In Maryland, insurance coverage is required to register a vehicle and must be maintained to have the vehicle marked. The average cost of vehicle insurance in Maryland varies depending on where you live.
Some cities, for example, may offer more possibilities for low-cost auto insurance from reputable firms. More than just state lines have an impact on your auto insurance rates. Premiums for auto insurance are calculated using a variety of factors, including the insured party’s age, credit score, driving history, gender, and marital status.
In this post, we will be looking at how much Car Insurance costs in Maryland. We’re also going to consider factors that affect its cost.
Table of contents
- Cost Of Car Insurance In Maryland
- Maryland’s Average Car Insurance Costs By Age Group
- Maryland’s Average Vehicle Insurance Costs By Gender
- Maryland’s Average Car Insurance Costs By Marital Status
- Maryland’s Average Auto Insurance Costs By Credit Score
- Average Car Insurance prices For Drivers With Bad Driving Records In Maryland
- Maryland Car Insurance Rates By Company
- Maryland Car Insurance Rates By City
- Costs Of Vehicle Insurance In Maryland By Coverage Level
- How to Save Money on Car Insurance In Maryland
- Conclusion
- Car Insurance Cost In Maryland FAQs
Cost Of Car Insurance In Maryland
The average annual cost of automobile insurance in Maryland is $767 for state minimum liability limits and $1,877 for full coverage.
To get the average car insurance in Maryland per month, divide what is obtainable by 12 to determine how much you can pay each month.
Where you live is one aspect that influences how much you pay for auto insurance per month or per policy period.
Full coverage in Maryland costs $1,877 per year. Though Maryland prices are higher than the national average for full coverage vehicle insurance, which is $1,674 per year, there are some strategies to keep premiums low.
Switching carriers or shopping around for quotes may help you find the best company and premiums for you. Your age, driving record, automobile type, travel duration, and credit score could all play a role in determining your auto insurance costs.
Rest assured that the average monthly insurance cost in Maryland is way cheaper than driving a vehicle without insurance. So, it would be best if you opted for the best deals.
Maryland’s Average Car Insurance Costs By Age Group
It’s a fact of life that your auto insurance prices rise as you become older. Auto insurance is typically more expensive for young drivers and teenagers, as insurance firms view newer drivers as riskier.
In Maryland, a 16-year-old driver’s auto insurance costs $4,853, whereas a driver between the ages of 50 and 59 pays only $1,056 each year.
If you’re faced with the costly prospect of insuring a young driver, it’s worth remembering that Maryland is the 9th cheapest state for 16-year-old auto insurance.
Here’s a run down of the cost of car insurance for different age groups.
| Age | Average Premium |
| 16 | $4,852.98 |
| 17 | $4,071.53 |
| 18 | $3,531.60 |
| 19 | $2,806.82 |
| 20s | $1,641.54 |
| 30s | $1,174.55 |
| 40s | $1,140.64 |
| 50s | $1,056.14 |
| 60s | $1,176.30 |
| 70s | $1,244.86 |
Maryland’s Average Vehicle Insurance Costs By Gender
While gender has less of an impact on auto insurance prices than state or experience level, auto insurers use it as a grading component. Males pay $1,194.37 on average, while females pay $1,188.81.
Maryland’s Average Car Insurance Costs By Marital Status
Aside from the wedding gifts, one advantage of marriage is the potential for cheaper auto insurance rates. Married drivers in the state of Maryland save $22 on auto insurance each year. This is less than the $76 national post-wedding discount.
In Maryland, car insurance for divorced drivers is the 33rd most costly in the US. If you believe your auto insurance policy is being overcharged, don’t be hesitant to look around.
Single ——————$1,194.37
Married————- $1,216.16
Divorced———– $1,194.37
Widowed ————-$1,159.12
Maryland’s Average Auto Insurance Costs By Credit Score
A credit score is used by auto insurance underwriters to determine how trustworthy a potential customer is. According to historical trends, motorists with good credit are more likely to be dependable auto insurance customers: they file fewer claims that insurance companies must cover.
When compared to a driver with a low credit score, a car insurance client with excellent credit saves $1,082 per year on auto insurance in Maryland. Read on to learn more about how your credit history influences your vehicle insurance costs:
Very Poor (300-579) ————$2,177.73
Fair (580-669) ———————-$1,870.59
Good (670-739) ——————–$1,508.86
Very Good (740-799)——— $1,240.97
Exceptional (800-850)——- $1,094.87
Average Car Insurance prices For Drivers With Bad Driving Records In Maryland
Your vehicle insurance premiums will almost certainly rise if you are found to be at fault in an accident or convicted of an on-road infraction. The more traffic offenses you have, the more expensive your auto insurance becomes.
In Maryland, your first minor at-fault accident results in an annual motor insurance payment penalty of $503. A DUI or DWI, which are among the most serious driving offenses, can increase your annual vehicle insurance prices by an average of $490 in Maryland.
DUI/DWI —————————————-$1,730.80
Reckless Driving —————————$1,570.64
At-Fault Accident (<$1,000)——- $1,743.45
At-Fault Accident ($1,000-$2,000) $1,812.42
At-Fault Accident (>$2,000)——- $1,743.45
Open Container —————————-$1,540.03
Speeding (21-25 MPH > limit)— $1,530.76
Speeding (16-20 MPH > limit)— $1,408.10
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Maryland Car Insurance Rates By Company
Each vehicle insurance company in Maryland determines its own rates, which vary depending on your driving history, where you live, and the coverages you require. Some firms provide the most affordable rates, while others provide additional benefits that may make paying a higher premium worthwhile for the right driver. The graph below compares the typical prices for minimal liability and full coverage based on the same driver profile, so you can understand how much car insurance costs.
Car insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Allstate —————–$883 ———–$1,778
Donegal————- $767 ————$2,217
Erie ———————–$660 ————$1,881
Geico—————– $641 ————-$1,627
Maryland Auto Insurance —-$1,364——– $4,033
MetLife —————–$837 ————$2,432
Nationwide ———–$553———- $1,232
Penn National ——-$738———- $1,525
Progressive ———–$874 ————-$1,696
State Farm——— $920 ————–$2,007
USAA ——————–$604 ————–$1,574
Maryland Car Insurance Rates By City
The rates below indicate Maryland’s top 20 cities by population. As illustrated, the ZIP code where you live might impact how much you spend on average for auto insurance.
City Average annual premium for full coverage
Baltimore——————– $2,772
Silver Spring ——————$2,027
Rockville ————————$1,810
Columbia ———————–$1,847
Germantown ——————$1,816
Gaithersburg ——————$1,842
Upper Marlboro———– $2,149
Waldorf ————————–$2,027
Dundalk ————————-$2,531
Bethesda——————– $1,743
Frederick ———————–$1,546
Ellicott City ——————-$1,913
Glen Burnie—————- $2,000
Annapolis—————— $1,776
Towson——————— $2,378
Hyattsville ——————–$2,406
Bowie —————————$2,041
Potomac ———————-$1,772
North Bethesda ————$1,747
Essex —————————-$2,370
Costs Of Vehicle Insurance In Maryland By Coverage Level
The amount you pay each month for auto insurance is determined by the quantity of coverage you have. Liability-only coverage is often less expensive, whereas comprehensive coverage with a low deductible is more expensive. The difference in cost between liability-only coverage and full coverage with a $500 deductible in Maryland is $663.
$100K/$300K/$100K Bodily Injury/Property Damage — Liability Only ——- $755
$100K/$300K/$100K Bodily Injury/Property Damage — $1,000 Comprehensive/Collision ————–$1,270
$100K/$300K/$100K Bodily Injury/Property Damage — $500 Comprehensive/Collision———- $1,415
$50K/$100K/$50K Bodily Injury/Property Damage — Liability Only———– $695
$50K/$100K/$50K Bodily Injury/Property Damage — $1,000 Comprehensive/Collision ———–$1,210
$50K/$100K/$50K Bodily Injury/Property Damage — $500 Comprehensive/Collision———— $1,355
State Minimum — Liability Only——– $627
State Minimum —————- $1,000 Comprehensive/Collision————– $1,144
State Minimum — $500 Comprehensive/Collision ———–$1,290
How to Save Money on Car Insurance In Maryland
There are various ways to save money on auto insurance in Maryland if you want to keep your premiums low. Use these money-saving ideas to acquire the greatest auto insurance deal in your Maryland city.
1.Make a bundle with your house.
If you own a home or condo, you may usually take advantage of the multi-policy discount, which is one of the greatest percentage reductions available. Renters who bundle their renters insurance with their auto insurance may be eligible for a multi-policy discount. However, as compared to house insurance bundles, the reduction is usually lower.
2. Check your mileage.
If you travel less than 11,500 miles per year, the average for Americans, you may qualify for lower auto insurance premiums. Some companies provide mileage reductions, and others may even offer pay-per-mile coverage if you don’t drive much, which can help you save even more money on Maryland auto insurance.
3. Get rewarded for good driving habits.
You may be awarded for your safe driving practices, such as avoiding quick accelerations and sudden stopping. Most vehicle insurance companies provide usage-based telematics systems, which require you to attach a device to your car or track your trips using your smartphone.
Which is the Cheapest Car Insurance in Maryland?
According to Quadrant Information Services, Nationwide is the cheapest car insurance in Maryland for minimum coverage. Its average annual minimum premium is $553, while its average monthly minimum premium is $46.
Nationwide still tops the list of the cheapest car insurance in Maryland for full coverage. It has an annual full coverage of $1, 232 and a monthly full coverage premium of $103.
Conclusion
As much as the Car Insurance Cost in Maryland is higher than the national average cost, it is a necessity that one cannot overlook.
We hope you found this post very helpful, feel free to let us know what you think.
Car Insurance Cost In Maryland FAQs
In Maryland, there are numerous ways to save money on auto insurance. If you have an older automobile, for example, you may want to consider dropping full coverage if you can afford to fix or replace it yourself.
You might also lower your premium by raising your deductible, but make sure you can afford to pay the higher deductible if you need to submit a claim. Maintaining a good credit score will likely result in lower insurance costs in Maryland.
Maryland vehicle insurance premiums may be higher than in other states due to population density, the incidence of accidents, thefts, and vandalism, and weather-related incidents. Baltimore and Salisbury, for example, are both popular cities in Maryland. Metropolitan regions, according to the Insurance Information Institute, are also more likely to have higher auto insurance rates.
Maryland requires a minimum of $30,000 in bodily injury coverage per person, $60,000 in bodily injury coverage per accident, and $15,000 in property damage coverage. Uninsured and underinsured motorists must meet the same liability minimums. Personal injury protection (PIP) is required for a minimum of $2,500 per person, yet if you do not want PIP insurance, you can sign a waiver.
While rates vary depending on zip code, driving history, coverages, and vehicle type, the average monthly cost of automobile insurance in Maryland is around $156 for full coverage and $64 for state minimum liability coverage.
Yes, all Maryland drivers must acquire an uninsured motorist policy, which protects them financially in case of a collision with an uninsured or underinsured driver.
Maryland, on the other hand, is an “at-fault” state. When a driver is at fault in an accident, he or she is financially accountable for any injuries, car damage, and property damage.
To register a vehicle in Maryland, drivers must present proof of insurance. New residents must register their automobiles within 60 days of moving to Maryland.
Drivers who fail to ensure their vehicles correctly will have their registration stopped and will be fined $150 for the first 30 days and $7 for each day after that.
Drivers can pay up to $2,500 per vehicle every year under this pricing plan. Drivers who do not handle insurance issues may be referred to the Central Collections Unit (CCU) and charged a 17% collection fee.
All Maryland motorists must carry insurance that meets the state’s minimum standards. According to Maryland law, drivers must have liability insurance, uninsured motorist coverage, and personal injury protection (PIP) coverage.
If a driver’s health care coverage is sufficient to cover accident-related injuries, he or she may be eligible to forego PIP coverage.
References
- thezebra.com – What’s the Average Cost of Car Insurance in Maryland?
- bankrate.com – Average cost of car insurance in Maryland in 2023
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