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Liability Insurance Little Elm Texas 0

Posted on 4, January 2014

in Category Auto Insurance


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Call 972-346-4666 or click here to get an online auto insurance rate quote for liability insurance Little Elm Texas

Is 30/60/25 enough liability insurance Little Elm Texas?  Most folks who call for liability insurance want the cheapest plan.  Is 30/60/25 the cheapest plan? Maybe it is only the cheapest plan as long as there is no car accident.  It can possibly be the most expensive plan if it is a fatal accident.   Let’s break it down a little further.  What is 30/60/25?  If you are at fault for hitting a vehicle and hurting someone, what happens?  If that were to happen then up to $30,000 for medical is paid out per injured person up to a maximum of $60,000.  The amount to pay for the other vehicle is $25,000.

Call 972-346-4666 or click here to get an online auto insurance rate quote for liability insurance Little Elm Texas

How many expenses does $25,000 cover in Texas? Texas has the second highest volume of SUVs in the country only behind California.  Texas also has the largest volume of trucks in the United States. Texas is the largest market for new pickups in the U.S., with trucks representing one in five vehicles sold in the state last year.  What does this mean?  Brand new midsize SUVs range in price from $25,000 – $30,000.  The largest SUVs range over $40,000 a year.  Now let’s look at trucks.  New trucks can range from $18,000-$55,000.  A brand new 2014 Chevrolet Silverado crew cab MSRP is $45,605 according to Motor Trend.  A 2014 Ford F450 ranges from $50,000-$55,000 according to Motor Trend.   The point is that the state minimum of $25,000 is not enough.  It only cost a few more dollars to possibly save a few thousands in the event of a car accident.  The expense can be even greater if multiple vehicles are involved in the accident.  That $25,000 would now have to pay for all the vehicles involved in the accident.

Call 972-346-4666 or click here to get an online auto insurance rate quote for liability insurance Little Elm Texas

Is $30,000 per person, $60,000 per accident enough?  Not when you look at everything it is intended to cover. $30,000 is to cover medical expenses, pain and suffering, legal costs, your passenger, the other driver and their passengers.  Again, for a few more dollars wisely spent over the term of the policy can save once again a few thousand in the event of a car accident.  This defeats the purpose of liability insurance trying to protect your assets when the state minimums barely cover anything.  Most insured’s don’t understand that when they shop for insurance that they will get better rates if they had higher limits to begin with when switching carriers compared to state minimums.  That’s right, most insurance companies provide more favorable rates when switching from higher liability limits.

Call 972-346-4666 or click here to get an online auto insurance rate quote for liability insurance Little Elm Texas

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