Maryland Auto Insurance Rate Comparisons

The State of Maryland is known for great seafood, baseball, and beautiful countryside. It is also one of only two states which does not allow credit scores to be used in determining insurance rates, so it is likely that you will receive lower premiums here than in other states if you have poor credit.

maryland auto insurance - freeway overpassAverage car insurance premiums in Maryland run $1,923.72 for one year, as compared to a national average of $1,436.87.

Within this average, however, there are several factors which will greatly influence how much you pay for Maryland car insurance.

1) Where you live. In Baltimore, the average cost for one year’s worth of car insurance is $2,496.64. In Columbia, the average was $1,966.08.

In Cumberland, the average was only $1,620 per year. Clearly, where you live in Maryland can change your average yearly premiums by close to $1,000 per year.

This is because those who live in the I-95 corridor or close to large cities traditionally have a higher number of claims and consequently higher premium rates.

2) Your age. Average car insurance premiums are figured for all age groups, so your rates may be much lower if you fall into a “good” age bracket, generally considered to be over 25 and under 65. Young drivers and the elderly can expect to pay far more in premiums.

3) Your driving record. Of all the things which influence your premium costs, this is probably one of the most important. A single speeding ticket or “fender bender” can shoot your premiums skyward, where they will stay until the incident “drops off” your record at the DMV.

4) How much coverage you choose. Maryland’s liability minimums are $30,000 for one person and $60,000 for one accident for bodily injury liability; $15,000 for property damage; and $30,000 per person and $60,000 per accident for uninsured or underinsured motorists.

Maryland is also one of the few tort liability states which requires personal injury protection, in the amount of $2,500 minimum. Personal injury protection, or PIP, pays for medical expenses for you or passengers in your car if you are injured.

You can choose to raise these minimum liability limits, and many people do. Since Maryland is a tort liability state, you are personally responsible for any damages over and above the stated limits on your policy, so if you own property or have substantial assets which could be seized by a plaintiff in a lawsuit, you may choose to raise your limits, and your premium prices.

Many people also choose to add additional coverage to their policies, such as comprehensive or collision insurance. These additions will increase your premiums, but will give you more coverage in case your car is stolen or damaged in some way.

5) Discounts for which you may be eligible. You can get discounts for insuring more than one vehicle, for combining your homeowners and auto insurance, or for drivers’ education, among other factors.

These discounts can substantially lower your cost of insurance and allow you to choose additional coverage or increase your liability limits.

You have a great amount of control over your Maryland automobile insurance costs by how much coverage you choose and the company you choose to carry your insurance.

Shop around for better deals with competitive insurance companies; you might be surprised how much you can save by doing a rate quote comparison with several companies.

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