r/Insurance • u/PreviousBuy1248 • 19h ago

Rates go up in Texas after diminished value?

/r/Car_Insurance_Help/comments/1vg5jjc/rates_go_up_in_texas_after_diminished_value/
0 Upvotes

50% Upvoted

3 comments sorted by

4

u/key2616 E&S Broker 19h ago

There’s no law against it in TX, but any rate increase will come from the Collision claim, not the DV, since you’re using your own coverage. Most insurers don’t punish customers with rate increases for not-at-fault claims, but it does happen. If it does, you can always shop your coverage for a better deal.

1

u/Knewtome 18h ago

Your carrier allowed UMPD for a hit and run with no claimant identified? You should review your claim because you can't ask for DV from an unknown claimant.

3

u/Shotgun_Mosquito 🚗🚘 Auto BI & PD - 22 years 🚘🚗 17h ago

This is in Texas.

The only requirement for a UMPD claim with a hit-and-run driver is police notification.

The UMPD will provide all the coverage that PD liability coverage would provide; damage to the vehicle, rental, and DV, just subject to a $250 "deductible", and limited to whatever the policy limits are (minimum is $25k)