Maryland – Factors that Affect Auto Insurance Rates


Maryland roads are some of the busiest in the country. Majority of the Maryland state is in and around the highly congested cities of Baltimore. With such high rates of traffic congestion, it is but natural that the state of Maryland has imposed stringent auto insurance rules. The state of Maryland has, apart from the minimum liability common in many states, has also made two other insurance overage policies mandatory. These are the uninsured motorist’s coverage and PIP or personal injury protection policy.

The minimum liability for the state of Maryland is fixed at twenty thousand dollars per person for bodily injury and forty thousand dollars for bodily injury in total. Mandatory property damage coverage is for the amount of fifteen thousand dollars.

Uninsured motorist’s coverage is for the same amount as minimum liability and Personal Injury Protection is for the amount of two thousand five hundred dollars. However, these are just the minimum sums the government has fixed. Most of the accidents will exceed these costs. Hence, you must be insured for much larger sums of money. Industry experts suggest a sum a hundred thousand dollars per person and three hundred thousand dollars in total for bodily injury alone.

A person must be aware of the different factors that affect insurance rates if he is going to be driving. These are very large sums and if there any changes that might help him save some money, he should be aware of them. This article focuses upon a few such factors that influence insurance rates.

There are factors that you can alter easily and a few factors that you cannot. The first and the foremost among the factors you cannot change is your age. Most of the statistics show that drivers below the age of twenty five are bad drivers and are more prone to accidents. These drivers will be charged higher premiums compared to the older drivers.

Drivers above the age of fifty and below sixty five are known to be very safe drivers and hence will be charged the lowest of premiums. Women have been proven to be statistically safer drivers. They are charged much lower rates. It has also been proven that people who are married and have families to go home to will drive a lot safer than unmarried people. Hence, the premiums on insurance of unmarried people are a lot more.

Among the factors that one can alter, the driving record is very important. The driving record shows what kind of a driver you are. A safe driver with no tickets will be charged low rates whereas drivers with a lot of tickets and convictions are charged higher rates. The safety and security of your car play a role too. If your car has many safety features such as automatic seat belts and air bags, you will be charged much lower premiums and rates. Similarly, a car with security features such as alarms is very secure and will be charged low premiums. Your credit score will play a huge role as well. A good credit score will ensure you get a great insurance rate.