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Texas auto insurer of last resort proposes rate hikes

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Texas auto insurer of last resort proposes rate hikes

The Texas Automobile Insurance Plan Association proposed an estimated overall average rate increase of 4.9% for private-passenger cars and 4.8% for commercial vehicles.

For private passenger cars, TAIPA proposed a 5% rate increase for bodily injury liability, 4.9% increase for property damage liability, 4% increase for personal injury protection, 4.3% for uninsured motorist bodily injury and 1.7% for uninsured motorist property damage coverage.

The company also proposed a total rate increase of 4.8% for bodily injury liability, 5% for property damage liability, 1.3% for personal injury protection, 3.6% for uninsured motorist bodily injury and 3.2% for uninsured motorist property damage coverage for commercial vehicles.

As the last-resort auto insurer in Texas, TAIPA insures about 0.01% of the insured private-passenger cars in the state.