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Texas law requires drivers to be financially responsible should they cause an accident and need to pay for damages incurred. Most individuals usually seek out liability insurance to fulfill such requirement. You should know, however, that not all indemnity policies are created equally. It is vital that you know the Texas minimum insurance requirements before obtaining a policy in Houston, TX and other parts of the state.
Texas legislatures have established insurance policy minimums to which drivers should adhere if they want to drive on state roads legally. The essential coverage, often referenced as 30/60/25 coverage, requires drivers to have liability limits of at least $30,000 per injured person and a total of $60,000 worth of protection per accident. Property damage minimums are set at $25,000 per incident.
Some drivers are okay with obtaining the bare minimum amounts of coverage in Houston, TX. The problem with such thinking is inflation. The average sedan sells for about $30,000. While it is true that vehicles depreciate over the years, you may find yourself in a severe bind if you are found at-fault and need to pay for a luxury vehicle. Imagine damaging a new Mercedes-Benz to the extent of the car being at a total loss. The owner of the said vehicle could sue you for an amount of money that your insurance policy does not cover. The last thing that you want is to face a lawsuit after a horrendous car crash. Such is the reason why many drivers obtain insurance that more than covers the tab if a severe accident occurs.
It also a good idea to look into full coverage because of the benefit of uninsured motorist protection. With so many people driving without insurance while lacking the financial means to pay for an at-fault accident, it is vital that you protect yourself from loss if the person who runs into you does not have insurance. The best way to make sure you are covered when considering insurance in Texas is full coverage.
Consider Memorial Insurance Agency when you are searching for auto indemnity coverage in Houston, TX and throughout the state. All of our associates are skilled and ready to help you find the policy that works best for your situation.