Auto insurance is required in the state of Texas. While many Texas drivers have insurance, they do not have a full understanding of what their policy entails. Most people throw around the words “full coverage,” but not everyone has an understanding of what full coverage really is.
Understanding Your Coverage.
For the sake of understanding, we are going to explain what full coverage typically means depending on who you are talking with.
When the bank you finance your auto loan with insists that you get full coverage, they want to know that you have insurance to cover any damage to your car. In the event of an act of God or car accident, they want to know that their investment is protected. In this case, you may fully satisfy your auto loan holder agreement by having the minimum liability and property damage coverage on your vehicle.
Certain smaller San Antonio insurance agencies advertise full coverage for a low price. These are often bait and switch policies that only meet the legal requirements in Texas.
The legal requirements for car insurance in Texas is $30,000 for each injured person, $60,000 for injuries per incident and $25,000 for property damage. This is only liability insurance. Meaning it only covers the cost of the damage you do to someone else’s body or vehicle. This liability insurance is typically listed as 30/60/25 and does not carry coverage for your vehicle or passengers.
Unfortunately, many drivers in San Antonio don’t even carry the minimum requirement for insurance, and that is why it’s important to protect yourself by knowing your legal rights and coverage options. This is where coverages – such as personal injury protection, uninsured or underinsured motorist, medical payments, collision, and comprehensive come into the picture. These coverages help protect your vehicle and its passengers.
What is Personal Injury Protection and do I really need it?
Personal Injury Protection (PIP) insurance is a type of insurance that covers the cost of medical expenses in case of an accident eliminating the need to file a third-party claim. PIP is not required in Texas, however, insurance companies are required to offer it as an option to all drivers.
What are the benefits of Personal Injury Protection?
PIP can be added to your existing insurance plan and covers injuries you sustain while driving or riding in your vehicle, as well as the injuries of your passengers. In addition to paying for medical bills, PIP can cover lost wages or household labor expenses depending on your situation.
Do I need an attorney to file a personal injury protection insurance claim?
Depending on your insurance company and the details of your accident, your claim may be very simple or very complex. An experienced personal injury lawyer can help you help you correctly file and get back to your life after an accident. At Maloney Law Group, we have assisted countless personal injury victims in getting the justice they deserve after an auto accident. Call to schedule your free consultation with a Maloney lawyer today.