Car insurance – we hate to have to put out the money for something that we ‘never’ use. In Maryland, though, as is the case with most states throughout the country, one of the requirements you must meet when you own a vehicle is obtaining a certain level of insurance coverage – driving without insurance is against the law. If you are caught driving without insurance, you will be subject to a range of punishments and penalties including registration suspension, loss of license and/or license plates, and fines that compound based on the length of time the issues are unresolved. You could also lose your privilege to newly register vehicles or renew registrations in the future until violations are cleared. The most devastating outcome of failing to obtain and maintain your car insurance, however, is if you are in an accident – the potential costs for which you could be held responsible may be far in excess of what it would have cost to purchase insurance in the first place.
Most people know that they need to have car insurance, but how much is required by law? Though many drivers may choose to have more insurance than the minimum required by law for any number of reasons, the minimum coverage limits in Maryland are:
- $30,000 for bodily injury;
- $60,000 for two or more people; and
- $15,000 property damage.
Advantages To Having Good Car Insurance
Since the majority of Americans do not have an extra $30,000 sitting around for the purpose of an emergency, car insurance is obviously a practical option. Not only will car insurance keep you from paying heavy fines, the suspension of your license, the impoundment of your car, and even jail time, but it will protect you from heavy financial loss. Car insurance not only protects you from any mistake you might make on the road, but also the mistakes of others.
Different Types of Auto Insurance
- Liability – this is usually the most important aspect of insurance because it will protect you from the financial and legal penalty of an accident affecting another person, vehicle, or property. Having only the minimum level if insurance in this area means that you are leaving yourself susceptible to a high amount of risk if the damages from the accident exceed your coverage levels. However, having too much car insurance can be a financial burden.
- Collision – this type of insurance pays for the damages that occur on your own vehicle. Any insurance provider will most likely have a deductible, which refers to the damages that you must pay yourself before your policy helps out. If you pay a higher deductible, then your premium payment throughout the year will likely be lower.
- Comprehensive – this insurance is an extension of collision and covers your vehicle when it is on the receiving end of damages due to the weather, fire, or a theft.
- Uninsured Motorist – this insurance will cover your accident if you get hit by a driver who is uninsured or underinsured. This can happen more times than not where another driver cannot pay the full amount or anything at all to cover the damages.
When Accidents Happen, Contact The Jaklitsch Law Firm
Unfortunately, despite the legal requirement to obtain and maintain car insurance, some drivers fail to abide by the law. Being involved in an accident is bad enough, but finding out that the other driver does not have the proper insurance coverage adds an extra layer of stress onto an already painful experience. When accidents occur and there is an issue of uninsured or underinsured drivers, an experienced car accident attorney can help you to make sure you know your rights and responsibilities under the law.
If you or a loved one has been involved in an auto accident and the other driver does not have insurance, contact the uninsured motorist attorneys at Jaklitsch Law Firm. We are dedicated to helping you make a full recovery for the losses you have suffered due to the accident and will be there with you to advocate on your behalf from the beginning of your case until the matter is resolved. Contact us to schedule your free consultation by calling 301-627-8700.