No one likes dealing with insurance, but in many states it’s required. Many Texans handle their due diligence and make sure they have insurance coverage to protect themselves. In fact, Texas requires a certain amount of mandatory insurance, which includes Auto and Health Insurance. Compulsory auto insurance is described as 30/60/25 coverage. It covers $30,000 for injuries per individual, $60,000 per accident, and $25,000 for property damage.
Texas’ mandated health coverage is under the Affordable Care Act (ACA) and must include ten Essential Health Benefits, or EHBs (https://www.tdi.texas.gov/hmo/documents/manhealthben.pdf).
The Texas Department of Insurance (https://tdi.texas.gov/pubs/consumer/cb020.html) outlines what auto insurance is required and what it covers.
After the requirements are met, Texans can choose additional plans to help cover specific things like collision coverage, liability coverage, uninsured motorist, and rental reimbursement coverage. These are good ideas because mandatory insurance coverage is not guaranteed to pay out the full extent of an individual’s expenses. And that’s even if you have an attorney to help ensure you receive full compensation from them because some accidents can have repercussions beyond what basic insurance plans pay out.
If it’s time to review your insurance plan, consider additional coverage.
Personal Injury Protection is an Option
It helps to know what personal injury protection (PIP) coverage can do.
One smart supplemental insurance plan is personal injury protection (PIP) coverage. Think of it as an extra parachute for your main insurance coverage. Once the primary insurance has been exhausted, PIP can support the rest of the expenses to help your finances “land safely.”
Again, working with a personal injury attorney to receive full compensation for an injury claim is essential. A lawyer can help shield you from paying expensive medical bills while waiting for the settlement check. But there are other expenses you may have to cover beyond medical bills, and PIP can handle those costs right away. PIP coverage can include lost income, child care, and funeral expenses. These are the financial hardships most Texans don’t consider when getting health or car insurance (https://jvlawfirm.net/practice-areas/auto-accidents/). For instance, how do you pay the utility bills when personal injuries have put you out of work? The utility company may not wait and cut off the lights. The extra cash you pay out monthly on a PIP plan can be a blessing when you need it.
Geico created a YouTube (https://www.youtube.com/watch?v=6l2LP60fAIQ) about PIP coverage and how it can help. One thing to remember is PIP coverage can be used regardless of who’s at fault for an accident. There is no haggling with an insurance adjustor to receive the money. The amounts have been predetermined, so you know what you will receive. Another benefit to PIP is it covers more than the policyholder. Anyone else involved in the accident, family, or friends in the car can also receive that PIP money. So, not only is PIP good for the individual, but it can also be used to care for those you care about most.
