Staying abreast of auto insurance in Maryland news and trends will help business owners obtain and keep affordable commercial auto insurance rates. Car insurance in Maryland is more expensive than nearly 40 other states across the country.

The cost of auto insurance in Maryland depends on the driver’s driving record, credit history, age, area and the type of vehicles driven. However, in many cases, car insurance in Maryland is still quite expensive for many residents. As a result, the Maryland Governor and other state officials are constantly working with insurance companies in Maryland to reduce insurance costs to drivers. Consider the following auto insurance in Maryland news and trends on which you should stay informed.

1. Stay on the lookout for changes in Maryland car insurance regulations.

2. Research the latest news on ways to obtain affordable Maryland car insurance.

3. Be on the lookout for new Maryland car insurance product offerings.

Action Steps
The best contacts and resources to help you get it done

Check with state departments for changes in car insurance in MD laws

Insurance laws and regulations are ever changing. Because having adequate commercial car insurance is a must for all business owners, it's important that businesses stay updated on state requirements that could impact their ability to obtain and keep affordable Maryland car insurance.

I recommend: The Maryland Insurance Administration provides information on Maryland auto insurance rates and other insurance-related news and trends. The Maryland Automobile Insurance Fund, a state-funded, Maryland auto insurance provider, also provides drivers with a wealth of information on obtaining car insurance in MD.

Keep a watchful eye on Maryland car insurance product news and trends

With assistance from the Maryland insurance commissioner, Progressive Auto Insurance recently introduced MyRate, an auto insurance program that offers affordable Maryland auto insurance rates to residents and business owners who consistently drive safe and responsibly. Pay-as-you-drive insurance is another option that offers significant savings on Maryland auto insurance.

I recommend: Check out AutosInfo, an online, state-specific insurance guide, for detailed information about news and trends on car insurance in Maryland. You may also consider regularly visiting Insurance & Financial Advisor or Insurance Headlines for news on auto insurance in Maryland.

Do your homework to find affordable Maryland car insurance rates

Shopping around is the best way to obtain affordable Maryland car insurance rates and reliable claims service. There are quite a few websites from which businesses can obtain free online Maryland auto insurance quotes from a range of reliable and well-known Maryland insurance companies.

I recommend: Consider checking out SecureInsuranceQuotes.com for online quotes and news and tips on obtaining Maryland car insurance. You may also visit the DMV.org website for information on Maryland auto insurance state requirements and other tips on obtaining and keeping automobile insurance in Maryland.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When choosing a Maryland car insurance company, it's a good idea to study the news and trends of the particular insurance provider. Before making a final decision, you should be well informed on the insurance company's longevity, claims and customer service abilities and its insurance rates and discount offerings.

Car insurance in Maryland, like gas or rent, is expensive yet necessary. It doesn't just protect your car from dents; it protects you and other drivers from both bodily harm and financial ruin. For that reason, Maryland car insurance isn't just something that drivers in the "Old Line State" should have; it's something they must have.

Car insurance in Maryland doesn’t have to break the bank. You may be able to save by shopping around, declining unnecessary coverage and trading high deductibles for lower premiums. Indeed, you can cut costs, but you can't cut corners. If you drive in Maryland, you need car insurance in Maryland. Here's what kind and how much, according to Maryland state law:

1. When buying auto insurance in Maryland, drivers must purchase bodily injury liability (BIL), property damage liability (PDL), personal injury protection (PIP) and uninsured motorist bodily injury (UM) coverage, as well as uninsured property coverage; collision and comprehensive coverage are recommended, but not required.
2. Auto insurance in Maryland must include BIL coverage of at least $20,000 per person and $40,000 per accident for costs associated with the injury or death of others in a wreck.
3. Auto insurance in Maryland must include PDL coverage of at least $15,000 for damage to another person's property in an accident.
4. Auto insurance in Maryland must include PIP coverage of at least $2,500 for costs associated with your own injuries or death in the event of an accident.
5. In Maryland, car insurance must include at least $20,000 per person and $40,000 per accident in uninsured motorist bodily injury (UM) coverage, in case you’re in an accident with an uninsured or hit-and-run driver, and at least $15,000 for damage to uninsured property.

Action Steps
The best contacts and resources to help you get it done

Browse Maryland auto insurance rates online

If you need Maryland auto insurance, the Internet is a good starting point. Available from all major car insurance companies in Maryland, online quotes offer a fast and convenient way to research and compare premiums.

I recommend: Get comprehensive online quotes from car insurance companies in Maryland at websites like InsWeb, Insurance.com, InsuranceUSA and InsuranceFinder, or from companies like Progressive and Esurance, which quote both their own and competitors' rates.

Get quotes for car insurance in Maryland from national providers

Most major car insurance carriers offer auto insurance in Maryland and all provide competitive Maryland car insurance rates.

I recommend: Among the largest and most popular auto insurance companies in Maryland are AIG, Allstate, Chubb, Farmers, GEICO, The Hartford, Liberty Mutual and State Farm. National associations like AAA and AARP are also good sources for affordable auto insurance in Maryland.

Get car insurance in Maryland from local and regional companies

The cost of auto insurance in Maryland can vary dramatically; for some of the most affordable rates, consider locally based providers.

I recommend: For automobile insurance in Maryland, try Maryland-based companies like The Peninsula Insurance Company, Brethren Mutual Insurance Company and IAICO. Also consider local programs like the Maryland Automobile Insurance Fund, which was created in 1972 for drivers who can't easily find auto insurance in Maryland.

Use an independent agent to find Maryland car insurance bargains

Buying car insurance in Maryland via an independent insurance agent can expose you to new resources, practical advice and special rates.

I recommend: To find an independent agent who can sell you car insurance in Maryland, search the membership directory for the Independent Insurance Agents of Maryland, or for its parent association, the Independent Insurance Agents & Brokers of America.

Choose auto insurance companies in Maryland that you can trust

Before doing business with Maryland auto insurance providers, review their records with consumers to make sure they are reliable, reputable and responsible.

I recommend: If you subscribe to Consumer Reports, you can check up on car insurance companies in Maryland. Another good resource is the Maryland Insurance Administration, which licenses Maryland car insurance companies and publishes market conduct exams analyzing the business practices of auto insurance companies in Maryland.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Consider buying more coverage than is required by state law; minimum Maryland car insurance might not be enough to cover car repairs or medical bills after an accident.
• •  Penalties for drivers who don't have Maryland car insurance include driver's license and license plate suspension and cash fines.
• •  If you're leasing or financing your car, dealerships might require you to have more and better Maryland auto insurance than is required by state law.
• •  Higher deductibles typically mean lower premiums and more monthly savings on auto insurance in Maryland.

Pricing and costs of auto insurance in Maryland are dependent upon the driver’s driving record, credit history, age, area and the type of vehicles driven. Maryland car insurance laws require all drivers, including commercial drivers, to purchase liability coverage as well as a minimum of $2,500 in personal injury protection coverage.

In addition to applicant-based factors, the pricing and costs of auto insurance in Maryland is also affected by the state's insurance requirements. Laws governing car insurance in Maryland also requires minimum coverage limits of $20,000 per person for bodily injuries, up to $40,000 for all injured individuals and $15,000 for damage caused to the other driver’s property. Consider the following tips to help you get the best rates for commercial car insurance in Maryland.

1. Verify your credit history before applying for car insurance in MD.

2. Check your driving record for inaccuracies.

3. Purchase economical commercial cars for the best rates on car insurance in Maryland.

Action Steps
The best contacts and resources to help you get it done

Pull your credit reports before applying for car insurance in Maryland

It's a good idea to pull your credit reports annually to identify any errors. Because pricing and costs of auto insurance in Maryland are dependent upon your credit, it's a good idea to make sure all errors that negatively impact your score have been removed before you submit your commercial insurance application.

I recommend: Visit the Maryland Insurance Administration to obtain information on credit agencies in Maryland. You may also consider visiting the Federal Trade Commission website to order free annual credit reports from the Maryland credit agencies.

Get the lowest price on car insurance in MD with a good driving record

A good driving record is a key factor in determining your rate for auto insurance in Maryland. Knowing where you stand can help you choose insurance companies in Maryland that are able to offer competitive rates based on a less-than-perfect driving record.

I recommend: You may consider calling the Elaine Grossage Agency, a Maryland auto insurance provider. ABR Insurance, a Maryland car insurance company, offers affordable automobile insurance in Maryland for business owners with less-than-perfect driving records.

Qualify for low rates on commercial car insurance in Maryland

Purchasing economy commercial cars will allow you to qualify for a low rate for car insurance in Maryland. For example, you may receive a higher auto insurance quote from Maryland car insurance companies if your company car is an SUV versus a four-cylinder compact car. Be sure to think about your commercial driving needs and purchase vehicles that make sense for your driving patterns.

I recommend: You may consider contacting a Progressive Insurance commercial auto insurance agent in the Maryland area to discuss which cars carry the lowest insurance rates. You may also check out the William M. Sparks Insurance Agency, a firm that works with Erie Insurance Group. Compare Maryland auto insurance quotes from multiple insurors on at Insurance Noodle, NetQuote, InsuranceQuoteOnline, MostChoice or USInsuranceOnline.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Having adequate insurance is a must for all business owners. It's a good idea to protect your business by insuring all commercial vehicles at limits above the Maryland auto insurance coverage minimum protection amounts.

Having auto insurance can help protect you from losses in connection with car repair, medical bills and legal claims associated with auto accidents. Auto insurance guidelines vary by the state in which you live or conduct business. If you are a resident or conduct business in the state of Maryland, it’s important that you familiarize yourself with key terms relating to auto insurance in Maryland to ensure compliance with state insurance laws. Maryland requires all drivers to meet the state minimum insurance requirements. Learn the key terms for auto insurance in Maryland to make sure you fully understand and comply.

Action Steps
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Bodily injury liability limits

Bodily injury liability limits are the minimum amounts of liability coverage that you can purchase. Limits of liability vary from state to state. The basic limits of liability in Maryland are $20,000 per person, $40,000 per accident and $15,000 for property damage.

I recommend: Read more about bodily injury liability limits at Car Insurance.com.

Uninsured/underinsured motorist

This type of coverage pays the policyholder and any passengers for bodily injuries caused by the owner or operator of an inadequately insured car. Maryland requires that all vehicle operators/owners carry a minimum liability and property damage coverage.

I recommend: Find out the state of Maryland requirements for uninsured/underinsured motorist at Alexander & Cleaver.

Personal injury protection (PIP)

Personal injury protection (PIP), sometimes called economic loss coverage, is insurance that pays for medical expenses, loss of wages and other necessary payments to any insured individual who is injured during an auto accident. PIP is payable regardless of which driver caused the accident.

I recommend: Find out more about PIP coverage and get quotes for insurance from a variety of insurance companies from The Unofficial DMV Guide.

Collision insurance

Collision insurance covers losses associated with the policyholder's vehicle during an auto accident. Insurance companies are required to pay only fair market value for any damages incurred.

I recommend: Learn more about Maryland collision insurance at WSMT Insurance.

Other than collision (OTC) insurance

Other than collision coverage, also known as comprehensive insurance, covers the cost of losses associated with events other than collision, including fire, theft, flood and various other perils.

I recommend: Peninsula Insurance provides more information about other than collision insurance.

Arbitration clause

An arbitration clause is terminology used in insurance policies that requires all parties to arbitrate disputes in the event the insured and the insurance provider can't agree on who is obligated to cover the loss or the amount of payment for auto claims. This language is unenforceable and can't be used in the state of Maryland.

I recommend: Learn about Maryland guidelines on arbitration at Miller & Zois.