If it has been a while since you reviewed the quality of your Katy car insurance, it is time to look things over again. Over time, laws regarding auto insurance change. Available coverage options do too. What worked for you a while ago may be insufficient now. Before visiting a Katy auto insurance provider, do a little research yourself. Familiarize yourself with the terms of your existing policy, and brush up on minimum auto insurance coverage requirements in the state of Texas. Without doing this from time to time, you could inadvertently run afoul of the law, or you could end up having to pay for an accident out of your own pocket.
Texas Auto Insurance Requirements
The first step in reviewing your current Katy car insurance situation is figuring out the absolute minimum requirements concerning auto insurance coverage in the state of Texas. While your current insurance carrier should stay on top of new requirements and adjust your policy accordingly, it is not unheard of for things to slip through the cracks. In other words, do not solely rely on your insurance company to keep you legal behind the wheel. Do your own research to ensure you are not putting yourself in legal jeopardy.
Currently, all drivers in the state of Texas must be able to pay for injuries and/or damages that occur due to car accidents that are deemed to be their fault. The vast majority of people in the state fulfill this requirement with liability car insurance. If you are going to go this route, please be aware that your liability coverage must meet the following minimum requirements:
- A total of $30,000 per injured person.
- A total of $60,000 per accident.
- A total of $25,000 for property damage.
Please note that these are merely the minimums that are required by law in the state of Texas. Most people opt for higher coverage limits in order to protect themselves more adequately.
Stay Safe with More Extensive Auto Insurance
Liability coverage keeps you legal while behind the wheel, but it does not do a whole lot to properly protect your financial interests. Ideally, you should also obtain the following types of coverage as well. Without doing so, another party could sue you in the event of an accident. Your personal assets could be on the line, so it is well worth it to buy more extensive coverage.
Collision Coverage – This feature covers the cost of damages to your vehicle due to accidents with other vehicles. A deductible of $500 to $1,000 is typically involved, which is the amount you must pay out of pocket before the insurance company covers the rest.
Comprehensive Coverage – This feature covers the cost of damages to your vehicle if it is damaged from something other than an accident. For instance, if a tree branch falls on your car, you will be glad you have comprehensive coverage. As with collision coverage, a deductible is involved.
Medical Expenses – This feature covers medical expenses incurred by you and your passengers in the event of an accident.
Under-Insured or Uninsured Driver Coverage – Around 20 percent of Texas drivers do not have car insurance. This feature protects you in the event that you are involved in an accident with this type of driver.
Although the preceding coverage types are not required by law in Texas, you may be required to maintain collision and comprehensive coverage if you are leasing or financing your vehicle. Lenders do this to protect themselves, since your car acts as collateral for your loan.
While it may cost more to buy extra coverage, it is well worth it in the long run. Check and see about discounts you may be eligible for, including multi-line discounts. If you currently have Kate home owners insurance, for instance, the same company may give you a discount for obtaining car insurance from them as well.
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