You faithfully renew your car insurance every year, but have you thought about the amount of car insurance you need? Is your auto insurance enough to pay for your SUV’s damage when your teenage son drives it through a garage? Will your car insurance cover you sufficiently if you cause bodily injury to a pedestrian?
If you are unsure about how much auto insurance you need, keep reading as All-Tex Insurance of Granbury, TX sheds more light on the amount of car insurance sufficient for you.
Minimum auto insurance required in Texas
Before going far, let’s first explore the basic auto insurance required by Texas. The state-required auto insurance forms the minimum amount of car insurance you should hold at any given time. In Texas, motorists are required to have auto insurance that meets the below requirements:
- Bodily injury liability of a minimum of $30,000 per person and twice the amount for accidents involving many victims
- Property damage liability of $25,000 per accident
- PIP of $2,500 though you can reject in writing
As you can see, the limits for the state-required auto insurance coverage are limited. It’s for this reason we ask our clients to increase limits.
How much liability insurance should I have?
The amount of liability coverage you should have should assume the worst-case scenario: a severe accident. Though liability insurance doesn’t protect your car, it cushions your finances. We usually advise clients to have a combined bodily injury and property damage liability of at least $500,000. However, should you require additional coverage, we recommend you invest in umbrella insurance.
How much collision or comprehensive coverage should you have?
How many repairs can you handle without insurance in case of an accident or a peril like a hailstorm? But what about a total loss? Can you handle the replacement of your car out-of-pocket? When deciding how much collision and comprehensive coverage you need, think about the work case scenario: a total loss. Then, get coverage that covers you beyond what you can handle from the pocket.
Are you ready for car insurance in Granbury, TX? Don’t hesitate to contact All-Tex Insurance for an affordable quote.