Most people buy car insurance and rarely look at the policy again. But a few minutes reviewing your coverage could make a major difference after an accident.
Start by finding your Declarations Page, often called your “dec sheet.” You may have received it by email, through your insurance company’s app, or from your insurance agent.
Then look at these three things:
1. Liability Limits
Liability coverage helps pay for injuries or damages you cause to someone else in an accident. If your limits are too low, you could potentially be personally responsible for damages that exceed your insurance coverage.
2. Uninsured and Underinsured Motorist Limits
What happens if another driver causes the crash but has little or no insurance?
Uninsured and underinsured motorist coverage can help protect you when the at-fault driver does not have enough coverage to compensate you for your injuries and losses. Maryland requires this coverage as part of an auto policy.
3. Personal Injury Protection (PIP)
PIP can help pay certain medical expenses and lost wages after an accident, regardless of who caused the crash. Maryland insurers must offer at least $2,500 in PIP coverage, and higher limits may be available.
Before automatically reducing or waiving coverage to save a few dollars, understand what you may be giving up.
Take a few minutes to review your declarations page. The time to find out what your insurance covers is before you need it.