How much does car insurance cost?. It's important for Maryland drivers to know the minimum car insurance requirements to comply with the law. Experts recommend that drivers purchase full-coverage insurance with liability limits as high as they can afford to protect against unexpected events. Different areas represent more or less risk depending on factors such as crime rate, traffic, car thefts and population density.
Insurance companies research the risks in each area and then use that knowledge to determine how much they can charge for premiums. Similarly, if you get a speeding ticket in Maryland, you're likely to see an increase of up to 30% in what you pay for car insurance when you renew your policy. You'll generally pay more for three years. However, the increase in your rate also depends on state laws, your insurance company, and your driving history.
But even with a traffic ticket, comparing prices can save you money. Fortunately, there are ways that high-risk drivers can reduce the amount they must pay for premiums. Searching for prices and comparing quotes is a good starting point, as each company will have its own pricing structure specifically adapted to individual needs. Use the tool below to see which company offers the cheapest rates for drivers with speeding tickets, drunk driving convictions, and at-fault accidents.
Select your state and risk factor below to view the insurance company and its average annual total coverage rates. Maryland drivers can save hundreds of dollars by comparing prices and quotes. While there are many factors that influence the cost of your car insurance, from driving history to the type of car, there are many options to get the coverage you need at a price that fits your needs. Start your search for the best car insurance policy in Maryland by collecting quotes from several insurers for comparison.
Below is a breakdown of auto insurance companies in Maryland and their average annual premiums. Select your city below to see the insurance company and their average total coverage rates. Ultimately, understanding your needs to find the best policy at the most competitive price is key. Compare prices to find a good deal that gives you peace of mind when you hit the road in Maryland.
Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. He is passionate about making insurance topics easy for people to understand and helping them make better financial decisions. When she's not writing, you can find her reading a book or watching anime. It helps manage the creation of insurance content that meets the highest quality standards in terms of accuracy and clarity to help Bankrate readers search for complex information on home, auto and life insurance.
Maryland has a high rate of uninsured drivers, a high traffic density as a result of its high urban population and frequent car thefts. Comparing prices and comparing quotes could help you find the cheapest car insurance company in Maryland for you. According to the Insurance Information Institute, metropolitan areas are also likely to have higher auto insurance rates. If you're new to the state and looking for car insurance coverage, or if you've lived in Maryland for years and want to know how much car insurance costs in Maryland, you can find the information you need here.
But if you live in Columbia or Germantown, you could pay about 7 or 8 percent less than the average cost of car insurance in Maryland. To get an idea of how much you should pay for your car insurance in Maryland, it would be best to consider how much drivers with your profile typically pay. Full-coverage car insurance policies are the most expensive, but they provide much more protection, since they cover your own vehicles against accidents, thefts, natural disasters, and collisions with animals. These average rates may not reflect how much each individual Maryland driver will pay for car insurance.
Cars that are considered more expensive to repair, such as luxury cars and electric vehicles, can make their rates higher than those that may cost less to repair. In Maryland, high-risk drivers pay more for car insurance than other drivers because they are considered to be at higher risk. The cost of car insurance varies significantly depending on your age, driving history, and the coverage you choose. If you cause an accident at fault, the average cost of car insurance in Maryland increases by 51 percent.
Although it is generally less expensive than a full coverage plan, liability insurance does not protect against an accident or theft of the insured vehicle. MoneyGeek evaluated factors that have a big impact on your car insurance rate to determine the average cost of car insurance in Maryland. .