How Much Is Car Insurance in Maryland? (July 2024)

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 $864.

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.

Maryland's average full coverage car insurance cost is approximately $1,464 annually. Knowing the average cost helps you see if an insurance quote is high or affordable. For better decisions, consider comparing car insurance quotes from several insurers.

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.

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 $1,296 annually or $108 monthly. The state minimum coverage in Maryland is $864 annually or $72 monthly, in contrast with the national average of $595 annually or $50 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, severe weather conditions and the cost of healthcare in Maryland can push insurance rates higher compared to other states.

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 $2,189.

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.

The cost of car insurance in Maryland is also shaped by the amount of coverage selected. Maryland drivers pay about $72 per month for minimum coverage, in contrast to around $122 per month for 100/300/100 full coverage with a $1,000 deductible. Despite being pricier, full coverage insurance is often recommended because it provides a more comprehensive safety net in case of accidents.

Adding comprehensive and collision coverage, often included in full coverage policies, will typically increase your premium. However, opting for higher deductibles can make this more affordable. Remember, the chosen deductible applies separately to each comprehensive and collision claim.

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.

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.

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 $1,707 annually or $142 monthly. As drivers mature, they often see lower rates.

However, premiums slightly increase for drivers 60 and older — reflecting the trend that very young and older drivers experience higher insurance costs.

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.

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.

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: $1,755 per year; $146 per month
• With an at-fault accident: $2,181 per year; $182 per month
• With a DUI: $2,145 per year; $179 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.

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).

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.

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

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.