Car Insurance in Maryland
If you have just moved to the state of Maryland or are a new driver, then it is necessary for you to understand the importance of car insurance in Maryland. To begin with, you need to understand what you are required to purchase and also what options you have.
Minimum Requirements for Car Insurance in Maryland
In order to legally operate a vehicle there are minimum requirements for car insurance in Maryland that you must meet. The following is a quick run down of the bare minimum requirements for a Maryland car insurance policy.
- Liability Coverage: You need liability coverage limits of 20/40/15.
- Uninsured/Underinsurance Motorists Coverage: Limits of 20/40/15 are required here as well.
- Personal Injury Protection (PIP): Minimum of $2,500 of this type of insurance.
The coverage limits of 20/40/15 mean $20,000 of bodily injury protection per accident per person, $40,000 bodily injury protection total per accident and $15,000 property damage per accident.
If you do not carry at least this minimum amount of car insurance in Maryland, you may have your license suspended and fines levied against you.
Types of Car Insurance in Maryland Policies
Here are the major types of Maryland car insurance policies.
- Liability: Provides coverage for others hurt in an accident that is considered your fault. Also, covers damage to others' property if you are the cause of an accident.
- Personal Injury Protection (PIP): Pays for the medical expenses, funeral expenses, and lost wages of you and passengers as a result of an accident.
- Uninsured/Underinsured Motorist: Provides coverage for you if you are involved in an accident with an uninsured or underinsured driver and the accident is deemed their fault.
- Collision: Pays for repairs, etc. to your vehicle if you are involved in an accident.
- Comprehensive: Provides additional coverage to your vehicle for issues such as vandalism, theft and a whole host of others depending upon how extensive of a policy you purchase. This may be required by your lender if purchasing a new car.
Where to Find Car Insurance in Maryland
It is incredibly easy to find car insurance in Maryland. There are plenty of Maryland car insurance companies to choose from and they all can be easily found in your local yellow pages or on the internet. This is good for you, as it allows you more opportunities to find the right policy at the best price.
Here is a short list of some of the most notable Maryland car insurance companies.
- Allstate
- GEICO
- Liberty Mutual
- Maryland Auto Insurance Fund (for those who cannot get private insurance)
- Nationwide
- Progressive
- State Farm
- The Hartford
When choosing a Maryland car insurance company, make sure that you feel comfortable with the agents and the company. Also, you will want a company with a long history, strong financial standing and good customer service.
Shopping for Car Insurance in Maryland
Because there are so many options available to you, it is important to shop around for the best rates on Maryland car insurance. Maryland car insurance companies do not fix their, rates, which means one company may offer you much cheaper auto insurance than another.
One of the easiest ways to shop for Maryland car insurance is to gather online quotes from multiple auto insurance companies. It is a good idea to start with about 5 car insurance quotes and begin comparing these quotes for the most coverage at the best price.
You will quickly find a fairly significant difference from one company to the next. This is a great way to quickly save money on Maryland car insurance.