Maryland Automobile Insurance

The average liability only car insurance premiums in the Old Line State are higher than the US figures. But the average rates for full coverage policies are lower than the country average. Unfortunately, ratio for uninsured drivers is at 14.1% and higher than the national average. States with dense populations, such as Maryland, experience elevated accidents and vehicular crimes, influencing the premiums paid by each policyholder. It ranks among the states with the least automobile accessibility, as 9% of households do not own a car.

Collection of Pictures from Maryland

Maryland Car Insurance Laws

Minimum liability coverage requirements are;

  • $30,000 for bodily injury or death per person.
  • $60,000 total for bodily injury or death per accident.
  • $15,000 for property damage.

Maryland also requires:

  • Uninsured Motorist Bodily Injury: $30,000 per person, $60,000 per accident
  • Uninsured Motorist Property Damage: $15,000
  • Personal Injury Protection (PIP): $2,500 (You can waive PIP and choose a limited PIP option)

Maryland Vehicle Insurance Prices

The average premium for the minimum state required car insurance coverage is $815, which is $193 higher than the US average of $622. And the average cost of a full coverage policy is $1,971, which is $43 less than the country average. Usually both types of policies are either higher or lower than the US average but it isn’t the case in MD.

The price difference between a liability only and full coverage policy is fairly narrow in comparison to most other states. It is important to remember that liability coverage doesn’t pay for damages to your own vehicle. Especially if you have a fairly new automobile, you should consider adding Collision and Comprehensive coverage to your policy. Also, you should increase the liability coverage limits to more comfortable levels to be better protected against potential claims against you in case you cause injuries and damages to other people in an accident you are at-fault.

Best-Priced Car Insurance Companies in Maryland

The quotes can significantly differ based on your zip code and the insurance provider you select. To secure budget-friendly premiums, it’s advisable to obtain multiple quotes and then make comparisons. Your search should commence with the following list of the cheapest auto insurance companies in MD. This approach will enhance your likelihood of obtaining cost-effective quotes, as these insurers are known for providing competitive rates throughout the state.

  1. GEICO
  2. State Farm
  3. Erie
  4. Travelers
  5. Cumberland Mutual

You have a few choices of automobile insurers here and these companies are the most competitive in majority of cities in MD, including Baltimore.

Premiums in Baltimore, Maryland

It is by far the largest city and it is no surprise that motorists pay a lot more for auto insurance in Baltimore as average premiums are about 43% higher than the state average. Big cities are know for bumper to bumper city traffic, congestion, increased number of incidents, auto theft and crimes. These factors often result in higher premiums for city drivers.

Interesting Maryland Vehicle Insurance and Driving Facts

  1. Make sure to promptly return your license plates and registration card to any MVA office when you cancel your vehicle insurance or when you sell or transfer ownership of your vehicle. Owners of uninsured vehicles may face penalty fees for each instance of insurance coverage lapse. These fees are structured as follows: a $150 fine for the first 30 days, and an additional $7 fee for each subsequent day, culminating at an annual maximum of $2500 per vehicle. Your registration will be suspended; if you continue to drive, your vehicle might be impounded, and you could face tickets and fines.
  2. Providing false evidence of car insurance may result in a fine of up to $1,000 and/or one year imprisonment.
  3. Here’s a positive note: Maryland stands out as one of the states with the lowest instances of drunk drivers.
  4. It is important to keep a good credit score in MD if you want to get cheap automobile insurance rates because underwriters typically consider your credit score when they calculate your premium. Sadly, motorists with poor credit may have to pay 73% higher premiums on average in comparison to motorists with great credit score, according to Forbes.
  5. In Maryland, it is prohibited to text or hold a phone while driving. For safety and to prevent receiving a citation, opt for a hands-free device or don’t use your phone while behind the wheel.
  6. No matter where you’re seated, wearing a seat belt is compulsory in Maryland. If you’re found without one, you could be stopped by law enforcement and issued a ticket. Violating the seat belt law leads to a fine, but it’s classified as a nonmoving violation. That means no points will be added to your driving record.
  7. According to municipal code of city of Rockville, MD, it is illegal to use profane language, curse or swear on any street, sidewalk or highway.

No matter where you reside in the United States, you have numerous alternatives for car insurance, ranging from different policy types to a multitude of companies available in the market. Therefore, take advantage of this array of choices by conducting a thorough comparison and securing sufficient vehicle insurance coverage for yourself at a reasonable cost.