Senate Approves Increase in Auto Insurance Liability Coverage

 

There was talk recently of the disparaging difference between requirements for auto insurance liability coverage in the state of Maryland. There were some that felt that the amount of coverage was woefully lower than what it should have been, and that these amounts needed to be increased. The requirements are currently still as the ones that were set thirty eight years ago, and since that time a lot has changed. There is the fact that the price of cars has gone up significantly, as has the average amount of income, medical bills, and repairs to vehicles. They say that the amounts that are currently shown are not sufficient to take care of you when you are in an accident, and so the amounts should have been increased years ago.
 
The legislature agreed, and so they approved for their minimum auto insurance coverage to be increased. The liability limits on vehicle owners’ auto insurance was increased to $25,000/$50,000. The bill will now go to Governor Martin O’Malley for approval and if he should agree it will become law.
 
There are of course many that think it is a bad idea and wonder how they could be looking to increase auto insurance limits at this time. They say that the economy is so bad, and so many people are barely holding on to what they have, that to increase it now will cause a lot of people to lose their auto insurance as they will no longer be able to afford it.

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