As insurance claim attorneys, we get asked a lot of questions about the ins and outs of auto insurance policies and coverages, and we completely understand why. Auto policies can be confusing, and insurance providers can be deliberately vague in order to upsell you a more expensive package or to skirt responsibility after an accident when you need that claim payout. Worst-case-scenario planning is never fun, and we understand why many people take insurance policy offerings at face value or based on random recommendations.
To help, our insurance claim attorneys put together this list of the basics of coverage types and their applications. Coverage names and meanings can vary somewhat between states and between insurance companies, so if you are unclear, ask questions for the answers you need. With any luck, you’ll never need an insurance claim attorney, but when accidents happen, Thompson Law is here for you.
You likely know all the big names in insurance – GEICO, Progressive, Liberty Mutual, State Farm, Farmers, USAA, and Allstate. They spend millions and millions of dollars in advertising with flashy celebrity ads to gain your business. However, there are many more insurance providers than just those mega-corporations. There are pros and cons to purchasing your insurance policy from any type of insurer, from the largest corporate conglomerate to the local mom and pop shop.
If there’s any consensus about the worst insurer, however, recent news reports and investigative journalists have found that there is one company out of the large firms that consistently performs terribly toward those bringing claims and even toward their own customers – Allstate. Allstate has been criticized for excessively low settlement offers and outright claim denials.
They also famously came under fire for having a “suckers list” that included clients who they knew they were overcharging in premiums and deductibles. They targeted these consumers, knowing that their deserved market rate was far less, but they were able to continue charging and increasing costs based on these customers’ habits and spending potential.
Clearly, the ethics of these companies are not always admirable. The good news is, there are resources available to you as you decide what insurance to choose. You should be able to expect better from your insurance company. You are their client! But when things inevitably go wrong in insurance negotiations, know that Thompson Law is standing by to help you, anytime 24/7.
You may have heard the terms 30/60 coverage, or that Texas is a 30/60/25 state. These descriptors refer to Texas’ minimum requirements for auto insurance, otherwise known as liability coverage. The coverage breakdown includes:
After an accident where the at-fault party has liability coverage, payouts up to these amounts may be issued based on loss and injury caused from that accident. If losses are higher than these amounts, claims may be made to other parties’ insurance, and lawsuits may be brought against individuals.
Additionally, it is required in Texas that insurance providers offer UM/UIM and PIP. Policyholders may formally reject these coverages in writing. It is important to understand as a policy owner that if you are involved in a collision with an at-fault party who does not have insurance, or has inadequate insurance, it is very difficult to recover damages for your injuries without UM/UIM and/or PIP.
Our clients often seek our help as an insurance claim attorney firm, because they have been hit by a driver who only has liability coverage. These coverage amounts are simply not enough to cover the medical bills, car repairs and other damages that occur in many auto accidents. If you need an insurance claim legal help after being hit by an uninsured, underinsured, or minimally insured driver, don’t hesitate to reach out for the assistance you deserve. Your team at Thompson Law is standing by and ready to fight for you.
When you are still in the process of making payments on your car loan, your lender determines the level and type of coverages that you must have. If you do not comply with the policy limits required, you risk being in default of your loan, which has serious consequences for your credit and future ability to take out other loans. Lenders have this control during the term of your loan because they are the actual owner of your vehicle until it is paid off.
The following list includes recommended coverage amounts by Texas auto insurers and insurance claim attorneys. Your lender may require different amounts from these guidelines, based on the specific value of your car and other factors.
The minimum auto insurance requirements for the state of Texas rank fairly well when compared nationally. Texas’ minimum required liability coverage is higher than 28 other states. Texas would surpass the coverage requirements of about a dozen more states if UM/UIM coverage was essential there. In addition to Bodily Injury Coverage per person, per accident, and Property Damage per accident, about 50% of states in the US mandate some amount of coverage for the case of a wreck with Under-Insured or Uninsured motorists (UM/UIM).
Selecting coverage that is right for you and for your family is an important decision. Our insurance claim attorneys hope this guide to the types of coverage available and the implications of minimum versus recommended coverage are helpful. And hopefully, you won’t need to file an insurance claim by staying safe and accident-free. No one expects to need an insurance claim attorney. However, should you need any help with an accident claim, a difficult insurance adjuster, or you are just hitting an insurance corporation stonewall, Thompson Law is always here to help?
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The State of Texas has a statute of limitations of two (2) years for personal injury cases, so if you have experienced a car accident, truck accident or any personal injury incident, consult with an experienced personal injury attorney.
The sooner you know your options, the sooner you are on a smooth path to recovery and your deserved compensation. If you’ve been hesitating to reach out, don’t delay any further. Call the insurance claim attorneys Thompson Law right away for assistance with your injury and claim.
Thompson Law receives an attorney fee and you pay no legal fees as our client unless we pay you. Thompson Law has 350 years of combined experience in legal representation and has won over $1.8 billion dollars in cash settlements for our clients. We master the art of managing client cases with empathy, compassion, respect and, of course, prodigious skill. Contact us today for a free, risk-free consultation to discuss your accident and your options.
State law limits the time you have to file a claim after an auto accident. If you have been injured in an accident, call now to get the help you need.