Car insurance in Maryland is mandatory for all drivers, as it not only protects the policyholder in case of an accident, but also others on the road.
One of the main benefits of car insurance in Maryland is financial protection in case of an accident. If you are at fault in an accident, your insurance will cover the cost of any damage or injuries you cause to others. Even if you are not at fault, your insurance can help pay for any damage to your vehicle.
The Average Car Insurance Prices in Maryland
The average price of car insurance in Maryland is around $1,450 per year, although this can vary depending on factors such as your driving history, the make and model of your car, and your age.
Car Insurance Carriers in Maryland
There are several insurance carriers that offer car insurance in Maryland, including major national companies like State Farm, Allstate, and GEICO, as well as local providers.
Types of Car Insurance Policies in Maryland
There are several types of car insurance policies available in Maryland, including liability insurance, collision insurance, and comprehensive insurance. Liability insurance is the most basic type of car insurance and is required by law. It covers any damage or injuries you cause to others in an accident. Collision insurance covers damage to your own vehicle in the event of an accident, regardless of who is at fault. Comprehensive insurance covers damage to your vehicle caused by non-collision events, such as theft, vandalism, or natural disasters.
Car Insurance Laws in Maryland
In Maryland, the minimum liability coverage required by law is $30,000 for bodily injury per person, $60,000 for bodily injury per accident, and $15,000 for property damage per accident. However, it is important to note that these limits may not be enough to fully protect you in case of a serious accident.
In Maryland, it is also illegal to drive without insurance or to provide false information to an insurance company. Violation of this law can result in fines, suspension of your driver's license, and even imprisonment.
Summary
Car insurance in Maryland is a necessary expense for all drivers to protect their own and others' financial well-being in case of an accident. The state has set the minimum liability coverage required by law and various insurance providers are available in the state to provide this coverage at different prices. It is important to research and compares policies and carriers to find the best coverage at a price that fits your budget.
To get the best rates on car insurance in Maryland, be sure to shop around and compare quotes from multiple carriers. Click on the offers below to get started.
Updated January 13, 2023