Finance Insurance

the Highest Rates Insurance Companies Can Charge Drivers in Maryland

Published at 01/31/2012 14:24:57

The Highest Rates Insurance Companies Can Charge Drivers in Maryland

Maryland is popularly known for many things. Unfortunately, one of its renowned features is the high rates insurance companies charge. Car owners in Maryland have to come up with alternatives so as not to “drive too much” because of their car insurance premiums. The average car insurance premium in Maryland is higher than most states in the U.S. The city of Baltimore was averaging at close to $2,500 in premiums. The high rates insurance companies charge are not equivalent to the rest of the nation.


According to the insurance requirements in Maryland, there are set limits to the amount of money each car owner has to pay. This is of course in regards to the type of insurance they select. The rates insurance companies will request are pretty similar, so it merely depends on one’s preference to a particular company.

For bodily injury liability, a minimum amount of $30,000 is required for every injured person in the vehicle. Under the same liability, for any accident that occurs, a total of $60,000 is payable. For property damage liability, the insured has to pay a minimum of $15,000. This is referred to as the 30/60/15 plan. These rates, insurance rates, are applicable to every motorist in Maryland, uninsured or underinsured.


The high insurance rates have been in effect since last year. It is worth noting that a driver can opt to get higher rates, insurance rates, with his insuring company. Some insurance companies will advice their clients to get bodily injury liability of $100,000 for every injured person and $300,000 per accident.

When it comes to property damage liability, the rates insurance companies suggest are $100,000. This is because in the state of Maryland, the Tort System applies. If a driver is at fault, he and his insurance company is responsible for all the costs incurred as a result of the damage. Therefore, if you are at fault and cannot meet the expenses, you will have to answer to a court of law. However, the higher the coverage, the safer you are in case of an accident. This is why the rates insurance companies’ request of their clients’ are so high.

Tips and comments

Even though the rates insurance companies’ charge is pretty high, it is against the law in Maryland to drive a vehicle without insurance. There are of course insurance companies that will promote cheap auto insurance. However, it is important to remember that the low rates insurance companies will charge might later be ridiculous expenses that you will have to pay. So, if you are going to get advice on the insurance coverage to apply for, make sure you are getting it from someone who is knowledgeable.

Additionally, know the rates insurance companies are offering so that you have an understanding of the whole process. Bottom line; pick an insurance policy that covers you completely. You may not be able to pay for the really expensive coverage but, pay insurance that is well suited for you. Accidents can occur anytime. It is good to know that you can at least meet your hospital bills, if nothing else.