Auto Insurance Bills Will Increase April 1
Auto Insurance Bills Will Increase April 1
Drivers who carry the minimal liability coverage for bodily injury and property damage will be paying higher premiums for a higher level of mandated coverage that goes into effect next month. “We are estimating that your premiums will be going up 4 to 6 percent if you currently have the minimal liability coverage,” said Jerry Hagins, a spokesman for the Texas Department of Insurance. “It works out to about $15 to $22 a year.”
Lawmakers enacted the new law because insurance companies said that lower coverage levels were not always enough to cover the costs of accidents. Most insurance providers have factored in the new coverage levels and the added premium costs when they issued or renewed policies that extend beyond April 1, Hagins said.
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