Maryland Car Insurance
Maryland has some of the most stringent auto insurance laws in the United States. To drive legally in Maryland, drivers are obligated to carry bodily injury liability, property damage liability, Uninsured/Underinsured Motorist (“UIM”) bodily injury liability, UIM property damage, and Personal Injury Protection (“PIP”) coverage.
The minimum bodily injury liability coverage in Maryland is $20,000 for one person, $40,000 for all parties in an accident. For property damage liability, Maryland requires drivers to have $15,000 of minimum coverage. These required coverage amounts could be grossly insufficient in the event of a serious accident. Damages resulting from an auto accident can total hundreds of thousands of dollars. Maryland drivers are well advised to purchase optional higher coverage amounts.
UIM coverage, which is also required in Maryland, pays damages in the event the driver at fault for an accident is uninsured or does not have enough insurance to pay for the damages sustained by the other driver(s) or passengers. The minimum limits for UIM bodily injury liability coverage in Maryland is $20,000 for one person, $40,000 for the accident. The minimum UIM property damage limits in Maryland are $15,000 in coverage. These coverage amounts can be more simply stated as 20/40/15.
An example of when a driver could make a UIM claim would be if a driver in an accident in Maryland had the minimum 20/40/15 UIM coverage, and the driver at fault for the accident was uninsured or did not have enough insurance they would be able make a UIM claim with their auto insurance company. For their UIM claim, the insured would be able to receive up to $20,000 for their own bodily injury damages. Their insurance company would pay up to $40,000 for all UIM bodily injury claims in the accident. The insured would also be able to receive up to $15,000 for property damage caused by the uninsured or underinsured at fault driver.
PIP insurance in no fault coverage that pays for medical bills and lost wages for a driver and their passengers following an accident up to the PIP limits. In Maryland, the minimum amount of PIP coverage is $2,500. PIP is the primary form of medical insurance coverage following an auto accident.
Collision and Comprehensive Coverage
Other important available insurance coverage types in Maryland include Collision and Comprehensive coverage. These coverage types are not required by law but can be very important in the event of an accident. Many financial institutions require vehicle owners to purchase collision and comprehensive coverage as a condition of their loan. These coverage types can be discontinued once a car is paid off or for an older car.
Keep Your Car Insurance Current
Maryland drivers should never allow their auto insurance policies to lapse. Each day, thousands of Maryland drivers are involved in car accidents. Uninsured drivers in Maryland pay fines and may be forced to comply with state financial responsibility laws, which require them to purchase expensive SR–22 Insurance. They can also be held personally responsible for all damages caused in an accident, which can be hundreds of thousands of dollars in damages. Driving in Maryland without car insurance is fiscally reckless and can lead to financial ruin.
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Drivers in Maryland have more than a dozen auto insurance companies to choose from. National insurers such as Progressive, Nationwide, Geico, and the Hartford all sell auto insurance in Maryland. Whether you live in Baltimore, Bethesda, College Park, or Annapolis, use BestCarInsuranceCompanies.net to get low cost Maryland auto insurance. Just enter your zip code above to get started and you could be on your way to saving hundreds of dollars a year on your car insurance.