choose Car Insurance Companies in Maryland. Finding a suitable car insurance provider in Maryland is quite challenging because of the numerous options available. Comparatively, each driver has a reason for selecting a specific provider be it, low premiums, good coverage options, or even reliable customer service. In the case of Maryland, drivers are required to have auto insurance, not only to comply with laws but also to safeguard their finances in the event of an accident. Some of the top rated car insurance providers in the state are Progressive, and Erie. Other top rated insurers provide special benefits like accident forgiveness, rate locks, and discounts for bundling individual policies.
In this article, we cover the best car insurance companies in Maryland, their pros and cons, pricing, and highlight what sets them apart from the competition. Additionally, we cover aspects that affect the rates of car insurance policies, changes to the laws in Maryland governing insurance, and guide you on how to obtain the cheapest policy.
CONTENTS AVAILABLE AT THIS PAGE
- 1 Best Car Insurance Companies in Maryland
- 2 How Insoro Chose the Best Car Insurance Companies in Maryland
- 3 Recent Changes in Maryland Auto Insurance Laws (2024 Update)
- 4 How Much Does Car Insurance Cost in Maryland?
- 5 How to Find the Best Car Insurance in Maryland
- 5.1 1. Consider Maryland’s Minimum Insurance Requirements
- 5.2 2. Compare Quotes from Multiple Insurers
- 5.3 3. Consider Additional Coverage Options
- 5.4 Frequently Asked Questions (FAQs):
- 5.5 1. What is the cheapest car insurance company in Maryland?
- 5.6 2. How can I get a car insurance quote in Maryland?
- 5.7 3. What is included in full coverage car insurance?
- 5.8 What happens if I drive without insurance in Maryland?
- 5.9 Can I lower my car insurance premium in Maryland?
Best Car Insurance Companies in Maryland
1. Progressive – Best for Competitive Rates and Online Tools
Progressive is one of the largest car insurance providers in the U.S., known for its affordability and innovative online tools. Maryland drivers may benefit from Progressive’s competitive pricing and features like the Name Your Price tool, which allows policyholders to customize their coverage based on budget constraints.
Pros:
- Wide range of discounts, including multi-policy and safe driver discounts
- User-friendly website and mobile app for policy management
- Snapshot program offers potential savings for safe drivers
Cons:
- Below-average customer satisfaction in the Mid-Atlantic region
- Rates may vary significantly between agents and online quotes
Standout Features:
- Snowmobile Coverage: Unique policy addition for those who own snowmobiles
- Home and Auto Bundling: Save money by combining insurance policies
- Accident Forgiveness: Helps drivers avoid premium increases after their first accident
- Quote Comparison Tool: Displays competitor rates alongside Progressive’s pricing
2. Erie Insurance – Best for Comprehensive Coverage Options
Erie Insurance is a well-respected regional provider that offers some of the best coverage add-ons in Maryland. It is known for its Rate Lock feature, which ensures policyholders’ premiums don’t increase unless they make changes to their coverage. Erie ranks highly in customer satisfaction and offers accident forgiveness options to protect drivers from rate hikes after their first accident.
Who should consider Erie?
Maryland drivers looking for extensive coverage options and excellent customer service may find Erie to be a strong choice. The company has been ranked first in J.D. Power’s U.S. Auto Insurance Study for the Mid-Atlantic region.
Pros:
- Comprehensive coverage add-ons
- Rate lock feature prevents sudden premium hikes
- Highly rated for customer service
Cons:
- Online portal and mobile app are not as functional as competitors’
- Coverage is limited to 12 states
Standout Features:
- Rate Lock: Keeps policy pricing consistent unless changes are made
- Auto and Renters/Home Bundles: Discount options for multi-policyholders
- YourTurn Telematics App: Rewards safe driving habits with potential savings
How Insoro Chose the Best Car Insurance Companies in Maryland
Insoro analyzed dozens of auto insurance providers to determine the best options for Maryland drivers. The rankings are based on various factors, including:
- Premium Rates: Using data from Quadrant Information Services, Insoro assessed pricing for both minimum and full coverage policies.
- Coverage Availability: Providers were evaluated based on the range of coverage options offered.
- Financial Strength: AM Best ratings were considered to ensure insurers are financially stable.
- Customer Satisfaction: J.D. Power ratings played a key role in ranking companies based on customer feedback.
By combining these factors, Insoro assigned each insurance provider a Insoro Score, with a maximum of 5 out of 5 points.
Recent Changes in Maryland Auto Insurance Laws (2024 Update)
As of July 1, 2024, Maryland introduced new laws targeting uninsured drivers. Key updates include:
- Increased Penalties for Uninsured Drivers:
- The fine for allowing auto insurance to lapse increased from $150 to $200 for the first 30 days.
- Additional daily penalties increased from $2.50 to $7 per day until insurance is reinstated.
- The annual cap for fines per uninsured vehicle increased from $2,500 to $3,500.
- Households with multiple uninsured vehicles may face up to $7,000 in penalties per year.
These changes align with Virginia’s recent decision to require all drivers to carry insurance, eliminating the option to remain uninsured by filing proof of financial responsibility.
How Much Does Car Insurance Cost in Maryland?
In Maryland, car insurance expenses are a little above the average for the country. The state’s average yearly premium for full coverage sits at $2832, around 6% higher than the U.S. average of $2678. The state also opts for a minimum coverage policy which is significantly more expensive, averaging about $1009 per year which is 26% higher than the national average.
Average Full Coverage Premiums by City in Maryland
| City | Avg. Annual Premium | Savings vs. State Average |
|---|---|---|
| Rawlings | $2,246 | -23% |
| Centreville | $2,216 | -24% |
| Denton | $2,191 | -26% |
| Ingleside | $2,212 | -25% |
Premiums vary based on factors such as location, driving history, and credit score.
How to Find the Best Car Insurance in Maryland
Finding the right car insurance policy requires considering multiple factors, including state requirements, lender conditions, and personal coverage needs.
1. Consider Maryland’s Minimum Insurance Requirements
Maryland law requires drivers to carry at least:
- $30,000 per person / $60,000 per accident for bodily injury liability
- $15,000 for property damage liability
- Uninsured motorist coverage matching the liability minimums
2. Compare Quotes from Multiple Insurers
To get the best deal, request quotes from multiple insurers and look for available discounts on bundling, good driving, and multi-car policies.
3. Consider Additional Coverage Options
Beyond minimum coverage, consider:
- Comprehensive and collision insurance for vehicle protection
- Roadside assistance for emergency services
- Gap insurance if you have a car loan
Frequently Asked Questions (FAQs):
1. What is the cheapest car insurance company in Maryland?
The cheapest insurer varies by driver, but Progressive, Geico, and Erie offer some of the lowest rates for full and minimum coverage policies.
2. How can I get a car insurance quote in Maryland?
You can get quotes online from insurance company websites, through independent agents.
3. What is included in full coverage car insurance?
Full coverage typically includes liability, collision, and comprehensive coverage, protecting you from accidents, theft, vandalism, and natural disasters.
What happens if I drive without insurance in Maryland?
Maryland imposes fines starting at $200, increasing daily up to $3,500 per year. Uninsured drivers may also face license and registration suspension.
Yes, by maintaining a clean driving record, improving your credit score, bundling policies, and enrolling in safe driver programs.
