How Much Does Liability Insurance Cost In Texas?
Driving a car is a huge responsibility. Car accidents cause physical injury and property damage that someone has to pay for. In an effort to protect citizens from financial ruin, states have implemented minimum liability coverage amounts that a driver must have to legally obtain a license and operate a vehicle. If you’re a new driver in Texas, you might be wondering how much liability insurance is going to cost you.
What Is The Minimum Liability Coverage Necessary In Texas?
Texas is an “at fault” state for car accidents, meaning someone is assigned blame in every accident and they will be the party held liable for damages. It is important to note that liability insurance only covers the party you injure and does not cover your personal costs after an accident. The point of minimum liability coverage is simply to protect other people on the road from your actions.
Due to being one of the most populated states in the US, the minimum requirements for liability coverage in Texas run a bit higher than the rest of the country. Texas liability insurance is written as 30/60/25.
$30,000 for bodily injury liability per person injured in an accident you cause
$60,000 for total bodily injury liability when two or more people are injured in an accident you cause, and
$25,000 for property damage per accident you cause.
Where To Get The Best Deal On Liability Insurance In Texas
You can spend anywhere from $500 to well over $1,000 dollars on liability insurance alone, depending on personal factors and consideration. If you are a middle-aged driver in good standing with an average vehicle then you can expect to pay around:
Factors that have the most impact on your liability-only insurance are your age, your driving record, and your credit score. Younger drivers cost considerably more to insure. People with poor credit are also considered risky drivers to insure. If you have speeding tickets, accidents, or DUIs then you might have the most trouble finding an insurance company willing to take you and give you reasonable rates.
Is Liability Insurance Right For You?
Remember, liability insurance only covers the other driver in the event you cause an accident. If your car was purchased with financial help from a bank, they will require that you take out full coverage insurance to protect their investment. Even if it’s not required, having an expensive car or having a lot of personal assets you don’t want to risk losing in a lawsuit should be enough to make you want to take out extra insurance. Liability only would be good for people that own their car and don’t drive a lot. Otherwise, you are putting yourself at risk for huge out-of-pocket costs.
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