#United States #Nevada #Mercury Insurance #Umbrella Policy #Nevada Insurance

Rising Bodily Injury Claims in Nevada

In recent years, Nevada has seen a significant increase in bodily injury claims, raising concerns for residents about their financial health. According to Mercury Insurance, factors such as multi-vehicle accidents, dog bites, and accidents involving delivery personnel on private properties have all contributed to this trend. Notably, liability payouts have surged by 35% since the COVID-19 pandemic commenced, pushing individuals' financial stability into precarious territory.

To address this alarming trend, Mercury Insurance has launched a new personal umbrella insurance policy tailored specifically for Nevadans. This additional coverage is designed to provide extra protection against high-cost liability claims that exceed typical policy limits. Starting at just over $1 a day, this umbrella policy can be a wise investment, especially for those holding significant personal wealth. Its importance is underscored by experts, including Forbes Magazine, which highlights the benefits of umbrella insurance for those needing liability coverage beyond their standard auto and home policies.

The new offerings are part of Mercury Insurance's broader strategy, marking the eighth state to roll out this enhanced product after similar launches in California, Texas, Oklahoma, Illinois, Arizona, Georgia, and Florida. The company's Vice President and Chief Sales Officer, Nick Colby, emphasized the growing need for Nevadans to protect themselves from potential out-of-pocket expenses arising from unforeseen accidents.

Colby cited a cautionary story of a policyholder whose failure to update his coverage limits after achieving greater personal wealth led to dire consequences. This individual, who had remained insured with the same limits since his college days, suffered significant financial setbacks after a serious accident involving a moped. His original auto policy limit of $25,000 proved inadequate, and he faced years of salary deductions to settle the resulting lawsuits.

Key Features of the New Umbrella Insurance Policy

The revamped umbrella insurance product from Mercury offers several key features aimed at making it a highly attractive option for many residents:

1. Multi-policy Discounts: Policyholders can access substantial savings by bundling their auto, homeowners, and umbrella insurance policies under Mercury.
2. Accident-Free Discount: A 5% discount applies to drivers who maintain a clean record with no accidents or claims for the past three years.
3. Increased Liability Coverage: Customers have the flexibility to elevate their liability coverage from $1 million to $2 million based on their specific needs, allowing more scope for protection.

Colby describes Mercury's umbrella policy as the "Goldilocks" of insurance coverage, striking a balance that fits the needs of customers seeking security against unforeseen legal liabilities and expenses. This offers peace of mind that can be invaluable in today’s unpredictable world.

About Mercury Insurance

Founded in 1962, Mercury Insurance has built a reputation as a multi-line insurance carrier offering various personal and commercial insurance products. Currently operating in numerous states, including Arizona, California, and New Jersey, Mercury strives to deliver competitive rates combined with excellent customer service. Their well-established presence and commitment to their clients have earned them commendations, including recognition as a top auto insurance provider by both Forbes and Insure.com.

The new umbrella policy from Mercury Insurance not only aims to protect Nevadans from mounting financial strains due to rising bodily injury claims but also reaffirms the company's commitment to enhancing customer safety and satisfaction. To learn more about the new umbrella coverage and its benefits, residents can visit Mercury Insurance's official website.