Cheapest Maryland Auto Insurance Rates – Compare Instant Free Quotes
Get the cheapest car insurance rates in Maryland from multiple companies in less than a minute. By comparing free quotes online, you can easily view the best Md prices from top-rated carriers, and substantially reduce the premium you pay. We help find the policies that are most likely to save you money, while keeping or increasing the coverage you currently have. Our free online quotes allow you to quickly purchase coverage with no fees. Drivers that change policies typically save hundreds of dollars through State Farm, Erie, Penn National, USAA, Progressive, Nationwide and many other carriers. View average 2023 prices by car make and model.
You can also review laws, regulations, and minimum liability requirements for all drivers. Many affordable options are offered to drivers in Baltimore, Washington D.C., and other parts of the state. Average rates are competitive in most areas compared to other nearby areas. Typically, prices are about 10%-15% less expensive than the US average. We publish prices for new and older vehicles, and for drivers of all ages. Premiums are the lowest for drivers between the ages of 30 and 69. Male rates are also slightly higher than female rates. Numerous Senior driver discounts are offered.
Flexible billing, including low down-payments, same-day coverage, and special policies for persons needing SR-22 Bonds or high-risk coverage is also available. Old Line State policies must have liability and PIP benefits, and collision/comprehensive coverage if you are financing your vehicle. We research all major companies that conduct MD business, so you’re always viewing the lowest offers. Both high-risk (non-standard) and preferred policies are offered.
Personalized And Customized Tools And Technology
Our customized quotes, tools, and technology, save you money on your vehicles, homes, boats, RV, motor home, mobile home, and rental property. You can easily compare prices from multiple carriers and view side-by-side comparisons that are personalized to match your requirements. Lower your monthly payment and take advantage of many offered discounts. Persons that work remotely from home may be eligible for additional rate reductions because of decreased vehicle usage.
Our shopping tips and guide to vehicle discounts help you easily determine which policy provides the most savings for the car or truck you own. Both urban and city areas offer dozens of policies that should fit within your budget. If you recently retired, changed vehicles, moved to the state, or are getting your license for the first time, we help you find the lowest monthly premium. If you are considering buying a new vehicle, you can review prices of coverage of multiple cars and trucks before making the purchase.
What Determines Prices?
Auto insurance rates in Maryland are based on many factors that you can control. Your driving record, the age, make, and model of the vehicle you own, how much coverage you have, where you live, what type of deductibles you choose, marital status, and sometimes, your credit score. We take into consideration the information you provide, so we can offer a fast accurate quote, that allows you to quickly view the best rates from other top carriers. Personal and financial information is not needed, and we do not keep data stored. If you are trading one vehicle for another, you can easily compare the difference in premium. All policy reductions should continue to be applied.
Most of these prices include low down payments that are easy on your budget. Or, you can pay for six months and receive a reduction from several companies. If you select an electronic payment withdraw option, there are no extra charges, and often the rate is discounted. Paying by credit card is sometimes acceptable, especially if your policy is about to terminate. If your policy has already lapsed, a short reinstatement form may be required. Many employers offer payroll-deduction options at reduced Group rates. Personalized service and customized policies are always available.
The minimum required liability limits in the state are $30,000 bodily injury per person, $60,000 per accident, and $15,000 property damage. The minimum required amount of uninsured motorist protection is also $30,000 bodily injury per person, $60,000 per accident, and $15,000 property damage. $2,500 of PIP coverage must also be offered by carriers but it is not a requirement to purchase. A carrier can not refuse to insure a motorist because they rejected PIP benefits. Personal Injury Protection offers reimbursement for some medical expenses and lost income, regardless which party was at-fault.
“Full PIP” is when you purchase coverage for all covered residents and drivers in the household. A full portion also does not need to be purchased. “Limited” PIP is when you elect not to purchase any of the benefits. Coverage pays for reasonable and necessary medical expenses that incur within 36 mo0nths from the date of the injury. 85% of actual lost wages are also covered. Although Group and Marketplace healthcare plans cover medical expenses, they do not cover lost wages. Also, funeral expenses are not covered by private or group healthcare plans.
Physical damage (collision and comprehensive coverage) is generally required on leased and financed vehicles. Typical deductible options range from $0 to $5,000. Several of the most common and cost-effective deductibles are $0, $100, and $500 (comprehensive), and $250 and $500 (collision). $1,000 deductibles can be very beneficial for ultra-expensive luxury vehicles. Deductibles can typically be changed throughout the policy period if a current or pending claim is not being processed. Collision and/or comprehensive coverage can also be removed.
How Much Is Car Insurance Per Month In Maryland?
Using the factors listed above, prices will vary depending upon many variables. However, the average monthly cost of coverage at specific ages is shown below:
16-17 – $424
18-19 – $262
20-29 – $135
30-39 – $94
40-49 – $92
50-59 – $86
60-69 – $97
70-79 – $102
Average Rates Based On Several Factors
Like most property and casualty policies, your zip code and/or county of residence, will greatly determine the amount you pay. For example, a family of three drivers in Baltimore, Rockville and Bethesda are not all going to pay the same amount. One city may easily feature premiums 20% lower than the others. Smaller cities, such as Overlea or Rossville will have completely different rates. So although where you reside makes a difference, bigger cities don’t always have higher prices. Also, several carriers determine premiums by county, instead of city.
Your age is also a major determining factor when calculating your premium. Naturally, both males and females under age 21, and with less than three years driving experience will pay the highest Maryland car insurance rates. Obtaining five years of driver’s experience and/or reaching age 30 will help lower the cost you pay. Ages 50 and 65 for both males and females (and older) represent two of the least expensive ages for covering your vehicle. Unless there are health problems present, Senior drivers receive large discounts, especially when defensive-driver courses are completed. Low-mileage discounts also help save money.
Your credit history can not be utilized to help determine coverage eligibility or termination or acceptance of a policy application. If drivers, for example, have excellent credit, carriers often will offer discounted rates. Adverse credit history (such as a bankruptcy) can increase the premium. However, many insurers do not consider credit when underwriting the application and determining the rate. A score of 740 or above will result in the biggest discounts. Scores under 580 may slightly increase the rate with several carriers.
In early 2023, first-time home buyers with higher credit scores began paying higher fees. For example, with a credit score of 740 or above, up to $1,875 of expenses are added for a $500,000 loan. However, applicants with lower scores pay a lower rate. Borrowers who put 15% down (or more) also face higher out-of-pocket expenses.
You can obtain a quote from these carriers if you have an adverse credit rating. You can also request that the carrier inform you how much of the premium was impacted by the credit score. An official credit report is available free once per year. Every two years, your credit must be reviewed, which may result in a lower premium if the score improves. Other available discounts (Senior, alarm system, passive restraint, etc…) will continue to be offered.
What Are The Most Expensive And Least Expensive MD Cities To Insure A Vehicle?
As earlier mentioned, there are several variables that impact your premium. Your zip code (and/or the county where you reside) is only one of these variables, although it often can make a difference as much as 50%. We listed below 10 of the most affordable and costly areas for covering your vehicles. Of course, these results will change each year. Note: Often, cities and towns near the West Virginia and Pennsylvania borders offer low pricing.
Least Expensive Cities
Most Expensive Cities
Which Companies Offer The Best Rates?
Although the cost of your coverage can fluctuate, the carriers in the state that typically offer the most attractive options are Geico, Nationwide, Progressive, USAA, Selective, Esurance, Travelers and Liberty Mutual. Of course, that’s just a partial list since State Farm, Farmers, Cincinnati, Elephant, Cumberland, Encompass, Safeco, Erie, Liberty Mutual, and Allstate (and a handful of other companies) also have very competitive rates in many parts of Maryland. You can also read some of our reviews here.
As additional carriers become available, we will always notify you. Elephant (listed above) has made an entrance in the MD marketplace. They have had some success in nearby Virginia and are expected to expand to other states in the East and South. Although they are a subsidy of a foreign company (Admiral Group), Elephant has more than 2 million customers and is growing. Most recently, the companies with the lowest rates in various counties (Allegany, Garrett, Washington, Montgomery, Calvert, Charles, and St. Mary’s) are: Allstate Indemnity, American National, Brethren Mutual, Geico Casualty, Horace Mann, IDS, Teachers Insurance, and USAA.
Occasionally, newer companies begin conducting business in the state. Often, in an effort to rapidly increase the number of their policyholders, they offer rates below what they should actually cost. Although for the first few months you may rave about what you’re paying, that will quickly change, many times during the first year. For that reason, we typically avoid those types of options. We would rather allow carriers get a few years of solid results and consumer confidence under their belts.
If their loss ratios and complaint ratios are favorable, they will be added to our “recommended” list. The best insurance companies in Maryland can be found on our website in may categories, including property and casualty, and additional ancillary products.
List Of Maryland Auto Insurance Companies Approved To Conduct Business
AIG Property Casualty
Esurance Property And Casulaty
Maryland Auto Insurance Fund
How Our Website Helps You
By using the free tools provided by our website, you can quickly determine what other major insurers charge for similar coverage, and whether it’s worthwhile to switch companies. Of course, if the savings in minimal, it’s not worth switching carriers. However, many customers save thousands of dollars per year on their car insurance premiums. Now that’s worth changing for! And that is not a one-time amount. You’ll likely see that savings each year. Cheap car insurance in Md. is possible and we show you how to find it!
We’ll also help you decide which liability limits and deductibles are best for your vehicles. Although higher deductibles and lower bodily injury and property damages w ll reduce your premium, it isn’t always the best method to cut your rates down. Since it may leave you vulnerable to certain types of claims, sometimes having a better understanding of why Maryland car insurance costs behave the way they do, helps you much more.
However, it’s important to maintain at least the required state minimum liability and property damage limits. Otherwise, a stiff fine, suspension, or both, can be the result. Also, if you fail to provide a copy of your insurance card (or other approved ID) at a traffic stop, a $50 fine could result. A hard copy or electronic copy is acceptable.
For example, reducing your liability limits from $500,00 to $150,000 might save you $100 per year. But is it worth putting your accumulated personal assets at risk by making that change? Also, although removing collision coverage from an older (5-10 years) vehicle will result in a nice price break, are you prepared to risk losing the vehicle in a serious accident? Naturally, vehicles with more than 125,000 miles should not have collision coverage.
Often, purchasing a personal umbrella contract along with slightly tweaking the collision deductible may make better sense. If you own any boats, motorcycles, RVs, or other licensed off-road vehicles, this may have an impact on determining your best options. An umbrella also provides a better “bargaining position” if litigation results from an accident and/or injuries that you caused.
The Maryland Motor Vehicle Administration utilizes the “Customer Connect” program to help consumers complete transactions online. Although local MVA offices remain available, many services can be completed without visiting the physical location, lowering the need for many paper forms. Notifications regarding proof of coverage are one of the most common transactions handled. The MDOT MVA eStore can handle registration and title pre-applications, motor carrier services, and business licensing.
Disability products can also be approved online. Plates and placards eligibility can be processed by medical companies, and the progress can also be verified without a personal trip to a local office. Correspondence can be viewed and payments can be made. A free registration benefit is offered to disabled veterans who want personalized or specialty license plates. Through the “Customer Connect” program, all plates can be registered free for veterans. More than 2,500 companies have created accounts to help simplify their service needs.
Maryland Automobile Insurance Fund (MAI) For High Risk Drivers
The MAI is a consumer-friendly organization that was established in 1972. Its purpose is to provide affordable liability coverage to persons that can’t qualify for their own policy through the private marketplace. It is an independent division of the government, but only receives funds from the premiums it collects. Five years ago, the program changed its name from MAIF to Maryland Auto Insurance (MAI). Drivers with poor credit, a history of lapsed policies, and living in households with other high-risks, can be helped.
So how can the MAI help you? If you have been tuned down (declined) by at least two companies or your policy was canceled for reasons other than not paying your bill, you may be eligible to obtain cheaper rates than you were previously paying. It’s easy to get a quote (by providing your zip code). The MAI actually handles many of the claims you submit and is also regulated by the MD Department of Insurance. When moving violations and at-fault accidents begin to disappear from your driving record, a conventional standard policy may become available, which should lower premiums.
Take Advantage Of Discounts
Sometimes the key to paying the least amount of premium, is simply the discounts that are applied to your policy. Many of these cost-cutting ideas may be available, but you’re not aware that they exist. Typically, the multi-car, good student and good driver discounts are the most popular discounts, and most drivers are fully aware of them. Your credit could also be a factor in the underwriting of a policy, and we’ll show you what credit scores will help you the most. If you have less than desirable credit, we can identify the options that place the least emphasis on your credit. Many companies do not consider your credit rating when determining rates.
Several companies offer a “low mileage” rate reduction, along with additional discounts if your car is parked inside a garage at night. Since the risk of theft or weather damage reduces, the discount could be as much as 10%-20%. And there are many more cost-cutting ideas that we can provide. “Pay As You Drive” options are slowly being introduced. If you don’t drive much, you’ll be rewarded with better rates. An electronic dashboard monitor records your driving data, and will provide the information directly to the carrier. Since premium-reducing offers are constantly changing, we closely monitor any new ideas.
Credit history may be considered when a carrier is underwriting the initial application. Only five years of relevant credit facts may be used in determining the rate. Applicants must be notified that their credit history is a factor in the application process. After the policy is issued, future negative changes to your credit will not impact the cost of coverage. However, if the score increases, your rate can reduce, since insurers are required to review scores every two years.
24/7 Service Including Free Online Quotes
We are dedicated to providing outstanding service, keeping you updated on any changes in state requirements from the BMV, and making sure that you’re always getting help with any claim, state filing or other service-related issue. And of course, we will always provide you with the lowest and cheapest car insurance rates in Maryland. Whether you are leasing or purchasing a vehicle, we provide customized quotes to maximize your savings. Payroll-deduction is often available through Employer-provided Group plans. Prices are often discounted up to 15%.
If you feel you are a victim of fraud regarding an accident that you are involved with, or a vehicle that was purchased, there are remedies available. When accidents or injuries are falsified, you can call (800) 846-4069 (Md Insurance Administration) and report the details. You may also mail details of the alleged fraud and you will be promptly contacted.
Additional Information From The Past:
A recent major research study shows that Maryland drivers are least likely to see their auto insurance increase following an accident. Massachusetts and California drivers are the most likely to see their prices climb. Multiple incidences will result in more substantial changes to their policy. Naturally, each company utilizes their own unique underwriting criteria with specific surcharge percentages.
Rates have remained fairly stable and we expect the same trend in the future, although certain pockets of the state will see more increases. Many of the newer vehicles offer more standard safety devices, which is helping stabilize prices. If you are unsure what devices you currently have, you can send or fax your vehicle serial number to your current company, and they can verify all of the applicable discounts are being applied.
A new federally-sponsored cellphone app may reduce the incidence of drunken driving in Maryland. ENDUI was introduced this month and informs drivers (Hopefully BEFORE they get behind the wheel) how impaired they may be. By entering some basic information (height, weight, sex, and number of alcoholic drinks), the current blood-alcohol level can be determined.
Several simple games are provided to verify reaction times and how quickly a visible risk is recognized. If needed, local cabs can be notified along with any family member or friend whose phone information has been entered on your phone. The Governors Highway Safety Association has provided financial backing for the entire program and the Maryland Highway Safety Office also supports the endeavor.
Baltimore and New York have the greatest disparity in car insurance rates when comparing black and white communities. The research completed by the Consumer Federation of America (CFA) noted that the disparity in prices was often as much as 50%.
Carriers utilize claim data (and projected losses) to determine passenger rates. If the prices can be justified, the Department of Insurance will approve requests. Credit scores and policy discounts can also influence pricing.