I get calls all the time from people involved in motor vehicle accidents where their insurance coverage had lapsed, was insufficient, or they dropped collision coverage. Many of them ask if they can add coverage retroactively and of course the answer is they cannot.

Now is the time to check your coverages. You should have both collision and comprehensive coverage on your vehicle. Collision applies if your car is in an accident regardless of fault. Comprehensive coverage applies to all other damage to your car such as if your vehicle is stolen. If you do not have these coverages, you are on the hook for all repairs unless the other driver's insurance company accepts liability.

You need towing and rental car coverage or you will be paying out of pocket for these expenses as well as storage fees which add up quickly. Personal Injury Protection coverage pays medical bills (100%) and lost wages (85%) up to your PIP limit regardless of fault. Uninsured motorist coverage applies if the other driver is uninsured or underinsured. The higher the limit the better and the increase in premium is modest.

Your liability limits protect you from personal liability if you catestrophically injury someone or worse kill someone. The minimal limits in Maryland are only $30,000 per person/$60,000 per occurrence which is woefully insufficient. You need to protect your home and assets and carry high limits. You can even purchase umbrella insurance which provides even greater coverage and applies to a wide range of liablity situations.

You should check your coverage and add or increase your limits where necessary. Make sure you are protected in the event you cause an accident or the other driver is uninsured or underinsured. Otherwise, you will be in for a rude awakening later.