Maryland is small, but it has over 44.000 drivers. Its roads are busy. The state experienced nearly 116,000 crashes in 2018, the latest year for which data is available. This resulted in 48,658 injuries, and 535 deaths. You can protect your finances by finding the best Maryland car insurance.
Maryland drivers pay an average $767 per annum for minimum coverage, and $1,877 for full coverage. Maryland requires drivers to have minimum coverage for auto insurance. However, there are ways to save. Bankrate’s editorial team in insurance has done extensive research to find affordable car insurance in Maryland.
Maryland’s cheapest car insurance company
Quadrant Information Services and Bankrate have partnered to provide the most current premium information for major Maryland insurance companies. The following five companies have the lowest average premiums, according to our research.
All over the country
Nationwide has the lowest average minimum coverage and highest average full coverage premiums. Drivers have the ability to tailor their coverage with options such as gap coverage, roadside assistance, and accident forgiveness.
Although Nationwide’s average premiums are relatively low, the company offers many discounts that can help you save even further. A defensive driver, owning a vehicle with safety features, signing up for automatic payments, or having more than one Nationwide policy may get you a discount.
USAA is not available to military personnel and their immediate families. However, if you are eligible, you will have access to highly rated customer service and low average premiums.
You might be able to save money if your vehicle is stored on a military base, or while you are deployed. Savings can also be made by being a safe driver and owning and insuring new vehicles, driving low-mileage, or spinning off a parent’s policy.
Geico is the U.S.’s largest auto insurance company. Geico offers affordable pricing for full and minimum coverage, as well as a wide range of discounts. The company doesn’t offer many optional coverages but you can add rental reimbursement, emergency road service and mechanical breakdown coverage.
Geico may be a good option for Maryland drivers who are budget conscious.
Savings may be possible if you are a student, federal employee, or military member. Safety features, multi-vehicle, multi-policy and multi-vehicle discounts are also available.
Erie is a regional insurance provider that sells its insurance in 12 states including Maryland. Erie’s full coverage premium is the most expensive on our list. However, Rate Lock could be an attractive option for many drivers. Your premium will increase only if you make changes to your policy like adding a driver or buying a new vehicle.
Bundling, prepayments and young drivers discounts can be used to reduce your Erie premium. Erie rates are also quite high in 2020 J.D. Erie scored 880 out 1000 in the 2020 J.D. Claims Satisfaction Study. This is higher than the industry average.
Allstate offers lower than average rates for full coverage, even though its minimum coverage is more expensive than Maryland’s. If you’re looking for extensive optional coverages, Allstate may be an option. You can add coverage for your ridesharing coverage, roadside assistance, and sound system.
Allstate doesn’t skimp on discounts. There are some ways to save money: Anti-lock brakes, anti-theft devices, signing up for paperless statements, or automatic withdrawals.
Maryland drivers can get affordable coverage
- $30,000 per person for bodily injury
- $60,000 per accident for bodily injury
- $15,000 for property damage
- $30,000 per person uninsured motorist for bodily injury
- $60,000 bodily injury to a motorist who is not covered by insurance.
- $15,000 property damage by an uninsured motorist
- $2,500 personal Injury Protection (PIP),
These are the minimum limits. Maryland drivers might want to carry higher limits in order to protect themselves against costly claims. You will not be covered for any damage to your vehicle if you have minimum coverage. You will need full coverage if you want to get comprehensive or collision coverage.
Maryland: How to Get Cheap Car Insurance
Although some car insurers are more expensive than others there are still ways to save money on your car insurance.
- Compare rates: There are many factors that influence your car insurance rate. It is worth taking the time to compare quotes from different companies, and comparing pricing, coverages, and discounts. This could help you get the coverage you want for less.
- Ask about discounts: Insurance companies may offer additional incentives or savings that lower premiums. For example, low mileage discounts for occasional drivers and student discounts for good grades.
- Keep a high credit score. Your credit rating plays a major role in how much insurance you pay. Paying down your debts on time and making timely payments can improve your credit score and lead to a higher auto policy rate.
- Increase your deductible: A higher collision or comprehensive deductible will usually result in a lower premium. You should remember that while higher deductibles can result in lower rates, they also mean more out-of pocket expenses in the event you have to file a claim.
- You can improve your driving record. If you have tickets or other violations, your auto insurance premiums will be higher. Insurance companies offer discounts for drivers who pass a driver’s education or safe driving course. They also offer discounts for those who are ticket-free for a specified period of time.
Talking with your insurance agent can help you find more savings opportunities.
Questions frequently asked
What is the best Maryland car insurance?
Your specific needs will determine the best auto insurance Maryland. It is best to compare multiple quotes to determine which provider is best for you.
What is the average cost for car insurance in the United States?
The average cost for auto insurance in America per year is $565 for minimum coverage and $1674 for full coverage. Maryland drivers pay higher average premiums, which are $767 for minimum coverage, and $1,877 to get full coverage. The cost of auto insurance premiums can vary depending on many factors. Your premium could be higher than average.
What factors impact my insurance premium?
Your driving record, credit score and driving habits all impact the cost of your auto insurance premium. Each auto insurance company may have a different rating system, and weigh these factors differently. The cheapest auto insurance company may not be the best for everyone.