When it comes to auto insurance you may be asking yourself "is basic auto insurance enough coverage"? In the state of Maryland, basic auto insurance is 30/60/15. This is liability coverage that protects other drivers and passengers in the event of an accident where you may be at fault. The state also mandates that you have an equal amount of coverage for uninsured and underinsured motorists. When you have questions about the amount of auto insurance you need Wellspring Insurance Network Inc.in Frederick, MD has the answers you need.
The reality of the question is basic auto insurance enough coverage is it depends on you and your vehicle. Do you have assets? You may need more than basic liability. Do you have a lease or a loan on your vehicle, if you do, basic insurance is not going to be acceptable to your lender. You need to have collision and comprehensive coverage in addition to the liability. These coverages protect your vehicle in the event of an accident if you are at fault or partially at fault. Most people can’t imagine being without a vehicle which makes these coverages something you should consider even if you don’t have a car loan or lease.
Collision coverage repairs or replaces your vehicle in the event of a collision. The policies do have limits so be sure you have what you need. Auto policies come with a deductible, commonly $500 or $1000. It is less expensive to have a larger deductible but it means you pay more out of pocket.
Comprehensive insurance covers for events beyond your control such as theft, vandalism, and weather (hail, wind, rain).
Basic auto insurance coverage may be enough for you or it may not be right. Talking to the knowledgeable team at Wellspring Insurance Network Inc.in Frederick, MD will help you to make the right decision. Stop by the office or give us a call for a quote.