Deciding which companies quote the most affordable auto insurance rates for seniors will take a bit more effort than just getting one or two price quotes.
Each auto insurance company has their own formula for determining rates in each state, so let’s rank the auto insurance companies that tend to have lower prices in Baltimore. It’s important to know that Baltimore auto insurance rates are impacted by many factors that will increase or decrease the cost of coverage. Simply getting older, having a claim, or getting a reckless driving citation can trigger price changes resulting in some companies being more affordable than competitors.
Find the Best Cheap Insurance for Mature Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $920 |
| 2 | Penn National | $1,093 |
| 3 | Liberty Mutual | $1,125 |
| 4 | Erie | $1,161 |
| 5 | State Auto | $1,214 |
| 6 | Amica | $1,334 |
| 7 | Nationwide | $1,393 |
| 8 | Travelers | $1,398 |
| 9 | MetLife | $1,414 |
| 10 | GEICO | $1,472 |
| 11 | California Casualty | $1,544 |
| 12 | Allstate | $1,596 |
| 13 | State Farm | $1,646 |
| 14 | Progressive | $2,149 |
| 15 | Encompass | $2,566 |
| 16 | Victoria | $2,963 |
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USAA may offer some of the most affordable car insurance rates in Baltimore at around $920 annually. Penn National, Liberty Mutual, Erie, and State Auto also are some of the cheapest Baltimore, MD car insurance companies.
As the rates illustrate above, if you currently have coverage with Erie and switched to Penn National, you might see an annual savings of in the neighborhood of $68. Customers with State Auto could save as much as $121 a year, and Amica insureds might reduce rates by $241 a year.
These policy rates are averaged across all types of drivers and the different vehicles they drive and do not take into consideration an exact zip code location for seniors. So the insurer that has the cheapest price for you may not even be in the top 16 companies in the list above. That illustrates why you need to get quotes using your own personal information and vehicle type.
The vehicle model needing coverage is one of the largest considerations that determines if you can find the best insurance for seniors. Vehicles with higher performance, a lack of safety features, or a high likelihood of having liability claims will cost more to insure than safer models. The information below illustrates coverage prices for the cheaper vehicles to insure in Maryland.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $2,073 |
| Honda CR-V EX-L 4WD | $2,122 |
| Honda Accord EX-L 4-Dr Sedan | $2,254 |
| Honda Odyssey LX | $2,279 |
| Toyota Prius | $2,300 |
| Ford Explorer XLT 2WD | $2,329 |
| Dodge Grand Caravan CV | $2,337 |
| Toyota Tacoma 4WD | $2,329 |
| Ford Focus SE 4-Dr Sedan | $2,410 |
| Ford Edge SEL AWD | $2,416 |
| Toyota Camry LE | $2,460 |
| Chevrolet Malibu LS | $2,470 |
| Jeep Grand Cherokee Laredo 2WD | $2,460 |
| Toyota RAV4 Limited 2WD | $2,470 |
| Chevrolet Impala LT | $2,460 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $2,481 |
| Ford F-150 Lariat Crew Cab 4WD | $2,506 |
| Honda Civic LX-S 4-Dr Sedan | $2,542 |
| Hyundai Elantra GLS 4-Dr Sedan | $2,592 |
| Nissan Rogue S AWD | $2,634 |
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Prices based on married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Rate quotes do not factor in garaging location in Baltimore, MD which can change coverage rates considerably.
Looking at the data, you can conclude that makes and models like the Ford Escape, Honda CR-V, Honda Accord, and Honda Odyssey are most likely to be some of the most affordable vehicles to insure for senior citizens.
The example below illustrates how your choice of deductibles can raise or lower insurance premiums when searching for cheap insurance for seniors. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no discounts are factored in.
As shown above, a 50-year-old driver could lower their policy premium by $332 a year by changing from a $100 deductible to a $500 deductible, or save $504 by choosing a $1,000 deductible. Even younger insureds, like the age 20 example, can save up to $1,094 each year by choosing a higher deductible.
If you do decide to increase your deductibles, it is important to have plenty of savings on hand to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Maryland auto insurance companies ranked
Ending up with the right car insurance company is hard considering how many different companies sell coverage in Baltimore. The ranking data below could help you choose which companies to look at when trying find the best insurance for seniors.
The rankings below include companies with a nationwide focus, so companies that have a smaller presence are not included in this list. If you’d like to compare prices and find the cheapest rates for seniors, click this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
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Data Source: Insure.com Best Car Insurance Companies
Why you should compare rates
Baltimore, MD auto insurance rates are influenced by many factors that will increase or decrease the policy premium. Improving your credit score, adding a teenager to your policy, or getting a reckless driving citation can trigger changes in premium that can cause some rates to be affordable when they were higher priced. Also, insurance companies file new Maryland auto insurance rates without warning to adjust for heavy claims or excess profits. Larger than normal claims may cause price increases, while lower claim levels may cause cheaper Baltimore car insurance rates.
The bar chart below shows a variety of companies that have the cheapest car insurance in Baltimore, MD for a 45-year-old female driver with no prior accidents, a clean driving record, and a decent credit rating. If we compare prices based on her personal profile, USAA has the best car insurance rates in Baltimore at $1,636 per year. This is $77 more than the average premium paid by Maryland drivers of $1,559. Liberty Mutual, Erie, Penn National, and State Auto are the rest of the cheapest Baltimore, MD auto insurance companies.
The next chart shows rates after we give the driver from the first example a claim surcharge, a lower credit rating, and an imperfect driving record. Because each company uses their own calculation to determine rates, comparing rates could now result in a new list of companies as shown below.
MetLife now has the lowest price in Baltimore with Nationwide, Travelers, GEICO, and California Casualty also having competitive pricing. This example proves why it is so important to take the time to shop around to find cheap insurance quotes for seniors. Prices are made up of many factors and can increase or decrease at any time, so the most economical option six months ago may now be costing you a lot of money.