Best Ways to Save on Baltimore Chrysler 300 Insurance

It’s a known fact that auto insurance companies don’t want policyholders to shop around. Insureds who shop around for cheaper rates are very likely to switch car insurance companies because they have a good chance of finding a policy with better rates. A study showed that consumers who compared rate quotes regularly saved on average $3,450 over four years compared to policyholders who never shopped around for lower prices.

If finding the most affordable car insurance is the reason you’re here, then learning a little about how to find and compare insurance can make shopping around easier.

If your goal is the lowest price, then the best way to get low-cost auto insurance rates is to start doing an annual price comparison from companies in Baltimore.

1. Take a little time to learn about how companies set rates and the things you can change to keep rates low. Many rating factors that cause high rates such as tickets, at-fault accidents, and a low credit rating can be improved by making minor driving habit or lifestyle changes. This article gives additional tips to get better rates and find missing discounts.
2. Compare price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like GEICO or State Farm, while agents who are independent can provide prices from many different companies.
3. Compare the new rate quotes to your existing rates to see if cheaper 300 coverage is available in Baltimore. If you find a lower rate quote and make a switch, make sure coverage does not lapse between policies.
4. Notify your agent or company of your intention to cancel your existing policy and submit any necessary down payment along with the completed application to the newly selected company. Be sure to store the proof of insurance certificate in a readily accessible location in your vehicle.

The most important part of shopping around is to try to use the same deductibles and limits on each quote and and to get rates from as many auto insurance providers as possible. Doing this provides the most accurate price comparison and a better comparison of the market.

When looking for the cheapest Chrysler 300 rate quotes, there are a couple ways to compare quotes from all the different companies. The simplest method to compare Chrysler 300 insurance prices consists of obtaining rate quotes online.

Comparing free quotes online is easy and it, makes it obsolete to drive around to different Baltimore agent offices. The ability to buy insurance online reduces the need to sit down with an agent unless you’re the type of person who wants the trained advice only provided by licensed Baltimore agents. Although, it is possible get prices online but still have the advice of a local agent. When price shopping your coverage, comparing all the rates in your area helps locate the best rates.

The providers in the list below are our best choices to provide price quotes in Maryland. To buy cheaper auto insurance in MD, it’s highly recommended you get price quotes from several of them to get the best price comparison.

These discounts can lower Chrysler 300 insurance rates

Companies offering auto insurance don’t always publicize every discount they offer in an easy-to-find place, so the following is a list of a few of the more well known and also the lesser-known credits available to bring down your rates. If you are not receiving all the discounts you qualify for, you are throwing money away.

• Theft Prevention System – Cars, trucks, and SUVs equipped with anti-theft or alarm systems help deter theft and will qualify for a discount on a Baltimore car insurance quote.
• Own a Home – Simply owning a home may earn you a small savings because of the fact that having a home is proof of financial responsibility.
• Paperless Signup – Certain companies will give a small break for buying a policy and signing up on the web.
• Buy New and Save – Putting insurance coverage on a new 300 can be considerably cheaper since new vehicles are generally safer.
• Driver Training Discounts – Passing a class that teaches defensive driver techniques can save you 5% or more and make you a better driver.
• Auto/Home Discount – If you insure your home and vehicles and insure them both with the same insurance company they may give you a discount of approximately 10% to 15%.
• Federal Government Employee – Federal government employees can earn a discount up to 10% but check with your company.
• Multi-car Discount – Buying insurance for several vehicles with the same insurance company may reduce the rate for each vehicle.
• Claim Free – Drivers who don’t have accidents can save substantially compared to insureds who have frequent claims or accidents.
• Auto/Life Discount – Some insurance carriers give a discount if you purchase some life insurance in addition to your auto policy.

A quick disclaimer, some of the credits will not apply to the entire policy premium. Some only reduce individual premiums such as collision or personal injury protection. So despite the fact that it appears you would end up receiving a 100% discount, you won’t be that lucky.

The information below illustrates the comparison of Chrysler 300 car insurance costs with and without discounts applied. The rates are based on a female driver, no claims or driving violations, Maryland state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, multi-policy, marriage, multi-car, and safe-driver discounts applied.

A few companies who may offer some of the above discounts include:

• Farm Bureau
• State Farm
• Progressive
• Allstate
• Nationwide
• MetLife

When getting free Baltimore car insurance quotes, it’s a good idea to every prospective company how you can save money. Some of the discounts discussed earlier may not be available in every state. To locate providers with discount rates in Maryland, click this link.

Insurance coverage analysis

The rate information shown below covers detailed analysis of policy rates for Chrysler 300 models. Learning more about how premiums are calculated can help you make smart choices when comparing insurance rates.

Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Price estimates do not factor in specific garaging location which can affect prices substantially.

Rate comparison for different deductibles

One of the more difficult decisions when buying auto insurance is how high should the physical damage coverage deductibles be. The following tables can help you understand the rate differences between high and low coverage deductibles. The first data set uses a $100 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Table data does not factor in specific garaging location which can change coverage rates significantly.

Based on the data above, we can derive that using a $100 deductible will cost you about $33 more each month or $396 each year than selecting the higher $500 deductible. Because you would pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you have at least 12 months between claim filings, you would more than likely save some money by selecting a higher deductible.

Difference between full coverage and liability only rates

The illustration below illustrates the comparison of Chrysler 300 auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Maryland. The prices are based on no accidents, no driving violations, $250 deductibles, drivers are single, and no discounts are applied to the premium.

Should you pay for full coverage or liability only?

There is no exact rule of when to phase out full coverage, but there is a general guideline. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.

For example, let’s say your Chrysler 300 replacement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $8,000 after you pay the deductible. If you are paying more than $800 a year for full coverage, then you might want to think about dropping full coverage.

There are some scenarios where eliminating full coverage is not a good idea. If you haven’t satisfied your loan, you have to carry full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

Smart Buyers Can Cut Insurance Costs

Part of the car insurance buying process is learning the factors that play a part in calculating your car insurance rates. If you understand what influences your rates, this allows you to make good choices that may result in better car insurance rates. Many things are used when you get a price on insurance. Some are pretty understandable like your driving record, although some other factors are less obvious like your continuous coverage or your financial responsibility.

Buy a safe car and pay less – Vehicles with high crash test scores tend to have better insurance rates. Vehicles engineered for safety result in less severe injuries and lower rates of occupant injuries translates directly to fewer claims and cheaper rates on your policy. If the Chrysler 300 earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.

Where you call home is a factor – Having an address in smaller towns and rural areas of the country can save you money when buying car insurance. Drivers in populated areas have much more traffic and more severe claims. Less people living in that area translates into fewer accident claims in addition to lower liability claims.

More policies can equal more savings – Many insurance companies apply discounts for people who buy several policies from them in the form of a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. If you currently are using one company, you still need to compare other company rates to confirm you are receiving the best rates possible.There is a good possibility that you can find lower rates by insuring with multiple companies.

Better premiums for being claim-free – If you tend to file frequent claims, you should expect either a policy non-renewal or much higher rates. Auto insurance companies in Maryland generally give lower rates to drivers who do not file claims often. Auto insurance is designed for claims that pose a financial burden.

Older drivers save more – Teenage drivers in Maryland are statistically proven to be easily distracted when at the wheel of a vehicle therefore car insurance rates are much higher. Older insureds have been proven to be more responsible, cause fewer claims and accidents, and are safer drivers.

The chart below uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

Do you save by driving less? – The higher the mileage driven in a year’s time the more you’ll pay to insure your vehicle. A lot of companies charge to insure your cars based upon how the vehicle is primarily used. Autos that have low annual miles cost less to insure than vehicles that are driven to work every day. Having the wrong rating on your 300 may be costing you. It’s a good idea to make sure your car insurance declarations sheet is showing the proper vehicle usage, because improper ratings can cost you money.

Bad credit hurts insurance prices – Having a bad credit history can be an important factor in determining premium rates. Consumers who have very high credit ratings tend to be more responsible than those with lower credit ratings. Therefore, if your credit leaves room for improvement, you could potentially save money when insuring your Chrysler 300 if you improve your credit rating.

Chrysler 300 claim statistics – Insurers use statistical claims data to calculate a rate that will offset any claims. Vehicles that the data shows to have higher losses will cost more to insure. The table below outlines the actual insurance loss data for Chrysler 300 vehicles.

For each coverage category, the claim amount for all vehicles combined as an average is set at 100. Values that are under 100 suggest a better than average loss history, while numbers above 100 point to more claims or tendency to have higher losses.

Local neighborhood Baltimore car insurance agents

A small number of people still like to sit down with an agent and that can be a smart move The biggest benefit of comparing insurance prices online is the fact that drivers can get cheaper rates and still have an agent to talk to. Buying insurance from local agents is important especially in Baltimore.

For easy comparison, once you complete this short form, your coverage information is instantly submitted to companies in Baltimore that can give you free Baltimore car insurance quotes for your insurance coverage. You never need to find an agent on your own since rate quotes are delivered immediately to your email address. You can most likely find cheaper rates AND a local agent. If you want to compare rates from one company in particular, don’t hesitate to navigate to their website to submit a rate quote request.

If you are wanting to find a reputable agency, it’s important to understand the different types of agents and how they are distinctly different. Insurance agencies are either independent or exclusive depending on the company they work for.

Independent Insurance Agents (or Brokers)

Independent agencies do not work for one specific company and that allows them to write policies through many different insurance companies and help determine which has the cheapest rates. If they find a cheaper price, the agent simply finds a different carrier and you won’t have to switch agencies. When comparing rates, you definitely need to include several independent agencies to have the best price comparison.

Below is a partial list of independent insurance agents in Baltimore who may be able to give you price quote information.

View more agents

Exclusive Agents

Agents in the exclusive channel work for only one company and examples are Allstate, Farmers Insurance or State Farm. They generally cannot compare rates from other companies so if the price isn’t competitive there isn’t much they can do. They receive a lot of sales training on their company’s products and that enables them to sell even at higher rates.

Shown below are exclusive agents in Baltimore who can help you get rate quotes.

View more agents

Selecting an insurance agent should depend on more than just the premium amount. Get answers to these questions too.

• Are they properly licensed to sell insurance in Maryland?
• Are there any extra charges for paying monthly?
• Will they take your side in the event of a claim?
• How are claims handled?
• Do they see any coverage gaps in your plan?

Best auto insurance company in Maryland

Selecting a high-quality insurance provider is difficult considering how many companies there are to choose from in Maryland. The company information shown below may help you select which auto insurance companies you want to consider when shopping around.

Top 10 Baltimore Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 91%
2. AAA Insurance – 90%
3. Esurance – 90%
4. Mercury Insurance – 89%
5. Nationwide – 89%
6. Travelers – 88%
7. Progressive – 88%
8. Safeco Insurance – 88%
9. State Farm – 88%
10. Allstate – 88%

Top 10 Baltimore Car Insurance Companies Ranked by Customer Service

1. USAA
2. Travelers
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Safeco Insurance
7. Progressive
8. State Farm
9. The Hartford
10. The General

In the end, you can save money

As you restructure your insurance plan, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed collision coverage only to regret that they should have had better coverage. The goal is to find the BEST coverage at the best price, but don’t skip important coverages to save money.

Some car insurance companies may not provide the ability to get quotes online and many times these small, regional companies prefer to sell through local independent agents. The cheapest Chrysler 300 insurance in Baltimore is available from both online companies as well as from insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money.

Additional information is located at these links:

• Vehicle Safety Ratings (iihs.org)
• Who Has the Cheapest Car Insurance Rates for Low Credit Scores in Baltimore? (FAQ)
• Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
• Safe Vehicles for Teens (iihs.org)