This summer, whether you are planning a road trip or using your commercial vehicle for seasonal work, take steps to ensure your vehicle carries the appropriate coverage.
Auto insurance, a legal requirement in Maryland, not only provides peace of mind but also ensures your financial security. Did you know that all vehicle owners in Maryland must carry liability coverage, Uninsured Motorist (UM) coverage, and Personal Injury Protection (PIP)?
What Do These Required Coverages Protect?
Liability coverage helps pay for costs if you cause injuries or damage to someone else’s property in an accident. The minimum coverage levels required in Maryland are $30,000 for injuries to one person, $60,000 total for everyone injured, and $15,000 for property damage. This is often written as “30/60/15.”
Uninsured Motorist (UM) coverage protects you if a driver without auto insurance causes damage to your vehicle or injuries to you. Your UM coverage must be at least the state minimums of 30/60/15. If you have higher liability limits, you can elect UM coverage up to the level of liability coverage on your policy.
Personal Injury Protection (PIP) covers medical bills and lost wages for you and your passengers who are injured in an accident, regardless of fault. There are multiple levels of PIP coverage available. Full PIP extends this coverage to everyone in the vehicle. Limited PIP excludes certain adults but still allows coverage for underage passengers. “Rejection of PIP” or “NO PIP” is available to Maryland Auto policyholders who have not had an insurance policy in the prior year. The No PIP option is not offered by all carriers and is only available on personal auto policies. Commercial auto policyholders must carry either Full or Limited PIP.
In addition, some optional coverages, such as Comprehensive and Collision, are available.
Collision coverage provides coverage for damage to your car caused by striking another vehicle or object, regardless of fault. Comprehensive coverage covers damages to your vehicle from anything that is not considered a collision. This includes theft, fire, hail, and damage caused by animals.
Comprehensive and collision coverages carry a deductible. While these coverages are optional if you own your vehicle outright, if you have a car loan or lease, your bank or leasing company may require you to carry them.
Other Personal Auto Considerations
In addition to the required and optional coverages listed above, Maryland Auto offers rental and towing add-ons for personal auto policies. If your summer fun hits a bump in the road, towing and emergency roadside coverage or rental coverage can save the day.
Maryland Auto’s towing coverage provides free towing (within a certain radius), roadside service like changing tires or replacing batteries, and lockout assistance.
Rental coverage helps with costs for a rental vehicle while yours is unable to be driven due to a covered loss.
Commercial Auto Coverage
If you’re entering the peak season for work that uses your vehicle, make sure you are insured appropriately. Maryland Auto offers a variety of liability coverage options to meet the needs of your business. We don’t want you to be held back because you do not have the limits you need to qualify for a job. Maryland Auto offers the state required minimum limits for all Commercial Auto vehicles up to split limits of $100K/ $300K/ $100K and combined single limit of up to $1 million, available upon review by our Underwriting Department.
Comprehensive and collision coverages are not available for every Commercial Auto vehicle. Check with an insurance professional or insurance provider to see if these options are available for your business vehicle.
The Cost of Driving Without Insurance
If you drive without auto coverage, you risk uninsured motorist penalties. You could owe as much as $3,500 every year for each uninsured car you own.
Knowing which coverages are required and how much coverage you need to protect your assets is important. If you would like assistance, one of our authorized providers can help walk you through the process and determine the right coverage for you.
If finances are holding you back from insuring your vehicle, Maryland Auto’s interest-free installment payment plan provides you with a flexible payment option at no extra cost. This payment option is available for both personal and commercial auto policies.
Get a quote, find an authorized provider, or learn more about insurance at https://www.mymarylandauto.com/.
Maryland Auto Insurance has helped Maryland residents with their insurance needs for over 50 years, regardless of credit, driving record, or driving experience. If you’ve been turned down or canceled by other insurance companies, Maryland Auto will cover you. Guaranteed.
