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How to Shop for Car Insurance in Maryland
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| Most of the information you will see on this page
has been researched from the Maryland Insurance
Administration's website. You can find a more detailed report here. |
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Comparison Shopping |
| It is very important to research for the best insurance
policy. There are over 200 car insurance companies
according to MIB's website; therefore,
it should be no surprise to you that the competition
to sell you a contract is high. Shopping for a television,
car or stereo should be no different than looking
for a good car insurance policy. According to the MIB's
website, "The best time to
shop for insurance is before you purchase a car,
trade autos, add drivers or when your policy is up
for renewal," |
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| Basic Car Insurance Shopping Tips: |
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- Before you purchase a vehicle, factor in the
cost of purchasing the insurance policy with that
vehicle.
- Before you begin calling your local car insurance
companies, familarize yourself with what insurance
coverages you are required to have according Maryland
Laws. (Maryland
Car Insurance Coverages)
- Seek additional information from other various
sources like consumer groups and publications.
- When you are asking for a quote, make sure that
you give the same information. This will allow
for a price comparison between agencies. Most
insurance agents/brokers will ask for the following:
Make, Model, Year, Average Annual Miles, Living
Location, Driving Record & Desired Coverages.
- Ask about a Deductible.
- Ask for Discounts.
- Once you have accepted an insurance companies'
proposal, contact the Maryland Insurance
Administration to verify that the company
is licensed to sell car insurance in Maryland.
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The Factors that will Impact your Car Insurance
Rates. |
When you shop around for an insurance policy, companies
try to determine the likelihood that you will file
a claim. This is typical of the insurance industry,
This is how they make their money. Here are some
factors that most insurance companies use to determine
the risk.
- Possesion of a valid driver's license and or
verifiable driving record.
- Three years driving experience.
- No more than two minor moving violations over
the past three years.
- No more than one at fault accident in the past
3 years.
- Non-comercial use of your vehicle. (Work related)
- No drivers of your vehicle under the age of
21, unless covered under the family policy.
- No cancellations or nonrenewals by a previous
insurance company.
- No lapse in prior car insurance coverage
- No negative reports on your credit history.
- Stable residential address and work history.
- No drivers in your household whose licenses
have been suspended or revoked.
The above are all considerations that insurance
companies' use to measure your risk to file a claim.
The above list is taken from Maryland Insurance
Adminstration's website. |
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What the Insurance Agent/Company many ask you. |
- Driving Record
- Geographic Area
- Gender & Age
- Marital Status
- Prior Insurance Coverage
- Annual Mileage
- Make and Model
- Credit History
Above is just a brief outline, if you would like
more details you can go to MIB's website
or the following page on our website where most of
the above list is explained in detail. (Car
Insurance Cost Factors) |
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Discount that may be Available |
- Good Driving Record
- Safety Devices
- Anti-theft Devices
- Multiple Policies
- Good Student
- Driver Education Cources
- Renewal Discount
- Memberships or Employment Discounts
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| We have a more detailed description of the list
on the following page of our website. (Car
Insurance Discounts) |
Get Car Insurance Quotes