Shielding you from life's little upsets

What are the benefits of getting more than the minimum insurance coverage?

There are plenty. If a consumer does not carry the proper coverage, they open themselves up to lawsuits including wage garnishments. If you have assets of any kind (a house, savings, income, investments, etc.) you will probably have to forfeit some of your personal assets to fairly compensate the people you injured.

Texas law requires people who drive in Texas to pay for the accidents they cause. Most drivers do this by buying auto liability insurance. Liability insurance pays to repair or replace the other driver’s car and pays other people’s medical expenses when you’re at fault in an accident.

If you buy insurance to meet the state’s financial responsibility law, you must buy at least the minimum amount. The current minimum liability limits are $30,000 for each injured person, up to a total of $60,000 per accident, and $25,000 for property damage per accident. This basic coverage is called 30/60/25 coverage. Liability limits also increase to 50/100/50, 100/300/100 and 250/500/250. The more coverage you carry, the better protection you will have against lawsuits etc.

Because of car prices and the high cost of medical care, the minimum amounts might not be enough to pay all the other driver’s costs if you’re at fault in an accident. Other drivers could sue you to collect the difference. Consider buying more than the minimum limits to protect yourself financially.

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