Finding affordable car insurance in Maryland can be a challenge, but it’s not impossible. Every Maryland driver is required to have a minimum coverage for accidents. However, high-risk drivers often find themselves unable to get cheap car insurance. By following a few key strategies, you could secure the coverage you need without breaking the bank.
Understand Maryland’s Minimum Coverage Requirements
Before you start shopping for car insurance, it’s important to know the state’s minimum coverage requirements. In Maryland, all drivers must meet the minimum coverage requirements. This includes, $30,000 for bodily injury per person, $60,000 for bodily injury per accident, and $15,000 for property damage in liability insurance. Drivers must also carry $2,500 in personal injury protection as well as uninsured/underinsured motorist coverage. Understanding these requirements helps you determine the minimum coverage you need, which could impact the cost of your premiums.
Compare Insurance Quotes
The easiest way to find cheap car insurance is to shop around and compare quotes from multiple insurers. Rates can vary significantly depending on the insurer, so it’s important to get quotes from at least three to five providers. You can do this easily through online comparison tools or by directly contacting insurance companies. When comparing quotes, make sure you’re comparing similar coverage levels and policy features to ensure a fair comparison.
Take Advantage of Discounts
Most insurance companies offer discounts that can help lower your premiums. If you have a clean driving record with no accidents or violations, you may qualify for a safe driver discount. You could also receive a discount for various safety features on your vehicle. This include anti-lock brakes, air bags, and security systems.
Students with high grade point averages could also benefit from insurance discounts. This is often crucial, as many high-school and college-aged drivers are considered high risk and often face increased insurance costs. You could also save money by driving less frequently. Carpooling or taking public transport could reduce your milage and help you get a discount on your insurance plan.
Consider Increasing Your Deductible
One way to lower your car insurance premium is to increase your deductible, the amount you pay out-of-pocket in the event of a claim. By choosing a higher deductible, you’re taking on more financial responsibility, but your insurance company may reward you with a lower premium. However, be cautious about raising your deductible too much, as you want to ensure you can afford the out-of-pocket costs in case of an accident.
Drive a Safe and Affordable Car
The type of car you drive can affect your insurance rates. Generally, cars that are safer and less expensive to repair will cost less to insure. Certain cars, like sports cars or luxury vehicles, are more expensive to insure due to their higher repair costs and increased risk of theft. When purchasing a new vehicle, consider the cost of insurance in addition to the vehicle price.
Get a Free MAIF Quote Today
Getting cheap car insurance in Maryland is possible with the right strategy. By maintaining a clean driving record, considering higher deductibles, and keeping a good credit score, you could significantly lower your premiums. If you’re struggling with your insurance payments, MAIF is here to help. Contact us today to get a free quote and see if you qualify for an affordable insurance plan.