Although Texas law requires drivers to maintain only a minimum amount of liability insurance (designed to pay for damages you cause to other drivers), many Texans choose to get “full coverage”, which will also pay for your own damages you cause. Full coverage policies also typically cover damages from theft, weather conditions, or fire. Many automobile owners mistakenly believe that if they have full coverage automobile insurance they will not have to pay any amount if they are involved in a car accident. This is not always true.
If you choose to purchase full coverage automobile insurance, you should closely examine the policy to find out what the limit is that will be paid out for each accident, and what happens if an accident you cause exceeds that limit. You may find out that you have to pay any excess costs. You also will be responsible for your deductible. In most full coverage policies, when a vehicle is a total loss, the insurance company will only pay out the current market value of the car. If you or another driver happens to owe more on the car than its current market value, you will be responsible for making up the difference, which in some cases can be significant.
There are also other expenses vehicle owners incur that will not be covered by full coverage, such as normal wear and tear and expenses related to failing to properly maintain a vehicle. Full coverage insurance may also not pay for the theft of some items from your vehicle, such as stereo systems, GPS units, radar detectors, DVD players, and more. You should ask your insurance company or examine your policy to determine which items are insured.
Have you been involved in an accident in the Dallas area? If so, contact the Barber Law Firm at 817-527-8833. You may be able to recover from the other driver for your medical expenses, damage to your vehicle, and more. Call us today for a free consultation.