Thursday, March 28, 2024 Mar 28, 2024
62° F Dallas, TX
Advertisement
Partner Content i This advertising content was produced in collaboration between D Magazine and our sponsor, without involvement from D Magazine editorial staff.

Car Insurance: Are You Covered?

Why it’s better to understand your coverage before you need it.
By D Partner Studio |
Image
istock
Just because you pay your insurance premiums every month and carry proof of insurance in your car’s glove box doesn’t mean you are fully covered in an accident. Not understanding your insurance policy or assuming your safe because you have car insurance is a mistake.

Do you really know what level of insurance coverage you have? In a vehicle accident, this knowledge matters, as not all coverage is created equal. Automobile liability insurance coverage is mandatory in Texas, but there are various other levels of coverage options that provide protections for you and your family in the event of an accident. Don’t assume that you have enough coverage and remember that the term “full coverage” varies policy to policy. Sometimes, full coverage can mean “limited.”

“I have seen families destroyed because they thought they had sufficient coverage for uninsured motorists, but they had little or no coverage,” says Gene Burkett, an attorney with Frenkel & Frenkel. “Please don’t let this happen to you.”

Most people don’t understand their coverage until after an accident. Usually, that’s too late. To fully understand your automobile insurance coverage, study the declarations page of your policy. It states which type of coverage you bought and how much coverage you have for each option. If that explanation is confusing, go over it in detail with your insurance agent. Express the concerns you would have if you or a family member is in accident, so your agent can match you with the best type and amount of coverage. Changes may be in order.

“I have seen families destroyed because they thought they had sufficient coverage for uninsured motorists, but they had little or no coverage.”



In Texas, the driver who caused the accident must pay. However, according to the Insurance Information Institute, Texas is ranked second in the percentage of uninsured drivers. Every time you’re on the road, there’s a risk not only of getting into an accident, but also not being fully covered if one occurs. To meet the minimum requirements of this law, each driver must purchase the minimum amount of coverage. The limit is $30,000 for each injured person, $60,000 per each accident, and $25,000 for any property damage done to the vehicle.

The following overview outlines the various levels and types of automobile available insurance coverage, so you know what to ask your insurance agent about.

Liability and Collision Coverage


Liability insurance satisfies the minimum requirements by Texas law. It means there are limited protections in the event of an accident in the areas of lost wages and medical bills, car rental costs, and attorney fees, among others. There are two types of auto liability coverage that drivers in Texas must have–bodily injury liability coverage and property damage liability coverage. If you’re at fault for an accident that injures another person, bodily injury liability coverage helps pay for their medical expenses. If you cause an accident that damages the other person’s car, property damage liability coverage helps pay for repairs. Remember, there is a cap on the total amount insurance will pay for medical expenses from an accident you cause. Carefully consider the amount that makes you comfortable.

Liability doesn’t cover the cost of repairs for your own car. This is what collision coverage is for. Under collision coverage, the amount you’ll receive could be the actual cash value, the amount on the declarations page, or the amount of replacement or repair. Be sure to check with your agent to find out the specifics of your policy.

Comprehensive Coverage


This isn’t a requirement by law, but for most people, it’s a “nice to have” addition. Collisions aren’t the only way someone can suffer damage to their vehicle. Comprehensive coverage protects the vehicle and the possessions inside in the instance of theft or vandalism. Often, the coverage is limited to the cash value of the vehicle.

Personal Injury Protection Coverage


In the event of an automobile accident, drivers and passengers feel lucky—despite the damage–when there are no related injuries. Unfortunately, this isn’t always the case. Personal injury protection coverage pays for medical bills related to the accident and, when necessary, can cover funeral costs. The policy will cover yourself, family members, passengers, and other injured people including bicyclists and pedestrians. The coverage isn’t based on fault. Some policies include a percentage of lost income due to an accident or the cost of a caregiver.

Uninsured/Underinsured Motorist Coverage


While Texas mandates liability coverage at minimum, not everyone has it. There’s always a chance an automobile accident will be caused by someone who does not have insurance or adequate insurance. This additional coverage in your policy will cover what the other driver’s policy should have paid.

Towing and Rental Reimbursement Coverage


After an accident, eventually the cars must be cleared from the road and the drivers need to go on about their day. Whether the car can’t be operated or if there’s only a flat tire, towing costs can be expensive. Adding a towing and rental car reimbursement coverage to your policy will help off-set these additional expenses. The rental car policy will cover the cost of your rental while your vehicles is being repaired. The coverage is typically a set daily amount.

Says Burkett, “Liability insurance covers the ‘other guy’ in a car wreck. Make sure to cover your family with as much as uninsured motorist coverage and personal injury protection you can reasonably afford.”

If you’ve been injured in a car, truck, or motorcycle accident, you likely have hospital bills, lost wages and a host of financial losses. The attorneys at Frenkel & Frenkel work to get you significantly more compensation than if you were to negotiate with insurance companies on your own.

Some car, truck and motorcycle accident cases are more complex than others. While some involve serious injuries, others may have resulted in the death of a loved one. Mark Frenkel, Scott Frenkel, and Gene Burkett have first-hand experience with the insurance industry and more than 20 years of experience defending their clients against big insurance companies. They look beyond the immediate picture for the underlying facts. They have handled thousands of car, truck, motorcycle, pedestrian/bicycle, and commercial vehicle accident cases and have access to experienced investigators, reconstructionists, and medical experts. They also work with economists and life care planners to help determine the cost of injuries today and into the future. The attorneys at Frenkel & Frenkel handle every motor vehicle accident injury — whether caused by drunken drivers, truck driver fatigue, auto defects — on a contingency basis. This means clients don’t pay attorney fees unless they get compensation, either through a settlement or verdict at trial.

From everyday auto and motorcycle accidents to commercial and 18-wheeler auto wrecks, pedestrian bike accidents, and insured to uninsured, Frenkel & Frenkel goes after negligent individuals and companies responsible for loss and injuries. Taking the “counselors” part of “attorneys and counselors” seriously, they believe their clients need an advocate who understands their loss, can clearly explain the law, and will persevere in the pursuit of justice.

 

Related Articles

Image
Hot Properties

Hot Property: This Preston Hollow Modern Has Limestone as Old as Dinosaurs

Designed by Todd Hamilton, the mansion features lots of organic elements, including a shell stone only found in Texas.
Image
Restaurants & Bars

Vinito Is the Little Wine Shop That Could—Sell Mexican Wine

In Oak Cliff, two best friends are quietly wooing customers with the vines and unique blends of Mexico.
Image
Business

Experts Weigh In: What the NAR Settlement Could Mean for DFW’s Residential Market

Rogers Healy, Briggs Freeman's Russ Anderson, and Allie Beth Allman's Keith Conlon share insights on the landmark National Association of Realtors lawsuit.
Advertisement