Bogged Down Bugatti Raises Auto Insurance Questions in Lubbock, Fort Worth, and other Texas Cities

As a leading independent insurance agency in Texas, Texas American Insurers makes a point to stay informed of the latest developments with regard to issues that can affect auto insurance in our state. End Quote

Fort Worth-Arlington, TX (1888PressRelease) December 16, 2011 - One of the biggest new stories in the state of Texas right now is about a $1.2 million Bugatti that was submerged in Galveston Bay. The owner claims that the swerve and subsequent dunking were accidental, while bystander video disputes that claim and seems to indicate that there was no swerve-or pelican-at all. At issue is that the car was insured by a collector's vehicle policy, so the owner is trying to collect twice the amount that was paid for the car.

Insurance companies do have policies and rules that apply to special cars, including those that are considered collector's editions, such as this particular Bugatti. But the terms of insuring a collector's vehicle vary greatly from a car one would insure for everyday use. In fact, everyday use would negate such coverage, as it specifically limits the amount of driving one can do while carrying that type of coverage. Typically, the acceptable mileage is associated with the distance one would travel to attend car displays, parades, and such.

The state of Texas requires motorists to carry liability insurance on their vehicles, but the majority of drivers in cities such as Lubbock and Fort Worth will not be insuring a million-dollar car or a collector's edition vehicle. The minimum amount of liability insurance required by the state is 30/60/25, and even comprehensive coverage obtained beyond the state minimums will not insure a car for more than it's actually worth.

Texas American Insurers offers competitive rates on auto insurance. To shop for insurance or compare insurance premiums, contact Texas American Insurers in Lubbock, Dallas/Fort Worth, Cedar Hill, or Mansfield so that you can make sure that you have the required amount of liability auto insurance, as well as evaluate other insurance needs you may have to ensure that you are carrying the appropriate amount of coverage.

About Texas American Insurers: Texas American Insurers is an independent insurance agency serving the state of Texas with offices in Dallas/Fort Worth, Lubbock, Cedar Hill, and Mansfield. Texas American Insurers specializes in homeowners, auto, commercial, life, health, motorcycle insurance, and financial services. We also offer excellent plans and rates for your church, contractor, medical malpractice, CRNAs, and Workers Compensation insurance. Contact us for a free quote for auto insurance today by calling (817) 877-3101 or visit us on the web at http://www.txam.com/

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Company: TEXAS AMERICAN INSURERS
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