Rates charged for private passenger automobile insurance provided through the Texas Automobile Insurance Plan Association (TAIPA) will increase overall by 5.6 percent, the Texas Department of Insurance reports.
New rates for TAIPA private passenger and commercial automobile insurance will be effective on or after Oct. 1, 2013, for new and renewal business.
Rates for bodily injury and property damage liability will increase by 6.4 percent and 5.3 percent, respectively. Personal injury protection and uninsured/underinsured motorist coverage rates will not change.
The rates for commercial automobile insurance provided through TAIPA will reflect the most recently accepted ISO loss costs and classification factors.
Source: Texas Department of Insurance
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