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Cheapest car insurance in Maryland for 2024

According to Bankrate’s analysis, the cheapest car insurance companies in Maryland include USAA, Geico and Progressive.

Updated May 01, 2024
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The cheapest car insurance companies in Maryland

Like most states, Maryland requires drivers to maintain insurance for their vehicles. The average cost of car insurance in Maryland is $919 per year for minimum coverage and $2,518 for full coverage. Minimum coverage in the state costs 43 percent more than the national average of $637, and full coverage is 10 percent more than the national average of $2,299 per year. However, the cost of coverage in the state is highly personal and depends on your driving history, among other factors. If you are seeking cheap car insurance in Maryland, there are options for finding coverage that fits your budget.

Bankrate has reviewed the cheapest car insurance in Maryland to find the best options for you. Additionally, we've put together tips on how to find cheap auto insurance in Maryland, depending on your situation and needs.

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Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Cheapest car insurance in Maryland for minimum coverage

Minimum coverage is the lowest amount of car insurance coverage you are legally allowed to carry in your state. Maryland requirements for minimum coverage include bodily injury liability coverage and property damage liability coverage. This doesn’t cover everything; physical damage to your vehicle if you cause an accident isn’t included, for instance. However, if you are looking for the cheapest car insurance in Maryland, minimum coverage might be the best option. In Maryland, USAA offers the lowest average cost for minimum coverage car insurance based on rate data we analyzed from Quadrant Information Services.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
$57
$680
- $239
$60
$717
- $202
$62
$748
- $171
$63
$762
- $157
$64
$774
- $145

Minimum coverage requirements for Maryland drivers

Maryland insurance laws require that all drivers carry at least a minimum amount of car insurance coverage for bodily injury liability and property damage liability to ensure that there is at least some coverage for the costs incurred if you damage another party’s vehicle or injure them in an accident. Here are the minimum auto insurance requirements in Maryland:

  • Bodily injury liability: $30,000 per person
  • Bodily injury liability: $60,000 per accident (for two or more people)
  • Property damage liability: $15,000 per accident

For most drivers, minimum coverage is not enough to provide full financial protection. Most insurance experts recommend buying enough liability coverage to at least match your assets. Having full coverage is another way to protect yourself financially since it covers physical damage to your own vehicle. Even when you opt for full coverage, you could still get cheap car insurance in Maryland with a little research.

Cheapest car insurance in Maryland for full coverage

Full coverage car insurance costs more than minimum coverage insurance, but it provides you much greater financial protection. Generally, full coverage car insurance includes the minimum coverage required in your state, plus comprehensive coverage and collision coverage. In Maryland, Nationwide offers the cheapest annual premium for full coverage on average.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
$126
$1,508
- $1,010
$148
$1,772
- $746
$150
$1,804
- $714
$159
$1,905
- $613
Penn National
$172
$2,066
- $452

Cheapest car insurance in Maryland for drivers with prior incidents

When you have prior incidents on your record, such as a DUI, a ticket or an accident, insurance carriers see you as higher risk. This means your insurance premiums often go up for three to five years when one of these events occurs. A speeding ticket raises car insurance rates in Maryland by 20 percent more on average, for example. If you have a driving infraction on your record, here are the cheapest carriers by infraction type.

Cheapest insurance companies for drivers in Maryland with a speeding ticket: Erie

If you’ve recently had a speeding ticket, it can be harder to get the best cheap auto insurance Maryland offers, as most insurers charge higher average rates for drivers with speeding ticket convictions on their records. Based on our careful analysis, these are the five of the cheapest car insurance companies in Maryland if you have a speeding ticket. Erie is the cheapest option.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$810
$2,037
$833
$2,686
$833
$2,378
$874
$2,199
$887
$2,014

Cheapest car insurance for drivers in Maryland with an at-fault accident: Erie

Causing an accident will typically affect affordable car insurance for Maryland drivers—even if you have minimum coverage and do not use collision insurance to cover your car’s damage. Maintaining a clean driving record typically helps you save the most on car insurance in Maryland. But if you do have an at-fault accident on your record, these five companies offer some of the cheapest car insurance on average for drivers with accidents on their records. Erie is the cheapest option.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$924
$2,315
$1,015
$2,313
$1,018
$2,877
$1,049
$2,644
$1,183
$3,688

Cheapest car insurance in Maryland for high-risk drivers: Encompass

If you’re considered a high-risk driver, the amount your car insurance goes up generally depends on the incident. A DUI is the most severe high-risk infraction you could have in Maryland, aside from getting your license revoked or suspended. These carriers may offer the best low-cost car insurance in Maryland if you are a high-risk driver, but it’s important to note that there is no guarantee that these companies will offer car insurance to drivers with DUIs on their records. You may want to start your search with Encompass, as it offers the cheapest option on average based on our analysis.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$774
$1,772
$787
$2,279
$810
$2,037
$908
$2,510
$1,327
$2,806
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Bankrate’s take: Some insurance carriers won’t extend coverage to drivers with a DUI at all. When a driver gets a DUI, insurance companies see a significant risk for future claims. If an insurance company does agree to continue coverage after a DUI, the insurance premium will most likely increase significantly.

Cheapest car insurance for young drivers in Maryland

In Maryland, insurers are allowed to consider a driver’s age when calculating insurance premiums, which means that younger drivers are much more likely to see high car insurance rates. But that doesn’t mean that some carriers don’t offer better rates than others for younger Maryland drivers. It may be worth considering these carriers if you’re looking to get cheap insurance in Maryland with a young driver.

Cheapest Maryland car insurance for insuring a teen driver: USAA

Adding a teen driver can cause car insurance rates to skyrocket. Teen drivers are statistically more likely to be involved in accidents and other incidents, and in turn, most insurance companies will charge more to account for less experience behind the wheel. When shopping for the cheapest car insurance for Maryland teen drivers, consider all the ways you can save. You may also be able to find discounts for your teen drivers and save on plans with multiple drivers. USAA is the cheapest carrier on average for minimum coverage car insurance in Maryland for your teen.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,443
$4,276
$1,443
$2,795
$1,587
$4,078
$1,606
$2,867
$1,614
$4,647
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Bankrate’s take: Insurance carriers determine the cost of car insurance based on the level of risk the driver could bring based on actuarial data. As new drivers, teens are statistically more likely to have an accident. According to the CDC, teens are more likely to get in an accident than any other age group. This means adding a teen to your insurance plan is likely to increase your premium significantly. If your teen can maintain a clean driving record, these high rates should slowly decrease over time.

Cheapest Maryland car insurance for teens with a ticket: Erie

Insurance for teen drivers can be expensive, no matter what. If they get a ticket, insurance rates are likely to skyrocket. Erie offers the cheapest average car insurance rate for an 18-year-old with a speeding ticket in Maryland. Based on the data we analyzed, these other carriers also offer cheap average rates.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,755
$4,554
$2,336
$7,417
$2,383
$7,215
Maryland Automobile Insurance
$2,443
$8,937
$2,622
$5,321

Cheapest Maryland car insurance for teens with an at-fault accident: Erie

Teens already have higher rates than older drivers. Add an accident into the mix, and rates go up even further. The table below shows some of the cheapest rates for 18-year-old drivers who have their own insurance policy and get into an accident in which they’re at fault. Erie is the cheapest option on average.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$2,096
$5,373
$2,683
$8,052
$2,761
$5,586
$2,862
$8,985
$2,894
$6,894
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Bankrate’s take: Accident forgiveness is an endorsement you can purchase for car insurance from many carriers. If you have accident forgiveness, the insurance carrier won’t increase your premium after one accident, as long as certain requirements are met. Each insurance company has different requirements to qualify for accident forgiveness, so check with your carrier to understand how its policy works and to determine if its accident forgiveness would apply to a teen driver.

Cheapest Maryland car insurance for young drivers with a DUI: Encompass

Young drivers in Maryland can get their license suspended or taken away if they get convicted of a DUI. On top of that, car insurance rates for the young driver are likely to become astronomical. But there are some options that could provide a bit of relief. These five insurers offer some of the cheapest rates on average for a 21-year-old driver with a DUI.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,327
$2,867
$1,351
$3,471
$1,400
$4,306
$1,414
$3,737
$1,850
$4,730

Cheapest car insurance rates by city in Maryland

The Maryland city you live in can affect how much you pay for minimum or full coverage car insurance. Each ZIP code has its own average repair costs, crime statistics, weather events and population that can impact affordable car insurance for Maryland drivers. The tables below show how average rates compare in different cities across the state.

Cheapest cities in Maryland for car insurance

Charlotte Hall
City average annual min coverage premium
$789
Cheapest car insurance carrier
Erie
Company average annual premium
$523
Issue
City average annual min coverage premium
$819
Cheapest car insurance carrier
Nationwide
Company average annual premium
$602
Cobb Island
City average annual min coverage premium
$820
Cheapest car insurance carrier
Nationwide
Company average annual premium
$602
Newburg
City average annual min coverage premium
$823
Cheapest car insurance carrier
Nationwide
Company average annual premium
$602
Rock Point
City average annual min coverage premium
$826
Cheapest car insurance carrier
Nationwide
Company average annual premium
$602

Cheapest car insurance in larger cities in Maryland

Baltimore
City average annual min coverage premium
$1,153
Cheapest car insurance carrier
USAA
Company average annual premium
$768
Columbia
City average annual min coverage premium
$830
Cheapest car insurance carrier
USAA
Company average annual premium
$613
Germantown
City average annual min coverage premium
$827
Cheapest car insurance carrier
USAA
Company average annual premium
$620
Silver Spring
City average annual min coverage premium
$958
Cheapest car insurance carrier
Geico
Company average annual premium
$741
Waldorf
City average annual min coverage premium
$896
Cheapest car insurance carrier
USAA
Company average annual premium
$669

Car insurance discounts in Maryland

Applying discounts is another way you might be able to get Maryland car insurance savings. Stacking discounts you qualify for could help you maximize savings, so be sure to ask which discounts are available to you so you can apply for as many as possible.

  • Young driver discounts: Although insuring young drivers can be expensive, there are ways to save. Young drivers with a B or above GPA could get a good student discount. Taking advantage of telematics programs to demonstrate safe driving habits is another way teens could save on Maryland car insurance.
  • Safe driver discounts: A safe driving discount is typically available for drivers with a clean driving record. The longer you go without a ticket or at-fault accident, the more you could save.
  • Bundling discounts: Bundling your home and auto insurance typically offers a significant discount on car insurance. Some carriers offer discounts for bundling other policies with auto insurance, too, like renters or pet insurance.
  • Affiliation discounts: Another way to save on car insurance in Maryland is through affiliation discounts. This could mean being a member of a professional organization, a credit union or even working in a certain industry or for a specific employer.

Frequently asked questions

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46
years of industry expertise
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122
carriers reviewed
Location
34.5K
ZIP codes examined
Dollar Coin
1.2M
quotes analyzed

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Teens: Rates were determined by adding a 16-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.

Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 (base: 40 years) applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Written by
Emma Woodward
Contributor, Personal Finance

Emma Woodward is a contributor for Bankrate and a freelance writer who loves writing to demystify personal finance topics. She has written for companies and publications like Finch, Toast, JBD Clothiers and The Financial Diet.

Edited by Editor II, Insurance