Updated: November 14, 2024
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In Maryland, residents can expect to pay around $1,570 a year for full coverage car insurance. Those opting for the minimum coverage will see a yearly cost of around $910.
When calculating your car insurance premium, your age, the level of coverage you choose, where you live, your driving record, and your credit history all affect how much you'll pay. Each of these factors can either increase or decrease the cost of your plan, impacting whether it's cheap or affordable.
MarylandCar InsuranceCostsWhy Trust MoneyGeek? To pinpoint the most precise average costs for various drivers across Maryland, MoneyGeek compiled data from Quadrant Information Services and the Maryland Insurance Administration. This was done using sample driver profiles that reflect the typical criteria insurers use to determine premiums.
These rates reflect the average cost of car insurance in Maryland as of November 2024.
Maryland's average full coverage car insurance cost is about $1,570 annually, $131 monthly. Knowing the average cost helps determine whether an insurance quote is high or affordable. Compare car insurance quotes to see if you're paying too much.
Here's what you might pay for auto insurance in Maryland. Whether you opt for minimum or full coverage, these numbers offer an estimate for your monthly and yearly insurance expenses.
| 100/300/100 Full Cov. w/$1,000 Ded. | $1,570 | $131 |
| 100/300/100 Liability Only | $1,096 | $91 |
| State Minimum Liability Only | $910 | $76 |
Car insurance in Maryland can be considered more expensive compared to the national average cost of car insurance. Maryland's average annual premium for full coverage with a $1,000 deductible is $1,570, which is higher than the national average cost of car insurance for similar coverage at approximately $1,358 annually. The monthly premiums also reflect this difference, with Maryland at about $131 and the national average at roughly $113.
The cost of car insurance in Maryland is influenced by factors such as the state's dense population in areas like Baltimore and the increased likelihood of accidents and theft. Urban environments with high traffic congestion can lead to more accidents, which may increase insurance premiums. Additionally, severe weather conditions, higher repair costs, and the cost of health care in Maryland, as well as state insurance regulations, can push insurance rates higher compared to other states.
Car insurance premiums can differ significantly from one company to another, even within the same state. In Maryland, Nationwide offers the most affordable full coverage at an average annual cost of $1,310, while Allstate has the highest average premium at $2,447 per year.
You might find the cheapest car insurance in Maryland by shopping around, ensuring you get the right coverage at a cost that fits your budget.
| Nationwide | $1,310 | $109 |
| GEICO | $1,312 | $109 |
| State Farm | $1,324 | $110 |
| Travelers | $1,406 | $117 |
| Kemper | $1,502 | $125 |
| Erie | $1,584 | $132 |
| Progressive | $1,675 | $140 |
| Allstate | $2,447 | $204 |
The cost of car insurance in Maryland is also influenced by the level of coverage you choose. Minimum coverage costs around $76 monthly, whereas full coverage with a $1,000 deductible averages $131 monthly. Despite the higher cost, full coverage is recommended for better financial protection in the event of an accident.
For more information, consider full coverage insurance, which offers more comprehensive protection.
By including comprehensive and collision coverage in your policy, the premium will rise. However, opting for higher deductibles, such as a $1,000 deductible, can help reduce these costs. Keep in mind, the deductible amount applies individually to both comprehensive and collision coverage.
| State Minimum Liability Only | $910 | $76 |
| 100/300/100 Liability Only | $1,096 | $91 |
| 300/500/300 Liability Only | $1,382 | $115 |
| State Minimum Liability w/ Full Cov. w/$1,000 Ded. | $1,470 | $123 |
| State Minimum Liability w/ Full Cov. w/$500 Ded. | $1,489 | $124 |
| State Minimum Liability w/ Full Cov. w/$1,500 Ded. | $1,558 | $130 |
| 100/300/100 Full Cov. w/$1,000 Ded. | $1,570 | $131 |
| 100/300/1000,000 - 500 comp_coll | $1,589 | $132 |
| 100/300/100 Full Cov. w/$1,500 Ded. | $1,658 | $138 |
| 300/500/300 Full Cov. w/$1,000 Ded | $1,679 | $140 |
| 300/500/300 Full Cov. w/$500 Ded. | $1,697 | $141 |
| 300/500/300 Full Cov. w/$1,500 Ded. | $1,766 | $147 |
In Maryland, the minimum car insurance requirements include $30,000 for bodily injury per person, $60,000 for bodily injury per accident, $15,000 for property damage and uninsured/underinsured motorist coverage matching the liability limits.
$30,000 for bodily injury liability per person
This is the minimum coverage required in Maryland for injuries you cause to one person in an accident.
$60,000 for bodily injury liability per accident
Maryland requires this amount as the minimum coverage for injuries to multiple people in a single accident.
$15,000 for property damage liability per accident
This coverage is the minimum required in Maryland to pay for damage to another person's property per accident.
$30,000 uninsured motorist bodily injury per person
This is the minimum amount in Maryland to cover your injuries if hit by a driver without insurance.
$60,000 uninsured motorist bodily injury per accident
Maryland's minimum coverage to protect you against injuries caused by an uninsured driver in a single accident.
$15,000 uninsured/underinsured property damage coverage
The state minimum in Maryland to cover property damage caused by an uninsured or underinsured driver.
Your location greatly affects your car insurance premiums. The cheapest full coverage rate in Columbia is around $1,041 per year, while Baltimore averages $1,625.
Car insurance costs in Maryland are influenced by several factors, including driving history, age, vehicle type, coverage amount and credit score. These play a significant role in determining the affordability of your premium.
Age influences car insurance costs in Maryland, with younger drivers typically paying higher premiums. Generally, drivers aged 22 to 29 face the most expensive insurance rates, averaging $1,824 annually or $152 monthly. As drivers mature, they often see lower rates, averaging about $1,570 for those aged 30 to 59.
However, premiums slightly increase for drivers 60 and older, averaging $1,714 — reflecting the trend that younger and older drivers experience higher insurance costs.
| 22-29 | $1,824 | $152 |
| 30-59 | $1,570 | $131 |
| 60 + | $1,714 | $143 |
Age and gender notably affect car insurance rates in Maryland, with a considerable premium spike for young drivers. Sixteen-year-old males added to a family policy face an average annual cost of $2,854 — the highest of all age groups. Teens under 18 often require a parent or guardian to co-sign for car insurance. If opting for an individual policy, a 16-year-old male may see an average premium of $6,272 per year.
The average annual cost for full coverage car insurance for a 2012 car model is $1,163, while the same coverage for a 2022 model climbs to $1,298. This surge in premium is due to newer vehicles having a higher actual cash value, more expensive repair costs and a higher risk of theft.
Experts recommend that drivers of newer models consider comprehensive and collision coverage, which can protect against a broader range of incidents, including vandalism, natural disasters and accidents.
| 2012 Vehicle | $1,163 | $97 |
| 2022 Vehicle | $1,298 | $108 |
The actual cash value (ACV) of your vehicle is the amount your insurance company will consider when reimbursing you after a comprehensive or collision claim. It represents your car’s current market value, factoring in depreciation, and helps determine the payout you will receive for repairs or replacement of your vehicle.
Drivers in Maryland know that their driving record can influence their car insurance payments. The average cost for minimum coverage can change based on whether a driver has tickets, accidents or DUIs.
The more severe a driving violation is, the more you'll likely pay for car insurance in Maryland. These additional costs will stay as long as the violation is on your record, with the length of time differing in each state. For instance, DUI convictions in Maryland can remain on a driving record for as long as five years, and they usually result in higher insurance premiums during that time.
Although DUI offenses are commonly the most expensive in terms of insurance rates, this isn't always the case. Other violations could lead to higher costs from particular insurers in several states.
Check the table for detailed information on the average cost of insurance in Maryland, based on the coverage you want and your age group, all sorted by driving record.
| Clean | $1,570 | $131 |
| Ticket | $1,873 | $156 |
| DUI | $2,268 | $189 |
| At-fault Accident | $2,322 | $194 |
In Maryland, the average annual cost of car insurance fluctuates significantly based on your credit score, ranging from $870 for those with excellent credit to $1,684 for individuals with poor credit.
Your credit score plays a pivotal role in shaping your car insurance rates, as insurance companies view it as an indicator of your reliability in paying bills. Credit scores are categorized as excellent (720 to 850), good (690 to 719), fair (630 to 689) and poor (300 to 629).
| Excellent | $870 | $72 |
| Good | $1,050 | $87 |
| Fair | $1,213 | $101 |
| Below Fair | $1,429 | $119 |
| Poor | $1,684 | $140 |
Understanding the factors influencing your car insurance rates in Maryland is key to finding an affordable plan that meets your needs. Here are the factors that affect the cost of coverage in the Old Line State:
Exploring these factors will help you navigate the cost of car insurance in Maryland and find a balance between affordability and adequate coverage.
To secure affordable car insurance in Maryland, compare rates, opt for a higher deductible and use all applicable discounts to lower premiums effectively.
Shop Around
Comparing rates from multiple insurers can lead to finding the cheapest car insurance in Maryland.
Maintain a Clean Driving Record
A clean driving record without violations or accidents often results in lower insurance premiums.
Bundle Policies
Bundling car insurance with other policies like homeowners insurance can unlock discounts and lower overall costs.
Increase Deductibles
Opting for higher deductibles can reduce your premium, but ensure you can afford the deductible if you need to file a claim.
Look for Discounts
Insurers offer various discounts, such as for safe driving, being a good student or having anti-theft devices installed in your vehicle.
Consider Vehicle Choice
Driving a car that's less expensive to insure, such as one with safety features, can lead to more affordable rates.
Review Coverage Annually
Regularly reviewing and adjusting your coverage can ensure you're not overpaying for insurance you don't need.
When assessing the average cost of car insurance in Maryland, many factors play a role, including driving history, vehicle type and coverage options. Understanding these costs helps you budget accordingly and choose policies that best meet your needs.
The minimum car insurance requirements in Maryland include $30,000 for bodily injury per person, $60,000 for bodily injury per accident and $15,000 for property damage. Uninsured/underinsured motorist coverage is also required, matching the liability limits. These are essential coverages to ensure an affordable plan that satisfies state minimum requirements for drivers.
The average annual cost for full coverage car insurance in Maryland is $1,570, while the state minimum coverage averages $910 annually. This means you'll pay about $131 per month for full coverage and roughly $76 monthly for the bare minimum.
The average cost of car insurance for a 22-year-old in Maryland with a 100/300/100 full coverage policy and a $1,000 deductible is $1,824 annually or $152 monthly. A 100/300/100 liability-only policy costs around $1,229 per year or $102 monthly, while the state minimum coverage averages $1,031 annually or $86 per month.
State Farm and GEICO offer the most affordable car insurance with minimum coverage in Maryland, with annual premiums of $703 and $765, respectively.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
