Auto insurance provides important protection in the event of a traffic collision. Some types of coverage are mandatory, such as liability insurance. Others are optional, affording policyholders additional protection at additional cost. One of the most popular policy add-ons in Texas is collision insurance, which covers the costs of repairing or replacing your vehicle following a car accident.
Here’s what you should know about collision insurance and how to access it in the event of a crash.
What It Covers
Collision insurance pays to repair or replace your vehicle in specific circumstances. These include:
- A collision with another vehicle that you cause
- A collision with a fixed object, such as a guardrail, tree, bridge support, or telephone pole
- Any collision in which your vehicle rolls over, even if no other vehicle sustains damage
Additionally, collision insurance covers damages to your vehicle resulting from contact with road hazards, such as potholes.
The purpose of collision insurance is to protect your vehicle and ensure you can get back on the road quickly. Collision coverage pays for the costs of replacement or repair of your car after you meet the collision deductible. If you have a newer car that is being financed or leased, the lender will likely require you to have comprehensive and collision insurance.
What It Typically Doesn’t Cover
While collision coverage applies to most moving-vehicle accidents, there are some things it won’t cover.
Comprehensive coverage is another optional insurance that provides an extra layer of protection. Comprehensive insurance will pay for damage to your vehicle as a result of:
- Fire, hail, or floods
- Vandalism or theft
- Striking an animal
- Being hit by a fallen object
Neither comprehensive nor collision insurance will pay for medical expenses for you or your passengers. You’ll need optional add-ons like medical payments or personal injury protection (PIP) insurance to address medical expenses following an accident for which you are at fault.
Do You Need Collision Insurance?
Collision coverage is not mandatory for drivers in Texas. Generally, state law only requires motorists to maintain auto liability insurance to cover damage or injuries they may cause others in motor vehicle accidents.
When deciding whether collision coverage is right for you, you should consider your current financial situation and the total value of your vehicle. If your vehicle is older and has a low value, the costs associated with maintaining collision coverage may not make sense financially.
However, if you rely heavily on your vehicle and do not have the financial ability to cover any out-of-pocket costs for repair following an accident, you may wish to buy collision coverage. It may be a wise investment and give you some peace of mind.
What Are the Costs?
The overall cost of your collision insurance coverage will depend on several factors. These include:
- Your driving record – Drivers who maintain clean driving records may receive lower collision coverage rates from car insurance companies.
- Your age – New drivers will have to pay more money for any car insurance coverage they have for their vehicle. Drivers over 25 will see lower rates, which may continue to decrease over the years.
- Your gender – Young male drivers are involved in more crashes and often pay higher rates due to their risk of being in accidents.
- Your marital status – Insurers consider marital status when calculating your premium. Typically, they offer lower rates to married individuals than to their single counterparts. This is due to the fact that studies find that accidents are more likely to involve single individuals.
- The value of your vehicle – The collision insurance costs often depend on your vehicle’s overall value. Since higher-value vehicles tend to cost more money to repair or replace, they usually have higher premiums. When vehicles are worth less, the premiums will reflect this.
- Where you live – Individuals in metropolitan areas with higher traffic volumes, such as San Antonio, are at greater risk of being in collisions. As a result, they are more likely to pay higher premiums for collision coverage than those in rural areas.
Like most types of automobile insurance, collision coverage has a deductible – an amount you must pay out of pocket before the insurance policy pays. The collision deductible usually ranges from $500 to $1,500. Selecting a lower deductible amount may result in a higher premium cost. It is important to understand that your deductible is something that you will have to pay upfront for repairs or to replace your vehicle after an accident, so you should select a price that is affordable.
Get Legal Help From Our Experienced Car Accident Lawyers in San Antonio
Trying to deal with the insurance company while recovering from your injuries can be overwhelming. You should seek help from a car accident lawyer in San Antonio right away. An attorney can help you understand your insurance coverage and the other driver’s liability policy limits if someone else is to blame for the crash.
Since 1992, attorney Troy A. Brookover has represented victims of car accidents in San Antonio, Texas, and throughout Bexar County. He and his team have helped injured people obtain family compensation, including six-digit and seven-digit awards for their claims. Troy Brookover is ready to put this experience to work on your behalf.
As a board-certified attorney in personal injury law, Troy Brookover has the knowledge, experience, and tenacity to stand up for accident victims – people just like you. If you are dealing with injuries from a car accident call us at (210) 226-2000 for a free, no-obligation consultation to discuss your legal options.
