From fender benders on Baltimore Avenue to multi-car collisions on the Capital Beltway Inner Loop, accidents can happen anytime, anywhere and to anyone —even to the most careful drivers. Fortunately, a dependable car insurance policy can shield College Park drivers from the expensive costs associated with vehicle accidents. An independent insurance agent with an office in or near College Park can help you find the best and most affordable auto insurance policy to meet your specific coverage needs.
How Much Does Auto Insurance Cost in College Park, Maryland?
Maryland is the 11th most expensive state for auto insurance. The average cost of car insurance in this state is higher than the national average, and in College Park, the average rate is even higher. This may be attributed, in part, to the fact that the median age in this city is much lower than throughout the rest of the state.
- National average cost per year: $1,311
- Maryland average cost per year: $1,590
- College Park average cost per year: $1,719
In College Park, where rates are rather high, shopping around for the best car insurance rate is particularly important. Every insurance company you contact will provide you with a different quote. This is because costs are calculated individually based on a number of factors such as:
- The make, model, and year of the vehicle(s) you are insuring
- Your age, driving history, and credit score
- The amount of liability insurance you are including in your policy
- Whether you own or rent your home
- The auto theft rate and accident rate in the vicinity of your home
- Whether you are bundling your auto insurance with other policies like homeowners insurance or renters insurance
- Whether you qualify for any potential discounts such as a good student discount
Independent agents in College Park make comparison shopping easy by obtaining a selection of customized car insurance quotes for you.
Maryland Car Insurance Requirements
- Bodily injury liability: Required
- Property damage liability: Required
- Personal injury protection (PIP): Required
- Uninsured motorist coverage: Required
- Minimum liability limits: 30/60/15; coverage up to $60,000 for all persons injured in an accident, subject to a limit of $30,000 for one individual; and $15,000 coverage for property damage.
Maryland’s minimum car insurance requirements provide coverage to handle most collisions. However, if you cause a serious accident resulting in severe injuries and extensive property damage, your costs can easily exceed the limits of a minimum coverage policy. If that happens, you will be required to make up the difference out of pocket.
That is why many College Park drivers choose to purchase liability coverage in amounts that are higher than the state requires. Those who want even more liability coverage than their car insurance will allow also purchase umbrella insurance. An independent agent can help you compare costs for different levels of liability insurance so you can determine how much coverage you can reasonably afford.
Number of Uninsured Motorists in Maryland
Driving without insurance in Maryland is illegal. Those who are caught operating an uninsured vehicle can be fined, have their plates and registration revoked, and even potentially face jail time. Despite this, more than one in ten drivers on this state’s roadways does not have insurance.
- How many US drivers are uninsured? 13%
- How many Maryland drivers are uninsured? 12.4%
If you are in an accident that is caused by an uninsured driver, that person is required to pay for your resultant damage and injuries. Unfortunately, collecting this money can be extremely time-consuming and difficult unless you have uninsured motorist insurance. Although it is optional in many states, uninsured motorist insurance is required in the state of Maryland. It ensures that you will have the coverage you need if you are in a collision with an uninsured, underinsured, or hit-and-run driver. Your insurance company will cover your costs upfront and will then absorb the costs if they are unable to collect from the at-fault driver.
Number of Auto Thefts in College Park, MD
While the auto theft rate in College Park is relatively low, this does not mean that the risk does not exist. It is important that you keep your vehicle secured when you are away from it.
- National number of thefts per 1,000 vehicles: 2.28
- Maryland number of thefts per 1,000 vehicles: 2.0
- College Park number of auto thefts per 1,000 vehicles: 1.64
Comprehensive insurance is necessary for you to be reimbursed for auto theft. This coverage is often required by lenders until your car is paid in full, but once the vehicle is paid off, the coverage becomes optional. Also referred to as “other than collision” insurance, comprehensive coverage can compensate you for more than just car theft. It also covers loss or damage caused by a variety of other non-collision hazards such as falling objects, floods, structure fires, and vandalism.
Why Work with an Independent Insurance Agent?
An independent agent can be a great resource when you are buying coverage for your vehicle. These insurance professionals can explain your coverage options, answer your insurance-related questions, and provide you with a selection of customized auto insurance quotes. That way you can select the policy that is offered at the best price.
Contact an independent insurance agent in or near College Park to start comparing car insurance quotes.
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