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Maryland Factors that Affect Insurance Rates

Though Maryland auto insurance can cost a lot, knowing which factors affect insurance rates in the state can help you save as much as possible. Since almost everyone would like to save money on car insurance, it's important to educate yourself on these factors. Then, you'll know which ones are in your favor, which ones aren't, and how to leverage the ones that you can change.

Factors About You

Many of the factors that go into determining your automobile insurance rates pertain to characteristics about you. Some of these are things you can change and some of them are not, but it's important to know about them either way so you can get a feel for where you stand with the insurance companies.

Your gender plays a role in determining how much you pay for Maryland automobile insurance. Women will pay less than men, because they have been statistically shown to get into fewer accidents. In addition, your age is a factor that affects your auto insurance rates. Drivers under the age of 25 will pay the most for their coverage, because they are more likely to get into serious accidents. Most auto insurance companies attribute this to the fact that they have less impulse control than older drivers and are more likely to consider themselves invincible. Drivers over the age of 55 will also pay more for their insurance, because certain characteristics of old age can cause accidents.

Whether or not you are married is also a factor influencing your car insurance premiums. Due to the fact that they have an increased sense of personal responsibility and because they are more grounded, married people will pay less for their coverage than those who are not married.

Your job and your hobbies can also affect your insurance rates. If you have chosen a dangerous or risky profession, or if you like to do things in your free time that are potentially dangerous, you could pay more for automobile insurance. Accepting a risky job or choosing risky hobbies indicate a willingness to take risks that other people do not have. Auto insurance companies have shown that people who live risky lives outside of their cars also take more risks while driving, and so pay more for insurance.

Your overall health can also influence your car insurance rates. While it does not influence how likely you are to get into an accident, it does influence how likely you are to be seriously injured if you are in an accident. Since your insurance company will be more likely to pay more money if you are more seriously injured, you may pay more for coverage if you are in poor health.

The most important factor about you that will affect your insurance rates, though, is your previous driving record. This includes any accidents you've been in, any other claims you made against your auto insurance, and any tickets or moving violations you've received. If your driving record is clean, you will pay less in auto insurance than you will if you have accidents, claims, or tickets.

Other Important Factors

There are several features that your car can have that will influence your auto insurance rates. The overall cost to replace your car, which is influenced by its make, model, features, and age, influences your insurance costs. The more it would cost to replace your vehicle, the more you will pay in auto insurance premiums.

In addition, extra safety and/or anti-theft features can cause your premium rates to be lower. Different insurance companies offer discounts based on different features, but ones that often qualify for the discount are anti-lock brakes, multiple airbags, a LoJack device, and a car alarm. It may even be worthwhile to install some of these features if your vehicle does not already have them.

Where you keep your car will also influence your auto insurance rates. If the vehicle is kept in a garage, it is less likely to be vandalized, stolen, or damaged by elements than a vehicle kept outside or even under a carport. Owners of garaged cars will pay less for their insurance than owners of cars kept outside. How much you drive, whether you live in an urban area or rurally, and whether you have any auto insurance policy lapses in your history will also affect your insurance rates.

In addition to the above factors, be sure to ask your auto insurance company if there are other factors they use to determine your premiums. Some insurance companies may have factors that others do not. Also, mention any factors that should work in your favor to the company before you purchase a policy, to make sure they get taken into account when your premium rate is determined. When you do these things, you should find yourself saving on your Maryland car insurance.


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