Legal Question in Personal Injury in Texas
Do insurance company policy limits for liability usually have odd figures? For example, I was extended an offer of $25,060.00 as the limits to the other drivers liability policy.
Asked on 2/06/10, 4:33 pm
1 Answer from Attorneys
Dan Street
Street Law Firm
"County Mutuals" started out as local, smaller insurance companies years ago (some of them are still small, but many are now mega-insurance companies) and they traditionally have paid policy-limits-plus-premium, which really means very little these days but always results in an odd amount being added to the policy limit (usually $25.00 to $60.00 or so). The minimum liability limit in Texas is now $25,000.00 (up from $20,000.00) as of April 1, 2008, and is scheduled to increase to $30,000.00 in 2011.
Answered on 2/11/10, 5:01 pm
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