Creditor-placed insurance defined.
Nev. Rev. Stat. § 691C.090
in effectCreditor-placed insurance means single-interest insurance or dual-interest insurance that is purchased by the creditor, as the named insured, after a credit transaction:
1. According to the terms of the credit agreement as a result of the debtors failing to provide required insurance, the cost for which is charged to the debtor; and
2. For coverage against loss, expense or damage to personal property used as collateral as a result of fire, theft, collision or other risk of loss that would impair the interest of the creditor or adversely affect the value of the collateral.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-691C.htmlFetched: 10/4/2026