Tips to Purchas MD Auto Insurance
Residents of the state of Maryland who are searching for quotes on MD auto insurance need to have a general understanding of required coverage for the state where they live. Each state in the USA requires that drivers maintain minimum liability coverage in order to operate their car. Requirements and limits are set by the individual states, so the requirements for Maryland may be very different than those for California. Having an understanding of exactly what your state requires can help you to make wise choices when you purchase insurance. The following information can help you to understand the important factors in choosing your MD auto insurance.
Personal Injury Protection (PIP)
Maryland is regarded as a no-fault insurance state. Residents are required to have PIP insurance. PIP coverage will meet your medical expense needs, funeral costs and your lost wages up to the limit that is stated on the auto policy, regardless of who is found to be at fault. This coverage is not required in most other states where it is considered Medical payments coverage. There are some important differences offered by PIP insurance. If you have questions, be sure that you speak with your insurance agent.
Liability Insurance
Every state does require that drivers carry liability insurance. This coverage pays for injuries and property damage that are suffered by passengers in another vehicle if you are found to be at fault. The minimum amount of liability when purchasing MD auto insurance are 20/40/15. These limits are in thousands of dollars. The first two numbers have to do with limits paid on injuries and the last is the limit paid for property damage. Many drivers find that it is a worthwhile investment to have several times the state minimum to protect their financial security and prevent the loss of personal assets if they are found to be at fault in an accident.
Uninsured Motorist
Unfortunately, many drivers do not follow the minimum insurance laws. Thus, Uninsured motorist insurance (UM) is a requirement of the state. This insurance will have the same limits as your own liability policy. With this coverage, your losses will be covered even if the other driver does not have insurance. The coverage also comes into effect if your losses are greater than the insurance coverage of an underinsured driver.
While many other types of auto insurance are available in Maryland, these types are the ones required by state law. In addition, if your vehicle is financed, the lender may require that you have full coverage insurance. For an additional premium, you can purchase protection for physical damage, collision and comprehensive coverage. Purchase of an insurance policy can give you peace of mind as you operate your motor vehicle.
Personal Injury Protection (PIP)
Maryland is regarded as a no-fault insurance state. Residents are required to have PIP insurance. PIP coverage will meet your medical expense needs, funeral costs and your lost wages up to the limit that is stated on the auto policy, regardless of who is found to be at fault. This coverage is not required in most other states where it is considered Medical payments coverage. There are some important differences offered by PIP insurance. If you have questions, be sure that you speak with your insurance agent.
Liability Insurance
Every state does require that drivers carry liability insurance. This coverage pays for injuries and property damage that are suffered by passengers in another vehicle if you are found to be at fault. The minimum amount of liability when purchasing MD auto insurance are 20/40/15. These limits are in thousands of dollars. The first two numbers have to do with limits paid on injuries and the last is the limit paid for property damage. Many drivers find that it is a worthwhile investment to have several times the state minimum to protect their financial security and prevent the loss of personal assets if they are found to be at fault in an accident.
Uninsured Motorist
Unfortunately, many drivers do not follow the minimum insurance laws. Thus, Uninsured motorist insurance (UM) is a requirement of the state. This insurance will have the same limits as your own liability policy. With this coverage, your losses will be covered even if the other driver does not have insurance. The coverage also comes into effect if your losses are greater than the insurance coverage of an underinsured driver.
While many other types of auto insurance are available in Maryland, these types are the ones required by state law. In addition, if your vehicle is financed, the lender may require that you have full coverage insurance. For an additional premium, you can purchase protection for physical damage, collision and comprehensive coverage. Purchase of an insurance policy can give you peace of mind as you operate your motor vehicle.
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