How much does car insurance cost? Drivers with excellent credit could save about 14 percent, while those with bad credit could pay up to 63 percent more than the average cost of car insurance in Maryland. 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. 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. According to MoneyGeek research, Maryland is the fifth most expensive state in terms of car insurance rates due to an unfortunate combination of high traffic density, a large percentage of uninsured motorists, a high urban population, and frequent car thefts.
These average rates may not reflect how much each individual Maryland driver will pay for car insurance. MoneyGeek looked at factors that have a big impact on your car insurance rate to determine the average cost of car insurance in Maryland. If you cause an accident at fault, the average cost of car insurance in Maryland increases by 51 percent. However, people with bad credit can still find relatively cheap car insurance coverage in Maryland if they compare prices.
A man in his early twenties will pay 7 to 9% more in car insurance premiums than a woman in the same age range. For more information about car insurance rates in Maryland, see the answers to the following frequently asked questions. In most cases, cities that are densely populated or that are highly likely to suffer traffic accidents and natural disasters attract high rates of auto 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.
Traffic density, the frequency of accidents, thefts and acts of vandalism, and weather-related events can contribute to auto insurance premiums in Maryland. The cost of car insurance varies significantly depending on your age, driving history and the coverage you choose. All insurance products are governed by the terms of the applicable insurance policy, and all related decisions (such as coverage approval, premiums, fees and charges) and policy obligations are the sole responsibility of the insurance insurer.
Leave a Comment