Interesting Texas insurance statistics

It is common knowledge that everything is bigger in Texas. The insurance industry is no exception! Business is booming, as more people are aware of how important different types of insurance are to their personal and financial security. Whether you already have coverage and are considering a move to save money, or you think you need additional insurance to take away some of the stress and worry of everyday life, understanding what’s happening with Texas insurance is vital. Keep in mind some of these interesting facts when you get ready to change or add to your current coverage.

  • According to information provided by the Texas Department of Insurance, the average cost of a homeowner’s premium in Texas is steady when compared to a few years back, even though the size of the policy has increased. This means that insurance has actually become a better deal for homeowners.
  • Sadly, Texas has the highest rate of people without any form of health insurance, of which 80 percent are native or naturalized citizens.
  • You are unable to register a car in Texas without providing proof of insurance with a minimum liability of $30,000 for bodily injury, up to a total of $60,000 per accident and $25,000 for property damage.
  • If you are caught driving without insurance in Texas you will face fines and possibly stiffer penalties. For just the first offense, fines can be $300 or more, while further offenses carry fines up to $1,000 and license suspension. Choosing to drive without insurance usually costs more than just taking out the required policy.

As you can see, there are many reasons why you should look into getting the coverage you need with a local independent agent in the state of Texas. While car insurance is currently the only mandated form of insurance, you will find that life is much less stressful when you have adequate coverage of all types.