Benefits of Full Coverage vs. State Minimums

Benefits of Full Coverage vs. State Minimums

When you purchase auto insurance in the state of Maryland, the state provides minimum requirements. Mid Atlantic Insurance Financial wants you to understand why sticking with those though, does not provide you with the full coverage you need to protect your vehicle.

In Maryland, you must purchase liability insurance to legally operate your vehicle on public roads. The minimum insurance includes:

  • bodily injury coverage per person in the amount of $30,000,
  • bodily injury coverage per accident in the amount of $60,000,
  • property damage coverage per accident in the amount of $15,000.

Any accident in Laurel MD probably damaged both vehicles, but the state-required insurance only protects the other person’s vehicles and only pays for their injuries. You would need to pay out of pocket for all the repairs to your own vehicle plus your medical bills if you caused the accident. If police find you at fault for the accident, your insurance pays for the other people involved.

You can purchase collision insurance to cover the damage to your own vehicle. Even if you become involved in a single-car accident, this coverage pays for vehicle repairs. Similarly, if you were minding your own business when a tree fell on your car, comprehensive coverage pays for the damage. The combination of collision and comprehensive protects you against virtually every incident that can damage your vehicle, including deer running out in front of it.

Purchasing personal injury protection provides you with medical coverage regardless of who caused the accident. It covers your passengers, too. This works with any health insurance you have to cover all of your medical bills.

Contact Mid Atlantic Insurance Financial serving Laurel, MD to talk about full coverage auto insurance for your vehicle. We can help protect your financial future and provide you the insurance to pay for medical bills and car repairs if you get into an accident.

3 essential questions to ask yourself before getting auto insurance

While consumer needs change frequently, it’s always a prudent idea to assess your needs before buying anything in Laurel, MD, including insurance. Car insurance plays a critical role in keeping you financially responsible in case of an accident. At Mid Atlantic Insurance Financial, we recommend reviewing your car insurance policy annually to ensure it is up to date with your current lifestyle and budget. With that said, here are three questions to ask yourself when buying car insurance.

How often do you drive?

If you need to use your car every day–to drive to work, take the kids to school, buy groceries or tour the world, you will need to know how many miles you use every month to reflect on your policy. How often you use your vehicle also determines your risk of getting into an accident. If you’re always on the roads, you’re at a higher risk compared to a person who only uses their car during weekends. 

Who else will be driving your vehicle?

When buying car insurance for the first time, it’s always critical to think about other people who may use the car either as drivers or passengers. Both parties are covered in your policy, but your insurance company may need you to list the names of people allowed to drive your car. Remember, if you are listing teenagers who will be driving your car often, your insurance rates will likely go up.

What type of car are you driving?

The type of car you drive heavily affects your insurance costs in many ways. For instance, vehicles with fewer safety features are considered riskier than those with many safety features. Expensive cars are also at risk of getting stolen as they attract massive attention.

Buying auto insurance for the first time in Laurel, MD? Feel free to contact us at Mid Atlantic Insurance Financial and get yourself a customized policy that matches your insurance needs and budget.

Who needs auto insurance in Maryland?

When you are in the Laurel, MD area, it will be important for you to have a vehicle so you can get around the community. Along with purchasing a vehicle, you also need to get into the right insurance plan. This means having an auto insurance plan that is right for your situation. There are a couple of situations when you will need to have auto insurance here. 

When Driving on a Public Road

A situation when you will want insurance protection for your vehicle here is when you are going to drive on a roadway. Those that want to operate a car on a road need to make sure they comply with the state law, which includes having liability insurance coverage. If you neglect to carry this coverage and are caught driving without it, you can face some serious penalties. 

When Taking Out a Loan

You also will need auto insurance coverage in place when you look to take out a loan. Financing a vehicle with a loan can provide you with the capital you need to purchase a car. However, it does come with some requirements. Most lenders will want you to carry collision and comprehensive protection until the loan is paid off as it will protect their collateral. 

Having an auto insurance plan is always necessary if you are in the Laurel, MD area. When you are looking for an auto insurance plan in this area, calling Mid Atlantic Insurance Financial can be a great option. There are a lot of choices to make when picking an insurance plan and Mid Atlantic Insurance Financial can help you determine the type of plan that is right for your situation. With this support, you can ensure you are properly covered at all times. 

Who needs auto insurance in Maryland?

The Laurel, MD area continues to be a great place to live in. When you are living in this area of the state, it would be a good idea to own a car as it will make it a lot easier to get around town. Those that do decide to buy a car need to make sure that they have it properly insured. There are many scenarios in which having an auto insurance plan will be a necessity. 

Those with Loan

A common situation when someone is going to need to get an auto insurance plan is when they are going to take out a loan. If you have taken out a loan to buy a car, it may make it more affordable but you will have insurance requirements. An auto lender will want you to have full auto insurance coverage at all times as it will help to protect your vehicle.

Those that Drive in State

You will also need to have an auto insurance plan when you want to drive a car on a public road. When you receive an auto insurance plan, it will include liability protection. This coverage means that you will have the ability to pay for damages that you cause during an accident. Due to the value of this protection, the state of Maryland requires all drivers to maintain auto insurance at all times.

If you would like to get an auto insurance plan and you are in the Laurel, MD area, it would be a good idea for you to call Mid Atlantic Insurance Financial. The team with Mid Atlantic Insurance Financial understands the value that comes with auto insurance. They can help by assessing your needs and giving you the support needed to choose a new plan. 

Benefits of having auto insurance in Maryland?

When you are a resident of the Laurel, MD area, owning a car can make life much easier. Those that have a car will be able to get around town quickly and can be more efficient overall. If you do want to get a car here, you also need to get the right insurance for it. There are many benefits that are received when you get an auto insurance plan.

Insurance Offers Valuable Coverage and Protection

A reason that anyone should get an auto insurance plan is that it can protect you in many ways. With an auto insurance plan, you are going to receive coverage that is needed to repair or replace your vehicle. This could be helpful if your car is stolen or in an accident. Additionally, your auto insurance can give you the coverage that is needed if you are sued for liability following an accident.

Insurance Ensures Legal Compliance

You will also benefit from having auto insurance because it can ensure you stay in legal compliance. Anyone that would like to get a car should know that they are required to maintain auto insurance whenever they drive on the road. The state of Maryland requires that all drivers carry liability auto insurance as it ensures that everyone can pay for damages they may cause in an accident. 

If you are in the Laurel, MD area, there continue to be many benefits that come with having auto insurance. When you are in the market for your next plan, it would be a good idea to call Mid Atlantic Insurance Financial. The insurance team with Mid Atlantic Insurance Financial understands the importance of having this coverage. They can help you to assess your needs and find a policy that is ideal for you based on your unique situation. 

The three main types of auto insurance available in Maryland

Doing your research and informing yourself is an essential part of meeting your auto insurance needs. We can help you learn about all your auto insurance options at Mid Atlantic Insurance Financial.

The following are the three main types of auto insurance you should be aware of when you’re looking for a policy in Laurel, MD.

Liability coverage

Liability coverage is the most basic type of auto insurance coverage. Liability coverage is required by law in almost all states.

Liability coverage pays for damages the policyholder causes to the properties of others. Liability coverage also covers medical costs that the policyholder causes. 

You’ll need to purchase liability coverage as a basic part of your auto insurance policy to meet legal requirements in Maryland. 

Collision coverage

Collision coverage protects the policyholder against damages to his or her own vehicle. Without collision coverage, you may find yourself having to pay out of pocket for damages to your own vehicle in an accident. Investing in collision coverage gives you greater peace of mind and helps bring down the chances that you’ll suffer the loss of your vehicle in an accident without being compensated. 

Comprehensive coverage

Although collision coverage protects you against damages to your own vehicle resulting from an accident, there are certain potential causes of damage that won’t be covered under collision coverage. For example, collision coverage typically won’t cover damage caused by fire or theft. 

Comprehensive coverage provides coverage for numerous additional types of damage including damage from fire, theft, vandalism, and more. 

If you’d like to learn more about auto insurance options in Laurel, MD, let us know at Mid Atlantic Insurance Financial. We can answer your auto insurance questions and provide you with helpful information to best meet your auto insurance coverage needs. 

What are the benefits of auto insurance?

For people that are in the Laurel, MD area, owning a car is a good idea as it will make it much easier for you to get around town and complete your daily tasks. If you do purchase a car, you need to make sure that you get proper insurance. There are several benefits that come when you receive a full auto insurance policy. 

Ensures Legal Compliance

Another benefit of getting auto insurance is that it will ensure legal compliance. Those that want to drive a car here are going to consistently take on the risk that they could cause an accident. Due to this, the state wants to ensure that all drivers have the ability to pay for any damages that they cause. Drivers are required by law to carry full collision and comprehensive insurance policies at all times. 

Covers Vehicle

Another reason to get an auto insurance policy here is that it can cover your vehicle. If you do drive a vehicle here, you will want to make sure that your asset is protected against any risk that could result in a loss. With a full collision and comprehensive insurance policy, you can receive this coverage and protection as it will protect against the risk of damage, theft, or a variety of other losses that could occur. 

Anyone that is in the Laurel, MD area should reach out to Mid Atlantic Insurance Financial when they are looking for a new auto insurance policy. Picking auto insurance is not easy and it is a very big decision. When you call Mid Atlantic Insurance Financial, you are going to receive personalized support and care that you need to choose a policy. This can help to ensure that you are properly covered at all times. 

The Questions To Ask Your Insurance Agent When Buying Auto Insurance

Purchasing auto insurance may be a challenging experience. Thankfully, you have a good and reliable source of information  – your insurance agent. They are able to answer the questions to help you to get the perfect coverage that will protect you as a driver and your vehicle. Mid Atlantic Insurance Financial serving Laurel, MD has prepared the list of questions you should ask your agent before getting a certain policy: 

What coverage do I need? 

Since every situation is different, the insurance needs are different as well. There are following auto insurance coverages that are available: comprehensive, collision, personal injury, and uninsured and underinsured motorist protection. In order to decide what coverage you need, you should talk to your insurance agent. 

Are there any discounts am I eligible for?

It is important to ask your insurance agent about the available discounts. There are plenty of discounts you may be able to get,  including good student, safe driver, paid-in-full, safety features, and others. 

What is my deductible?

A deductible is an amount you will have to pay out of pocket before your insurance policy starts to pay. The higher the deductible is, the lower cost of insurance. Ask your insurance agents about deductible options and pick the one that is the most affordable for you. 

What will be covered in case of an accident?

Always get the specifics on what happens if you are involved in a car accident. Do not forget to aks such questions as "What if the other driver or other people are injured?", "What does exactly my policy cover?", "What will happen if someone hits me?" and other questions. 

If you are currently shopping for auto insurance and have questions to ask, do not hesitate to contact Mid Atlantic Insurance Financial serving Laurel, MD, and talk to one of its agents, who will be able to provide all the information you need.

Common Myths About Auto Insurance

Getting insurance for your car is a complicated and sometimes confusing process: you have to decide how much coverage you need, compare quotes and companies, and choose a deductible. In addition, there are myths about auto insurance that have nothing in common with reality. In order to help you, Mid Atlantic Insurance Financial serving Laurel, MD decided to break down and debunk some of them: 

Myth 1: It is enough to set your car to the state minimum

You may think that getting a minimum coverage set by the state is more than enough. In reality, setting your vehicle at the bare minimum will leave you completely unprotected. In case of an expensive accident, you might be responsible for paying a lot out of pocket because the state minimum will barely cover anything. 

Myth 2: Your credit does not affect insurance costs

The cost of your auto insurance depends on many factors, including your age, history of making claims, driving history, and your credit. People with higher credit scores tend to have fewer accidents, so insurance will be cheaper for them. 

Myth 3: The color of your car affects the insurance rates

Many people mistakenly believe it is more expensive to insure red cars. It might be because many sports cars come in red, or because red cars’ owners are believed to be fast and aggressive drivers. But whatever the case, it is just a myth, and the color of your vehicle does not have an impact on the cost of insurance.

Now that you know more facts about auto insurance, it will be easier for you to make the right and informed decision. If you need help in finding the best insurance plan based on your budget and needs, Mid Atlantic Insurance Financial serving Laurel, MD is ready to assist you. Give us a call today to get more information about the options available. 

Understanding Uninsured Motorist Coverage with Auto Insurance

Getting into a car accident is something that no one ever looks forward to. A car accident can result in damage to your vehicle, injuries, and more. It is a miserable experience you do not wish for anyone. Thankfully, you usually will have auto insurance coverage there to help make you whole and get back to normal. What happens, though, when the at-fault driver does not have auto insurance?

The coverage that you need to be sure you have with your auto insurance policy is known as uninsured motorist coverage. The value of uninsured motorist coverage is that you are going to be able to file a claim with your insurance company where you are not at fault, but you can still recover.

Say you get into an auto insurance accident and you are not liable for the accident in any way. The first thing that happens is you file the claim and it is determined the other driver is at fault. Your insurance company will then try to recover those losses from his or her insurance company. If they do not have auto insurance, there is no other auto insurance company to recover from. This is where uninsured motorist coverage will come into play.

When your insurance company cannot get reimbursed for your losses, which you are not at fault for, they will payout for those losses to you under the uninsured motorist coverage. This can protect you in the event of this scenario. With so many folks driving without insurance in Laurel, MD, and other parts of the United States, uninsured motorist coverage is a must. Work with the Mid Atlantic Insurance Financial team today to make sure it is part of your auto insurance coverage.