Auto insurance rates in Texas are substantially lower than the national average in 2011, which is $1,440 as compared to the Texas average of $1,250.
Texas auto insurance costs fell 18% in 2011, following a 16% decrease between 2009 and 2010. There is no fixed premium structure in Texas and insurers set specific rates according to their own formulas. Therefore, Texas drivers are advised to check car insurance rates on our site in order to be sure that they are paying the lowest possible price.
Rates for auto insurance in Texas showed frequent fluctuations in 2010. After a drop in March, rates rose steadily until stabilizing in July and then falling sharply in August and decreasing substantially again in September. October and November showed slight further decline, followed by a rise in December and another drop for 2011. As rates in Texas are quite volatile, it is recommended to shop around and to constantly monitor rates in order to take advantage of any downward adjustments that may occur in the future.
Minimum insurance requirements in Texas rose in 2011 and now are set at $30,000 per person and $60,000 per accident for bodily liability with a $25,000 limit for property damage. However, Texas works under a tort system, where one party must be judged responsible for any accident. That party is in turn held liable for the entire cost of the accident. Higher limits are therefore recommended to protect assets in the event of a lawsuit. Coverage to protect against damage caused by an uninsured or under-insured driver is available and highly recommended.
Advice for Getting the Best Deals
Regional and national, as well as statewide, insurers offer auto coverage in Texas. Since each company uses its own formulas to determine premiums for each driver, no one company or type of company can be said to provide the best rates in all cases. Experts recommend obtaining multiple quotes from reliable insurance companies which are rated A or higher by A. M. Best. It is also advised to check the J. D. Power ratings for consumer service related information.
Texas drivers turn to our site for the most reliable auto insurance pricing information and the multiple quotes that they need in order to get the lowest rates in the state.