What are “policy limits?”
Policy limits refer to the limits determined by your insurance coverage. At a bare minimum, you are required by the state of Nevada to carry liability insurance with policy limits of at least 15,000 to 30,000 dollars. This means that the maximum amount that a single person can receive from this policy for their injuries in 15,000 dollars and the maximum that all parties in the vehicle can receive is 30,000 dollars. For example, if there’re five people in a car, all with relatively equal injuries, each person would receive a maximum of 6,000 dollars.
