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

In Maryland, residents can expect to pay around $1,506 a year for full coverage car insurance. Those opting for the minimum coverage will see a yearly cost of around $876.

When calculating your car insurance premium, your age, the level of coverage you choose, where you live, your driving record and your credit score all affect 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 about $1,506 annually, $126 monthly. Knowing the average cost helps determine whether an insurance quote is high or affordable. Compare car insurance quotes to see if you're paying too much.

Here's what you might pay for auto insurance in Maryland. Whether you opt for minimum or full coverage, these numbers offer an estimate for your monthly and yearly insurance expenses.

Car insurance in Maryland can be considered moderately expensive. Comparing Maryland's rates to the national average cost of car insurance, Maryland's average annual premium for full coverage with a $1,000 deductible is $1,506, which is higher than the national average cost of car insurance for similar coverage at approximately $1,337 annually. The monthly premiums also reflect this difference, with Maryland at about $126 and the national average at roughly $111.

The cost of car insurance in Maryland is influenced by factors such as the state's dense population in areas like Baltimore and the increased likelihood of accidents and theft. Urban environments with high traffic congestion can lead to more accidents, which may increase insurance premiums. Additionally, higher repair costs, severe weather conditions, and the cost of health care 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. In Maryland, Nationwide offers the most affordable full coverage at an average annual cost of $1,310, while Allstate has the highest average premium at $2,189 per year.

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 your selected coverage level. In Maryland, opting for minimum coverage roughly costs around $73 monthly, whereas full coverage with a $1,000 deductible is about $126 monthly. Despite the higher price tag, full coverage is often recommended for its extensive protection.

When you include comprehensive and collision coverage in your policy, premiums will increase; however, selecting a higher deductible can mitigate the rise. You would be responsible for the deductible amount with each claim under both comprehensive and collision coverage.

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 around $1,041 per year, while Baltimore averages $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 $1,751 annually or $146 monthly. As drivers mature, they often see lower rates, averaging about $1,506 for those aged 30 to 59.

However, premiums slightly increase for drivers 60 and older, averaging $1,646 — reflecting the trend that younger 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 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 an average premium of $6,272 per year.

The average annual cost for full coverage car insurance for a 2012 car model is $1,163, while the same coverage for 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.

Experts recommend that drivers of newer models consider comprehensive and collision coverage, which can protect against a broader 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: $1,798 per year; $150 per month
• With an at-fault accident: $2,233 per year; $186 per month
• With a DUI: $2,196 per year; $183 per month

The more severe a driving violation is, the more you'll likely pay for car insurance in Maryland. These additional costs will stay as long as the violation is on your record, with the length of time differing in each state. For instance, DUI convictions in Maryland can remain 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. Other violations could lead to higher costs from particular insurers in several states.

Check the table for detailed information on the average cost of insurance in Maryland, based on the 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 $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 to 850), good (690 to 719), fair (630 to 689) and poor (300 to 629).

Understanding the factors influencing 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 use 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 you budget accordingly and choose policies that best meet your needs.