Texas Auto Insurance Increasing In 2011
According to the article “New Year Brings New Insurance Requirements for Texas Drivers” by Spencer Lubitz on KRISTV.com, car insurance quotes are increasing in 2011 in the state of Texas. Bodily injury and property damage limits are increasing minimum requirements according to Michael Morgan, an agent with State Farm Auto Insurance.
Under Texas’s current minimum liability limits each policy must cover at least $25,000 worth of damages for each individual injured in an accident, $50,000 for everyone hurt in the accident, and $25,000 for property damage for each accident. After January 1st, 2011, each policy will need to cover $30,000, $60,000 and $25,000 respectively. The change will only affect policies which currently carry the minimum requirement. This equates to approximately 50% of Texas drivers.
It’s hard to say exactly how much policyholders will have to pay extra, but any increase in cost is not welcome. Factors will include car type, age of the driver, and the individual’s driving record. Although increases aren’t expected to be drastic, insurers recognize in these times every dollar counts with customers and they will be doing their best to ensure competitive prices remain for policyholders.
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