Average car insurance cost in Frederick, MD

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The average car insurance cost in Frederick, Maryland is $1,516 per year, according to Insure.com data analysis. Also, the car insurance rates in Frederick is $230 less than the average rates in Maryland and $379 less than the national average.

Most insurance providers consider factors such as location, city demographics, population density, and average resident age, accident rates, theft and vandalism rates while determining your car insurance premium. This may lead to either lower or higher costs compared to other regions.

This article provides details on the most and least expensive car insurance companies in Frederick, the average car insurance rates categorized by age and gender, and the cost of car insurance in Frederick based on coverage limits. Whether you’re a new driver or an experienced driver, this article will help you find the most cost-effective auto insurance in Frederick. Read on to learn more.

Cheap car insurance companies in Frederick

Geico provides the best value for car insurance in Frederick with coverage limits of 100/300/100, costing $1,059 annually.

A close second is Nationwide, which offers car insurance at $1,191 per year.

Read about the best car insurance companies.

Average car insurance cost in Frederick by coverage limits

In Frederick, the average car insurance rates the coverage levels are as follows:

• State minimum coverage: $623 per year (limits are 25/50/25)
• Liability only coverage: $643 per year (limits are 50/100/50)
• Full coverage: $1,516 per year (limits are 100/300/100)
• Non-owners coverage: $398 per year

In most states, drivers are required to have state minimum coverage to drive legally, although these requirements vary by state. However, it’s important to note that state minimum coverage does not provide coverage for any vehicles listed on your policy in the event of an at-fault accident.

To prevent compromising on coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage if you frequently borrow or rent a car but do not own one.

Average car insurance rates by gender in Frederick

In Frederick, Maryland, the average annual car insurance premium for female drivers is $1,513 per year.

While the average annual cost for male drivers is $1,519 per year, which is $6 more than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Frederick

In Frederick, car insurance rates are the highest for teens, at $4,691 per year or $391 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. There are driving laws for teens to help them drive better. Also, teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.

Car insurance rates are bound to decrease as teens grow older and earn a good driving record. Young adults pay $2,606 per year for their car insurance which is $2,085 less than what the teens pay for their insurance policy.

The car insurance rates in Frederick for adult and senior drivers are $1,525 and $1,594 per year respectively.

The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Frederick

Examining car insurance rate trends in Frederick, Maryland, we observe a upward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced increase overall, with an increase of 12% or $166.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in Frederick, are lower than the average insurance cost in Maryland. Shopping around and taking advantage of available discounts, drivers in Frederick can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.