new DriveCheck tool takes you through a few quick questions about driving habits while providing more information about how UBI works. At the end, you will receive an assessment of the likelihood that you will benefit from UBI.

Depending on your assessment, you can then discuss usage-based insurance with your insurance agent. If your insurance company currently does not offer UBI, chances are they will in the future. If you are interested in UBI, you can shop around to find an insurance company who offers UBI and can answer questions and provide a quote.

Usage-based insurance isn’t for everyone. However, all Nevada drivers should review their auto insurance policies from time to time. This is an opportune time given the passage of SB 308 which was signed into law. This new law increases the statutorily mandated minimum motor vehicle liability insurance coverage in Nevada from 15/30/10 to 25/50/20. This new law goes into effect July 1, 2018.

Check out these tips when re-evaluating insurance needs:

 

•           If UBI isn’t for you, talk to your insurer to determine if there are other cost-saving opportunities. Discounts may be available in Nevada for multiple vehicles, driver education courses, good student, safety devices, anti-theft devices, low mileage, good driver/renewal, auto/home package and dividends.  

•           If a friend or roommate borrows your car from time to time, talk to your agent to see if you are covered in case the borrower gets in an accident. Likely, your friend’s own car insurance may provide limited or no coverages for any damages to your car or injuries to others.

•           If you’ve given up driving altogether, there are still risks to consider. Before accepting a shared ride from a company like Uber or Lyft, know the extent to which you are protected in the event of an accident.

•           Most ridesharing companies have liability policies to cover any passenger injuries. If you are injured while riding, report a claim with the driver’s insurer and the ridesharing company’s insurer.

•           If you are considering contracting as an Uber or Lyft driver, make sure you understand the insurance implications. Review tips from Insure U before you get behind the wheel.

 

For unbiased information and resources to help you rethink insurance, visit insureuonline.org.  For insurance information specific to where you live, contact the Nevada Division of Insurance by visiting www.doi.nv.gov.

 

About the Nevada Division of Insurance The State of Nevada Division of Insurance, a Division of the Nevada Department of Business and Industry, protects the rights of Nevada consumers and regulates Nevada’s $14 billion insurance industry. The Division of Insurance has offices in Carson City and Las Vegas. In 2016, the Division investigated more than 3,200 consumer complaints and recovered nearly $5 million on behalf of consumers. For more information about the Division of Insurance, visit DOI.NV.GOV or download the Division’s smartphone app NDOI Connect today in the Apple App Store and Google Play.

 

 

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