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Texas Full Coverage Insurance Rates

Full Coverage Insurance, Texas Auto Insurance Add comments

I just finished paying off my vehicle.  Am I still required to carry full coverage auto insurance in Texas?

If you are no longer financing your vehicle you are not required to carry full coverage auto insurance. However, that does not mean that you should rush out and reduce your auto insurance coverage.  Remember, that full coverage provides both coverage for your vehicle and any other vehicles or property that is damaged in an accident.  Liability insurance only provides coverage for other vehicles and property that is damaged in an accident. It does not provide coverage for your vehicle if you are involved in an accident.

For example, if you are involved in a car accident and the repairs for your vehicle total $10,000 you would have to pay that much out of your own pocket.  At that point you would probably wish you still had full coverage car insurance.  Some people that own a vehicle that is not worth very much find it a better idea to only carry liability insurance.  If your vehicle is only valued at $1,000, it is probably not worth it to you to pay an extra $50 a month or more to insure it with full coverage. On the other hand, if your vehicle is worth $20,000, it would definitely be worth it to you to carry the additional coverage just in case of an accident and that financial strain it could place on you if you did not have the proper coverage.

If you are unsure about how much auto insurance coverage is right for you, take some time to speak with an insurance agent.  Also, spend some time doing a little comparison shopping to find which company can offer you the best coverage at the most affordable price.

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