Even the most cautious drivers can sometimes get into accidents. That is why Maryland vehicle owners are required to have auto insurance. From fender benders on Washington Boulevard to multi-car collisions on I-95, a reliable auto insurance policy can shield you from facing a large financial loss in the wake of a collision. Finding the best car insurance is easy when you work with an independent insurance agent in Laurel. These agents can provide you with a variety of auto insurance quotes so you can be sure you are purchasing a competitively priced policy.
Maryland Car Insurance Requirements
Every state has its own auto insurance requirements. In the state of Maryland, your car insurance policy must include, at a minimum, the following:
- 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.
A minimum coverage policy may be your least expensive option; however, it is not necessarily the best choice. While Maryland’s requirements are high enough to cover you for most minor collisions, a major accident — especially one that involves significant injuries —can easily exceed what a minimum coverage policy will cover. In that case you would be responsible for making up the difference. That is why many Laurel vehicle owners choose to purchase car insurance with higher liability insurance limits. Some people also purchase umbrella insurance policies to get even more liability coverage. Your independent agent can help you find the liability coverage you want at a price you can afford.
How Much Does Auto Insurance Cost in Laurel, Maryland?
Maryland is the 11th most expensive state for car insurance. The average car insurance rate in this state is significantly higher than the national average, and in Laurel, the average cost is even higher. This makes comparison shopping for the best rate even more important.
- National average annual car insurance cost: $1,311
- Maryland average annual car insurance cost: $1,590
- Laurel average annual car insurance cost: $1,601
Of course, the figures above can only give you an idea of how much you might be expected to pay. Car insurance costs often vary significantly from one driver to the next because they are calculated according to several different factors. Examples of things that can influence your cost include:
- The make, model, year of your vehicle(s)
- Your age, driving history, and credit score
- Whether you own or rent your home
- The estimated number of miles you drive each year
- The accident and auto theft rates in the vicinity of your home
- Whether you are bundling your coverage with another policy like home insurance or renters insurance
You may even qualify for discounted rates if you have taken a driver’s education course, have a good driving record, or are a student who is getting good grades. Because every insurance company has a different way of calculating rates, comparison shopping can save you a lot of money. An independent agent in Laurel can help you easily obtain and compare a selection of competitively priced car insurance quotes.
Number of Uninsured Motorists in Maryland
Driving without insurance is illegal. If you are caught driving without car insurance in Maryland, you will have your plates and registration revoked, be hit with expensive fines and fees, and can even face jail time if you are a repeat offender. Even so, more than one out of every ten drivers you are sharing the roads with in this state is operating an uninsured vehicle.
- How many US drivers are uninsured? 12.6%.
- How many Maryland drivers are uninsured? 12.2%.
If you are in an accident that is the fault of an uninsured driver, that person is required to pay restitution for your damage and any necessary medical treatment. Unfortunately, it can be very difficult and time-consuming to collect the reimbursement on your own. Uninsured motorist insurance ensures that you will get the compensation you deserve quickly and easily.
Uninsured motorist insurance is optional in many states, but in Maryland, it is required. This insurance covers your damage and injuries if you are in a collision with an uninsured, underinsured, or hit-and-run driver. Your insurance company will then attempt to collect the owed funds from the at-fault driver and will absorb the costs if they are unsuccessful.
Number of Auto Thefts in Laurel, MD
There are approximately 90 cars stolen in Laurel every year. The auto theft rate in this city is lower than the state rate, but higher than the national rate. This can cause car insurance rates to be a bit higher.
- National auto theft rate per 1,000 vehicles: 2.94
- Maryland auto theft rate per 1,000 vehicles: 3.89
- Laurel auto theft rate per 1,000 vehicles: 3.31
You cannot be compensated for an auto theft unless your policy includes comprehensive, or “other than collision,” insurance. It is optional, but most lenders will require you to carry it until your car loan is paid in full. Comprehensive insurance can be quite beneficial. It covers more than just auto theft. It also covers a wide range of non-collision damage such as that caused by falling objects, floods, structure fires, and property crimes.
Why Work with an Independent Insurance Agent?
Vehicle owners in Laurel can turn to a local independent agent for help when they are looking for the best auto insurance. These agents are free to work with a variety of insurance providers to help this city’s drivers find the most reliable and affordable policies.
Find an agent in or near Laurel to learn more. You can start comparing customized car insurance quotes in no time.
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