Cheapest Car Insurance Rates in 2023
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Cheap SR 22 Auto Insurance in Maryland: Best Companies & Quotes
Personal Finance Expert
Tyron Jones is a finance expert who has operated within the auto insurance business for more than 10 years. He has written many other finance related articles for a number of prominent publications.
Best Car Insurance Companies in Maryland
- State Farm
|AM Best Financial Strength Rating||A+||A++||A++||A+||A++||A+|
|JD Power 2019 Overall Customer Satisfaction score||5/5||3/5||3/5||2/5||5/5||3/5|
|Avg Annual Premium||$1,044||$1,124||$1,246||$1,136||$906||$1,520|
|Consumer Reports Reader Score||86||78||72||N/A||91||75|
|BBB Rating||A+||A+||A+||A+||Not Rated||A+|
Auto Insurance Statistics in Maryland
Maryland has car insurance rates that are higher than the national averages but follow the same fluctuations as the national car insurance rates do.
Top 10 Cheapest Car Insurance Companies in Maryland
|Rank||Company Name||Avg. Annual Premium|
Drunk Driving Fatalities
Drunk driving is a serious problem nationwide and is one that needs more spotlight in order to ensure improvement in this area. When obtaining car insurance in Maryland, it helps to understand the amount of drunk driving fatalities which occur here. The National Highway Traffic Safety Administration has done a tally of the number of drunk driving fatalities in Maryland vs. nationwide.
Drunk driving fatalities in Maryland from 2013 to 2017
Teen Drinking and Driving
Teen drinking and driving in Maryland is a concern that parents can assist with by raising awareness about the dangers of drinking and driving. In Maryland, the rate of teen drinking and driving is slightly lower than the national average. The below statistics represent the percentage of Maryland drivers that are teenagers who are drinking and driving when compared with national averages.
Teen Drinking & Driving in Maryland vs. Nationwide (2017)
SR-22 Insurance in Maryland
SR-22 insurance is a form of insurance that provides financial security to the Maryland DMV if you have been banned from driving. If you want to have your license reinstated in Maryland, the SR-22 policy will provide direct evidence to the DMV that you have the most basic level of coverage that is permissible.
In most cases, you will need an SR-22 policy in Maryland for at least three years. By purchasing the basic level of coverage, you will be able to reinstate your license. The insurance company will need to directly communicate with the DMV to provide a form that exhibits that you have a SR-22 form. Your insurance provider will notify the Maryland DMV if you cancel the policy — which will result in your license being revoked again.
Car Theft in Maryland
Finding out about the levels of car theft in Maryland can show you how often vehicular theft takes place. The rate of car theft appears to have been lower than the national average however, 2012 did see a spike in the rate of vehicle thefts.
Vehicle thefts by rank nationwide vs. Maryland
Uninsured Motorists in Maryland
Getting into an accident with an uninsured motorist will cause you to have to pay out of pocket unless you have uninsured and underinsured motorist coverage. It helps to learn about the number of uninsured motorists in Maryland to get an idea as to whether or not you need this type of coverage. The below data shows how well Maryland ranks in the total number of reported uninsured motorists in the state in the year 2015.
Percentage of uninsured drivers (Top States in 2015)
It's not uncommon to want to save on your insurance, which is why so many Maryland residents are interested in learning what they can do to help lower their premium and help their budget stick a little easier. It’s not always easy or possible for some people to lower their rates, but it’s sometimes much easier than you think.
Know Where to Start
If you’re serious about a lower rate in Maryland, you’re going to shop around for a great policy. The best way to do this is to compare quotes from at least three of the top car insurance companies. Some of the best include Geico, USAA, Selective Insurance, Nationwide, and Cumberland Insurance. They’re rated the most affordable in the state for most policyholders, but your personal situation is a different story.
How Your Life Affects Your Insurance
It’s been mentioned you can’t always lower your rate. The reason has to do with how risky an insurance company views you in comparison to others. They want to know the people they’re insuring are reliable, and they want to know they are doing what they can to save money when possible. The riskiest drivers are those who have a poor driving record and a poor credit score. These people are viewed as bad drivers as well as financially irresponsible, which means they’re not getting the best insurance rates. If this is you, now is a good time to start making better driving decisions and to get your financial life in order. It might not help you right now, but it can help you in the future. Additionally, it’s just a good idea to improve your driving record and your credit no matter what you do.
If you live in a neighborhood where the crime rate is high or the economic status of most residents is low, you’ll pay more. It’s because your car is somewhere break-ins and theft happen more often, and it’s because many people who live in areas like this don’t pay for their own insurance.
How to Ask for Lower Rates
Before you being shopping around, you might just all your own insurance company and ask for a lower rate. It might seem like a long shot, but customers who’ve been with the company for many years with a great record are going to see this one result in big changes. If you have not needed your insurance to pay a deductible for an accident and if you always pay on time, your insurance company wants to keep you. You’re low-risk, and they don’t want to lose you. This means they’re more likely to pay for you to stick around with an auto insurance discount, and all you have to do is ask.
You can also let the company know of any major life changes, if you have any safety features on your car you’re not getting a discount for, and if you have received lower rates from other companies. There is no guarantee you can find a lower rate this way, but it’s always worth asking. If your company won’t work with you, go ahead and look around for a new policy.
Maryland residents might find insurance is more expensive if they live in Baltimore or one of the other biggest cities. It’s a lot more affordable in rural communities, and you should try to find out if there’s anything you can do to get a lower rate when you have the chance. You’re not guaranteed one, but you can ask and see what that gets you.
Types of Auto Insurance Coverage in Maryland:
- Comprehensive Insurance Coverage
- Bodily Injury Liability Insurance
- Uninsured/Underinsured Motorist Bodily Injury Insurance
- Uninsured Motorist Property Damage Insurance
- Property Damage Liability Insurance
Minimum Requirements For Car Insurance in Maryland
There are minimum requirements for car insurance in the state of Maryland. According to The Maryland Insurance Commissioner, it is mandatory to have at least a minimum of liability coverage, personal injury protection, and uninsured motorist insurance for every registered driver who is operating a vehicle in the state.
Liability Coverage minimums for the state of Maryland:
- $30,000 per single bodily injury or death
- $60,000 per multiple bodily injury or deaths
- $15,000 for property damage
Medical Payments minimums:
- $250,000 for multiple medical coverages
Uninsured Motorist minimums:
- $30,000 per person
- $60,000 per accident
Source: Maryland Insurance Commissioner
Cheap Auto Insurance Discounts
One way that Maryland drivers can save on the cost of car insurance is with online car insurance quotes. Many auto insurance companies offer discounts on the cost of car insurance based on certain criteria. These discounts are typically not advertised so consumers don’t always get a chance to take advantage of them. At CheapAutoInsurance.co, we have compiled a list of the most common types of car insurance discounts so you can save.
- Anti-theft discount
- Bundling insurance policies discount
- Car safety features discount
- Defensive driving discount
- Good student discount
- Infrequent usage discount
- Low-mileage discount
- Mature driver discount
- Military or Veteran discount
- Multi-car auto insurance discount
- Senior citizen discount
General Maryland Car Insurance
This is a great place to start if you’re trying to figure out the basics of Maryland car insurance. Use this information to help you get more from the more advanced answers later on.
When can I cancel my Maryland auto insurance?
What is full coverage auto insurance in MD?
What are the requirements in Maryland to get car insurance?
How far back can auto insurance look when your DMV record in state of Maryland?
What information do I need to buy auto insurance in MD?
How are auto insurance premiums calculated in MD?
Maryland Car Insurance Laws
Every state’s insurance laws are unique. We’ll answer your questions about how car insurance laws work in Maryland in this section.
Do you need car insurance when you have a learner's permit in Maryland?
How long can your children be on your auto insurance policy in Maryland?
Can you report someone who doesn’t have car insurance in Maryland?
What is the fine for not having car insurance in MD?
What is the minimum auto insurance coverage in Maryland?
What kind of car insurance is required on new cars in Maryland?
What amount of bodily and injury insurance for auto is needed in MD?
How to provide proof of car insurance in Maryland?
When to add teen to car insurance MD?
In Maryland, how long to add car to insurance?
Does Maryland force you to buy insurance when renting a car?
What is the Maryland law for married couple car insurance?
When is a car a classic for MD insurance?
What auto insurance limits must I have in Maryland?
What will happen if you don’t have car insurance MD?
How long can you go without car insurance in Maryland?
What happens in MD when you can't get auto insurance?
Does a teen driver need auto insurance in MD when driving with an adult?
When you lease a car in Maryland do you need insurance?
What counts as an occasional driver for auto insurance in MD?
What tickets go to your car insurance in MD?
In Maryland, who must obtain auto insurance for a vehicle?
How much will a motorcycle endorsement affect my insurance?
Maryland Car Insurance Prices
The price of car insurance is one of the first things people look at when they’re shopping. We’ll answer your questions about Maryland car insurance prices in this section.
How much is car insurance in Maryland?
How much is car insurance for new drivers in MD?
Why is high risk car insurance so expensive in Maryland?
What is the cheapest car insurance in Maryland?
How much is car insurance for a 25-year-old male in MD?
How much will it cost for used car Maryland inspection and tags and insurance?
What is best auto insurance in Maryland for teenage driver?
What does the average person pay for car insurance in Maryland?
Where can I get cheap car insurance in Maryland?
What is the cheapest auto insurance in Maryland?
How much will one at fault accident with damage only to my car increase my insurance in MD?
How much of saving on auto insurance do you get for driver’s education class in Maryland?
How do points affect Maryland car insurance?
At what age in Maryland does car insurance drop?
Who offers the best car insurance in Maryland?
How can Maryland senior citizen lower car insurance?
How much is temporary car insurance in Maryland?
Maryland Car Insurance Claims and Coverage
This section answers your questions about how car insurance claims and coverage work in Maryland.
What happens if you get into a car accident without insurance in Maryland?
How does an auto accident claim work in Maryland when person doesn't take responsibility?
For a car accident injury whose insurance pays in Maryland?
What does auto insurance cover in MD?
Other Maryland Car Insurance Questions
We’ve placed this section to cover any questions that don’t quite fit into our other categories. If you don’t see your question on the list, then this is a good place to check.