Motor Vehicles: Insurance and Financial Responsibility

What this document is

Nevada Revised Statutes Chapter 485 - Motor Vehicles: Insurance and Financial Responsibility is a state statute published by Nevada Legislature (leg.state.nv.us). It is one of the Nevada documents that insurance license exam questions are written from, including nevada property & casualty, nevada personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• NRS § 485.186(2) (Operator’s policy of liability insurance: Use in lieu of owner’s policy of liability insurance; requirements for issuance; required statements; operation of motor vehicle by person other than insured; required and excluded coverages; applicability)

  “An operator’s policy of liability insurance may only be issued to a person if: (a) The number of motor vehicles that the person owns is greater than the number of persons in his or her household who possess a driver’s license; and (b) Each person in his or her household who possesses a driver’s...”

• NRS § 485.185(1) (Insurance for payment of tort liabilities arising from maintenance or use of motor vehicle: Coverage to be obtained from insurance company duly licensed and approved; minimum thresholds of coverage)

  “1. Except as otherwise provided in subsection 2, every owner of a motor vehicle which is registered or required to be registered in this State shall continuously provide, while the motor vehicle is present or registered in this State, insurance provided by an insurance company licensed by the...”

• NRS § 485.3091(5)(a) (Motor vehicle liability policy: Requirements)

  “The liability of the insurance carrier with respect to the insurance required by this chapter becomes absolute whenever injury or damage covered by the policy occurs. The policy may not be cancelled or annulled as to such liability by any agreement between the insurance carrier and the insured...”

• NRS § 485.3075 (Proof required before reinstatement of license or registrations suspended for failure to maintain proof; duration; penalty)

  “A person whose license or registrations are suspended for failure to maintain proof of financial responsibility as required pursuant to this title must provide proof of financial responsibility pursuant to NRS 485.307 before the person’s license or registrations will be reinstated. The person must...”

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