Auto insurance protects you against financial losses such as car repairs, medical bills and legal services resulting from accidents. But finding the right car insurance policy in Maryland can be tricky. More than 200 auto insurance companies are allowed to sell insurance in Maryland, it is important to compare prices in terms of price and coverage.
Read, research and ask questions is the best way to acquire the knowledge you need to make an auto insurance informed purchasing decisions and will not let you “six months on the road.
Important note: Keep informed of updates in the law of Maryland to help ensure you have the coverage of compulsory motor insurance. Also, keep in touch with your auto insurance agent in Maryland for informative answers on the changes of any auto insurance legislation.
What You Need
Maryland All drivers must purchase certain minimum amounts of coverage for automobile insurance. Many buy extra coverage or more than the minimum required as additional protection, but only those types and amounts are legally required:
– Bodily Injury Liability: $20,000 per person, $40,000 per accident and $15,000 property damage
– Uninsured/Underinsured Motorist: Same minimums as bodily injury liability
– Personal Injury Protection (PIP): $2,500 (May be waived, depending on your health care coverage)
Factors affecting your premium
Pricing between auto insurance companies in Maryland vary greatly. Premiums are, however, given certain factors and characteristics, including:
* Make and model of car
* Driving Record
* Age, sex, marital
* Records of conduct of other drivers in the household
* The geographical area
* Credit History
* Coverage limits
* Prior insurance coverage
* Annual Mileage
Shopping for auto insurance
Comparison shopping is essential to get the most for your dollar when shopping for Maryland auto insurance.
You should buy auto insurance before buying a new car, commercial vehicles, add drivers or when it is time for your policy must be renewed.
These measures will help ensure you get the information you need when searching for auto insurance:
1. Determine auto insurance rates before buying a new car.
2. Arm yourself with knowledge about insurance coverage.
3. Look for unbiased information from consumer groups, publications and the Internet.
4. Compare policies and prices before making a final decision.
5. Ask for list prices.
6. Learn about the effect of raising your deductibles.
7. Ask about possible discounts.
8. Protect yourself against fraud by insurance agent to check and licensing company.