Is Purchasing the Minimum Car Insurance Enough in Maryland?
Posted on behalf of Goldberg Finnegan, LLC on Jan 17, 2020 in Car Accidents
In Maryland, drivers must carry a specific amount of automobile insurance to cover liabilities in the event of a car crash. However, the minimum coverage amounts may not be enough to cover all the damages that may result, leaving you on the hook for anything that is not covered by your policy.
Below, Goldberg Finnegan’s experienced attorneys discuss what you need to know about minimum car insurance coverage requirements. If you have been injured in an accident, schedule a free, no-obligation consultation today to learn your legal rights.
What Are the Minimum Requirements?
Maryland requires every auto insurance policy to offer the following minimum amount of liability coverage:
- $30,000 for bodily injury, per person
- $60,000 for bodily injury, per accident for two or more people
- $15,000 for property damage
Bodily injury liability coverage pays for another person’s medical expenses that you are legally responsible for, up to the limits of the policy. Property damage liability coverage pays for damage you caused to another person’s vehicle or property up to the policy limit.
Should Drivers Buy More Coverage?
As you may already know, medical bills can add up very quickly, especially for serious injuries. The same thing can happen with the cost of repairing your vehicle, particularly if it is an expensive automobile.
When shopping for insurance coverage, you should strongly consider buying more than the minimum in liability coverage. For example, you may be able to increase your liability coverage to $100,000 per person and $300,000 per accident, which may be more than enough to cover damages from many kinds of accidents. You could also consider purchasing $50,000 in property damage coverage.
Check with your automobile insurance provider for a quote on increasing your liability coverage. In most cases, increasing coverage above the state required minimums may not be too costly.
Liability coverage only pays for damages suffered by the other driver. It does not cover the cost of fixing your vehicle or your medical care. That is why many drivers purchase additional coverage, such as collision and medical payment coverage.
Umbrella insurance coverage provides extra liability insurance in the event your policy’s minimums are not enough to cover the damages you are at fault for. This type of coverage is used to cover the balance of damages left over once the coverage totals for your automobile insurance policy have been exhausted.
Typically, insurance providers sell umbrella policies if you already hold insurance with the company, such as automobile insurance or homeowner’s insurance. Your provider may also require that your insurance limits on your initial policies be higher than the state minimums to qualify for umbrella insurance.
Contact Our Firm for Help
If you were injured in a car accident caused by another driver, you may be eligible to seek compensation for your medical bills, lost wages, and pain and suffering. The Silver Spring car accident lawyers of Goldberg Finnegan help injured victims pursue compensation for damages.
Request a free, no-obligation consultation today and learn what legal options may be available to help you recover compensation. There are no upfront fees and payment is only owed if we recover compensation for you.