Maryland Car Insurance-What You Need to Know

2007-03-08 10:33:40

( Insurance )



Auto insurance in Maryland is required by law. If you drive or own a vehicle in Maryland, you have to make sure you buy the required minimum liability coverage. Maryland car insurance laws also require a minimum purchase for personal injury protection for each person named in the policy.

In addition to these minimums, Maryland auto insurance regulations want you to set up enough coverage for accidents that may involve uninsured or underinsured motorists. The mandated coverage is similar to personal minimums. You can get the figures for these minimum levels from the Web site of the Maryland state department of insurance.

These are minimums established by Maryland car insurance authorities. Your protection needs will probably compel you to buy more coverage than the minimum. If you can afford it, you should have enough coverage to protect all the assets that you cannot afford to lose. Losses and injury claims from a car accident can run to several millions of dollars, and any amounts not covered by your insurance will be levied against your personal savings, investments and other assets.

When you buy your auto insurance in Maryland you have more than 40 car insurance companies to choose from. It pays to shop around for auto insurance, yet only one-third of car owners do that, according to financial experts. Most companies offer discounts which, if you can use them effectively, may combine to reduce your insurance cost by almost 50 percent.

Should you be unable to obtain insurance from private Maryland car insurance companies, you can get coverage from the Maryland Auto Insurance Fund – a state-run insurance pool. Don’t worry if for one year you got insurance from the Maryland Auto Insurance Fund. State law prohibits insurers from denying insurance to you for the sole reason that your insurance record shows previous coverage from the Maryland Auto Insurance Fund.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.