There are certain state and federal laws that govern how much insurance coverage a motor vehicle must carry. In Texas the state law is that passenger vehicles must carry at least $30,000 in coverage to cover each person with a limit of $60,000 per accident. What that means if five people are injured in the accident, the most that particular policy will pay out is $60,000 and the most that any one person can get is $30,000 – these are what we call the minimum limits.
There are also federal laws which govern interstate commercial trucks that require them to carry $750,000 in insurance coverage. This may sound like a lot of money and it is, but these trucks with their speed and weight cause catastrophic damage when they are involved in wrecks.