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Cheapest car insurance in Maryland for 2023
According to Bankrate’s analysis, the cheapest car insurance companies in Maryland include Nationwide, USAA and Penn National.
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What To Know First
Drivers looking for cheap Maryland car insurance can use the data provided below to determine which companies offer the best average rates for different driving profiles. Bankrate uses and analyzes data provided by Quadrant Information Services to provide average rates in several categories, including being a teen driver, having a speeding ticket or an at-fault accident.
- Cheapest company for minimum coverage: Nationwide
- Cheapest company for full coverage: Nationwide
- Cheapest company for adding a teen driver: Allstate
- Cheapest company for getting a speeding ticket: Auto-Owners
- Cheapest company for being in an at-fault accident: Hastings Mutual
- Cheapest company after a high-risk incident: Progressive
On This Page
- The cheapest car insurance companies in Maryland
- The cheapest car insurance companies in Maryland by coverage level
- Cheapest cities in Maryland for car insurance
- Factors that impact cheap rates in Maryland
- Minimum coverage requirements for Maryland drivers
- How to get the cheapest car insurance in Maryland
- Car insurance discounts in Maryland
- Frequently asked questions
- Methodology
The cheapest car insurance companies in Maryland
When looking for cheap car insurance, Maryland drivers may want to consider which carrier works best for their specific driving profile. Rates can vary widely depending on whether you have an infraction on your driving record or are a young and inexperienced driver. The information outlined in the table below may be a good starting point when searching for the cheapest car insurance in Maryland.
Cheapest company for minimum coverage
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Nationwide | $84 | $1,003 |
Cheapest company for full coverage
Company | Average monthly full coverage rates | Average annual full coverage premium |
---|---|---|
Nationwide | $131 | $1,574 |
Cheapest company for adding a teen driver
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Allstate | $81 | $975 |
Cheapest company for getting a speeding ticket
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Auto-Owners | $23 | $280 |
Cheapest company for being in an at-fault accident
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Hastings Mutual | $22 | $259 |
Cheapest company after a high-risk incident
Company | Average monthly minimum coverage premium | Average annual minimum coverage premium |
---|---|---|
Progressive | $32 | $378 |
The cheapest car insurance companies in Maryland by coverage level
When looking for cheap car insurance, Maryland drivers can get lower rates with minimum coverage vs. full coverage. But while minimum coverage car insurance is cheaper on average, many drivers may find that minimum coverage does not offer the protection they need, as it only covers the damages for the other party if you cause an accident. With full coverage car insurance, you get the benefit of physical damage coverage for your vehicle through comprehensive and collision insurance. Below are the average savings for some carriers offering cheap Maryland auto insurance compared to the state average.
Insurance company | Average monthly minimum coverage premium | Average annual minimum coverage premium | Annual savings vs. State average* |
---|---|---|---|
Nationwide
3.9
Bankrate Score
|
Average monthly minimum coverage premium
$84
|
Average annual minimum coverage premium
$1,003
|
Annual savings vs. State average*
+ $188 |
USAA
4.3
Bankrate Score
|
Average monthly minimum coverage premium
$45
|
Average annual minimum coverage premium
$545
|
Annual savings vs. State average*
- $270 |
Geico
4.4
Bankrate Score
|
Average monthly minimum coverage premium
$50
|
Average annual minimum coverage premium
$603
|
Annual savings vs. State average*
- $212 |
Erie
3.8
Bankrate Score
|
Average monthly minimum coverage premium
$59
|
Average annual minimum coverage premium
$703
|
Annual savings vs. State average*
- $112 |
Penn National
|
Average monthly minimum coverage premium
$87
|
Average annual minimum coverage premium
$1,039
|
Annual savings vs. State average*
+ $224 |
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.
*Based on policies with minimum coverage for 2023
Insurance company | Average monthly full coverage premium | Average annual full coverage premium | Annual savings vs. State average* |
---|---|---|---|
Nationwide
3.9
Bankrate Score
|
Average monthly full coverage premium
$131
|
Average annual full coverage premium
$1,574
|
Annual savings vs. State average*
- $397 |
Penn National
|
Average monthly full coverage premium
$140
|
Average annual full coverage premium
$1,674
|
Annual savings vs. State average*
- $297 |
USAA
4.3
Bankrate Score
|
Average monthly full coverage premium
$129
|
Average annual full coverage premium
$1,544
|
Annual savings vs. State average*
- $427 |
Geico
4.4
Bankrate Score
|
Average monthly full coverage premium
$144
|
Average annual full coverage premium
$1,727
|
Annual savings vs. State average*
- $244 |
Progressive
4.2
Bankrate Score
|
Average monthly full coverage premium
$147
|
Average annual full coverage premium
$1,766
|
Annual savings vs. State average*
- $205 |
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.
*Based on policies with full coverage for 2023
Cheapest cities in Maryland for car insurance
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 whether you can get affordable car insurance for Maryland drivers. The tables below show how rates compare in different cities across the state.
City | City average annual minimum coverage premium | Cheapest car insurance company | Company average annual minimum coverage premium |
---|---|---|---|
Charlotte Hall | $696 | Allstate | $419 |
Issue | $712 | Allstate | $419 |
Cobb Island | $713 | Allstate | $419 |
Newburg | $713 | Allstate | $419 |
Rock Point | $714 | Allstate | $419 |
Bel Alton | $715 | Allstate | $499 |
Darlington | $719 | Allstate | $450 |
Tracys Landing | $721 | Allstate | $421 |
Benedict | $721 | Allstate | $419 |
City | City average annual full coverage premium | Cheapest car insurance company | Company average annual full coverage premium |
---|---|---|---|
Crofton | $1,781 | Nationwide | $1,371 |
Fort George G Meade | $1,796 | USAA | $1,285 |
Glenelg | $1,800 | Nationwide | $1,369 |
Odenton | $1,800 | Nationwide | $1,371 |
Forest Hill | $1,801 | Kemper | $1,348 |
Garrett Park | $1,801 | Kemper | $1,311 |
Dayton | $1,803 | USAA | $1,371 |
Brinklow | $1,804 | Kemper | $1,423 |
Olney | $1,805 | Kemper | $1,423 |
Factors that impact cheap rates in Maryland
There are many factors that can impact cheap car insurance in Maryland. Your age and driving profile are factors that can cause auto rates to vary widely. Below, we compared average rates for different driving infractions and teen drivers to offer examples of how different factors can impact the cost of your car insurance.
Insuring a teen driver
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 for young drivers who have less experience behind the wheel. It may be worth considering these carriers if you’re looking to get cheap insurance in Maryland with a young driver.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Allstate | $975 | $4,183 |
USAA | $1,082 | $2,849 |
Encompass | $1,034 | $2,610 |
Geico | $1,370 | $3,934 |
Erie | $1,461 | $3,618 |
Getting a speeding ticket
When a driver gets convicted of 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. After careful analysis, these are the five of the cheapest car insurance companies in Maryland if you have a speeding ticket.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Auto-Owners | $280 | $1,051 |
Geico | $285 | $871 |
State Farm | $285 | $1,103 |
National Mutual Insurance | $296 | $1,102 |
Erie | $297 | $1,166 |
Getting into an at-fault accident
Causing an accident will typically affect affordable car insurance for Maryland drivers – even if you have minimum coverage and do not use your collision insurance to cover your car’s damage. Maintaining a clean driving record can generally help you save 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 for drivers with accidents on their records.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Hastings Mutual | $259 | $656 |
Central Mutual Insurance | $306 | $952 |
State Farm | $321 | $1,219 |
Geico | $322 | $1,015 |
Erie | $325 | $1,256 |
Being deemed a high-risk driver
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.
Car insurance company | Average annual minimum coverage premium | Average annual full coverage premium |
---|---|---|
Progressive | $378 | $1,385 |
State Farm | $379 | $1,405 |
USAA | $390 | $1,491 |
Geico | $411 | $1,210 |
Frankenmuth | $452 | $2,240 |
Minimum coverage requirements for Maryland drivers
Maryland law requires that all drivers carry at least a minimum amount of coverage for bodily injury liability and property damage liability. This requirement is to ensure that there is at least some coverage for the costs that others incur when you damage another party’s vehicle or injure them in accidents where you are at fault. 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. 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 you have physical damage coverage for your own vehicle. Even when you opt for full coverage, you can still get cheap Maryland car insurance.
How to get the cheapest car insurance in Maryland
Getting the cheapest car insurance in Maryland is a goal for many drivers. If you are looking for how to save on car insurance in Maryland, consider these tips.
Compare quotes
Car insurance rates can vary by insurance company, even with the same driving profile and coverage options. Getting at least three quotes for the same coverage limits from different companies and comparing them can help you find the cheapest car insurance in Maryland for your individual needs and driving profile.
Maintain a clean driving record
Not only can you typically get the cheapest car insurance in Maryland with a clean driving record, but it may come with other advantages too. For example, you may get access to safe driving discounts and become eligible for accident forgiveness, depending on your car insurance company. With accident forgiveness, your rates typically won’t increase if you cause an at-fault accident, which can be another way to protect your cheap Maryland car insurance rates.
Review your coverage
Some people like to set their insurance coverage and forget it, but reviewing your coverage at each renewal may help ensure you are only paying for the coverage you need. If you experience a life event, like getting married, divorced or adding a person to your household, discuss it with your agent and check your policy, making coverage changes if necessary.
Car insurance discounts in Maryland
Applying discounts is another way you may be able to get Maryland car insurance savings. Stacking discounts can help you maximize savings, so be sure to ask which discounts are available so you can apply as many as you are eligible for.
- Young driver discounts: Although insuring young drivers can be expensive, there are ways to save. Drivers with a B or above GPA can get a good student discount. Taking advantage of telematics programs to demonstrate safe driving habits is another way for teens to save on Maryland car insurance.
- Safe driver discounts: A safe driving discount is 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 typically offers a large discount on car insurance. Some carriers offer discounts for bundling other policies with auto insurance, like life 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
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for 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 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 2021 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.
Bankrate Scores
Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.