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Automobile Insurance
Limits
You might think
million-dollar insurance settlements and jury verdicts
are
common. They are not.
Your odds of being on either end (payer or payee) of a
million-dollar suit are less than your odds of winning
the big prize in the Texas Lottery. These long odds are
not good for lottery players. However, they are good for
injury claims.
You do not want to sue or be sued for a million-dollar
injury. Claims of this
size generally are reserved for those who suffer
catastrophic injuries. Money never can adequately
compensate for these losses.
But while million-dollar injuries are rare, claims that
exceed minimum levels of insurance coverage are somewhat
more common.
A million dollars in liability insurance coverage may be
unnecessarily high for most people, but it appears that
most Texans are seriously underinsured.
Most automobile owners who have insurance carry only the
minimum levels of coverage required by state law. The
majority of homeowners and renters are no better
protected.
These coverages are inadequate for most people.
The effect of insufficient insurance protection can be
devastating. Because marginally higher coverage is so
affordable, it is unwise to run even the modest risk
associated with having only a minimum amount.
We recommend at least these levels of insurance coverage
for all automobile owners:
Personal Injury Liability - $100,000 per person /
$300,000 per accident
Property Damage Liability - $50,000
Personal Injury Protection - $10,000
Uninsured Motorist - $100,000 per person / $300,000 per
accident
Underinsured Motorist - $100,000 per person / $300,000
per accident
Homeowners and renters should have liability protection
of at least $100,000 per person / $300,000 per accident.
Kraft & Associates
2777 Stemmons
Freeway
Suite 1300
Dallas, Texas 75207
Dallas: (214) 999-9999
Fort Worth: (817) 999-9999
Toll Free: (800) 989-9999
FAX: (214) 637-2118
E-mail:
info@kraftlaw.com
Please direct general business inquiries to:
Ms. Nita Maki, Office Administrator
nmaki@kraftlaw.com
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