Form VTR-331-INS. Insurance Company Statement of Fact

The VTR-331-INS, also known as the Insurance Company Statement of Fact, is a document regulated by the Texas Department of Motor Vehicles (DMV). It serves as a crucial component in the process of obtaining and maintaining auto insurance coverage within the state of Texas.

The purpose of this form is to provide accurate and up-to-date information regarding an individual's insurance policy. It requires input from the insurance company, which must complete the statement of fact with precise details about the insurance coverage for a specific vehicle or vehicles.

The VTR-331-INS captures various essential pieces of information related to the insurance policy. These include the policyholder's name, contact details, and driver's license number, along with the vehicle identification number (VIN) and other relevant details of the insured vehicle(s).

By completing this form, insurance companies affirm the existence and details of an active insurance policy that meets the minimum requirements set forth by the Texas DMV. The statement of fact provides verification that the vehicle(s) listed on the form are adequately insured against potential liability, ensuring compliance with state laws and regulations.

Moreover, the VTR-331-INS may be required during various situations, such as when registering a new vehicle, transferring ownership, renewing vehicle registration, or responding to specific requests from the DMV. It serves as evidence of financial responsibility, confirming that the policyholder has obtained the necessary coverage to protect themselves and others in the event of an accident or other covered events.

Overall, the VTR-331-INS plays a crucial role in facilitating communication and coordination between individuals, insurance companies, and the Texas DMV. It ensures transparency, compliance, and accountability while promoting responsible vehicle ownership and safe driving practices within the state.