Average car insurance cost in Frederick, MD

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According to data from Insure.com, the average annual cost of car insurance in Frederick, Maryland is $1,516. The auto insurance rates in Frederick is $230 less than the state average and $379 less than the national average.

Car insurance premiums vary significantly based on where they are filed. Factors such as city demographics, population density and average resident age, accident rates, theft, and vandalism rates will influence the amount of premiums you pay.

This article talks in detail about the most affordable car insurance companies in Frederick, the average car insurance rates by age and gender, and how much car insurance cost in Frederick depending on coverage limits. Whether you’re a new driver or an experienced one, this article will help you to find the most affordable car insurance in Frederick. Keep reading to learn more.

Cheap car insurance companies in Frederick

Geico offers the cheapest car insurance in Frederick, at an average of $1,059 per year with full coverage limits of 100/300/100.

The second cheapest company in Frederick is Nationwide, offering car insurance rates at $1,191 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Frederick before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Frederick, Maryland:

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

The average car insurance per year for female drivers in Frederick, Maryland, is $1,513.

Whereas the yearly average car insurance rate for male drivers is $1,519, which is $6 more than what female drivers pay.

According to the Insurance Information Institute, women are considered to be safer drivers than men, and statistics have proved this. They often enjoy lower auto insurance premiums due to their lower incidence of severe accidents compared to 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 the trends in car insurance rates in Frederick, Maryland, there was an upward trend from 2022 to 2023. Between 2022 and 2023, rates increase overall by 12% or $166.

The table below illustrates the trend over the three years:

Conclusion

Car insurance rates in Frederick are lower than the average rates in Maryland. Drivers in Frederick can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

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.