In the Lone Star State, auto liability insurance is the minimum indemnity that a driver can carry on a vehicle. Texas State Department of Motor Vehicles (DMV) requires that all insurance companies and their customers register their agreements with the department. Auto insurance registration with the DMV evidence “financial responsibility”, or the duty of a driver to compensatory damages in the case of an ‘at-fault’ accident.
Auto Insurance in Texas
Texas is a ‘fault’ state where auto accident insurance agreements are concerned. When involved in an auto accident, the responsible party in the collision must pay for injury to another person or property damage should it occur. Liability insurance provides minimum compensation on medical and hospital bills, as well as lost wages and ongoing costs associated with injury rehabilitation to a victim. Texas law provides that auto liability insurance policies meet the minimum mandated coverage amounts of $30,000 for injuries to a single person, $60,000 for injuries to multiple injury parties, and $25,000 for vehicle or property damage.
Comprehensive Collision Coverage
Vehicle owners were owing installment agreement payments on an auto loan are required to back those contracts with comprehensive collision auto insurance coverage. Damages caused by auto accident, or resulting from natural disasters or theft and vandalism, are covered in a collision insurance policy. Comprehensive insurance covers the full value of a vehicle so that a car can be repaired or replaced.
Supplemental Insurance Agreements
Texas drivers also have supplemental coverage products available to them. Personal injury car insurance protection (PIP) plans offer cover the full cost of a driver and passenger expenses in the event of an accident. Uninsured or underinsured motorist supplements protect an insured victim in a hit-and-run accident.
For auto insurance coverage in Texas, contact a licensed insurance broker with Paragon Independent Insurance Agency in Plano, TX.
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