Cheapest Car Insurance In Maryland 2024
State Farm provides reliable and affordable auto insurance in Maryland, with annual premiums of $56.
We’ve saved shoppers an average of $600 per year on their car insurance.
Looking for affordable car insurance in Maryland might seem difficult, but it doesn’t need to be. State Farm is one of the top companies offering excellent rates and a variety of coverage options, from minimum requirements to full coverage. With rising living costs, it’s crucial to find low-cost insurance that still meets your needs.
Whether you’re a new driver, experienced on the road, or looking for a family policy, understanding what affects insurance premiums and knowing where to find the best rates can help you save. After over a decade of studying insurance, I’ve simplified the process to make it easier to navigate.
Cheapest Car Insurance Companies In Maryland, 2024
Cheapest Liability-Only Car Insurance In Maryland: State Farm
State Farm provides the most economical option for minimum car insurance in Maryland, with monthly premiums averaging only $56.
| Provider | Average Monthly Cost | Average Annual Cost |
| State Farm | $56 | $671 |
| Geico | $59 | $710 |
| Erie | $63 | $752 |
| Nationwide | $64 | $769 |
| Kemper | $65 | $775 |
In Maryland, having at least the minimum required car insurance is essential to legally drive. This insurance typically includes liability coverage, which has two parts: bodily injury liability and property damage liability. Bodily injury liability helps cover medical bills, rehabilitation, and legal fees if you’re responsible for an accident that injures someone.
On the other hand, property damage liability pays for fixing or replacing someone else’s car or property if you’re at fault. The state mandates these minimum coverage levels, though they may vary depending on your driving history or the kind of vehicle you own. It’s important to review these legal requirements to ensure you have enough coverage to meet the law and protect yourself financially.
Cheapest Full-Coverage Car Insurance In Maryland: GEICO
GEICO provides Maryland drivers with the least expensive rates for full coverage car insurance, costing around $133 per month on average.
| Provider | Average Monthly Cost | Average Annual Cost |
| GEICO | $133 | $1,597 |
| State Farm | $136 | $1,631 |
| Encompass | $146 | $1,747 |
| Travelers | $156 | $1,874 |
| Progressive | $169 | $2,031 |
Maryland drivers can benefit from full coverage car insurance, which includes state-mandated liability insurance plus extra protection through collision and comprehensive coverage. Collision insurance covers damage to your car if it’s involved in an accident, regardless of fault. Comprehensive insurance handles damage from incidents other than accidents, such as theft, fire, or weather events.
This coverage offers extensive financial protection, ensuring peace of mind in case of unexpected events. Make sure to carefully review your policy’s coverage limits and deductibles to ensure it aligns with your needs.
Cheapest Maryland Car Insurance For Seniors: State Farm
State Farm features the most budget-friendly rates for seniors in Maryland, coming in at an average of $102 per month.
| Provider | Average Monthly Cost | Average Annual Cost |
| State Farm | $102 | $1,220 |
| Geico | $103 | $1,236 |
| Progressive | $113 | $1,358 |
| Nationwide | $121 | $1,452 |
| Erie | $123 | $1,471 |
Seniors often receive lower car insurance premiums due to their reputation as responsible and seasoned drivers. Insurers also consider that seniors generally drive fewer miles, which lowers their risk of accidents. Many companies offer senior-specific discounts, especially for those who take defensive driving courses. These courses serve to refresh driving knowledge and improve safety, making them a valuable option for seniors looking to reduce their insurance costs.
Cheapest Auto Insurance In Maryland For Drivers With Poor Credit: Nationwide
Nationwide offers the most competitive pricing in Maryland for drivers with less-than-ideal credit, with monthly premiums starting as low as $134.
| Provider | Average Monthly Cost | Average Annual Cost |
| Nationwide | $134 | $1,605 |
| GEICO | $187 | $2,240 |
| State Farm | $207 | $2,478 |
| Travelers | $219 | $2,630 |
| Allstate | $248 | $2,978 |
Your credit score is a key factor in determining car insurance rates, as insurers use it to assess the likelihood of you filing a claim. Drivers in Maryland with lower credit scores may be considered higher risk, resulting in higher premiums. However, even with poor credit, drivers can shop around for better deals and explore discount options to help reduce their insurance costs.
Cheapest Maryland Car Insurance For Young Drivers
In Maryland, young adults often enjoy cheaper car insurance rates than teenagers. This is because as they grow older, they generally exhibit safer driving behaviors, leading to fewer accidents and claims. Insurance providers factor in these trends and provide lower premiums to young adults based on their better safety records.
Cheapest Maryland Car Insurance For 16-Year-Olds: Travelers
Travelers has the lowest rates available for sixteen-year-olds, with an average monthly premium of $400.
| Provider | Average Annual Cost | Average Monthly Cost |
| Travelers | $4,797 | $400 |
| Geico | $4,977 | $415 |
| Erie | $5,040 | $420 |
| State Farm | $7,318 | $610 |
| Nationwide | $5,959 | $497 |
Cheapest Maryland Car Insurance For 17-Year-Olds: Travelers
At $400 on average, Travelers offers the most economical insurance rates for 17-year-olds.
| Provider | Average Monthly Cost | Average Annual Cost |
| USAA | $425 | $5,098 |
| Geico | $415 | $4,978 |
| Erie | $420 | $5,038 |
| Travelers | $400 | $4,798 |
| Nationwide | $520 | $6,238 |
Cheapest Maryland Car Insurance For 18-Year-Olds: Travelers
Travelers provides the most cost-effective coverage for 18-year-olds, averaging $370 per month.
| Provider | Average Monthly Cost | Average Annual Cost |
| USAA | $390 | $4,678 |
| Geico | $402 | $4,822 |
| Erie | $398 | $4,774 |
| Travelers | $370 | $4,438 |
| Nationwide | $505 | $6,058 |
Cheapest Maryland Car Insurance For 21-Year-Olds: USAA
USAA offers the best deal for 21-year-olds, with an average monthly premium of $225.
| Provider | Average Monthly Cost | Average Annual Cost |
| USAA | $225 | $2,698 |
| Geico | $272 | $3,262 |
| Travelers | $250 | $2,998 |
| Erie | $320 | $3,838 |
| Nationwide | $380 | $4,558 |
Find Affordable Insurance In Maryland Today
Cheapest Car Insurance In Maryland For Good Drivers
Auto insurance premiums for safe drivers in Maryland can vary based on their driving history, age, and the type of coverage they want. Typically, drivers with clean records may qualify for lower rates because they represent a lower risk to insurance companies.
They may also be eligible for discounts for maintaining a good driving record over time. It’s advisable for safe drivers to compare quotes from multiple insurers to find the best rates and coverage options tailored to their preferences.
| Provider | Average Monthly Cost | Average Annual Cost |
| State Farm | $56 | $671 |
| Geico | $59 | $710 |
| Erie | $63 | $752 |
| Nationwide | $64 | $769 |
| Kemper | $65 | $775 |
Most Affordable Insurance For Drivers With Prior Incidents
Drivers in Maryland who have past incidents like accidents, speeding tickets, or DUIs often struggle to secure reasonably priced car insurance. These incidents mark them as high-risk to insurers, resulting in higher premiums to cover the expected rise in claims.
This issue is more pronounced in Maryland due to its higher rate of traffic incidents. Insurers formulate their pricing strategies based on statistical analyses that indicate a correlation between a history of driving incidents and an increased likelihood of future claims.
Cheapest Auto Insurance In Maryland For Drivers With A Speeding Ticket: State Farm
State Farm average premiums are $160, making it the most affordable choice for drivers with a history of speeding tickets.
| Provider | Avg. Annual Min Coverage Premium | Avg. Annual Full Coverage Premium |
| Erie | $170 | $2,038 |
| State Farm | $160 | $1,918 |
| Geico | $172 | $2,062 |
| Allstate | $358 | $4,294 |
| Progressive | $224 | $2,686 |
Cheapest Car Insurance In Maryland For Drivers With An At-Fault Accident: State Farm
State Farm premiums average at $180, making it the most affordable choice, especially for drivers with at-fault accidents.
| Provider | Avg. Annual Min Coverage Premium | Avg. Annual Full Coverage Premium |
| State Farm | $180 | $2,158 |
| Erie | $215 | $2,578 |
| Geico | $232 | $2,782 |
| Progressive | $280 | $3,358 |
| Allstate | $495 | $5,938 |
Cheapest Car Insurance In Maryland For Drivers After A DUI: Erie
For drivers with a DUI, Erie average premiums of $170 are the most budget-friendly.
| Provider | Average Monthly Cost | Average Annual Cost |
| USAA | $210 | $2,518 |
| Geico | $190 | $2,278 |
| Erie | $170 | $2,038 |
| Progressive | $246 | $2,950 |
| Nationwide | $270 | $3,238 |
Average Cost Of Car Insurance In Maryland – By Age
| Age | Average Monthly Cost | Average Annual Cost |
| 16 | $467 | $5,600 |
| 17 | $520 | $6,220 |
| 18 | $494 | $5,910 |
| 19 | $480 | $5,780 |
| 21 | $399 | $4,784 |
| 25 | $270 | $3,234 |
| 35 | $247 | $2,963 |
| 45 | $225 | $2,700 |
| 55 | $208 | $2,491 |
| 65 | $240 | $2,876 |
Average Cost In Maryland – By Gender & Marital Status
| Gender | Marital Status | Average Annual Cost |
| Female | Single | $2,070 |
| Male | Single | $2,160 |
| Female | Married | $2,000 |
| Male | Married | $2,038 |
Average Cost In Maryland – By Credit Tier
| Credit Tier | Average Monthly Cost | Average Annual Cost |
| Excellent | $150 | $1,798 |
| Good | $172 | $2,062 |
| Poor | $270 | $3,238 |
Average Cost Of Car Insurance In Maryland – By City
| City | Average Monthly Cost | Average Annual Cost |
| Baltimore | $272 | $3,266 |
| Columbia | $192 | $2,303 |
| Germantown | $188 | $2,259 |
| Silver Spring | $210 | $2,521 |
| Waldorf | $207 | $2,490 |
Minimum Car Insurance Requirements In Maryland
In Maryland, the law requires a minimum car insurance policy that includes liability coverage for injuries and property damage, with limits often represented as 30/60/15—$30,000 for injury per person, $60,000 per accident, and $15,000 for property damage. Personal Injury Protection (PIP) is also required to cover medical bills and lost wages. Alternatively, drivers may choose the Health Insurance Primary (HIP) option, which makes health insurance the primary payer for medical expenses instead of PIP, though not all health insurance plans qualify for HIP.
Car Insurance Discounts In Maryland
When considering car insurance, it’s helpful to explore discounts tailored to your situation. Speaking to your insurance agent can also reveal discounts you’re not using. Common discounts include:
- Safe Driver Discount: For those with no accidents or traffic violations.
- Multi-Vehicle Discount: Available when insuring more than one car on the same policy.
- Bundling Discount: Savings when you combine your car insurance with another type of policy.
- Good Student Discount: Discounts for students who achieve high grades.
- Defensive Driving Discount: Completing a defensive driving course can reduce your premiums.
Our Methodology
In the course of our research, I applied a methodical approach to gather and analyze data concerning various car insurance providers and their policies. Initially, I highlighted critical factors to evaluate, such as coverage options, pricing, customer satisfaction ratings, and financial stability. Subsequently, I sourced information from reputable outlets like insurance company websites, consumer review platforms, and industry reports. Once compiled, I organized the data into categories and assessed each insurer based on predefined criteria. This process encompassed comparing coverage options, premium rates, discounts, and customer feedback to pinpoint the strengths and weaknesses of each provider.
Quotes Assessed
Hours Of Research
Years Of Industry Expertise
Brands Reviews
FAQs
How much is car insurance a month in Maryland?
The average monthly car insurance expense in Maryland varies with age, driving history, and the driver’s chosen coverage.
What is the minimum car insurance one must have in Maryland?
Maryland law mandates that drivers have car insurance covering liability for bodily injury and property damage, as well as Personal Injury Protection (PIP) coverage.
Which insurance is better in Maryland?
Selecting the best insurance in Maryland depends on individual preferences, driving behaviors, and coverage needs. It’s advised to compare quotes from different insurers to find the most suitable choice.
