Did you know Maryland is a mandatory vehicle insurance state? What does this mean for you?
In order to register your vehicle in Maryland you must have liability insurance. How do you know if you have the adequate amount of coverage?
1. All Maryland vehicles MUST be insured at ALL times by a vehicle insurance company licensed in Maryland. Your vehicle insurance must cover, at a minimum:
$30,000 for bodily injury
$60,000 for 2 or more people
$15,000 property damage
For a Transportation network company who is an affiliate of a company that provides taxicab services with no fewer than 26 nor more than 300 transportation network operators. Your vehicle insurance must cover, at minimum:
$50,000 for bodily injury
$100,000 for 2 or more people
$25,000 for property damage
2. Return your license plates to any MVA branch office before you cancel your vehicle insurance.
How to Properly Buy, Sell, Gift or Donate a Vehicle Through a Private Transaction
If you are selling, buying, gifting or donating a vehicle in Maryland, the transaction can be confusing. That’s why each step is covered in this guide to help you privately sell or buy a vehicle, donate or give the vehicle as a gift.
Buyers and sellers should be aware that private vehicle sales (without a licensed dealer) are not regulated by the MVA. Any legal action regarding the sale, warranties, or consumer rights are the sole responsibility of the buyer and the seller.
Always keep a copy of any transfer of ownership documents or related forms for your records.
If You are Selling the Vehicle If You are Buying the Vehicle Has the Vehicle Been Damaged? Donating a Vehicle to Charity Giving the Vehicle as a Gift Unlicensed Dealers vs. Licensed