How Much Is Car Insurance in Maryland? (2024)


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ByMark Fitzpatrick
Reviewed byMark Friedlander
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ByMark Fitzpatrick
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Reviewed byMark Friedlander
Edited byJlyne Ubina
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Updated: May 27, 2024

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In Maryland, residents can expect to pay around $1,464 a year for full car insurance coverage. Those opting for the minimum coverage will see their yearly cost around $846.

When it comes to calculating your car insurance premium, your age, the level of coverage you choose, where you live, your driving record and credit history all have an effect on how much you'll pay. Each of these factors can either increase or decrease the cost of your plan, impacting whether it's cheap or affordable.

Why Trust MoneyGeek? To pinpoint the most precise average costs for various drivers across Maryland, MoneyGeek compiled data from Quadrant Information Services and the Maryland Department of Insurance. This was done using sample driver profiles that reflect the typical criteria insurers use to determine premiums.

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These rates reflect the average cost of car insurance in Maryland as of 2024.

20,151Quotes Analyzed
 
9Companies Compared
 
54ZIP Codes

Average Car Insurance Costs in Maryland

Maryland's average full coverage car insurance cost is approximately $1,464 annually. Comparing car insurance quotes from several insurers is important for evaluating if you're receiving a competitive quote from your insurance provider.

Here's what you might pay for auto insurance in Maryland. Whether you're opting for minimum coverage or full coverage, these numbers offer a ballpark for your monthly and yearly insurance expenses.

100/300/100 Full Cov. w/$1,000 Ded.Average Annual Premium$1,464Average Monthly Premium$122
100/300/100 Liability OnlyAverage Annual Premium$1,009Average Monthly Premium$84
State Minimum Liability OnlyAverage Annual Premium$846Average Monthly Premium$71

Why Are Car Insurance Rates Moderate in Maryland?

Car insurance in Maryland can be considered moderately expensive. Comparing the state's rates to the national average cost of car insurance, Maryland's average annual premium for 100/300/100 full coverage with a $1,000 deductible is $1,464 or $122 monthly. Meanwhile, the national average for the same coverage is $1,244 annually or $104 monthly. The state minimum coverage in Maryland is $846 annually or $71 monthly, in contrast with the national average of $573 annually or $48 monthly.

The cost of car insurance in Maryland is influenced by factors such as the state's population density, accident rates and the prevalence of costly claims. Urban environments with high traffic congestion can lead to more accidents, which may increase insurance premiums. Additionally, legal requirements and the cost of healthcare in Maryland can push insurance rates higher compared to other states.

Average Car Insurance Costs in Maryland by Company

Car insurance premiums can differ significantly from one company to another, even within the same state. For instance, in Maryland, State Farm offers the most affordable full coverage at an annual cost of $1,191, while Allstate has the highest average premium at $2,071.

You might find the cheapest car insurance in Maryland by shopping around, ensuring you get the right coverage at a cost that fits your budget.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
State FarmAnnual Premium$1,191Monthly Premium$99
NationwideAnnual Premium$1,312Monthly Premium$109
GEICOAnnual Premium$1,312Monthly Premium$109
TravelersAnnual Premium$1,335Monthly Premium$111
ProgressiveAnnual Premium$1,366Monthly Premium$114
ErieAnnual Premium$1,442Monthly Premium$120
KemperAnnual Premium$1,677Monthly Premium$140
AllstateAnnual Premium$2,071Monthly Premium$173
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Average Car Insurance Costs in Maryland by Coverage Level

The cost of car insurance in Maryland is also influenced by the choice of coverage level. While the state's monthly minimum coverage comes at an average of $71, the monthly cost of a full coverage policy with a $1,000 deductible is about $122.

It is often recommended to secure a full coverage policy, despite its higher price tag, due to its extensive protection. Adding comprehensive and collision coverage to your Maryland car insurance policy will certainly increase your premium — yet opting for higher deductibles may mitigate the cost increase.

State Minimum Liability OnlyAverage Annual Premium$846Average Monthly Premium$71
100/300/100 Liability OnlyAverage Annual Premium$1,009Average Monthly Premium$84
300/500/300 Liability OnlyAverage Annual Premium$1,277Average Monthly Premium$106
State Minimum Liability w/ Full Cov. w/$1,000 Ded.Average Annual Premium$1,376Average Monthly Premium$115
State Minimum Liability w/ Full Cov. w/$500 Ded.Average Annual Premium$1,415Average Monthly Premium$118
State Minimum Liability w/ Full Cov. w/$1,500 Ded.Average Annual Premium$1,454Average Monthly Premium$121
100/300/100 Full Cov. w/$1,000 Ded.Average Annual Premium$1,464Average Monthly Premium$122
100/300/1000,000 - 500 comp_collAverage Annual Premium$1,502Average Monthly Premium$125

Minimum Car Insurance Requirements in Maryland

In Maryland, the minimum car insurance requirements include $30,000 for bodily injury per person, $60,000 for bodily injury per accident, $15,000 for property damage and uninsured/underinsured motorist coverage matching the liability limits.

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    $30,000 for bodily injury liability per person

    This is the minimum coverage required in Maryland for injuries you cause to one person in an accident.

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    $60,000 for bodily injury liability per accident

    Maryland requires this amount as the minimum coverage for injuries to multiple people in a single accident.

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    $15,000 for property damage liability per accident

    This coverage is the minimum required in Maryland to pay for damage to another person's property per accident.

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    $30,000 uninsured motorist bodily injury per person

    This is the minimum amount in Maryland to cover your injuries if hit by a driver without insurance.

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    $60,000 uninsured motorist bodily injury per accident

    Maryland's minimum coverage to protect you against injuries caused by an uninsured driver in a single accident.

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    $15,000 uninsured/underinsured property damage coverage

    The state minimum in Maryland to cover property damage caused by an uninsured or underinsured driver.

Average Car Insurance Costs in Maryland by City

Your location greatly affects your car insurance premiums. The cheapest full coverage rate in Columbia is $1,041, while Baltimore's is $1,625.

Car insurance costs in Maryland are influenced by several factors, including driving history, age, vehicle type, coverage amount and credit score. These play a significant role in determining the affordability of your premium.

BaltimoreFull Coverage Annual Premium$1,625Minimum Coverage Annual Premium$975
ColumbiaFull Coverage Annual Premium$1,041Minimum Coverage Annual Premium$610

Average Car Insurance Costs in Maryland by Age

Age influences car insurance costs in Maryland, with younger drivers typically paying higher premiums. Generally, drivers aged 22 to 29 face the most expensive insurance rates, averaging $1,712 annually or $143 monthly. As drivers mature, they often see lower rates, with those aged 30 to 59 paying an average of $1,464 per year or $122 monthly.

However, premiums slightly increase for drivers 60 and older, averaging $1,607 annually or $134 monthly — reflecting the trend that very young and older drivers experience higher insurance costs.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
22-29Average Annual Premium$1,712Average Monthly Premium$143
30-59Average Annual Premium$1,464Average Monthly Premium$122
60 +Average Annual Premium$1,607Average Monthly Premium$134

Average Car Insurance Costs in Maryland for Teens

Age and gender notably affect car insurance rates in Maryland, with a considerable premium spike for young drivers. Sixteen-year-old males, when added to a family policy, face an average annual cost of $2,854 — the highest of all age groups. Teens under 18 often require a parent or guardian to co-sign for car insurance. If opting for an individual policy, a 16-year-old male may see premiums around $6,272.

Data filtered by:Results filtered by:
Gender:
Gender:Male
16Added to Family Policy Premium$2,854Individual Premium$6,272
17Added to Family Policy Premium$2,846Individual Premium$5,387
18Added to Family Policy Premium$2,375Individual Premium$4,496
19Added to Family Policy Premium$2,274Individual Premium$3,599
20Added to Family Policy Premium$2,312Individual Premium$3,076
21Added to Family Policy Premium$1,814Individual Premium$2,382
22Added to Family Policy Premium$1,751Individual Premium$2,138
23Added to Family Policy Premium$1,826Individual Premium$1,872

Average Car Insurance Costs in Maryland for New Cars

The average annual cost for full coverage car insurance on a 2012 car model is $1,163, while the same coverage on a 2022 model climbs to $1,298. This surge in premium is due to newer vehicles having a higher actual cash value, more expensive repair costs and a higher risk of theft, all contributing factors to the increased insurance costs.

Experts recommend that drivers of newer models should consider comprehensive and collision coverage, which can protect against a wider range of incidents, including vandalism, natural disasters and accidents.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
2012 VehicleAnnual Premium$1,163Monthly Premium$97
2022 VehicleAnnual Premium$1,298Monthly Premium$108
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ACTUAL CASH VALUE

The actual cash value (ACV) of your vehicle is the amount your insurance company will consider when reimbursing you after a comprehensive or collision claim. It represents your car’s current market value, factoring in depreciation, and helps determine the payout you will receive for repairs or replacement of your vehicle.

Average Car Insurance Costs in Maryland by Driving Record

Drivers in Maryland know that their driving record can influence their car insurance payments. The average cost for minimum coverage can change based on whether a driver has tickets, accidents or DUIs.

  • With a ticket: $1,760 per year; $147 per month
  • With an at-fault accident: $2,192 per year; $183 per month
  • With a DUI: $2,185 per year; $182 per month

The more severe a driving violation is, the more you'll likely pay for car insurance in Maryland. These additional costs will stick around as long as the violation is on your record. How long that is can differ in each state. For instance, DUI convictions in Maryland can stay on a driving record for as long as five years, and they usually result in higher insurance premiums during that time.

Although DUI offenses are commonly the most expensive in terms of insurance rates, this isn't always the case. There could be times when other violations lead to higher costs from particular insurers in several states.

Check the table for detailed info on the average cost of insurance in Maryland, based on the sort of coverage you want and your age group, all sorted by driving record.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
Age Group:
Age Group:30-59
CleanAverage Annual Premium$1,464Average Monthly Premium$122
TicketAverage Annual Premium$1,760Average Monthly Premium$147
DUIAverage Annual Premium$2,185Average Monthly Premium$182
At-fault AccidentAverage Annual Premium$2,192Average Monthly Premium$183

Average Car Insurance Costs in Maryland by Credit Score

In Maryland, the average annual cost of car insurance fluctuates significantly based on your credit score, ranging from about $870 for those with excellent credit to $1,684 for individuals with poor credit.

Your credit score plays a pivotal role in shaping your car insurance rates, as insurance companies view it as an indicator of your reliability in paying bills. Credit scores are categorized as excellent (720-850), good (690-719), fair (630-689), and poor (300-629).

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 w/ $1000 Deductible
Age Group:
Age Group:30-59
ExcellentAnnual Premium$870Monthly Premium$72
GoodAnnual Premium$1,050Monthly Premium$87
FairAnnual Premium$1,213Monthly Premium$101
Below FairAnnual Premium$1,429Monthly Premium$119
PoorAnnual Premium$1,684Monthly Premium$140
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Factors Affecting Car Insurance Rates in Maryland

Understanding the factors that influence your car insurance rates in Maryland is key to finding an affordable plan that meets your needs. Here are the factors that affect the cost of coverage in the Old Line State:

  • Driving History: A clean driving record can lead to lower insurance premiums, while accidents or infractions can increase your rates due to higher perceived risk.

  • Credit Score: In Maryland, insurers may use your credit score to determine rates; a higher score can mean lower premiums, reflecting financial stability and reliability.

  • Age and Gender: Younger, less experienced drivers typically face higher costs, with variations also seen between genders due to statistical differences in driving behavior.

  • Car Make and Model: The type of car you drive affects insurance rates, with more expensive or high-performance vehicles usually costing more to insure.

  • Location: Where you live in Maryland can impact insurance costs, with higher rates in urban areas due to increased risks of theft and accidents.

  • Coverage Type: Choosing higher limits or additional coverage like collision insurance or comprehensive insurance will affect your premium.

  • State Minimum Requirements: Opting for state minimum coverage can result in more affordable rates, but it may not provide comprehensive protection.

  • Annual Mileage: Less time on the road can reduce your risk of accidents, potentially lowering insurance costs.

  • Marital Status: Married individuals might receive lower rates as they are statistically found to engage in safer driving behaviors than single drivers.

Exploring these factors will help you navigate the cost of car insurance in Maryland and find a balance between affordability and adequate coverage.

How to Save Money on Car Insurance in Maryland

To secure affordable car insurance in Maryland, compare rates, opt for a higher deductible and utilize all applicable discounts to lower premiums effectively.

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    Shop Around

    Comparing rates from multiple insurers can lead to finding the cheapest car insurance in Maryland.

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    Maintain a Clean Driving Record

    A clean driving record without violations or accidents often results in lower insurance premiums.

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    Bundle Policies

    Bundling car insurance with other policies like homeowners insurance can unlock discounts and lower overall costs.

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    Increase Deductibles

    Opting for higher deductibles can reduce your premium, but ensure you can afford the deductible if you need to file a claim.

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    Look for Discounts

    Insurers offer various discounts, such as for safe driving, being a good student or having anti-theft devices installed in your vehicle.

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    Consider Vehicle Choice

    Driving a car that's less expensive to insure, such as one with safety features, can lead to more affordable rates.

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    Review Coverage Annually

    Regularly reviewing and adjusting your coverage can ensure you're not overpaying for insurance you don't need.

FAQ: Car Insurance Costs in Maryland

When assessing the average cost of car insurance in Maryland, many factors play a role, including driving history, vehicle type and coverage options. Understanding these costs helps consumers budget accordingly and choose policies that best meet their needs.

What are the minimum car insurance requirements in Maryland?
What is the average cost of full coverage and minimum coverage auto insurance in Maryland?
What is the average cost of car insurance for a 22-year-old in Maryland?
What are the cheapest car insurance companies in Maryland?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.