Texas drivers are required to have a minimum of $30,000.00 in automobile liability coverage to compensate someone for their injuries. This is the bare minimum and it only compensates the accident victim, not the insured. If you are injured by an uninsured driver and you only have liability coverage, you will not be compensated for your losses or injuries as a result of the accident. Many Texans drive on our public roads without any insurance and those who have coverage often only have the minimum amount of coverage.
We often counsel clients to purchase uninsured/underinsured coverage (‘UIM”). This coverage protects you or your family when injuries are sustained in a motor vehicle accident and the at fault driver doesn’t have any insurance or enough coverage to compensate you or your family. Purchasing UIM protects you and your family while purchasing liability coverage protects other drivers.
Recently, it has been disclosed that Allstate Insurance Company has seen their numbers of new customers, for their automobile insurance, decline rapidly. Allstate has struggled recently to bring in new clients but it is still the second largest automobile insurer. Progressive Corp. and GEICO have increased the number of new auto insurance policies they underwrite. Some popular auto insurance companies in Texas operate primarily without agents such as AMICA. Sometimes for a few more dollars you can get a substantially better auto insurance policy as compared to the bare bones cheapest product in the market.