Vehicle owners in most cities and states in the United States must carry certain amounts and types of car insurance. Statistics released by the Department of Transportation in Texas show that in 2019 alone, El Paso recorded over 16,000 car accidents, which makes it one of the top cities for automotive accidents in the state.
El Paso has made it mandatory for all drivers to possess car insurance in El Paso TX. On average, residents in the city pay about $1400 annually for full coverage and $550 annually for minimum coverage.
Residents can choose between different insurance providers to find auto insurance in El Paso, TX, with a premium and coverage that suits their needs. If you’re having a hard time making a choice, here are a few things you should know about car insurance in El Paso.
Insurance requirements in El Paso
Drivers in Texas have to purchase minimum auto insurance coverages to drive legally. These minimums are $25,000 property damage liability, $60,000 bodily injury liability per accident, and $30,000 bodily injury liability per individual.
While minimum coverage allows you to pay lower premiums, it may also leave you with high out-of-pocket expenses in the event of an accident.
Difference between full coverage and liability (minimum) coverage insurance
Full coverage covers all damage done to another party’s vehicle in the event of an accident, as well as their medical expenses. It also covers damage done to your car and your own medical expenses. Full coverage also offers reimbursement for non-collision incidents like vandalism and theft.
On the other hand, liability coverage only covers damage one does to another party in the event of an automotive accident. This means that if you’re involved in an accident where both you and the other party are injured, your car insurance will only cover the other party’s medical costs and vehicle damages if you are at fault.
Factors that influence insurance rates in El Paso
When drafting quotes, auto insurance companies examine various factors. These include:
Credit Score
In most cases, an individual’s credit score correlates to their auto insurance premiums. Drivers with exceptional credit can save roughly 60% on car insurance costs. However, even fair credit can help you save on car insurance costs.
Driving Record
A good driving record effectively lowers your premium rates for auto insurance in El Paso. Speeding tickets, citations for reckless driving, at-fault accidents, and DUIs can increase your insurance costs, which is why you should try to maintain a good driving record.
Gender and Marital Status
While married people pay less for auto insurance in other areas compared to single people, both single and married individuals have the same car insurance in El Paso, TX. Widowed individuals usually get more affordable premiums than single drivers in El Paso. With regard to gender, men pay about $21 more than women in annual auto insurance premiums in El Paso.
Age
Teenage drivers pay the most for auto insurance in El Paso, which drops when they get to their 20s. Drivers aged 50 and above tend to enjoy the city’s most affordable car insurance rates.
What else should you know about car insurance in El Paso?
Drivers in El Paso are required by law to carry proof of insurance in their cars at all times. They are also required to provide proof of it in certain situations. These include when involved in an accident, when renewing vehicle registration and when a law enforcement officer requests it.
Auto insurance can be complex; that’s why Bundle Bee Insurance Agency welcomes your questions. Contact us today if you need help securing auto insurance in El Paso.
