Texans are known for thinking big, but it seems like the new generation is making Texas move. All over the state, technology and new industries seem to be accelerating the old Texas lifestyle. For many, living at that pace requires a car – and car insurance. Though it may be a time-consuming task, it is important that you understand what the state requires of you in terms of car insurance.
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Minimum Insurance Requirements in Texas
The minimum liability coverage required by the state is $20,000 in bodily injury for an individual, and $40,000 in bodily injury for the entire accident. You will also need a minimum of $15,000 in property damage coverage. These two components represent coverage for the other driver and the other car in you are at fault in the accident.
Because there is no required insurance coverage for your vehicle should you be at fault, there are options available to protect your car referred to as collision and comprehensive. Collision coverage pays for your repair costs, after a deductible is met. Comprehensive insurance pays for non-accident related damages, such as theft, damage from a storm or fire, or vandalism.
Many people drop collision and comprehensive coverage after the car is five years old or more, because the value of the car does not justify the premiums. The mix of coverage levels, deductibles and premiums are different for everyone, based on each individual’s financial situation.
Another widely used type of insurance coverage is for uninsured or underinsured motorists. This coverage pays for your losses should you be involved with an uninsured or underinsured driver, or engaged in a hit-and-run accident. The state of Texas does not require motorists to purchase this type of coverage, but it is a sensible alternative to trying to personally collect on damages over and above the other party’s coverage.
Other car insurance options include coverage for the cost of towing your vehicle, as well as insurance that pays for the cost of a rental car while your vehicle is in the shop. These are perks that you may or may not wish to pay premiums for. The critical element in assembling your car insurance policy is providing sufficient protection for you and your passengers and enough coverage to get your car back on the road if it is badly damaged.
Car Insurance in Texas Cities
Learn more about car insurance specifically in Austin, Dallas, El Paso, Houston, San Antonio, and Fort Worth.
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* Cars-Insured.net is not a broker, insurance agent, or carrier. The content on the site is for informational purposes only. Products and services described may not be available in all states.
