You’ve come to the perfect place if you’re a Maryland resident searching for car insurance. Choosing the right insurance can be complicated, but I will help you navigate it. Maryland mandates minimal insurance coverage to register and operate a car within its borders. This comprehensive guide will help you get the most affordable car insurance policy in Maryland from the most reputable insurers in the state.
Maryland Car Insurance
Maryland requires all drivers to have car insurance. The minimum coverage required is:
- $30,000 for bodily injury to one person
- $60,000 for bodily injury to two or more people
- $15,000 for property damage
Maryland car insurance can be purchased either from a private company or the Maryland Automobile Insurance Fund (MAIF). If you’re having trouble finding car insurance through a private firm, you may be eligible for coverage through MAIF, a government-run program.
The policyholder’s age, driving history, and car type affect auto insurance rates in Maryland. To compare costs, you can get quotes from many providers. Having car insurance is essential in case of an accident. Automobile insurance might pay for your medical bills, car repairs, and other costs you incur due to an accident.
Consider getting additional coverage, such as collision and comprehensive, in addition to the required minimum. If you are involved in an accident, regardless of fault, collision coverage will help pay for the damages to your car. Comprehensive insurance will pay for damage to your car that did not result from an accident, such as vandalism or theft.
Even the state-mandated minimum coverage in Maryland might not cover everything. Consider buying larger coverage limits if you have valuable assets like a home or business you wish to safeguard.
In summary, consult an insurance representative if you are unclear about the level of auto insurance protection you require. They’re there to guide you through the maze of insurance policies and help you choose the best one.
Maryland Car Insurance Coverage
A few important components contribute to getting your car’s insurance coverage in Maryland, whether you have a car or not. The age restriction and the type of car both have an impact on car insurance.
Some insurance companies charge different prices based on age, state, geography, and driving history. All of the best car insurance companies in Maryland handle violations uniquely. Some may search back two years, while others will look back three years for any offences in their driving history. Similarly, the type of car affects insurance rates. A fancy or sporty automobile will cost more to insure.
All drivers in Maryland are required by law to have automobile insurance that covers at least $30,000 in bodily injury per person, $60,000 in bodily injury per accident, and $15,000 in property damage. Insurers must also include $2,500 in personal injury protection unless you decline the policy in writing. Even though personal injury protection is included with every policy, Maryland is not a no-fault state.
To verify your insurance status, your insurer must submit an FR-19 form—Maryland’s insurance certificate—on your behalf to the Maryland Motor Vehicle Administration (MVA).
Maryland Car Insurance Requirements
An official Maryland car insurance policy includes liability insurance, uninsured or underinsured motorist coverage, and personal injury protection. Following an accident, these coverages pay for the other party’s medical bills, automobile repairs, and some of your own. Here’s a more in-depth look:
#1. Body injury (BI): $30,000 per individual, $60,000 per accident
Requirement:
- $30,000 for each injured individual
- $60,000 per accident for two or more wounded people.
Covers:
- Your personal belongings
- Legal fees are up to the maximum if the other party sues you.
Does not cover:
- Your medical expenses
#2. Property damage (PD): $15,000 per incident
Requirement:
- $15,000 for each accident
- Higher limits are available; however, they vary per insurance.
Covers:
- Everything damaged by the other driver’s automobile
- Other property damaged in the accident (buildings, fences, and so on)
#3. Uninsured/Underinsured Motorist (UM/UIM) Protection
For uninsured or underinsured motorist bodily injury (UM/UIMBI) coverage:
- Up to $30,000 per individual
- Up to $60,000 in damages per accident
Uninsured or underinsured motorist property damage (UM/UIMPD) coverage
- $15,000 for each accident
- You must pay a $250 deductible for each accident claim you file.
Covers:
- Your medical bills
- Your car’s repairs
Maryland Car Insurance Rates
In Maryland, car insurance rates are more expensive than the national average. Nonetheless, there are still options for low-cost auto insurance in Maryland. The most current review of full-coverage car insurance rates from Quadrant Information Services shows that Geico is the cheapest insurance company for most drivers in Maryland, with yearly rates of $1,245 or $104 per month on average.
USAA has the lowest rate for minimal coverage in Maryland, at $471 annually or $39 monthly. However, the insurer is exclusive to active-duty personnel, veterans, and their families.
Full-coverage auto insurance in Maryland for a 35-year-old driver with outstanding credit and a clean driving record costs an average of $1,833 annually or $153 monthly.
The amount of coverage you choose might impact your car insurance rates. Providers often include costs for both minimum-liability and full-coverage policies in their automobile insurance rates. While state law may mandate the bare minimum of liability insurance, drivers should examine the benefits of a comprehensive policy.
Some insurance companies charge varying rates based on age, state, geography, and driving history. All of the best car insurance companies in Maryland handle violations uniquely. Some may search back two years, while others will look back three years for any offences in their driving history. Similarly, the type of car affects insurance rates. A fancy or sporty automobile will cost more to insure.
Best Maryland Car Insurance
The sections below include more thorough information for anyone interested in learning more about Maryland’s best car insurance providers.
#1. Geico: Best for Money-Saving Drivers
In 1936, when it first opened its doors, Geico insured just federal workers under the name Government Employees Insurance Company. Geico coverage is now available to drivers in all 50 states and the District of Columbia.
Fortunately for Maryland motorists, Geico came out on top in our analysis of car insurance providers across the country, and it’s also the best choice for drivers in the Old Line State. According to recent research, Geico delivers top-tier service, various coverage options, and low-cost add-ons.
#2. USAA: Best for Military Personnel
USAA easily offers the most affordable rates for high-quality car insurance in Maryland. The company only sells things to service members, veterans, and their families. This means that not everyone in Maryland will be able to obtain coverage.
Furthermore, if you are eligible for USAA car insurance, contact the business for a quote. Regarding Maryland car insurance, USAA’s rates generally cost hundreds of dollars less per year than any other company. Further, according to industry experts, those prices also offer exceptional service.
#3. Erie Insurance: Best for Basic Insurance Protection
Basically, Erie Insurance is the most suitable option for anyone seeking basic insurance coverage. Erie Insurance is exclusively accessible in a limited number of states, with Maryland being one of the places where it operates. The regional provider offers various discounts, is considered among the most competitive in the market, and offers car insurance at very affordable prices in Maryland.
Users in Maryland express a high level of satisfaction with the insurance coverage that Erie Insurance offers, in addition to offering affordable auto insurance rates.
#4. Progressive: Ideal for Advanced Drivers
Overall, Progressive has some of Maryland’s best car insurance rates for certain categories of drivers. Progressive, for example, offers some of the lowest car insurance costs to drivers with bad credit. While this is not true for all folks, the company is surely worth considering.
#5. State Farm: Outstanding Customer Service
Maryland is one of the 48 states where State Farm, the nation’s largest auto insurer, provides coverage. Though it does not offer the cheapest car insurance in Maryland, the company does have its advantages.
State Farm provides considerable discounts to teen drivers and students, who generally pay the highest rates for car insurance coverage. The company’s mobile app has received positive feedback on both Google Play and the Apple App Store, with many users praising the software’s simplicity and user-friendliness.
Maryland Car Insurance Minimum
Maryland’s minimum auto insurance requirements are as follows:
1. $25,000 per person for injury liability
2. $60,000 per accident for bodily injury liability
3. $25,000 for property damage liability per accident
4. $15,000 for property damage from an uninsured driver
5. $30,000 for uninsured motorist bodily injury
6. $2,500 allotted for health care costs
Collision and comprehensive coverage are optional but something you should consider. No matter who is blamed, collision insurance will cover the costs of fixing your vehicle. Theft, vandalism, and natural disasters are all covered by comprehensive insurance.
Remember that the state of Maryland only mandates minimal coverage when it comes to auto insurance. If you have a modern car or a lot of assets, you should get more than what the bare minimum requires.
What Does Maryland Require for Car Insurance?
At this point, Maryland mandates minimum liability limits of 30/60/15, or $30,000 per person, $60,000 per accident, and $15,000 for bodily injury and property damage. To protect your investments, consider setting higher limitations.
How Does Car Insurance Work in Maryland?
State law requires you to have a minimum of $30,000 in bodily injury liability coverage per person and $60,000 per accident, $15,000 in property liability coverage, and identical amounts of uninsured or underinsured motorist bodily injury coverage, as well as $2,500 in Personal Injury Protection coverage.
What Is the Basic Insurance Coverage in Maryland?
You must carry a minimum of $30,000 in bodily injury coverage per person, $60,000 in bodily injury coverage for two or more individuals, and $15,000 in property damage coverage. Your insurance provider or agent can provide coverage that exceeds the bare minimum.
How Much Is Car Insurance Per Month in Maryland?
In Maryland, the average cost of auto insurance is $1,128 per year, or $94 per month for full coverage. Your coverage and your driving record are two things that significantly influence your premiums.
How Much Does It Cost to Get an Insurance License in Maryland?
An online application costs $54 plus a $5 NIPR charge for $59. There is no charge to add another line of authority to your license later; you must take the pre-licensing course and pass the exam.
Is Insurance Expensive in Maryland?
The average yearly cost of car insurance in Maryland is $1,468. This is less than the national average of $1,543. According to this study, USAA has the lowest sample rate in Maryland, at $790 per year.
How Much Is Car Insurance for a New Driver in Maryland?
The average premium for a 16-year-old driver in Maryland is $7,065 per year or $589 per month. This is more than 389% higher than the state’s average rate for a 35-year-old motorist.
How Much Is Car Insurance for a 20-Year-Old in Maryland?
Full coverage auto insurance for a 20-year-old male averages $329 monthly.
Which Insurance Is Cheaper for Maryland?
Geico offers the most affordable liability insurance in Maryland, with monthly costs of around $42 and annual costs of around $508
Conclusion
Now comes the big question. Is automobile insurance required in Maryland?
Yes!
You must have car insurance in Maryland. Driving uninsured is a serious criminal offense in the Old Line State, punishable by up to a year in prison, a $1,000 fine, and five points on your license. Thank you for reading this in-depth article, and I hope you found the information you were looking for.
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