Best Car Insurance in Maryland

The #1 car insurance company is State Farm because it is the largest auto insurer in the U.S., with a market share of 16%. State Farm insures over 80 million people and offers coverage in all 50 states.

Largest Auto Insurance Companies in America

Together, these 10 companies own more than 70% of the auto insurance market share in the U.S. As a result, it shouldn't come as a surprise that these companies tend to be the best options for most types of drivers.

Best Car Insurance Companies by Category

To learn more, check out WalletHub's guides to the best car insurance and the largest auto insurers.

Drivers in Maryland need $30,000 of bodily injury liability insurance per person (up to $60,000 per accident) and $15,000 of property damage liability insurance. Maryland also requires uninsured motorist protection. UM replaces the liability coverage an at-fault driver should've had and pays for your costs up to your policy limits.

Here's How Much Car Insurance Drivers Need in Maryland:

If you lease or finance your car, you may be required to carry coverage types that are not mandatory under Maryland law. Lenders usually require comprehensive and collision insurance. Collision insurance covers repairs to your car when you hit another car or object. If the damage to your vehicle was caused by something other than a collision—like a natural disaster, vandalism, falling objects, or animals—it is most likely covered by comprehensive insurance. Lenders may also require gap insurance, which covers the difference between what you owe on your loan or lease and what the vehicle was worth if it gets stolen or totaled.

Even if you're not required to carry these optional coverage types, you may still need them. You can learn more about when to drop optional coverage and the penalties for driving without insurance in Maryland to make sure you're paying for the coverage you need.

Car insurance in Maryland is $87 per month for minimum coverage and $211 per month for full coverage, on average. The cheapest insurance companies in Maryland are Geico, Travelers and Erie, and getting quotes from several companies can help you find the best deal.

Average Cost of Car Insurance in Maryland by Category

• Clean driving record: $87 per month
• After an at-fault accident: $131 per month
• Driver with poor credit: $132 per month
• Teen driver: $225 per month
• After a DUI: $154 per month

The average cost of car insurance in Maryland is 43% higher than the national average auto insurance premium, and Maryland ranks 44 out of 50 for the most affordable car insurance rates in the U.S.. There are several factors that affect how much you'll pay for car insurance in Maryland, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from.

Finally, it's worth noting that car insurance premiums in Maryland are average, compared to the cost of coverage in neighboring states like Delaware and Virginia. You can find more details in the table below.

Cost of Car Insurance in Maryland vs. Neighboring States

Note: Rates are an approximation based on a driver in Maryland with minimum coverage. Actual rates will vary.

The minimum liability car insurance requirements in Maryland are $30,000 in bodily injury liability insurance per person ($60,000 per accident) and $15,000 in property damage liability insurance. These requirements can also be written as 30/60/15.

Liability insurance pays for others' medical expenses and property damage after an accident you were responsible for. In addition, drivers in Maryland will need to purchase uninsured/underinsured motorist coverage equal to the minimum liability limits to satisfy the state's minimum car insurance requirements.

Types of Car Insurance Required in Maryland

• Bodily injury liability (BI)
• Property damage liability (PD)
• Uninsured motorist (UM)
• Underinsured motorist (UIM)
• Uninsured motorist property damage (UMPD)

If Maryland drivers do not purchase at least the minimum amounts of car insurance coverage required by Maryland law, they can face penalties for driving without insurance.

Drivers should also consider purchasing other types of car insurance in order to better protect themselves, given that liability insurance does not provide any coverage for the policyholder's own injuries or property. For instance, both collision insurance and comprehensive insurance cover damage to the policyholder's car. You will likely need these types of insurance if your vehicle is financed.

To learn more, check out WalletHub's guides on how much car insurance you need and cheap car insurance in Maryland.

Full coverage insurance in Maryland costs an average of $417 per month. A full coverage policy usually includes collision and comprehensive insurance, plus the types of coverage required by Maryland law. In Maryland, liability insurance and uninsured motorist are mandatory for all drivers.

Average Cost of Full Coverage Insurance in Maryland

Note: Premiums are average rates for a good driver in Maryland; individual premiums will vary.

How to Get Cheaper Full Coverage Insurance in Maryland

1. Compare quotes from several companies to make sure you're getting the best deal.
2. Increase your deductible. Higher deductibles lead to lower premiums, but remember to only pick a deductible you'd be able to afford in an emergency.
3. Don't forget to make sure you're getting all the discounts you can.

To learn more, check out WalletHub's guide to full coverage car insurance.