🚛 🚨 SB180: Legislation Causing Inflation Alert! Higher truck insurance means pricier goods—Nevada wallets take the hit.
Dear Committee Members,
We are writing in opposition to Senate Bill 180 which raises the minimum insurance for "intrastate- only freight" (Pg. 2 Line 33) haulers from the federal minimum requirement of $750,000 to $1.5 million.
Who does this impact?
Every fully regulated carrier authorized to transport freight and regulated by the Nevada Transportation Authority, as well as every other common and contract motor carrier and private carrier authorized to transport "intrastate-only freight" in vehicles that are 26,000 lbs or more Gross Vehicle Weight.
A literal interpretation of “intrastate-only freight” (not defined in NRS) makes its impacts broad and extremely onerous to comply with. A generous interpretation would infer that this requirement only applies to Nevada's over 3,600 intrastate carriers. These Nevada-based businesses impacted include:
- Household goods movers;
- Tow operators; and
- Trucking companies serving:
- Construction;
- Agriculture;
- Garbage; and
- Food & beverages.
Our Concerns with this Bill:
- We’re not in favor of arbitrary increases. If the data shows that they should go up, then that’s one thing. But it’s another thing if the plaintiff’s bar wants to make sure everybody’s pockets are bigger when they want to bring a claim. That’s certainly what drives a lot of the discussion around this issue.
- This legislation will not improve safety. Interstate carriers, not covered by this legislation are involved in 70% of all commercial motor vehicles crashes in Nevada based on data from the last 3 years.
- Small carriers will struggle financially with doubled insurance costs, leading to potential business exits.
- Insurance companies might leave the market, as seen in California and Florida due to high-risk events.
- The FMCSA found no justification for an increase in 2022 due to lack of comprehensive data.
- Higher premiums are expected, with examples from New Jersey showing an annual cost increase of $20,000 to $40,000+.
In conclusion, this legislation would harm small and family-owned businesses in Nevada, potentially forcing many out of the industry due to the high cost of compliance. In addition, this legislation would in turn increase prices on the 95.3% of all manufactured goods that the trucking industry touches in Nevada, hitting the pocketbooks of all Nevadans.
Last Action
(Pursuant to Joint Standing Rule No. 14.3.3, no further action allowed.)
Assembly • May 17, 2025Latest Version
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