Yes, it is true that every state in America has different laws regarding auto insurance. On the same note, every driver also has different needs. However, the purpose of auto insurance remains the same, which is to prevent financial disaster.
It is also true that no car insurance policy will either cover everything or make the driver financially whole in every case. But any Texas auto insurance policy that you buy from texasinsurancequotes.net should at least shield you from the large medical bills especially if you lack health insurance, and it should protect the assets you own. Again, the policy you buy should pay for any damages you do to other people.
- Gap insurance
In the event that your car is totaled and you are owing more than it is worth then gap insurance will pay off your loan. Texas auto insurance law allows you to buy purchase gap insurance through your lender. Furthermore, the same is also available not only through auto insurance companies, but also through stand-alone gap providers.
Typically, the gap insurance is cheapest through your Texas auto insurance company, but some few companies do not offer it. For you to but gap insurance, you must actually purchase collision and comprehensive coverage. It is worth noting that before your gap insurance pays the difference on the loan, your vehicle must be a total loss, and you must also pay your deductibles first.
- Personal injury protection and medical payments
When you are at fault, the personal injury protection and medical payments will pay for the costs of treating injuries that your passengers, authorized drivers, or you suffer in the event of a car accident.
The law of the state of Texas requires you to buy personal protection so that the insurance coverage for each driver pays for his or her own injuries irrespective of who is at fault. However, medical payments coverage is optional in Texas, but is compulsory in many states where insurance coverage is not mandatory.
If you live in Texas, and you already have health insurance, it’s always advisable that you buy enough personal injury protections and medical payments to simply cover your deductibles. However, it is strongly recommended that you buy at least $10,000 in personal injury protection or at least $5,000 in medical payments coverage if you do not have health insurance.
- Uninsured motorist
Usually known as uninsured motorist bodily injury, an uninsured motorist will pay your medical bills in the event that you are injured by an uninsured driver. Uninsured motorist bodily injury pays the medical expenses for your passengers who do not have health insurance despite the fact that you are covered by health insurance and your hospital bills can be settled easily. Furthermore, it also covers lost earnings and the pain and suffering that result from an injury.
- Comprehensive and collision
When you get an accident, and you are at fault, comprehensive and collision will pay for your vehicle’s repair or replacement. Furthermore, comprehensive and collision policies from here will pay for the repair or replace your car after fire, theft, or any other covered peril, but minus your deductibles.
If you want to lease on loan on the vehicle, your lender or leasing company will typically require you to purchase comprehensive and collision. But if you own the vehicle outright, then the decision to buy collision and comprehensive is yours alone because it’s not mandatory according to the insurance law of Texas.
- Liability insurance
When your vehicle is involved in accident an you or the authorized driver is at fault, then the liability insurance will stand between you and a lawsuit.