How Much Is Car Insurance in Maryland? (2023)

Several factors influence the cost of car insurance, including the age of the driver, credit rating, driving record, insurer, the number of drivers on the policy and the amount of coverage selected.

Progressive is the cheapest for full coverage for drivers in their 40s ($938 annually) and young adults ($961 annually). Allstate is the most expensive option for those in their 40s ($1,447 annually). Nationwide is the priciest for young adults ($1,602 annually).

The average cost of auto insurance in Maryland is $1,128 per year or $94 per month for full coverage. Two factors that significantly affect your rates are your coverage level and driving history. Based on your driving record, you could pay:

• Clean record: $1,128 annually
• Speeding ticket: $1,406 annually
• DUI: $1,732 annually
• At-fault accident: $1,751 annually

The average annual cost of full coverage auto insurance in the United States is $1,054. Although the difference in cost nationally vs. with Maryland is not very large, car insurance in Maryland is more expensive than the national average. Maryland’s moderate pricing might be a result of lower chances of theft, moderate traffic, low urban population density and relatively affordable insurance rates. Personal considerations may still have an impact on the price of auto insurance, making car insurance in Maryland expensive for you.

Rates depend on your chosen insurer, so your premiums may differ from the average cost. Kemper offers the lowest rates in Maryland, costing $538 annually for minimum coverage ($1,036 per year for full coverage), while Allstate has the highest rates at around $943 for minimum coverage ($1,447 per year for full coverage). The cost of your policy may change according to your coverage, with full coverage policies having higher premiums than minimum coverage. Shopping around can help you find cheap full coverage insurance and cheap liability-only insurance.

Your coverage limit will determine how much your car insurance in Maryland will cost because premiums increase with your coverage level. A minimum coverage policy with the lowest limits is only $634 per year, while a policy with the most coverage costs $1,245 per year. Comprehensive and collision insurance makes up a full coverage policy, significantly raising your annual premiums. A higher deductible can reduce your premium if you’re on a budget.

Premiums for minimum coverage car insurance in Maryland are affordable, but it can be a little more expensive than in other states since it includes uninsured motorist insurance. Your insurers may provide increased liability limits, like 50/100/50 ($50,000 in bodily injury liability insurance per person, $100,000 in bodily injury liability insurance per accident and $50,000 in property damage liability insurance per accident), with 300/500/300 being the maximum limit available.

Liability insurance covers the costs of any harm or injury you may cause to others. Comprehensive and collision insurance, or full coverage policies, cover injuries and damages to you and your vehicle.

Age affects the cost of car insurance for new drivers and young drivers more than older drivers. Here are the average rates for full coverage for different age groups in Maryland:

• 22 to 29: $1,343 annually
• 30 to 59: $1,128 annually
• 60 and older: $1,242 annually

Rates rarely fluctuate between the ages of 30 and 60, but they can rise after a driver grows older. Drivers in their 20s pay more for car insurance, but the same may be true for new drivers in their 30s.

The cost of full coverage car insurance for teenagers on a family policy is $2,854 per year, and the average premium for an individual policy is $6,272 per year. Rates can drop to $2,274 for a 19-year-old and $1,751 for a 22-year-old.

Boys typically pay higher rates than girls for insurance as teens, and some insurers can be cheaper than others. You can get cheaper premiums by shopping around for affordable car insurance in Maryland. It’s also important to note that teens might need to get approval from a guardian to purchase insurance.

An old car only costs $1,163 per year to insure with full coverage compared to a new car, which costs an average of $1,298 per year to insure. This is roughly a 12% increase.

Since they have a higher actual cash value (ACV), newer cars are more expensive to insure. They can cost more to replace or repair if they are totaled or damaged. Newer cars also have a higher risk of theft. If you’re looking for more affordable options for your new car, consider comparing rates from various insurers.

New cars are best covered by a full coverage policy that includes comprehensive insurance. This type of policy helps you with expensive repairs or replacements when your car is damaged.

The cost of full coverage car insurance varies based on your driving profile:

• Clean record: $1,128 annually
• Speeding ticket: $1,406 annually
• DUI: $1,732 annually
• At-fault accident: $1,751 annually

Rates may increase significantly as a result of a more serious violation. A DUI may make your rates higher than having a speeding ticket on your record. Consider looking around for affordable car insurance in Maryland for drivers with poor records because premiums can vary depending on your insurer.

Your premiums vary depending on your credit score. Car insurance typically costs $1,684 annually for those with bad credit, compared to $870 annually for those with excellent credit. The following are the average premiums based on credit scores:

• Excellent: $870 per year
• Good: $1,050 per year
• Fair: $1,213 per year
• Below fair: $1,429 per year
• Poor: $1,684 per year

Your insurance company will determine how much more or less your coverage will cost based on your credit score. Consider shopping around for low-cost car insurance in Maryland for drivers with bad credit.

Location is one of the factors that affect your premiums. Your rates may depend on which city you live in Maryland. For instance, Columbia has the lowest rates, at $1,041 per year, while Baltimore has the highest, at $1,625 per year. The cost of car insurance in some cities might be higher because of population density or higher rates of car thefts. It’s important to explore different companies within your city to find the best rates.

We provided answers to frequently asked questions regarding average car insurance rates in Maryland. Your rates may vary depending on individual circumstances and state-specific factors.