THE NATHAN TAYLOR AGENCY
Car
Insurance in Texas
Personal coverage tailored to you and your needs.
PERSONAL INSURANCE
Car Insurance in Texas
What is car insurance?
Everyone who owns and/or operates a motor vehicle is exposed to certain risks, as almost all drivers will be in an accident one day. Insurance is no substitute for safe driving practices. When accidents happen, however, having car insurance can shield Texas drivers from a host of financial woes.
Car insurance policies can protect drivers, passengers and vehicles. Vehicle owners can usually customize a policy’s coverages for their particular needs.
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What Texas residents need auto insurance policies?
Texas residents who own vehicles are generally required by state law to maintain minimum auto insurance coverages. Many drivers choose to protect themselves with more coverages than what’s mandated.
The state’s minimum coverage requirements apply to both injury liability and property damage liability coverages. Drivers normally must have injury liability coverage that’s at least 30,000 per person, and at least $60,000 per accident. Property damage liability has to be at least $25,000 per accident. Insurance agents sometimes refer to policies that meet only these minimum requirements as 30/60/25 coverage.
A single incident can easily exceed these minimum requirements, which is why many residents choose higher limits than is required. An insurance agent who specializes in auto policies can help drivers determine what coverages, deductibles and limits make sense for them.
What coverages do auto insurance policies come with?
Auto insurance policies generally provide the required coverages and many other optional coverages. Some example coverages are:
- Comprehensive Coverage: Usually covers incidents involving no other moving vehicles
- Collision Coverage: Usually covers incidents involving multiple moving vehicles
- Property Damage Liability Coverage: Usually covers damage to others’ vehicles and property
- Personal Injury Coverage: Usually covers injuries to the insured vehicle’s driver and passengers
- Medical Payments Coverage: Usually covers medical costs for certain injuries
- Bodily Injury Coverage: Usually covers injuries to others who arne’t in the insured vehicle
- Uninsured/Underinsured Motorist Coverage: Usually covers accidents with improperly insured drivers
Comprehensive coverage might extend to incidents such as animal strikes, theft, vandalism, hail, falling trees, and other instances where no other moving vehicle is involved. The insured vehicle may be moving or parked in these situations. Collision coverage often only applies to accidents where the insured vehicle and at least one other vehicle are in motion.
Are drivers required to purchase gap coverage for their vehicles?
Gap coverage isn’t required by state law, but most lenders require it when underwriting auto loans and leases. The purpose of gap coverage is normally to insure the difference between a vehicle’s depreciated value and the remaining amount due.
For example, assume a vehicle was finance for $20,000 but is now only worth $15,000. Standard collision coverage would likely only pay $15,000 (less any deductible) if the vehicle was totaled in an accident, thus leaving the driver with a $5,000 expense and the lender with a $5,000 unsecured loan. Gap coverage would usually cover the additional $5,000.
Most drivers who have an outstanding loan or lease against their vehicle do need to purchase gap coverage.
Is Texas an at-fault or no-fault state?
Texas is considered an at-fault state. This generally means drivers who are responsible for accidents can be held financially liable for the injuries and damage caused. In most cases, injured parties can sue responsible drivers if necessary.
How can drivers get quotes for car insurance?
For help finding a car insurance policy in Texas, contact the independent insurance agents at Nathan Taylor Agency. Our agents will work closely with you to assess coverage needs, and then we can show you several quotes from different insurers that meet those needs. We’ll help you find the best policy for your vehicle.