Unbelievable but true, most Maryland insurance customers have purchased from the same company for a minimum of four years, and nearly half have never even compared quotes to find lower-cost rates. With the average insurance premium being $1,847, U.S. drivers could save themselves nearly 47% a year just by comparing rates, but most tend to underestimate the big savings they would realize if they moved their coverage to a different company.
Really, the only way to find affordable quotes for BMW X1 insurance in Baltimore is to do a yearly price comparison from different companies that insure vehicles in Maryland. Price quotes can be compared by completing these steps.
Step 1: Try to comprehend auto insurance and the measures you can control to keep rates low. Many factors that drive up the price like accidents, traffic tickets, and an imperfect credit history can be rectified by making minor driving habit or lifestyle changes.
Step 2: Request rate estimates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from one company like GEICO or Allstate, while independent agents can provide prices for many different companies. View prices
Step 3: Compare the new rate quotes to the price on your current policy to see if a cheaper price is available. If you find better rates, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Provide proper notification to your current company to cancel your current coverage. Submit a down payment along with a signed application to the newly selected company. Immediately upon receiving it, place your new certificate verifying proof of insurance with your registration paperwork.
The key thing to remember is to use the same level of coverage on each quote and and to get prices from as many companies as you can. This helps ensure a fair rate comparison and a complete rate analysis.
It’s important to know that quoting more helps increase your odds of locating the best rates.
The companies shown below offer comparison quotes in Maryland. To locate cheap car insurance in MD, we recommend you click on several of them in order to get a fair rate comparison.
Why do I need car insurance?
Despite the fact that insurance is not cheap in Baltimore, paying for insurance may be mandatory for several reasons.
First, just about all states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability insurance in order to be legal. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
Second, if you have a loan on your car, it’s most likely the lender will stipulate that you have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your BMW at a more expensive rate and require you to reimburse them much more than you were paying before.
Third, insurance protects both your BMW X1 and your personal assets. It will also provide coverage for most medical and hospital costs for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance will also pay to defend you in the event you are sued. If your car is damaged in a storm or accident, your policy will cover the repair costs.
The benefits of buying insurance greatly outweigh the cost, especially if you ever need it. According to a recent study, the average American driver overpays as much as $700 annually so shop around each time the policy renews to ensure rates are inline.
You may qualify for discounts for BMW X1 insurance in Baltimore
Companies that sell car insurance don’t necessarily list all available discounts in a way that’s easy to find, so we break down a few of the more well known and the harder-to-find discounts that you can inquire about if you buy Baltimore car insurance online.
- Bundled Policy Discount – If you combine your auto and homeowners policies with the same insurance company you could save up to 20% and get you low cost BMW X1 insurance.
- Paperless Signup – A few auto insurance companies may give you up to $50 for buying your policy online.
- First Accident Forgiveness – Not necessarily a discount, but certain companies will allow you to have one accident without the usual rate increase if your claims history is clear for a particular time prior to the accident.
- Data Collection Discounts – Insureds that choose to allow their company to monitor vehicle usage by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm might see lower rates as long as they are good drivers.
- Active Service Discounts – Having a deployed family member could qualify you for better prices.
- Low Mileage Discounts – Maintaining low annual mileage may allow you to get discounted rates on garaged vehicles.
Discounts lower rates, but some credits don’t apply to the entire policy premium. A few only apply to the price of certain insurance coverages like collision or personal injury protection. If you do the math and it seems like having all the discounts means you get insurance for free, it just doesn’t work that way.
Larger auto insurance companies and some of the discounts are included below.
- GEICO offers premium reductions for defensive driver, federal employee, anti-lock brakes, membership and employees, multi-policy, and seat belt use.
- USAA offers discounts for good student, new vehicle, defensive driver, multi-policy, driver training, loyalty savings, and safe driver.
- Progressive has savings for multi-policy, online signing, multi-vehicle, good student, and continuous coverage.
- American Family includes discounts for mySafetyValet, good driver, Steer into Savings, air bags, early bird, multi-vehicle, and TimeAway discount.
- Esurance has discounts for DriveSense, paid-in-full, Switch & Save, good driver, renters, homeowner, and anti-theft.
- Farmers Insurance offers discounts including switch companies, youthful driver, business and professional, mature driver, distant student, early shopping, and homeowner.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, anti-theft, student away at school, good driver, defensive driving training, and multiple autos.
If you need lower rates, check with every company which discounts you qualify for. Some discounts may not apply to policyholders in Baltimore. To find insurers that offer discounts in Baltimore, click here to view.
Compare rate quotes but buy from a local Baltimore insurance agency
Certain consumers just prefer to sit down and talk to an agent and that is OK! One of the benefits of getting free rate quotes online is you can get the lowest rates but also keep your business local.
To make it easy to find an agent, after completing this form (opens in new window), your insurance coverage information is transmitted to agents in your area who will gladly provide quotes to get your business. It simplifies rate comparisons since you won’t have to drive around because prices are sent to the email address you provide. You can find the lowest rates and work with a local agent. If for some reason you want to quote rates for a specific company, just navigate to their website to submit a rate quote request.
Deciding on a company requires more thought than just a cheap price. A good agent in Baltimore will have answers to these questions.
- What companies can they write with?
- Are they giving you every discount you deserve?
- Will their companies depreciate repairs to your car based on the mileage?
- Are they actively involved in the community?
- Do they see any coverage gaps in your plan?
- Can they help ensure a fair claim settlement?
Two types of auto insurance agents
If you would like to find a reliable agent, it can be helpful to understand the different types of agents and how they function. Agents are considered either exclusive agents or independent agents.
Exclusive Insurance Agencies
Exclusive insurance agents write business for a single company and some examples include State Farm, Allstate and AAA. Exclusive agents are unable to give you multiple price quotes so you might not find the best rates. Exclusive agents are well schooled on what they offer which helps them sell on service rather than price. Some insured continue to choose to use a exclusive agent partially due to the prominence of the brand and solid financial strength.
Shown below are exclusive agencies in Baltimore who may provide you with rate quotes.
- Eve Hamper – State Farm Insurance Agent
1118 Light St A – Baltimore, MD 21230 – (410) 528-8900 – View Map - Scott Garvey – State Farm Insurance Agent
211 Key Hwy – Baltimore, MD 21230 – (667) 309-3792 – View Map - Allstate Insurance: Jim Craig
2829 O’Donnell St – Baltimore, MD 21224 – (410) 522-6100 – View Map
Independent Agencies or Brokers
Agents that elect to be independent can sell policies from many different companies so they can insure your vehicles amongst many companies and help determine which has the cheapest rates. If prices rise, your policy is moved internally and you don’t have to switch agencies.
If you are comparing auto insurance prices, it’s recommended you include rate quotes from several independent insurance agents so that you have a good selection of quotes to compare. Many write coverage with small regional insurance companies which could offer lower prices.
The following is a short list of independent insurance agencies in Baltimore that can give you price quotes.
- Nationwide Insurance: Bruce Cohee Agency Inc
502 Baltimore Ave – Towson, MD 21204 – (410) 823-8777 – View Map - Baltimore Insurance Network
11 E Lexington St – Baltimore, MD 21202 – (443) 869-6424 – View Map - Kirby Insurance Agency, Inc.
14 W Saratoga St #100 – Baltimore, MD 21201 – (410) 837-2320 – View Map
Tailor your car insurance coverage to you
When it comes to coverage, there is no one size fits all plan. Everyone’s needs are different.
For example, these questions can aid in determining whether you would benefit from professional advice.
- Should I carry comprehensive and collision coverage?
- Can I drive in Mexico and have coverage?
- How high should deductibles be on a BMW X1?
- Am I covered by my spouse’s policy after a separation?
- What is glass protection for?
- Does medical payments coverage apply to all occupants?
- Do I really need UM/UIM coverage?
- How much coverage applies to personal belongings?
- Should I waive the damage coverage when renting a car?
If you’re not sure about those questions but you know they apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form.
Parts of your insurance policy
Having a good grasp of your policy helps when choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.
Liability
Liability insurance will cover damages or injuries you inflict on people or other property that is your fault. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 30/60/15 that means you have $30,000 in coverage for each person’s injuries, $60,000 for the entire accident, and property damage coverage for $15,000.
Liability can pay for things such as legal defense fees, bail bonds, attorney fees, medical services and pain and suffering. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as large an amount as possible. Maryland requires minimum liability limits of 30/60/15 but it’s recommended drivers buy more liability than the minimum.
The chart below demonstrates why buying low liability limits may not be high enough to adequately cover claims.
Collision protection
Collision coverage covers damage to your X1 resulting from colliding with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things like scraping a guard rail, crashing into a building, sideswiping another vehicle and colliding with a tree. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Another option is to bump up the deductible on your X1 to bring the cost down.
Protection from uninsured/underinsured drivers
Uninsured or Underinsured Motorist coverage gives you protection when other motorists do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your BMW X1.
Due to the fact that many Maryland drivers only purchase the least amount of liability that is required (30/60/15), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.
Comprehensive (Other than Collision)
This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims like falling objects, fire damage, hitting a deer, theft and vandalism. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Medical expense insurance
Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for pain medications, hospital visits, X-ray expenses and funeral costs. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states and may carry a deductible
Affordable auto insurance premiums are out there
Consumers who switch companies do it for a number of reasons such as high rates after DUI convictions, lack of trust in their agent, unfair underwriting practices and even not issuing a premium refund. It doesn’t matter why you want to switch finding a new company is less work than it seems.
Some insurance companies may not provide rates over the internet and most of the time these small, regional companies sell through local independent agents. Affordable BMW X1 insurance in Baltimore can be found from both online companies as well as from insurance agents, so you need to compare both to have the best selection.
In this article, we covered some good ideas how you can compare BMW X1 insurance prices in Baltimore. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. You may even find the biggest savings come from a smaller regional carrier.
Additional information is located on the following sites:
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- What Insurance is Cheapest for Young Drivers in Baltimore? (FAQ)
- Who Has Cheap Car Insurance Quotes for a Honda CR-V in Baltimore? (FAQ)
- Who Has Affordable Car Insurance Quotes for 4×4 Vehicles in Baltimore? (FAQ)
- How to Avoid Staged Accidents (State Farm)
- Distracted Driving Statistics (Insurance Information Institute)