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Cheapest Car Insurance in Maryland: Everything You Need to Know

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If you’re looking for the cheapest car insurance in Maryland, you have a few options. However, your rates will vary depending on things like your driving record and location within the state.

What Is the Cheapest Car Insurance In Maryland?

The cheapest car insurance provider in Maryland will depend on your age, location, gender, and driving record. On average, however, the following providers usually offer the cheapest insurance rates in Maryland:

  • Travelers: Average rate of $81 per month
  • Erie: Average rate of $97 per month
  • GEICO: Average rate of $99 per month
  • USAA: Average rate of $107 per month
  • Kemper: Average rate of $113 per month
  • State Farm: Average rate of $125 per month
  • Metropolitan: Average rate of $128 per month
  • Allstate: Average rate of $130 per month

    These rates are based on minimum coverage levels. According to WalletHub, Maryland is actually one of the most expensive states for insurance. However, that doesn’t mean that you can’t find ways to save.

    If you want the cheapest full coverage rates in Maryland, you might consider:

    • Travelers: Average annual rate of $1506
    • Erie: Average annual rate of $1619
    • GEICO: Average annual rate of $1685
    • Nationwide: Average annual rate of $1827

      It is important to note that most full coverage policies also come with a deductible. A deductible is an amount that you have to pay to access your benefits. While you can adjust your deductible amount, it will also have an effect on your rates. If you choose a higher deductible, you will have to pay more out-of-pocket following an accident but you will have cheaper monthly rates.

      You can also pay a little more each month to have a cheaper deductible which may be useful if you have to file a claim.

      Maryland’s Minimum Insurance Requirements

      One thing to keep in mind as you price shop for the best insurance rates is the minimum insurance requirements of the state. All Maryland drivers must have an insurance policy of at least:

      • $30000 bodily injury liability per person
      • $60000 bodily injury liability per accident
      • $15000 property damage liability per accident
      • $30000 uninsured/underinsured motorist coverage per person
      • $60000 uninsured/underinsured motorist coverage per accident
      • $15000 uninsured/underinsured property damage liability per accident

        While these are the state minimum requirements set by law, Nerdwallet recommends buying additional coverage for some drivers. These coverages only protect you if you cause injuries or damages to another driver. In order for your medical bills and property damages to be covered following an accident, you will need a full coverage policy with comprehensive and collision coverage.

        How Your Driving Record Affects Your Insurance in Maryland

        Your driving record is one of the biggest factors that go into your rates. Drivers with clean driving records who don’t have DUIs or traffic violations will usually receive the best rates. If you have a good driving record, you might consider insurance providers like Travelers and GEICO.

        Your insurance rates can increase for as long as five years following a speeding ticket. Each insurance company calculates things like a speeding ticket or a DUI differently. If you have a less-than-perfect driving record, it is even more important to price shop and compare quotes. Drivers with traffic violations on their record usually find the best rates with Erie, Travelers, USAA, and State Farm.

        Other Factors That Can Affect Your Insurance Rates

        Other, less controllable, factors can also affect your insurance rates. Age is one of the biggest and teen drivers will almost always pay higher insurance rates. Drivers between the ages of 16-24 pay the highest rates because they have less experience driving. The best insurance companies for younger Maryland drivers are usually with Travelers and GEICO. Drivers may notice an increase in rates again in their 60s and 70s. Travelers and GEICO also usually tend to have the best rates for older Maryland drivers.

        You might be surprised that your location within Maryland can also change your rates. Maryland cities that have more traffic or higher rates of theft will usually have higher rates.

        The most expensive cities in Maryland are usually Baltimore, Gwynn Oak, Dundalk, and Parkville. Baltimore residents can pay as much as 168 percent higher rates than Maryland’s average. You may be able to offset some of these costs by qualifying for discounts. Even your marital status can impact your rates. Married drivers can save as much as $12 per year. With so many factors that go into calculating your rates, it is important to gather quotes that are designed for you.

        Best Insurance Companies in Maryland

        In addition to cost, you also want to consider the reputation of the insurance company you choose. These ratings are based on customer satisfaction when filing claims. The top insurance companies in Maryland based on customer ratings include:

        • USAA: Customer satisfaction rating of 78 percent
        • State Farm: Customer satisfaction rating of 73 percent
        • Allstate: Customer satisfaction rating of 72 percent
        • Progressive: Customer satisfaction rating of 74 percent
        • GEICO: Customer satisfaction rating of 64 percent
        • Travelers: Customer satisfaction rating of 19 percent

          While USAA may have the highest customer satisfaction ratings, they are only available to active military members. The specific insurance company that is best for you will depend on many factors, including your location and driving history. Comparing quotes from a few of these providers is the best way to find the cheapest car insurance in Maryland.

          You may also want to compare quotes again, anytime you renew your policy. Insurance companies are regularly changing their rates. If your provider increases your rates, it is time to shop around.

          The cheapest car insurance in Maryland will differ for drivers based on their personal factors. You can begin shopping for car insurance by requesting quotes from a few of the top providers and then comparing things like coverage level, deductible amount, and overall customer satisfaction ratings. Check this out if you need additional information, resources, or guidance on car insurance.

          Sources:

          Cheapest Car Insurance in Maryland I wallethub.com

          Best Cheap Car Insurance in Maryland I nerdwallet.com

          Car Insurance Deductibles: Everything You Need to Know I caranddriver.com

          Cheap Car Insurance In Baltimore, Maryland I caranddriver.com

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