AUTO LIABILITY COVERAGE
In Texas auto insurance is required by law to protect you and other drivers on the road. Do you understand the limits on your auto policy? It’s important to understand your policy, and whether you are capable of financially covering an accident beyond its limits. Most people on the road only carry 30/60/25, but the average cost of a broken leg is $75,000. What does that mean for you and your family?
WHAT ARE CAR INSURANCE LIMITS?
Most Texans carry 30/60/25 limits of liability on their insurance policies. Paine Insurance Group agents know that minimum coverage isn’t best for your family. If you are carrying the minimum, then you are personally responsible for financial obligations beyond your policy limits.
Let’s take a look at liability limitations.
The first number is the maximum amount your car insurance policy will pay per person for injuries to others. The second number is the maximum medical expenses your auto liability insurance will pay per accident. The third number is the maximum your auto coverage will pay for property damage to another person’s vehicle or property.
WHAT IF YOU CAUSE AN ACCIDENT?
Let’s imagine you’re on your way home from work and a deer runs out on Sam Rayburn Tollway. You’re driving 80mph, swerve to dodge the deer and hit a minivan with a mom and three kids. You vehicle spins off the side of the road and collides with a parked truck. A picture of a tragic accident in the least, but what are the dollar signs associated?
The mom has well over $100,000 in medical costs and each child has $45,000. Your insurance covers $30,000 per person up to $60,000 per accident with $25,000 maximum in property damage. Unless you are a millionaire, you’re likely not going to have the funds to cover the damages in excess of your policy limits.
YOUR PERSONAL LIABILITY
Medical expenses for the mom and kids has left you with a $175,000 bill. Property damage for the minivan and truck has left you with a $90,000 bill. Medical expenses and property damages aren’t the only bills to worry about. Emotional distress therapy, loss of wages from inability to work, and legal fees should be the icing on your cake. Well that escalated quickly!
The accident has left you personally responsible for $265,000, not including the lawsuits and therapy. Do you have that kind of money in your bank account? The courts won’t care what you have now, because they will garnish your wages and put liens on your personal property. Sounds like a fun life.
Paying a little more per month for higher auto coverage can save you heartache later on. We also offer personal liability umbrella policies for peace of mind when the unexpected happens.
ASK YOUR AGENT ABOUT THESE COVERAGES
Comprehensive auto policies cover all perils except collision. Hail damage, vandalism, and theft are a few examples of what a comprehensive policy will cover.
Collision coverage is for property damage caused by accidents whether you are at fault or not. The collision can be with anything from a vehicle, mailbox, wall, or curb.
BODILY INJURY LIABILITY
Bodily injury liability covers medical payments up to your limits for physical damage to another person during an accident you caused.
PROPERTY DAMAGE LIABILITY
Property damage liability covers property damage, up to your policy limit, of the other vehicles damaged by an accident you cause.
Uninsured motorist protects you when someone without insurance causes an accident. Uninsured motorist also protects you when the person at fault’s policy limits aren’t high enough to cover the damage they have caused.
PERSONAL INJURY PROTECTION
Personal injury protection is additional amount of medical payments coverage for you or anyone in your vehicle. Personal injury protection also covers loss of compensation when you are unable to work due to the accident.
ROADSIDE ASSISTANCE, TOWING & LABOR
We’ll get you picked up when you’re stranded, and your vehicle will be towed to the body shop of your choice.
Rental reimbursement covers the wheels you need, while your vehicle is being repaired due to the loss of an accident.
GLASS DEDUCTIBLE BUYBACK
Glass reduction buyback reduces your deductible for glass claims to $100, instead of paying your comprehensive deductible.
You don’t have to purchasing a new home, refinancing, or buying a new car to get an insurance quote.
Questions? Call us now for inquiries: 972-387-9217
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