Maryland auto insurance
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Maryland auto insurance covers you against the unexpected
With nearly 6.2 million people calling Maryland their home state, the roads can get very congested. The state is the 19th most populated in the U.S., although only eight states are smaller. If you are among those driving on Maryland's roadways, having high-quality Maryland auto insurance can keep you covered against an accident.
More than 4.3 million people are licensed to drive in Maryland, traversing more than 71,000 miles of road. While most drivers follow the law and do their best to stay safe, accidents can happen. The state averages more than 110,000 crashes per year. Some of the most dangerous roads in Maryland are:
• Interstate 95.
• U.S. 1.
• U.S. 301.
Maryland's weather can affect driving safety. The state typically receives more than 20 inches of snow annually, and winter brings the risk of icy and snowy roadways. However, summertime is when people travel to the Maryland area for vacation. Whether headed to the ballpark, the boardwalk or a museum, more drivers on the road make accidents statistically more likely.
The high rates of Maryland auto insurance
Maryland residents pay a higher price for car insurance than the national average. Minimum coverage costs an average of $1,056 annually or $88 monthly in the Old Line State. This price is quite a bit higher than the national average of $675 annually. In fact, only a few states have higher average auto insurance costs.
Getting several Maryland auto insurance quotes from VIU by HUB before buying a policy can help you make comparisons.
Why car insurance is so expensive in Maryland
Maryland has a high minimum coverage requirement for auto insurance. The state requires drivers to carry liability insurance that provides at least:
• $30,000 for bodily injury.
• $60,000 for two or more people.
• $15,000 for property damage.
The state also requires drivers to carry Uninsured and Underinsured Motorist coverage — $30,000 per person and $60,000 per accident. This coverage pays for expenses when you are hit by an at-fault driver who either didn’t carry insurance (uninsured) or didn’t carry enough insurance to address all the medical bills or car repair costs (underinsured). Despite the requirement that all Maryland drivers purchase insurance, about 15% of Maryland drivers are uninsured.
Driving uninsured incurs a penalty of a $150 fine for the first 30 days. After that, you pay $7 for each additional day, up to a maximum of $2,500 per car. The state will also suspend your registration.
In addition to Maryland’s insurance requirements for higher limits than many other states have, Maryland has a high rate of stolen vehicles. About 186 cars per 100,000 are stolen in the state annually. Since drivers typically file claims for stolen cars, insurance companies raise their rates to accommodate costs.
Factors that affect car insurance rates
Your personal factors can affect how much you pay for auto insurance.
Insurance provider
Your premiums can vary according to the insurance company you use. Whether you want the cheapest insurance on the market or additional coverage beyond the basics, getting Maryland auto insurance quotes from VIU by HUB shows you the available coverage options and prices.
ZIP code
While you pay a higher average cost in Maryland than other states, where you live in the state also factors into your premiums. If you live in an area of the state with higher accident rates or a high number of uninsured drivers, you'll end up paying more for coverage.
Driving violations
A driver with a clean record pays significantly less than someone with infractions. A DUI can raise your premium by 50% and a speeding ticket can increase your premium by at least 20%.
Age
Most insurers factor in a driver's age when setting premiums. Younger drivers are usually less experienced and considered to be at higher risk for accidents. A teenager's premiums can be as much as three times higher than a 45-year-old's. Even 20-something-year-old drivers pay about 25% more annually than their 40-year-old counterparts.
Credit score
Insurance companies calculate that people with lower credit scores are more likely to file a claim in an accident. Therefore, they charge higher premiums. You can lower your insurance premiums by increasing your credit score.
Vehicle make and model
Older cars are cheaper to insure than newer ones, and sports cars are more expensive than sedans. Cars depreciate as they get older, making them less costly to pay for in the event of an accident. Sports cars tend to cost more overall and have more expensive replacement parts. Therefore, they cost more to insure.
While your personal factors play a role in determining what you pay, you can obtain Maryland auto insurance quotes through VIU by HUB to find the best deals.
Why you need dependable coverage for your car
If you are a Maryland driver and it seems to you that the highways are crowded, you're right. Maryland has the dubious honor of having the highest highway density rate in the country. States with dense highways have more crash incidents, raising the price of auto insurance for every driver. With so many cars on the roads in Maryland, it is imperative that you get good Maryland auto insurance for your vehicles.
This information is intended for general informational purposes only and is not intended to constitute legal advice.