As the New Year rings in, so does the new state minimum liability limit that one must have on their car insurance. All policies that had the old limits will be issued with the higher limits.

As our elected official states:
    
Posted On: March 16, 2010 by Ronald V. Miller, Jr.

Minimum Limits for Maryland Auto Accident Insurance

Tomorrow, the Maryland House of Representatives will vote on House Bill 825 which would raise the minimum limits of automobile coverage from $20,000.00/$40,000.00 to $30,000.00/$60,000.00.

Is $30,000 enough coverage for a significant accident? Of course not. Maryland has had 20/40 limits since 1972. This is 102,000/204,000 in 2010 dollars. But Rome was not built in a day and this bill is good step in the right direction.

As odd as it is for me to be carrying water for insurance companies, it is worth noting that the only way to protect yourself from an uninsured or underinsured motorist is to make sure you have adequate uninsured motorist coverage. The relatively modest increase in premium is worth the additional protection.

We recommend a check up. Give us a ring and we can walk you through a policy design that may make more sense, based on your finances!
 
Posted 8:05 AM  View Comments

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