Auto Insurance Coverage

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Auto insurance offers vital financial protection in the event of accidents, theft, or damage to your vehicle. It also includes liability coverage, which protects you if you’re responsible for injuries or property damage to others. Having the right auto insurance coverage is essential for compliance with Texas law and to shield yourself from hefty expenses following an accident. The Carranza Risk Management team is here to assist you in understanding how to insure your vehicle, allowing you to drive with confidence and peace of mind.

Liability Coverage

Liability coverage is designed to cover bodily injury and property damage you cause to others in an at-fault accident. This type of coverage is mandated by law in most states and helps protect you from expensive lawsuits or medical bills.

Collision Coverage

Collision coverage pays for damages to your vehicle resulting from a collision, whether it’s with another car or a stationary object, like a pole or guardrail, regardless of fault.

Comprehensive Coverage

Comprehensive coverage protects against damage to your car caused by non-collision events, including theft, vandalism, fire, hail, or falling objects. This coverage also encompasses damage to glass and windshields.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured motorist coverage safeguards you if you're involved in an accident with a driver who has no insurance or insufficient coverage. It also protects you in the event of hit-and-run accidents.

Medical Payments / Personal Injury Protection (PIP)

PIP covers medical expenses for you and your passengers after an accident, regardless of who is at fault. Depending on the state, it may also include compensation for lost wages and rehabilitation costs.

Roadside Assistance

Roadside assistance offers help when you’re stranded, whether due to a flat tire, dead battery, lockout, or towing after a breakdown.

Rental Reimbursement

Rental reimbursement covers the cost of a rental car while your vehicle is being repaired after a covered claim, ensuring you’re not left without transportation.

Optional Coverages & Endorsements - Customize your auto policy for added peace of mind:

• Gap Insurance – Pays the difference between your loan/lease balance and the actual cash value of your totaled car.
• Custom Equipment Coverage – Covers aftermarket modifications like rims, sound systems, or specialty paint jobs.
• Rideshare Coverage – Fills coverage gaps if you drive for Uber, Lyft, or another delivery/rideshare service.
• New Car Replacement – Replaces your vehicle with a brand-new one (not just the depreciated value) if totaled within a specific timeframe.
• OEM Parts Coverage – Ensures that repairs utilize original manufacturer parts instead of aftermarket alternatives.