Financial Responsibility with Online Vehicle Insurance
Motorists in the Lone Star State are required by law to retain financial responsibility when operating a motor vehicle. This means that in the event of an accident, the motorist that is at-fault is responsible for damages done to the other individual’s vehicle or possible medical expenses. In order to meet these requirements, the majority of vehicle owners choose to purchase vehicle insurance. The amount of liability that a resident needs, however, also has a set limit that must be reached. Protection plans must feature minimum liability limits of $30,000 for possible injuries or death to a single person with a total of $60,000 per accident, and $25,000 for property damage liability per accident.
If a motorist is unable to meet the necessary limits required by the state’s financial responsibility laws, then there is a possibility of receiving a fine that can be between $175 and $350 for first time offenders, with multiple violations amounting to higher fines or the chance that a motorist will have their driver’s license suspended or vehicle impounded. In order to remain adequately protected many vehicle owners choose to go beyond the required amount of Texas vehicle insurance for multiple reasons. In the event that one’s liability insurance is not high enough to cover all of the damages in an accident that are caused by the policyholder, then the other driver could potentially sue for any remaining costs. Additionally, the amount of coverage required by the state does not include damages to the insured’s own vehicle.
Additional Texas car insurance Coverage
Raising the limits of a policy is an excellent way of remaining financially responsible by being prepared for a number of accident related expenses. In order to assist motorists in finding the right amount of coverage many insurers offer policies based off of the Texas Personal vehicle Policy, which is a standard type of policy which offers a fairly extensive amount of protection in the form of eight different types of coverage. Within this policy, motorists may choose to include collision, comprehensive, uninsured/underinsured motorist, rental reimbursement, and towing and labor coverage, as well as medical payment and personal injury protection in addition to the state required liability insurance.
The standard types of coverage that are typically available can offer a wide range of protection that goes well beyond the state requirements. Purchasing medical payment coverage, for example, would cover a number of medical expenses or funeral bills as the result of an accident up to the limits of the policy. This added protection encapsulates the policyholder, their family members, as well as passengers within the policyholder’s vehicle regardless of who is at fault. The Texas Department of Insurance recommends examining all available vehicle insurance Coverages closely to determine the extent of the coverage that is being offered and consider what needs to be purchased in order to maintain an adequate amount of protection.