Why Liability Car Insurance is what Auto Insurance Companies in Dallas Want
Many auto insurance companies in Dallas are pricing liability car insurance at a lower rate than they have in years. It is very evident that insurance companies in Dallas are wanting to write more liability only policies. Many insurance companies have taken rate decreases in this sector already this year. Liability car insurance is much less of a risk for the insurance companies compared to full coverage insurance. Auto insurance companies who have large amounts of full coverage policies have to pay out a large number of claims when a catastrophe loss occurs. This is when a Hurricane, Tornado, or Hail Storm causes great damage in an area well above the normal cost of paying out claims. If these natural disasters are bad enough, they can cost the insurance companies millions in repairing cars with comprehensive and collision coverages.
The most money an auto insurance company can pay on a liability only auto insurance policy in Dallas is $85,000 because state limits are 30,000/60,000/25,000.
Here is a breakdown of these coverages below:
- The first number of 30,000 stands for the most an insurance company will pay in bodily injury to another party.
- The second number of 60,000 stand for the most an insurance company will pay in bodily injury to the other party for the entire accident.
- The third number represents the maximum amount an insurance company will pay in property damage to the third party vehicle that is damaged.
One thing to acknowledge here is on option 3, if you purchase cheap liability car insurance at minimum limits then if the vehicle you damage is worth more than the $25,000 limit you could be responsible for that. If the person you hit carried Uninsured Motorist Property Damage Coverage then that coverage could kick in and cover the surplus in damages, but if not, they could come back and sue you for that money.
Insurance companies like these liability insurance policies because property damage claims cost them a large amount of money. On liability only policies they do not have to pay for damages done to the vehicle that they are insuring. Here are a few auto insurance companies in Dallas that are pricing themselves to attract more customers who want liability auto insurance:
- Save Money Car Insurance
Cheap liability car insurance is what every consumer wants but it is important to make sure you are covered properly and by a good insurance company. Purchasing cheap insurance that doesn’t pay claims will make your claims experience a nightmare. So, the more research you can do the better when choosing what auto insurance company you are going with for your liability auto insurance.
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If you are in Dallas and are over paying for on liability auto insurance Call us at 214-760-4883 for a free quote or you can get a quote online by clicking here!