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Is Purchasing the Minimum Maryland Auto Insurance Coverage Enough in the Event of an Accident?

Maryland is no different than other states — there is a required minimum amount of auto insurance you are required to carry in the state. This is to protect you in the event you cause an accident and injure someone else and/or cause damage to their property. In the event your insurance limits are too low and do not cover all of their damages, you could be left on the hook personally for anything that is not covered by your auto liability policy.

Retaining a skilled Maryland auto accident attorney is an important step in getting the compensation you deserve. In the event you are injured by an at-fault party, your attorney will help you determine all available avenues of possible recovery.

Minimum Insurance Requirements in Maryland

If you have a vehicle in Maryland, you are required to carry the following minimum amounts of liability insurance:

  • $30,000 in bodily injury, which is per person
  • $60,000 in bodily injury, which is per accident of two or more people
  • $15,000 in property damage coverage

Your bodily injury coverage will help reimburse someone for the medical expenses for which you are legally responsible, but only up to the limits of your policy. The property damage coverage will help reimburse someone for damage to their vehicle or other property.

Why Purchase More Coverage?

In many instances, this could be enough to cover someone else’s damages in the event of an accident. However, all it takes is one serious accident or a multi-car pile-up to quickly exhaust your limits. Or, imagine if you strike another vehicle that is very expensive, it could easily wipe out the $15,000 property damage limit.

When comparing insurance coverage, it is not a bad idea to buy more than the minimum limit. If you can swing the premiums, increasing your liability to $100,000 per person and $300,000 for each accident can be more than enough to protect you in various types of accidents.

However, do you own a business or have a lot of assets? Remember, any accident that exhausts your policy limits could leave you exposed personally. Having high liability limits or an umbrella policy may be necessary. Carrying minimum limits when you have a lot to lose is risky.

Uninsured and Underinsured Coverage

There is also something called uninsured and underinsured coverage (UM and UIM). UM coverage will apply if you are hit by an uninsured at-fault party. UIM coverage will kick in if the at-fault party’s coverage is not enough to cover the damages. This is why it is important to consider purchasing more than the minimum limits. There is no guarantee that the other party will have UIM, which means you could still be personally liable.

Contact a Charles County Personal Injury Attorney

If you have been injured in a Charles County auto accident, you need an attorney who can protect your rights and help you maximize your potential recovery. Contact the Law Office of Robert R. Castro today at 301-870-1200 to schedule an initial consultation.

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