One of the more important things that are used to help calculate the amount you pay for auto insurance is where you keep your car. Cities with more crime and/or more people likely pay more, whereas areas that tend to be more rural get the luxury of paying less.
The table below rates the highest-priced places in Maryland for a school permit in which to purchase auto insurance. Baltimore shows up at #1 costing $1,742 on average, which is around $145 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Baltimore | $1,742 |
| 2 | Woodlawn | $1,608 |
| 3 | Dundalk | $1,535 |
| 4 | Towson | $1,512 |
| 5 | Catonsville | $1,475 |
| 6 | Silver Spring | $1,460 |
| 7 | Essex | $1,459 |
| 8 | Aspen Hill | $1,435 |
| 9 | Waldorf | $1,431 |
| 10 | Bowie | $1,390 |
| 11 | Glen Burnie | $1,383 |
| 12 | Wheaton | $1,361 |
| 13 | Rockville | $1,290 |
| 14 | Severn | $1,288 |
| 15 | Gaithersburg | $1,265 |
| 16 | Columbia | $1,263 |
| 17 | North Bethesda | $1,256 |
| 18 | Germantown | $1,249 |
| 19 | Ellicott City | $1,233 |
| 20 | Annapolis | $1,231 |
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Rate quotes are comparative as the garaging address in Baltimore can affect prices greatly.
Establishing which companies have the cheapest car insurance rates for a school permit will require a little more sweat in order to find the best policy. Each insurer uses a different method to establish rates, so we will examine the car insurance companies with the most affordable rates in Baltimore, MD.
Cheapest Insurance Rates for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $930 |
| 2 | Penn National | $1,104 |
| 3 | Liberty Mutual | $1,114 |
| 4 | Erie | $1,127 |
| 5 | State Auto | $1,226 |
| 6 | Amica | $1,347 |
| 7 | Nationwide | $1,393 |
| 8 | Travelers | $1,398 |
| 9 | MetLife | $1,428 |
| 10 | GEICO | $1,442 |
| 11 | California Casualty | $1,484 |
| 12 | Allstate | $1,645 |
| 13 | State Farm | $1,680 |
| 14 | Progressive | $2,086 |
| 15 | Encompass | $2,490 |
| 16 | Victoria | $2,933 |
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USAA offers some of the lowest car insurance rates in Baltimore at around $930 annually. Penn National, Liberty Mutual, Erie, and State Auto also are some of the best Baltimore, MD car insurance companies.
As the example above demonstrates, if you currently have coverage with Erie and switched to USAA, you might realize a yearly savings of roughly $197. Insureds with State Auto may save as much as $296 a year, and Amica policyholders might reduce prices by as much as $417 a year.
These rates are averaged across all drivers and vehicles and and are not figured with an exact vehicle garaging location for a school permit. So the insurer that is best for you may not even be in the top 16 companies in the list above. That emphasizes why you need to get quotes using your own personalized driver profile and vehicle information.
The vehicle model you are trying to insure is probably the most important factor when trying to find affordable coverage for a school permit. Vehicles with lots of horsepower, a lack of modern safety features, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models. The data below ranks auto insurance premiums for a selection of the most affordable vehicles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $9,060 |
| Ford Escape XLT 4WD | $9,148 |
| Honda CR-V EX 4WD | $9,156 |
| Toyota Prius | $9,810 |
| Honda Odyssey LX | $10,084 |
| Ford Edge SE 2WD | $10,090 |
| Ford Explorer Eddie Bauer 2WD | $10,172 |
| Ford F-150 XLT Super Cab 2WD | $10,182 |
| Dodge Grand Caravan CV | $10,172 |
| Ford Focus S 4-Dr Sedan | $10,656 |
| Chevrolet Impala LS | $10,661 |
| Chevrolet Malibu LS | $10,745 |
| Toyota RAV4 Limited 4WD | $10,755 |
| Honda Civic VP 4-Dr Sedan | $11,228 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $11,317 |
| Hyundai Elantra SE 4-Dr Sedan | $11,325 |
| Toyota Tacoma X-Runner 2WD | $11,317 |
| Chevrolet Equinox LTZ AWD | $11,406 |
| Volkswagen Jetta SEL 4-Dr Sedan | $11,414 |
| Jeep Grand Cherokee Limited 2WD | $11,406 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $11,416 |
| Ford Fusion SEL 4-Dr Sedan | $11,406 |
| GMC Sierra SL Crew Cab 4WD | $11,411 |
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Prices based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can increase or decrease premiums significantly.
Based upon these rates, you can expect models like the Honda Accord, Ford Escape, Honda CR-V, Toyota Prius, and Honda Odyssey are going to be the less-costly vehicles to insure for a learners permit. The price for an auto insurance policy will trend higher just because there is more risk for a school permit, but generally speaking those particular vehicles will tend to have the lowest insurance prices compared to other types of vehicles.
Does it make sense to buy full coverage?
Saving on car insurance is important to most vehicle owners, and an effective way to lower the cost of insurance for a school permit is to only buy liability coverage. The illustration below visualizes the comparison of auto insurance costs with liability coverage only compared to full coverage. The data is based on no driving violations, no at-fault accidents, $100 deductibles, single marital status, and no additional discounts are factored in.
If the expense is averaged for all age categories, full coverage on your policy costs $3,168 per year more than insuring for liability only. That amount may make you wonder when is the right time to remove full coverage. There isn’t a written rule to drop full coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $11,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $10,000 after paying the physical damage deductible. If it’s costing you more than $1,000 annually to have full coverage, then it may be the right time to buy liability only.
Types of discounts on Baltimore auto insurance
Auto insurance companies that sell policies for a school permit may have discounts that could potentially reduce rates by 35% or more if you meet eligibility requirements. A few popular companies and their possible discounts can be read below.
- The Hartford may offer discounts for anti-theft, driver training, defensive driver, vehicle fuel type, and bundle.
- American Family policyholders can earn discounts including early bird, Steer into Savings, air bags, good driver, defensive driver, TimeAway discount, and accident-free.
- Progressive may include discounts for multi-vehicle, online quote discount, homeowner, good student, and online signing.
- Travelers offers discounts for multi-policy, save driver, early quote, hybrid/electric vehicle, driver training, good student, and continuous insurance.
- Farmers Insurance may have discounts that include early shopping, mature driver, good student, pay in full, multi-car, and business and professional.
- USAA offers premium reductions for multi-policy, multi-vehicle, good student, military installation, loyalty savings, and annual mileage.
- Liberty Mutual includes discounts for good student, multi-car, teen driver discount, safety features, and preferred payment discount.
The information below shows the comparison of yearly insurance costs with and without discounts applied to the rates. The premiums are based on a female driver, no claims or violations, Maryland state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with vehicle safety, good student, paperless filing, passive restraint, paid-in-full, and anti-theft discounts applied. When drivers qualify for the discounts, theamount saved on car insurance for a school permit is 28% or $638.
Who has the cheapest Baltimore car insurance?
Maryland car insurance rates are determined by lots of factors that control your annual premium. Getting older, adding a teenager to your policy, or getting a few speeding tickets can trigger rate changes resulting in some companies being more affordable than before.
Also, insurers change the rates they charge in Maryland without warning in order to remain profitable. Larger than normal claims can cause higher prices, while long-term profits can result in lower-priced Baltimore car insurance rates.
To illustrate this example, the data below demonstrates which company has the cheapest car insurance in Baltimore, MD for a 40-year-old male driver with no prior claims, no tickets, and a good credit history. If we compare prices based on his current situation, USAA may have the most affordable car insurance rates in Baltimore at $1,686 each year. This is $127 more than the average policy premium paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto are the rest of the best Baltimore, MD auto insurance companies.
The next chart shows rates after we give the driver in the first example some claims, a lower credit rating, and a speeding ticket. Since each auto insurance company has their own process for filing rates in each state, getting updated rate quotes could result in a substantially altered list of cheap Baltimore auto insurance companies as shown below.
MetLife now has the best insurance rate in Baltimore with Nationwide, GEICO, Travelers, and California Casualty now being in the top five. This example shows why it is critical to compare lots of rates when trying to get the most affordable car insurance rates for a school permit.
Rates can be altered by many different factors and can decrease or increase without notice, so the most economical company the last time you shopped your coverage around may now be wasting a lot of money.