A new study shows that higher costs for parts, an increased number of larger trucks and SUVs on the road, and more insurance companies owning body shops are to blame for us Texans paying the fifth highest rate for collision insurance.
So largely thanks to the high cost of repairing wrecked cars and trucks, we now pay the 11th highest rate for automobile insurance in the country. We are already paying the highest rates for homeowners insurance.
Texas liability coverage — which pays when you are at fault in causing a collision — is the 20th highest among the states. Texas increased its minimum liability limits from $25,000 to $30,000 per person at the beginning of 2011, causing some of the rise in premiums. The study also blames the rapidly rising expense for medical treatment.and higher number of uninsured drivers.
Overall, Texas drivers paid an average premium of $1,022 a year for insurance, more than the national average of $901. If you lived in Louisiana, you’d pay $1,270.00, the highest in the U.S.
Insurance companies build the cost of your hiring an attorney into the money they pay out in claims, as they do not want an aggresssive lawyer to sue them. And filing a claim or suit will not make your own insurance rates go up — a common worry among my clients. If you have any questions about whether you should proceed against an automobile liability carrier if you have been injured in an automobile or truck accident, please call me at 817-885-8000.
Even taking in all these high premiums, they try to deny claims to save money. If you’ve been injured in a wreck, you need an attorney who knows how to fight against stingy insurance companies to get you the money you deserve. E-mail or call me today at 817-885-8000 to discuss your case.