Fort Worth Car Accidents: Liability Limits Explained

Have you or a member of your family been involved in a Dallas-Fort Worth area car accident, truck wreck or motorcycle crash? If so, then you need to make sure that you are armed with the best information and knowledge in order to make a successful claim.

 

Listed below are some of the most common terms you might encounter while dealing with the at-fault driver’s insurance claim. However, you would probably benefit from reading our free book 15 Mistakes That Will Wreck Your Texas Accident Claim, which you can download for free here.

 

Definitions of Common Auto Insurance Terms

 

Liability Limits

This refers to the amount of liability insurance a person has. In a personal injury case, it represents the maximum amount of compensation for which the insurance company is liable. Liability insurance does not cover you or your vehicle – it only covers injuries to your passengers, occupants of other vehicles, or pedestrians or bicyclists who were injured in your wreck.

 

Minimum Limits for Passenger Cars

In Texas, the minimum amount of liability insurance that motorists are required to carry is $30,000. However, many drivers have higher limits – possibly $50,000 or $100,000. Even higher limits are available.

 

Minimum Limits for Interstate Trucks

Semi-trucks and other commercial vehicles on Texas roads are required by law to carry much higher insurance limits than smaller passenger vehicles. Trucks that are involved in interstate commerce must carry a minimum of $750,000 in liability insurance. However, many trucking companies carry as much as $5,000,000 or more.

 

Excluded Drivers

An excluded driver is one who is specifically named on the auto insurance policy as one who is not allowed to drive the vehicle under that policy. In the event of them driving the vehicle and causing an accident, the insurance policy in question will not cover them or the damage they are responsible for.

 

Diminished Value

Diminished value of a motor vehicle is commonplace after an accident where significant property damage has occurred. Even if repair work has been done, there may still be some inherent diminished value regardless. In order to determine the amount of inherent diminished value in your case, you can subtract the value of your vehicle after all repairs are completed from the total value of the vehicle before the crash occurred.

 

Free Consultation

For a free, no obligation consultation on your case with an experienced Fort Worth personal injury lawyer please call 817-294-1900.

 

 

Other Articles You Might Be Interested In:

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Most Expensive Auto Accident Injuries

Making a Claim if You Weren’t Wearing a Seat Belt

Protect Your Legal Rights After a Car Wreck

Common Traffic Accident Mistakes: DOs & DON’Ts

Mark A. Anderson
Board Certified Personal Injury Lawyer in Fort Worth, Texas