What Type of Insurance Coverage Should I Have on My Vehicle?

Last updated on: August 12, 2013

What Type of Insurance Coverage Should I Have on My Vehicle?

Car insurance companies spend millions of dollars every year advertising on television, billboards, and websites. Most often, their selling point is low rates or inexpensive ways to keep your car insured. What type of insurance coverage you should purchase for your vehicle depends on several factors: income, whether or not your vehicle is paid off, how old the vehicle is, familial status, age, and several other considerations. However, oftentimes people don’t understand what they’re potentially giving up should you choose the cheapest car insurance policy allowed under Texas law.

The least expensive insurance on your vehicle is ‘liability only’ insurance. This covers damage only in the event that you are at fault. The idea behind this insurance is that it’s inexpensive, and this often leads people to believe that if they’re not at fault for a wreck they can just go through the opposing party’s insurance company for any property damage or bodily injury claim.

However, despite the fact that Texas requires all drivers to be insured, only 75%-80% actually have valid coverage. If one of those 20%-25% is responsible for a wreck, and you have ‘liability only’ insurance, you may be out of luck having any insurance company pay for your car or medical bills.

By purchasing full coverage through your car insurance carrier, you can be protected in a situation like the one described above. Additionally, by increasing the coverage amount on your car insurance policy, you protect yourself from a situation in which you may have extremely high medical bills or significant injuries.

If you have a question about insurance coverage that exists on your vehicle or on the party responsible for a car accident, please give the experienced attorneys at Zinda Law Group a call for a free consultation.