Below you’ll discover relevant notes about auto insurance in the state of Texas.
A Few Auto Insurance Companies doing Business in Texas
- State Farm Mutual Automobile Ins. Co covers more vehicles in the state than any other carrier in fact they underwrite double the 2nd largest company. They were established back in the year 1922 in Illinois and today have a very large workforce with rougly 66,000 people. They are a mutual type company which means they are owned by the policy holders.
- Germania was created in 1896 and are based out of Brenham, Texas. They formed a subsidiary for entering the car insurance market in 1978 and are also a mutual entity. They do business through their agent network which can be seen on their website or one can otherwise be located by calling 1(800) 392-2202.
- Home State County Mutual Ins. Co was founded in the year 1948 and they can be phoned at (254) 776-4521. They are the 9nth largest car insurers in the state and their mailing address is the following: P.O. Box 8036 Waco, Texas 76714 or otherwise they can be emailed at the following for questions: info-request@homestate.net.
- GEICO (who you’ve undoutedly seen commercials with the green Gecko lizard) sells coverage accross the US and is the 4th largest carrier for auto insurance in TX. They were initiated back in the year 1936 and are headquarterd in Maryland. They can be reached by telephone at 1(800)861-8380.
Texas Insurance Coverage Standards and Rules
- The minimum allowed for liability coverage in the state is $30,000 for bodily injury per person for each accident /$60,000 total bodily injury per accident and $25,000 for covering for property damage.
- As far a maximums are concerned in getting liability it does not appear that there are any. So this should be limited by what an insurer is willing to provide. If that is enough then look into an umbrella policy.
- Uninsured/Underinsured Motorist Coverage in TX: It is not required have them though if electing not to it would have to be documented in writing. Consumers must be given the option to purchase it.
- Personal Injury Protection (PIP) has to be avaible to all policy holders and at least $2500 of it. It can also be elected out of but that would also have to done in writing.
- Other available types of coverage inside the policy are collision, comprehensive, medical payments, towing/labor, rental car etc.
- There are strict rules on whether companies are allowed to cancel a policy holder. An insurer cannot do so if a policy has been ongoing for 60 day with the exception of the following: fraud has been commited with a claim, the loss of a license/registration either by the main policy holder or by another driver in the household that uses the auto. The other reason they can cancel is if the insured does not pay their premiums for coverage provided.
- For those that are in the high risk market and can’t get covered there is a progam called TAIPA but bear in mind its just for the basic liability protection.
Texas Car Insurance Statistics and State Contact
- Roughly 20% of automobiles on the road in the state are being operated with not coverage at all.
- There are an estimated 20 millions vehicles on the road in the state (including uninsured).
- The Texas Department of Insurance is found at their address of 333 Guadalupe, Austin 78701 or they can be contacted by phone at (512) 463-6169. To see their website go here.