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If you operate a motor vehicle in Laurel, MD, you must carry auto insurance. There are several types of auto insurance to choose from; each of which has its advantages and disadvantages with regard to cost and coverage. Before contacting Mid Atlantic Insurance Financial to purchase a policy for automobile insurance, it’s beneficial to know and understand the different options. To help you get started, here is some brief information on the three most common types of auto insurance.
Comprehensive Auto Insurance
Comprehensive, also known as full coverage, is just like it sounds-it covers almost any type of damage and/or injuries to you, other drivers and/or property. With a comprehensive insurance policy, if you are involved in an accident, whether it is your fault or not, after paying the deductible, the policy will cover the costs incurred. For instance, if your involved in an accident with an uninsured driver, your comprehensive insurance will cover the costs of damages to your vehicle. Regardless of how undervalued you think your vehicle is, comprehensive insurance is the best option to ensure you and your vehicle are protected in any type of auto accident.
Liability Auto Insurance
Liability is the minimum requirement for most states, including MD. Liability insurance is generally the lowest cost option, but it will only cover damages to another person’s property; this policy will not cover damages to you or your vehicle. If you have financed your vehicle through a bank or loan company, most will require you to carry more than a liability on the vehicle. If you have an older vehicle that is not driven very often, liability may be a good option; however, it’s important to talk to your insurance representative to ensure that this type of insurance is suitable for your needs.
SR22
SR22 insurance is also known as an SR22 bond, which means you have agreed to provide a “bond” with the state in order to operate a motor vehicle. This type of coverage is generally required if you have been involved in a situation that cost you driving privileges for any amount of time. For instance, if you have multiple driving under the influence charges or were involved in an automobile accident and you did not have insurance at the time of the accident. Before your driving privileges are reissued, you will be required to obtain an SR22 insurance bond.
Residents of Laurel, MD who want to learn more information about or to purchase automobile insurance should contact Mid Atlantic Insurance Financial.