Maryland drivers would likely see their car insurance payments increase under a bill backed by the state House.
Maryland’s House of Delegates voted 97 to 36 Tuesday to raise the minimum amount of auto liability insurance required of drivers.
Motorists would be required to have at least $30,000 in automotive liability insurance for bodily harm to an individual, up from a current minimum of $20,000. Drivers would need insurance that covers them for at least $60,000 for accidents where more than one person is hurt, compared to $40,000 now.
A fiscal note attached to the bill says state coffers would increase significantly from the collection of insurance premium taxes.
The legislation would take effect in January 2011. It now moves to the Senate for consideration.
Was this article valuable?
Here are more articles you may enjoy.
Why the Coronavirus Recession Is Not Like the Last Recession 
In a First, State Farm to Acquire Texas Nonstandard Auto Insurer GAINSCO 
California Governor Signs Workers’ Comp Law Protecting Workers from Virus 
What Is the No. 1 Emerging Litigation Risk? ‘Forever Chemicals,’ Says Praedicat 
