Baltimore is the most expensive city in the state of Maryland. With over 600,000 residents, it is the most populated city in Maryland. It has multiple educational institutions, and a large number of students study in these institutes from all over the state. The city has several highway networks that connect other cities in the state. Car insurance in Baltimore is on the pricier side. Hence, it is crucial to compare the rates and check the best car insurance companies before buying insurance so that you can get the best car insurance in Baltimore Maryland.
It is illegal to drive without car insurance in Baltimore. It is a legal requirement to at least have an auto insurance with minimum coverage for all drivers. All drivers must have liability coverage, and the minimum required liability coverage limits are:
- Bodily injury – $30,000 per person
- Bodily injury – $60,000 per accident
- Property damage – $15,000
- Protection for personal injury coverage – $2,500
Types of Coverage for Car Insurance in Baltimore
It is optional in Baltimore to have Collision coverage and comprehensive coverage. It is advisable to at least opt for a comprehensive coverage deductible of $250 and collision insurance deductible of $500. It is also recommended to buy additional coverage to take care of your expenses if you happen to be in an accident.
Uninsured motorist insurance coverage will protect against any damages caused by an uninsured motorist. If there happens to be in a hit and run case, your insurance coverage will pay medical expenses, property repairs, and lost wages. Underinsured motorist insurance coverage is useful when the at-fault driver has limited liability, and the expenses exceed the injuries. Medical payments insurance coverage covers medical expenses. It is your health care insurance coverage. Consult your policy provider to ensure you’re not duplicating your medical coverage.
It is your health care insurance coverage. Consult your policy provider to ensure you’re not duplicating your medical coverage.
Factors that Determine the Best Car Insurance in Baltimore Maryland
The factors taken into consideration by insurance providers in Baltimore are age, credit score, driving history, and marital status. A tarnished credit score will lead to paying higher insurance charges. If you repair your credit score from poor to good, the insurance company will lower the insurance rate. A good credit rating will gain you a good insurance rate. Hence, maintaining your credit score is beneficial for a reasonable or cheaper insurance rate. Insurance companies take into consideration the age of the driver, as they view a certain age bracket as mature and experienced drivers. Teenagers pay a more expensive premium amount as they are viewed as inexperienced drivers. The premium starts to decline from the age group of 20 onwards. Drivers in the age group of 70 pay the lowest premium rate.
Driving history with at-fault accidents, reckless driving, and violations of driving laws lead to higher insurance cost. An excellent driving record will give you a cheaper insurance rate. A single male driver or a divorced driver pay lesser premium than a married driver. Female drivers pay a tad lesser premium amount than male drivers. Widowed drivers pay a cheaper premium amount than single status drivers.
A motorist staying in a location with a high number of auto theft will also have to pay a high insurance rate. A location with high auto theft is considered risky by insurance companies. The number of claims filed is more in such location as compared to a location with less auto theft. A locality with a high number of fatal accidents and uninsured motorists can also lead to high insurance rates. Hence, staying in a good locality with less or no auto theft, crime, or uninsured motorist can get you cheaper insurance rate.
NAIC ratings should be checked before buying auto insurance. Before buying insurance, compare rates and benefits from at least between 5 reputed companies. Once you have selected around 2 to 3 companies, ask for a quote before buying insurance. It is crucial that you buy insurance from a company that you can trust.