Insurance Maryland Coverage Requirements

If you are a legal resident of the state of Maryland and have a registered vehicle in the state, you are required to maintain continuous auto insurance coverage to satisfy financial responsibility laws. If you fail to maintain coverage and are caught driving without insurance, you could face serious penalties and punishments. These punishments include a suspension of your driving privilege, a suspension of your vehicle registration, fines, and jail time for multiple offenders. In order to have your license and registration reinstated, you may be required to pay a statutory fee to the DMV and provide a 3 year SR-22 that verifies you will keep continuous coverage in force. Driving without insurance can become very risky and very expensive. Understand what the required insurance Maryland coverages are and drive legal.

The auto insurance requirements in the state of Maryland have changed effective January 1, 2011. The state increased the limits required for liability insurance, as they did not feel the previous limits were adequate. Insurance Maryland financial responsibility laws require drivers to carry at least liability insurance. Liability insurance is designed to pay for injuries and damage caused to a third party's person or property. You must have been deemed at fault for the accident for your insurance to pay out.

Liability consists of both Bodily Injury and Property Damage coverage. Bodily Injury will pay for injuries you caused to a third party no matter how many individuals were involved in the accident. The state of Maryland now requires drivers to carry no less than $30,000 per person and $60,000 per accident in Bodily Injury (BI) coverage. Property Damage will pay for damage to third party vehicles and property that you are responsible for causing. The state of Maryland requires drivers to carry no less than $15,000 per accident of Property Damage (PD) coverage. This limit will pay up to the amount stated on your policy no matter how many vehicles were involved in the incident.

Financial responsibility insurance Maryland laws only require that drivers carry liability insurance. While these are the only required coverages, there are several other coverage options available for your protection. Uninsured motorist, medical payments, and physical damage coverages are also available for additional premiums. While these are optional, they can truly benefit you in the event of an accident.

When you are receiving quotes for insurance Maryland policies, be sure to inquire on premiums for optional coverages and increased limits. Not carrying insurance can become very expensive if you are caught. Not only can it be expensive, it is also very risky. Be sure to invest in insurance and drive legally on public roadways. With insurance, you will have the peace of mind you need when you start your engine every day.

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