Don’t Settle for Less: Navigating Rising Insurance Rates in Texas with an Experienced Personal Injury Attorney

Are you concerned about the recent surge in insurance rates in Texas? You aren’t alone. Many Texans are baffled by significant hikes in their insurance rates, despite not having any claims or clear justifications for the hikes.  The number of verdicts and the amount of those verdicts have not been cited as a reason to justify the increase because they do not exist.

Understanding the Surge

Gregory Kessler, a spokesperson for Liberty Mutual, claims that several factors are to blame for the nation’s rising insurance rates. Inflation, higher labor and construction costs, and the infamous and fuzzy “supply chain issues” all contribute to premium increases. As a result, homeowners in Texas have seen alarming increases in their insurance rates, with some policies rising by as much as 48%.

Potential Impact on Texas

Texas has a unique “file and use” system that allows insurance companies to raise prices without explicit approval. This regulatory framework has contributed to significant increases in insurance premiums throughout the state. While insurers attribute these increases to the reasons listed above, it is critical to ensure you have adequate coverage to protect your interests, especially in the event of a personal injury.

Impact on Personal Injury Cases

If you are injured in an accident, rising insurance rates may negatively impact your ability to obtain fair compensation.  Insurance companies are hoping that their actions of raising rates will cause juries to think twice about full compensation for injury claims.  It may or may not work, but it is indeed ironic that higher premiums could make insurance companies more likely to agree to smaller settlements or even deny valid claims.  Of course, jurors may not go along with the narrative, but it remains to be seen.

Navigating the Insurance Landscape

It’s essential to understand your rights when navigating the insurance landscape. Follow the steps below to protect yourself in case you are ever injured in a motor vehicle accident.

• Evaluate Your Coverage: Review your current insurance policy to confirm you have sufficient protection for any potential personal injury needs. Ensure you understand the full extent of your policies, including coverage for medical expenses, lost wages, and pain and suffering.
• Explore Your Options: Don’t settle for the first insurance company that offers a quote. Compare insurance rates to ensure you receive the best coverage at a fair cost. Read current customer reviews and inquire about the claims process to vet potential insurance providers.
• Seek Legal Representation: In the event of injury, it is critical to consult with an experienced personal injury attorney who will guide you through the claims process. In doing so, they can ensure you receive the compensation you need.
• Document Everything: Keep meticulous records of all expenses related to your accident, medical bills, and communications with insurance providers. This documentation will be critical if you need to file an injury claim.

Protect Yourself After an Accident

In the face of rising insurance rates in Texas, It is critical to put your health first and protect yourself after an accident. McCraw Law Group’s skilled personal injury attorneys are well-versed in Texas injury law and have a deep understanding of the unique challenges you may face when dealing with insurance companies. If you have been injured in an accident caused by someone else’s negligence, please contact our team as soon as possible for your free consultation. Our team is here to make your life easier by getting proven results fast, so you can focus on recovery.