More Incentive to Stay Out of Texas’s High-Risk Pool
It has always been a good idea to drive safely and avoid accidents in Texas, but now vehicle owners have a little extra incentive. In April 2012, the state commissioner of insurance issued an order saying that rates for the state’s high-risk insurance pool will rise by 24.1 percent overall.
Effective on July 1, the price of bodily injury liability issued through the state-run pool will increase by 31.9 percent, and property damage liability will increase by 20 percent. Once these changes take place, the average base rate for a policy through the program that provides only bare-bones liability coverages will be $578 (but they can range from just under $300 to nearly $2,500).
