Maryland Drivers to See Auto Insurance Rate Hike

Posted & filed under Maryland Car Insurance, Rate Watch.

The Insurance Journal is reporting that drivers in Maryland are likely to see higher car insurance payments next year, thanks to a bill that the state House of Delegates is backing. On Tuesday, members of the House voted 97 to 36 to increase the required amount of auto liability insurance for motorists in their state.

If the state Senate, which is currently considering the bill, approves the changes, Maryland drivers would have to carry:

  • $30,000 in automotive liability insurance for bodily harm to an individual
  • and

  • $60,000 in liability insurance for accidents where more than one person is injured

These numbers are increased from the current minimums of $20,000 and $40,000, respectively.

A fiscal note attached to the bill states that the collection of taxes on the increased insurance premiums would significantly boost the state coffers.

If the Maryland Senate approves the bill, the rate increase would go into effect in January, 20111.