Personal Injury Attorney
Like it or not, insurance companies have an important place in our finances. Regarding auto insurance, there are actually some states where any person that owns a car must also have the insurance to go along with it. Meaning, that in order to legally drive, you must also have coverage. If for any reason you are caught without it, you will be fined for not having insurance. The idea behind this policy is that for cities and states with high auto accident-related fatality and injury rates, if an individual happens to be a victim or perpetrator of an auto accident, then at least the injured person will be covered and will not be stuck with a bill that cannot be paid. What this means for lower income families, however, is that they will somehow have to continuously find money they don’t have to pay a bill for a service they do not know if they will ever even need.
The price on premiums vary from company to company as well as state to state, but for the state of Texas, law firms are anticipating an upcoming legislative bill to cause auto insurance to become much more expensive. An online petition opposing the bill has already received more than 2,000 signatures. Texan personal injury law firms are continuing their efforts to gather public support to try to stop it from passing.
In summary, the bill in question will result in trucking companies no longer being held liable in court should they end up involved in an accident with a non-commercial vehicle. While this is already an undesirable condition to most people, what people are dreading even more are the unintended consequences — increased insurance rates.
Truck Drivers Should Be Held Accountable
Similar to when a company’s stocks go up when it does well, the overall cost of auto insurance across companies goes up when they anticipate things will not go well. More specifically, the idea that no longer being held liable in truck accidents will be an incentive for truck drivers to be lackadaisical in their driving. This means more accidents, more medical bills, and more payouts to cover those bills. As a result of this undesirable future they envision coming, they will likely raise the price of insurance so they can make these payouts (and protect their financial assets). Since Texas requires all motorists to carry proof of insurance while behind the wheel, this can put an even greater strain on lower-income families, especially those that are already strained by the aftereffects of the pandemic.