In the coming year, Texas drivers will see a 2 to 3 percent increase in automotive policy rates in order to cover additional liability limits mandated by a law passed in 2007, said Chris Magana, a Farm Bureau Insurance agent in Temple. The Texas Legislature took the action in 2007 in an effort to address the rising level of medical costs associated with auto accident claims. About 7 million Texans will be affected by the rate increase.
The first change in Texas' coverage required went into effect April 1, 2008, and mandated that any liability policy purchased or renewed following that date must consist of no less than $25,000 for bodily injury or death to one person, $50,000 for bodily injury or death to two or more people and $25,000 for property damage per accident. These limits were increased from the previous amounts of $20,000, $40,000 and $15,000, respectively. The limits will increase Jan. 1 to $30,000 for each injured person, up to a total of $60,000 per accident, and $25,000 for property damage per accident, Magana said.
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The first change in Texas' coverage required went into effect April 1, 2008, and mandated that any liability policy purchased or renewed following that date must consist of no less than $25,000 for bodily injury or death to one person, $50,000 for bodily injury or death to two or more people and $25,000 for property damage per accident. These limits were increased from the previous amounts of $20,000, $40,000 and $15,000, respectively. The limits will increase Jan. 1 to $30,000 for each injured person, up to a total of $60,000 per accident, and $25,000 for property damage per accident, Magana said.
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