Mininum Full Coverage

[jose01121980]

What is the name of your state (only U.S. law)? Texas

I am requesting several quotes for insurance, but nowadays, insurance companues are so money hungry that they 'throw in' cell phone insurance without you knowing its included.

My question is -

What are the minimum requirements under Texas law to carry on 'full coverage' insurance policy?

I'm aware that Comprehensive and Collision as well as Bodily Injury (BI) or Property Damage are required.

I just think $1800 for a 6 month policy is insane. (For a new vehicle).


Im 28, clean driving record, Ive had insurance in the past.

Please advice.

[ecmst12]

What kind of car? $500 is the minimum deductible for comp/coll allowed by most banks when you have a loan with them, did you go lower? Comp/coll on a new car is going to be expensive simply because the value is so high, and you are insured up to the fair market value of the vehicle. (BTW, did you get Gap insurance on your loan? Very important!)

What about liability limits? Minimum coverage is not enough in many states these days, though I think TX minimums are decent. I'll have to look it up when I get back to my desk. Do you own a home or any other assets? Married/single? Kids? I wouldn't worry about the cell phone coverage, that was probably a 'freebie' anyway. The area you live in has something to do with it also; policies are rated by zip code. If you live in a statistically risky zip code, your rates will be higher even if your record is perfect. There are tons of factors that go into rating a policy, if all the companies you ask are giving you around the same numbers, then it's probably you not them. Also, you say you had insurance 'in the past', does that mean you don't have it now? A break in coverage increases your risk, and also makes you ineligible for 'life of policy' discounts which you'll be able to start getting next renewal.

[ecmst12]

Ok got it, min in TX is 20/40 BI and 15 PD. That's pretty low though, I'd recommend at least 25 PD (This will cover you for 90-95% of accidents you could cause) and 50/100 BI, unless you own property, in which case I'd say go higher.

[moburkes]

$500 is the maximum deductible, not the minimum. No bank will cry if your out of pocket expense if only $250 vs. $500.

No law requires comprehensive and/or collision, although your lender may require it.

Lastly, regardless of what you are quoted, you are only required to purchase liability coverage. So, when shopping, ask for copies of the quote in writing, so that you can see exactly what you are paying for.