Maryland’s auto insurance rates have risen 132% since 2005. Currently the average Maryland driver is paying $2,196 for their auto insurance policy. More increases are forth coming but customers should not fret. By educating yourself on the insurance buying process and comparing quotes from different companies in Maryland you can save a good amount of money. Even if you already have insurance and think you are getting a good deal it is not a bad idea to see what other insurers will quote you for your auto insurance. Our studies have concluded that drivers can save $451 just by comparing quotes and changing auto insurance companies.
Maryland Car Insurance Coverage Requirements
Maryland law prohibits driving without insurance. As such, the types of automobile insurance required are of two types, they are bodily injury liability(BI) and property damage liability(pd).
Bodily injury liability pays for the injuries you may have caused someone in a car accident. The minimum for bodily injury per person is $20,000 and the minimum for bodily injury per accident is $40,000.
Property damage liability insures you for the damages to another person’s property this could be to cover the cost of their vehicle or the cost of other property damaged as a result of your driving. Maryland law has set the minimum for property damage liability at $15,000.
Be aware that these are the bare minimum and it is widely recommended that you purchase enough liability insurance to adequately protect you from financial ruin. To get a better understanding of how these coverages and others work read Types of Coverages.
Have a Complaint Against a Maryland Automobile Insurance Company?
The Maryland Department of Insurance can assist you with any conflicts you may have with any insurance provide for which you have not solved among yourselves.
Maryland Insurance Admin.
525 Saint Paul Place
Baltimore, MD 21202-2272
Toll Free: 1-800-492-6116
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