List of Non-Standard Auto Insurance in the State of Texas
August 27th, 2010
-
texas proud image by buckwheat from Fotolia.com Non-standard auto insurance policies have been sold in Texas since 2005. Texas is one of the few states that regulates certain types of insurance policies by requiring them to be written in a pre-determined, standardized form. Until 2005, auto insurance was one of the standardized types of insurance. Though the standardized policy is still available for sale, non-standard insurance coverage has also been sold in Texas since 2005. You can make wise auto insurance choices if you know the difference between standard and non-standard coverage. - According to the lawyers at the Cure & Francis firm in Texas, non-standard auto insurance typically restricts coverage when compared to the standard policy. Some non-standard policies exclude both liability and physical damage coverage if you use your vehicle for deliveries of goods, such as newspapers, magazines or food, for compensation.
- In Texas, negligent drivers who cause accidents are sometimes subject to punitive damages imposed by the court system. The standard auto policy covers these damages, but some non-standard policies do not. This can result in large financial losses that you must pay out of pocket.
- The Texas standard auto policy only permits insurers to offer depreciated settlements, or settlements that take into consideration the age and condition of a vehicle, in the event of a total loss. Some non-standard policies, however, permit depreciation on partial-loss repairs. For example, your insurer may not pay the full cost of a new paint job after a hail storm if you purchased a non-standard policy.
- Supreme Court rejects appeal in Ford Explorer rollover case
- Property Insurance Options
- Employment Practices Liability Insurance – Because Law Suits Happen
- Comparing Condo Insurance for Rental Properties
- What Are Financial Barriers?
Delivery Exclusions
Exclusion of Punitive Damages
Depreciated Repair Settlements
Similar Posts:
Tags: Auto Insurance, Texas
Posted in Latest Insurance News | No Comments »