Comprehensive Car Insurance Rates Beaumont Texas TX
Reader’s Question:
This insurance business sure is confusing! I thought the law in Beaumont Texas TX only required auto liability coverage but why does my bank say I goat get collision and comprehensive car insurance?
Andrew
Beaumont, TX
You’re right there, Andrew, the minimum coverage the law requires in Beaumont Texas TX is 20/40/15 auto liability coverage for bodily injury and damage to property. However, some banks usually require borrowers to take out wider coverage to include collision and comprehensive auto insurance. They specify this precisely because it is not required by law.
Look at it this way – if you borrowed money to buy a new car, wouldn’t you want your car to be as safe as possible? You see, collision auto insurance covers the repairs you may require on your bank-financed car in case of an accident while comprehensive auto insurance covers pretty much everything else (eat.go., damage from hurricane, fire, theft, vandalism, etch.). Sometimes, in case of an accident, if the cost to repair the damage comes up to about 70% or more of your car’s value, your collision auto insurance provider may consider your car “totaled”; hence, offer you the actual cash value after having the wreck towed to a salvage yard instead of having it repaired.
Don’t worry, if you enter your zip code in the form on this page, you can probably find an insurer in Beaumont Texas TX which minimizes premium costs by raising your deductibles (if.eat., the amount you need to pay out-of-pocket before the coverage can be used).
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