Minimum car insurance requirements are different across state lines. What this means is the car insurance coverage and limits that may be acceptable for friends and family members living outside of Maryland may not be the same for us. Therefore, it is important that we know the minimum car insurance requirements for Maryland to ensure we are driving legally.
We are required to have the following, at the bare minimum: bodily injury liability insurance per person, bodily injury liability total per accident (which is double the bodily injury liability cost per person) and property damage liability per accident. Also, uninsured/underinsured coverage per person and per accident are required (double the per person requirement). Furthermore, uninsured/underinsured property damage coverage is required per accident.
Bodily injury liability insurance coverage pays for the cost of any injuries related to other people involved in an accident. Property damage liability covers us for financial liabilities, up to a specific amount, that causes damage to another person’s vehicle or property. Uninsured/underinsured coverage defends us when in an accident with a driver who was at-fault that does not carry any insurance or does not have enough insurance to cover medical bills or other damage.
Signing up for the bare minimum state coverage is considerably less expensive than paying for full coverage, however, it may not be enough to cover all expenses during an accident. Therefore, it is critical that we consider whether having the least expensive insurance is worth it versus adding extra coverage of maximum coverage is our best option. A simple rule of thumb: if the vehicle is not worth much and there are not many assets to leverage, the state insurance minimum may be the best coverage option.
Leon Insurance LLC can provide more information and help find the right car insurance for us! Leon Insurance LLC has years of experience and is dedicated to all our insurance needs!