The roads of Maryland are some of the busiest in the country. Most of Maryland is around the two most congested cities in the country, Baltimore and Washington DC, this is understandable. Thus, the mandatory auto insurance coverage policies in this state are also very high. The minimum liability fixed by the state of Maryland is 20/40/15. This stands for twenty thousand dollars for bodily injury per person and forty thousand dollars for bodily injury in total covering two people. Property damage coverage for the amount of fifteen thousand dollars is also compulsory. But the state of Maryland differs from many other states as most states fix minimum liability and make no other policy mandatory.
However, the state of Maryland has fixed two other policies PIP or personal injury protection and uninsured motorist’s coverage. Personal injury protection is the insurance policy that will pay for any lost wages in case a person is injured in an accident that he might have caused. Bodily injury will only cover the cost of the victim.
The state of Maryland requires a PIP for the amount of two thousand five hundred dollars. Uninsured Motorist’s coverage will cover the costs of the victim in case he is involves in an accident caused by a person not insured as per the requirements of the law. This policy ensures that every person will be paid without regard to the other person’s insurance coverage. The minimum amounts fixed for the uninsured motorist’s coverage is the same as minimum liability and is of the form 20/40/15.
These are large amounts of insurance and driving on the roads of Maryland will cost quite a lot. However, there are many discounts that insurance companies offer. This article lists a few of these discounts.
The multi vehicle discount is very commonly used. Most of the houses in United States have more than one car. Insuring all the cars with the same insurance company will ensure that the person gets a large discount. The good student discount is also very common. This is a discount given to any person who has a good student in his house.
The student must be able to achieve a certain level of grades in all the exams. This discount will help the student keep his grades high. If you are planning to buy different kinds of insurance, pool the insurances together. Buy life and auto or life and health insurance together. This will ensure you get discount. It will also help you manage your finances as you can save money on medical cover on auto insurance if you have good auto insurance.
Carpool discount is also common. Many auto insurance companies offer discounts if the driver drives in a carpool. Apart from the discount, the driver will be playing his part in saving the world. Raising the deductibles on physical damage policies will help one save money. The higher the deductible, the lower the insurance rates will be. Good driver discount gives a discount to any driver who has had a clean record for the past three to five years.