The state of Maryland requires that all drivers have an insurance policy from a company licensed to provide insurance in the state. In Laurel, you’ll find plenty of options, and it’s your job to shop around and get the policy that works best for you. Before getting quotes, you’ll need to decide how much coverage you want.
Maryland’s auto coverage requirements are that you have at least $30,000 of bodily injury liability insurance per person, or $60,000 for an accident with two or more people, and $15,000 of property damage liability insurance. Although Maryland minimum auto coverage requirements are higher than those in many other states, you still may want to consider purchasing more than the minimum. This is because you could be held financially liable for damages beyond your coverage limits.
For example, the minimum property damage you have to carry on your insurance policy is $15,000. However, if you cause an accident in which a vehicle that costs $25,000 to replace is totaled, you’ll be held financially responsible for the $10,000 of damage above your coverage. People who own a home in Laurel or have other significant assets may want to purchase closer to $100,000 of bodily injury liability per person, $300,000 per accident, and $50,000 of property damage liability to protect their assets.
In addition to liability insurance, you must carry uninsured motorist coverage at the same limits as your liability. You can also opt for personal injury protection coverage, which pays medical costs for you and your passengers if you’re injured, and comprehensive and collision coverage to pay for damages to your vehicle.
Call your local insurance agent in Laurel today to ask any more questions about what you need to know to purchase the best insurance policy for your needs.