Why America’s Rising Car Prices Mean You Need Higher Liability Limits
In September, the average new car price in America crossed $50,000. This record-breaking benchmark has major implications for drivers and their insurance coverage. While many people focus on their own vehicle’s value, far fewer stop to consider what happens if they cause damage to someone else’s car. With higher-priced vehicles on the road, the risk of being underinsured is increasing.
That’s why our team at Trusted Insurance Partners LLC, based in Plano, TX, is encouraging drivers to take a closer look at their auto insurance liability limits this year.
Why Rising Car Prices Matter for Your Insurance
A decade ago, the state minimum property damage coverage might have felt sufficient. But today, with luxury cars, electric vehicles, and mid-size SUVs routinely topping $50,000 in areas like West Plano and North Dallas, your existing limits may no longer be enough.
If you cause an accident and your liability limit doesn’t fully cover the damage, you could be responsible for the remaining balance out of pocket. That’s a financial hit most drivers aren’t prepared to face.
At a top insurance agency like TIP, we regularly review how rising vehicle costs impact your coverage needs, especially property damage exposure.
Why Higher Liability Limits Are Worth It
Updating your auto insurance isn’t just a smart move, it’s essential protection. Increasing your liability limits can protect you from:
- The rapidly rising cost to repair or replace new vehicles
- Higher-priced electric cars and luxury models
- Multi-vehicle accidents
- Out-of-pocket payments when damages exceed old coverage levels
Our best insurance agents will tell you: liability limits are one of the most affordable upgrades you can make and they offer some of the biggest financial protection.
A Coverage Check That Protects More Than Just Your Car
When you meet with Trusted Insurance Partners LLC you can also review other important policies your family may need, such as:
- Renter’s Insurance
- Life Insurance
- Commercial Insurance
- Best Home Insurance Options
Life changes quickly, and having the right coverage ensures your protection keeps up.
TIP helps families and businesses make confident choices, whether they need Auto Insurance, Life Insurance, or Renter’s Insurance that truly fits their needs and lifestyle. Our Commercial Insurance coverage is available for clients nationwide.
We’re Here to Help You Stay Protected
Communities like West Plano, Legacy, and Historic Downtown Plano continue to see more luxury and high-end vehicles on the road. As these values rise, so does the cost of accidents.
Even careful drivers can’t control unexpected events, but they can control whether they’re protected.
If you’re looking for the best insurance agency or the best insurance agent our team is ready to guide you. Whether you need Auto, Life, Home, Renter’s, or Commercial Insurance, TIP offers personalized support that makes insurance easy to understand.
Contact us today to review your liability limits and explore the best options. Protect yourself before you need it, your future self will thank you.