Auto Insurance in Maryland
The average car insurance cost in Maryland is $1,825 per year for full coverage. Maryland requires minimum liability coverage of 30/60/15. The state's uninsured driver rate is 9.2%, which is below the national average of 12.6%.
Top auto insurers in Maryland: State Farm, GEICO, Erie Insurance. We recommend comparing quotes from at least 5 companies, as rates can vary by 50% or more between insurers for the same driver profile.
Home Insurance in Maryland
Homeowners insurance in Maryland averages $1,560 per year for $300,000 in dwelling coverage. This is below the national average of $1,820/year. Rates are influenced by natural disaster risk, construction costs, and local claim frequency in the Northeast region.
Health Insurance in Maryland
The average individual health insurance premium in Maryland is approximately $550/month before subsidies through the ACA marketplace. Many Maryland residents qualify for premium tax credits that reduce this cost to $50-$200/month.
Minimum Insurance Requirements
Maryland requires all drivers to carry minimum liability insurance of 30/60/15. This means: $30,000 per person for bodily injury, $60,000 per accident total for bodily injury, and $15,000 for property damage per accident. While these minimums are legally sufficient, most financial advisors recommend 100/300/100 coverage.
Top Insurance Companies in Maryland
The largest and most popular insurance companies in Maryland include:
- State Farm — Market leader in Maryland
- GEICO — Competitive rates and strong service
- Erie Insurance — Popular choice with good coverage options