If you drive a car in Maryland and you own that car or you lease it, you're going to need Maryland auto insurance. If you live in Maryland, you need a minimum of $30,000 coverage for bodily injury liability per injured person, with a maximum of $60,000 per accident. Property damage coverage is also necessary, with a minimum of $15,000 in coverage. These are minimum standards; you may or may not need more insurance, depending on your particular situation.
Do you need simple liability insurance, or do you need comprehensive and/or collision, as well?
The above standards as listed for Maryland auto insurance are for liability coverage only. If you drive and you own or lease the car you're driving, you MUST have at least this amount of coverage to be lawful.
However, there are other types of coverage you may want to consider, depending on the car you're driving.
If your car is newer than 10 years old and you're leasing it or are making payments on it, you also likely need insurance in addition to simple liability insurance. Simple liability insurance is required by law because it covers damages to the other party's vehicle or person, when you're at fault. Two other types of insurance, comprehensive coverage and collision insurance, may also be necessary in order to protect your vehicle. Let's take a look at them in some depth.
While liability insurance covers the OTHER party's damages in the event you're at fault in an accident, collision insurance covers your own vehicle's damage in an accident, should you be at fault. In general, collision insurance replaces your car's value at its current market rate. You'll usually pay a deductible first, and your policy will cover the balance. If you're leasing a vehicle or own a vehicle but are still making payments on it, you may be required to carry collision insurance.
Comprehensive insurance covers damage to your vehicle that's not as a result of an accident, such as that which occurs because of an "act of God." A tree branch falling on your car for no apparent reason may be an example of an "act of God." Again, if you're leasing a car or are still making payments on a car you own, you may be required to carry this insurance.
This can also be a good idea to have if you live in a region that is prone to storms or floods, and you want extra peace of mind. The terms and conditions that different Maryland Auto Insurance Companies will apply to their policies will vary, so it is a good idea to read through the policy documentation carefully before finally committing to any auto insurance. Get a wide variety of Maryland Auto Insurance Quotes so that you can easily compare what is offer, and have an eye to the details to explain why one policy may end up being better value than another.
All auto insurance is NOT created equal, so if a deal seems too good to be true, then be extra vigilant in checking that it in fact isn't!
When you DON'T need anything other than the minimum liability insurance
With Maryland auto insurance, you always need to carry the minimum requirements for liability insurance as listed above regardless of your situation. However, if your car is older than 10 years old, and you own it outright (you're not still making payments on it, in other words) and you're not leasing it, it's generally NOT a good idea to carry collision or comprehensive insurance. That's because the premiums you'll pay will generally exceed the value of the car and its replacement value. If your car is over 10 years old AND you own it outright, save yourself some money and just carry simple liability insurance.
Finding the best rates
You can find really good rates for Maryland auto insurance by doing comparison-shopping online and getting a wide range of Maryland Auto Insurance Quotes so you can see what is on offer for your age, car, and the amount of auto cover you are seeking to buy.
Decide which type of insurance you want, and then look for policies that contain that coverage. Find insurance carriers that offer Maryland auto insurance of the type you're looking for, and then request quotes from several. Comparison-shop between those, and choose the best policy for the lowest price.