The words “bargain” and “auto insurance” really don’t belong together, especially when trying to find the lowest insurance prices for good drivers. To help control this cost, let’s get started by showing you some situations that significantly impact car insurance prices, and see if we can help you take a little off your next policy.
The type of vehicle you are trying to insure is probably the most important factor when comparison shopping for low-priced auto insurance for good drivers. Vehicles with high performance engines, poor safety features, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models. The next list estimates auto insurance prices for a handful of the most cost-effective vehicles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $2,472 |
| Honda Accord EX-L 4-Dr Sedan | $2,626 |
| Honda CR-V EX 2WD | $2,647 |
| Hyundai Elantra GLS Touring Station Wagon | $2,653 |
| Ford Explorer Eddie Bauer 2WD | $2,710 |
| Ford Edge SEL 2WD | $2,812 |
| Toyota Prius | $2,945 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $2,949 |
| Honda Odyssey LX | $3,008 |
| Toyota Tacoma 2WD | $3,071 |
| Ford Fusion SEL 4-Dr Sedan | $3,075 |
| Chevrolet Silverado LTZ Extended Cab 4WD | $3,080 |
| Volkswagen Jetta S 4-Dr Sedan | $3,134 |
| Dodge Grand Caravan Hero | $3,141 |
| Chevrolet Equinox LS 2WD | $3,134 |
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Prices do not factor in Baltimore, MD location which can raise or lower price quotes significantly.
Looking at the numbers, we can conclude that makes and models like the Ford Escape, Honda Accord, Honda CR-V, Hyundai Elantra, and Ford Explorer will be the most budget-friendly vehicles to insure for safe drivers.
Trying to buy low-priced car insurance is not always easy, and deciding which insurers offer the best auto insurance rates for good drivers involves a little more work.
Every car insurance company has their own guidelines for determining rates in each state, so let’s take a look at the lowest cost auto insurance companies in Baltimore, MD. It’s important to understand that Baltimore auto insurance rates are impacted by many factors that will increase or decrease the price you pay for coverage. This price variability is why consumers need to shop around with many companies to find affordable insurance rates for good drivers. Insurance prices can be determined by many different factors and can change substantially, so the cheapest option a year ago may now not even be in the top five.
Best Car Insurance Prices for Good Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $930 |
| 2 | Liberty Mutual | $1,081 |
| 3 | Penn National | $1,104 |
| 4 | Erie | $1,127 |
| 5 | State Auto | $1,178 |
| 6 | Amica | $1,334 |
| 7 | Nationwide | $1,421 |
| 8 | Travelers | $1,426 |
| 9 | GEICO | $1,428 |
| 10 | MetLife | $1,428 |
| 11 | California Casualty | $1,529 |
| 12 | Allstate | $1,596 |
| 13 | State Farm | $1,646 |
| 14 | Progressive | $2,065 |
| 15 | Encompass | $2,516 |
| 16 | Victoria | $2,963 |
| Compare Rates Now Go | ||
USAA may offer some of the best car insurance rates in Baltimore at around $930 annually. Liberty Mutual, Penn National, Erie, and State Auto also rank well as some of the lowest-priced Baltimore, MD car insurance companies.
As illustrated above, if you buy coverage from Penn National and switched to USAA, you may see an annual savings of approximately $174. Policyholders with Erie may save as much as $197 a year, and State Auto insureds might lower prices by up to $248 a year.
Be aware that those rates are averages for all types of insureds and vehicles and do not take into consideration a vehicle location for good drivers. So the auto insurance company that can offer the best rates for your situation may not even be in the list above. That points out the importance of why you need to get car insurance quotes using your own individual information.
Get discounts on Baltimore auto insurance rates
Auto insurance companies that provide policies for good drivers may have premium discounts that can reduce rates by as much as 25% or more if you can meet the requirements. The best auto insurance companies and their offered discounts are included below.
- GEICO offers premium reductions for emergency military deployment, defensive driver, driver training, air bags, membership and employees, and five-year accident-free.
- USAA discounts include defensive driver, loyalty savings, driver training, safe driver, and annual mileage.
- Progressive may offer discounts for multi-policy, good student, homeowner, online signing, and continuous coverage.
- American Family may have discounts that include defensive driver, early bird, air bags, mySafetyValet, and TimeAway discount.
- Esurance includes discounts for anti-lock brakes, claim free, DriveSense, good student, and Switch & Save.
- Farmers Insurance has discounts for pay in full, electronic funds transfer, bundle discounts, alternative fuel, and multi-car.
- State Farm offers discounts including good driver, defensive driving training, driver’s education, Drive Safe & Save, Steer Clear safe driver discount, student away at school, and passive restraint.
The diagram below shows the comparison of car insurance costs with and without policy discounts. The prices are based on a female driver, no tickets, no at-fault accidents, Maryland state minimum liability limits, full coverage, 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 multiple policy, passive restraint, homeowner, anti-theft, defensive driving course, and claim-free discounts applied. When these discounts are applied, theaverage yearly reduction on auto insurance for good drivers is 28% or $678.
The chart below shows how choosing a deductible can affect annual premium costs when quoting cheap insurance for good drivers. Data assumes a married female driver, comp and collision included, and no discounts are applied.
In the chart above, a 40-year-old driver could lower their policy premium by $278 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $420 by selecting a $1,000 deductible. Even younger insureds, like the age 20 example, could shave up to $690 each year just by using higher deductibles. When choosing a higher deductible, it is important to have additional funds squirreled away to allow you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Why you should be comparing rates
Baltimore, MD auto insurance rates are impacted by many things that may substantially change the cost of your policy. Improving your credit score, buying a new vehicle, or getting a ticket for careless driving can cause premium changes that can make some companies cheaper than competitors.
In addition, car insurance companies change the rates they charge in Maryland every year in order to offset underwriting gains or losses. An extended period of higher than normal claims can result in rate hikes, while better underwriting can cause cheaper Baltimore car insurance rates.
As an example, the bar chart below compares the cheapest car insurance in Baltimore, MD for a 35-year-old male driver with no violations or accidents, and excellent credit. If we look at prices based on his current risk profile, USAA offers the best car insurance rates in Baltimore at $1,663 a year. This is $104 more than the average rate paid by Maryland drivers of $1,559. Liberty Mutual, Erie, Penn National, and State Auto are also on the list of the most affordable Baltimore, MD auto insurance companies.
The example below compares rates after we give the driver in the first chart a chargeable claim, less-than-perfect credit, and a few traffic violations. Since every car insurance company uses their own method to determining premium rates, getting updated rate quotes could now result in a substantially altered list of the cheapest companies as shown below.
MetLife now has the lowest price in Baltimore, MD with Travelers, GEICO, Nationwide, and Erie now being in the top five. This demonstrates why Baltimore drivers need to perform a complete rate comparison when trying to get the most budget-friendly car insurance rates for good drivers. Prices are made up of many things and change substantially, so the cheapest company the last time you shopped around may now be an over-priced policy.