How Much Insurance Coverage Should a Texas Motorcyclist Have?
The question of how much insurance coverage is appropriate has left many McKinney residents confused over the years. Fortunately, there is help available if you are struggling to answer this question for yourself and your family. By talking to a seasoned accident attorney, you could get a much better idea of how much insurance coverage you should have as a motorcyclist in McKinney.
Full Versus Responsible Liability Coverage for a Motorcyclist
Full insurance coverage should cover all the potential types of losses that a motorcyclist could suffer in the event of an accident. It should encompass liability or coverage in the event they harm somebody else, as well as underinsured/uninsured motorist coverage up to the mandatory state minimum, which would provide them some coverage in the event somebody else harms them through their negligence. Full coverage would also have the collision claim to pay in the event someone’s motorcycle is damaged through no fault of their own.
Furthermore, it should encompass personal injury protection (PIP), which is a form of no-fault policy. In Texas, the mandatory minimum for PIP coverage is only $2,500. All someone must do to recover compensation after a wreck is show that they were injured and demonstrate the value of their injury through lost earnings or medical bills, and the insurance company will send them a check. So, this is a much smaller policy, but it is still important in certain circumstances. It is important to buy as much PIP as you can afford, in Texas.
Conversely, responsible liability coverage is not about having all types of coverage, but rather having all types of coverage in the amounts the policyholder needs them for. Due to this, what defines “responsible” coverage varies on a case-by-case basis.
It depends on what the rider can and cannot afford, as well as on what their risks of loss are. Particularly if someone has businesses or has assets to protect, responsible liability coverage could include excess policies or umbrella policies that others may not have, depending on their assets.
General Rule for Minimum Responsibility Coverage
The minimum responsibility coverage for a motorcyclist is the same as other vehicles: the state minimum is a 30K/60K policy which provides coverage up to $30K per person and $60K per incident for bodily injury should you be at fault for injuring another. Insurance companies cannot sell policies that provide less coverage than that in Texas.
Typically, there is also an identical 30K/$60K policy for underinsured/uninsured motorist coverage and $2,500 for PIP included as part of the minimum coverage. Those are all considered mandatory state minimums unless the person signs off saying they want something else. However, even if the person does sign off saying they want something else, a driver in Texas still must have a minimal liability policy of $30K per person and $60K per incident..
Answering the Question of How Much Insurance Coverage to Have as a Motorcyclist
Insurance can be complicated even for people who work in the industry, and statewide legal mandates for minimum coverages can make this complex task even harder to manage alone. If you have any concerns about whether your insurance coverage is sufficient for a Texas motorcyclist like you, legal counsel experienced with how insurers deal with bike accidents may be able to help. Call McCraw Law Group today to set up an initial consultation.