Your auto insurance policy in Texas should include coverage for uninsured and underinsured drivers. This means that if you’re in an accident caused by a driver with no insurance or insufficient coverage, your insurance will help cover expenses resulting from the accident. While it’s possible to refuse this coverage to reduce your premiums, EasTex Insurance in Tyler, TX, advises caution as you could take a bigger risk than you realize.
The Risk of Uninsured and Underinsured Drivers
According to the Texas Department of Insurance, in 2023, 12% of Texas drivers were uninsured. The Texas Department of Motor Vehicles estimates that figure to be closer to 20%. Either way, that’s a significant number of drivers on the road without insurance. Add in those with a very low level of insurance compared to what you carry, and that’s a lot of drivers who wouldn’t have the coverage to pay for the damage they cause to your car.
If you choose to drop this coverage, you’ll have to sign a denial form. However, this means that if you’re in an accident with one of these drivers, you may not receive enough compensation to cover car repairs and medical bills. This could end up being far more expensive than any increase in your premium if you keep this coverage.
Contact EasTex Insurance in Tyler, TX, to ensure that your car has appropriate insurance coverage. Don’t let someone else with less insurance put you in a difficult financial situation.