Save Money on Honda CR-V Insurance in Baltimore

Are you sick of overpaying and want more affordable Honda CR-V insurance in Baltimore? Have you had enough of robbing Peter to pay Paul to pay your insurance bill each month? Your situation is no different than many other Maryland drivers.

It’s well known that insurance companies want to keep you from shopping around. Insureds who shop around for cheaper rates will most likely switch companies because of the good chance of finding a more affordable policy premium. A survey found that drivers who did price comparisons regularly saved about $865 a year compared to people who never compared rates.

If finding the cheapest price for insurance in Baltimore is your goal, then having some insight into the best way to compare insurance rates can help you succeed in saving money.

Steps to finding better rates for Honda CR-V insurance in Baltimore

To save the most money, the best way to find affordable car insurance rates is to do an annual price comparison from insurance carriers that sell auto insurance in Baltimore.

• Step 1: Spend a few minutes and learn about the different coverages in a policy and the factors you can control to lower rates. Many rating criteria that cause high rates like traffic violations and a low credit score can be eliminated by making minor changes to your lifestyle. Later in this article we will cover more information to help reduce prices and get discounts that may be overlooked.
• Step 2: Get rate quotes from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agents can quote prices from many different companies.
• Step 3: Compare the new quotes to your existing rates to see if you can save by switching companies. If you find a lower rate, make sure there is no lapse between the expiration of your current policy and the new one.
• Step 4: Provide notification to your current company of your intent to cancel your current auto insurance policy. Submit the signed application along with the required initial payment to your new agent or company. Be sure to place the new proof of insurance certificate in an accessible location in your vehicle.

The critical component of shopping around is that you use similar coverage information on every price quote and to quote with as many carriers as you can. Doing this guarantees a fair price comparison and many rates to choose from.

Big companies like GEICO and Progressive continually bombard you with ads and it is challenging if not impossible to see past the corporate glitz and do the work needed to find the best deal.

If you are paying for car insurance now, you should be able to get lower rates using these methods. Finding the cheapest insurance coverage in Baltimore is really quite easy. Although Maryland consumers can benefit by having an understanding of how insurance companies determine what you pay and use it to your advantage.

Informed Drivers Save Every Year

Smart consumers have a good feel for the rating factors that help determine the level of your policy premiums. If you have a feel for what positively or negatively impacts your premiums, this enables informed choices that can help you get lower rates.

The following are a few of the “ingredients” that factor into prices.

• Responsible drivers pay lower rates – A bad driving record can have a huge impact on auto insurance premiums. Just one chargeable violation may increase your cost forty percent or more. Drivers with clean records tend to pay less for car insurance as compared to those with violations. People who have dangerous citations such as DUI, reckless driving or excessive speeding may need to file a proof of financial responsibility form (SR-22) with their state in order to prevent a license revocation.

  The example below shows how speeding tickets and at-fault collisions can raise Honda CR-V auto insurance costs for each different age category. The premium estimates are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.

• Theft deterrents save – Selecting a car model with a theft deterrent system can save you some money. Theft prevention devices like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping car theft.

• Age of drivers – Older drivers are more responsible, are lower risk to insure, and usually have better credit. Teenage drivers are statistically proven to get distracted easily when driving therefore car insurance rates are much higher.

  The data below uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.

• Bad credit will cost you – A driver’s credit score will be a significant factor in determining what you pay for car insurance. So if your credit rating can be improved, you could be paying less to insure your Honda CR-V by improving your credit score. Drivers with very high credit ratings tend to be better risks to insure than drivers who have lower credit ratings.
• Premiums impacted by your city – Residing in areas with lower population is a positive aspect if you are looking for the lowest rates. City drivers regularly have much more traffic and higher rates of accident claims. Fewer drivers and short commutes translates into fewer accident claims as well as less vandalism and auto theft.

• Honda CR-V claim statistics – Insurance companies use historical loss data when they set coverage costs for each model. Vehicles that statistically have increased losses will cost more to insure. The table below outlines the loss history for Honda CR-V vehicles.

  For each insurance policy coverage type, the claim amount for all vehicles as a whole is a value of 100. Percentage values below 100 are indicative of better than average losses, while values that are 100 or greater point to more losses or statistically larger losses.

  
  

  Car Insurance Loss Data for Honda CR-V Models

  Specific Honda Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Honda CR-V 4dr 2WD	68	81	58	93	86	77
  Honda CR-V 4dr 4WD	69	82	69	90	87	78

  BETTER

  AVERAGE

  WORSE

  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Just remember that comparing a large number of companies helps locate a lower rate.

The companies shown below offer free rate quotes in Baltimore, MD. If your goal is to find the cheapest car insurance in Maryland, we suggest you compare several of them in order to find the most competitive rates.

Insurance rate breakdown

The rate information below showcases different policy rates for Honda CR-V models. Learning as much as possible about how rate quotes are determined is important for making informed coverage decisions.

Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rate quotes do not factor in specific garaging location which can alter auto insurance rates greatly.

Choosing deductibles

When shopping for insurance, a common question is what deductibles to buy. The following insurance rates may help to conceptualize the differences in price when you buy lower versus higher insurance deductibles. The first table uses a $250 deductible and the second set of rates uses a $500 deductible.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Table data does not factor in specific location which can alter prices substantially.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost in the ballpark of $13 more each month or $156 a year than opting for the higher $500 deductible. Since you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 19 months between claims, you would most likely save money if you elect the higher deductible. The table below shows an example of how this decision is made.

An important sidenote is that increasing deductibles to lower your rates results in a higher out-of-pocket expense when you do file a claim. You need enough extra savings in order to pay the higher deductible.

The chart below shows how choosing a deductible and can affect Honda CR-V premium costs for different age groups of insureds. The premiums are based on a single female driver, comp and collision included, and no discounts are taken into consideration.

Honda CR-V full coverage rates compared to liability only

The illustration below shows the comparison of Honda CR-V insurance rates with full physical damage coverage and with liability coverage only. The price estimates are based on no claims or driving citations, $100 deductibles, drivers are single, and no discounts are factored in.

Deciding between full coverage and liability only

There is no definitive formula to eliminate comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s say your Honda CR-V book value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after the deductible is paid. If you are paying in excess of $800 a year for full coverage, then you might consider buying liability only.

There are some scenarios where buying only liability insurance is not a good plan. If you still have a lienholder on your title, you have to carry full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should maintain full coverage.

Auto insurance does more than just protect your car

Despite the high cost, maintaining insurance serves several important purposes.

• Almost all states have minimum mandated liability insurance limits which means you are required to buy a minimum amount of liability coverage 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.
• If you have a lien on your vehicle, most lenders will make it a condition of the loan that you have insurance to ensure they get paid if you total the vehicle. If you default on your policy, the bank will be required to insure your Honda at a significantly higher premium and force you to reimburse them for the much more expensive policy.
• Insurance protects your Honda and your assets. It also can pay for hospital and medical expenses for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to restore your vehicle to like-new condition.

The benefits of buying auto insurance more than offset the price you pay, particularly if you ever have a claim. According to a 2015 survey, the average American driver is currently overpaying as much as $855 a year so you should quote your policy with other companies every year to save money.

Companies offer many types of discounts on Honda CR-V insurance in Baltimore

Some insurance providers do not advertise every discount available in a way that’s easy to find, so below is a list both the well known as well as the least known discounts that you can inquire about if you buy Baltimore auto insurance online. If you do not check that you are getting every discount you qualify for, you are not getting the best rate possible.

• Save over 55 – Mature drivers may receive a discount up to 10%.
• Defensive Driving Course – Passing a defensive driving course is a good idea and can lower rates depending on where you live.
• Responsible Drivers – Drivers who don’t get into accidents can save as much as half off their rates as compared to drivers with claims.
• Professional Organizations – Being a member of qualifying clubs or civic groups can get you a small discount on insurance.
• Drive Less and Save – Maintaining low annual mileage could earn cheaper insurance rates.
• Auto/Life Discount – If the company offers life insurance, you could get a lower price if you buy some life insurance too.
• Bundle and Save – When you combine your home and auto insurance and place coverage with the same company they may give you a discount of 10% to 20% off each policy.
• Paperless Signup – A few larger online companies will discount your bill up to fifty bucks for buying your policy digitally online.

Discounts save money, but please remember that most discounts do not apply to all coverage premiums. Most only cut specific coverage prices like liability, collision or medical payments. Despite the fact that it seems like it’s possible to get free car insurance, you aren’t that lucky.

The chart below illustrates the difference between Honda CR-V insurance premiums with and without discounts applied to the rates. The data assumes a female driver, no claims or 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 marriage, safe-driver, multi-car, claim-free, multi-policy, and homeowner discounts applied.

If you would like to view insurance companies that provide some of the discounts listed above in Baltimore, follow this link.

Insurance agencies near you

Some consumers would prefer to talk to an insurance agent and doing that can be a smart decision An additional benefit of comparing rate quotes online is the fact that you can find better rates and still choose a local agent.

To help locate an agent, after submitting this quick form, the coverage information is immediately sent to insurance agents in Baltimore who will gladly provide quotes to get your business. It simplifies rate comparisons since you won’t have to contact any agents because prices are sent to you instantly. You can find the lowest rates without the usual hassles of price shopping. In the event you want to compare prices for a specific company, you just need to go to their quote page and fill out their quote form.

Finding the right insurer should include more criteria than just a cheap price quote. Ask your prospective agent these questions:

• Will your rates increase after a single accident?
• Is there a 24/7 contact number?
• How is replacement cost determined on your vehicle?
• If you are a high risk driver, do they have special markets for your coverage?
• Do they regularly work with personal auto policies in Baltimore?
• Are you getting all the discounts the company offers?
• Does the company have a local claim office in Baltimore?
• Will a damage claim use OEM or aftermarket replacement parts?

Multiple types of car insurance agents in Baltimore

When finding a local Baltimore insurance agency, it can be helpful to understand the different types of agencies and how they operate. Baltimore agents are categorized either exclusive agents or independent agents.

Exclusive Agents

Agents that choose to be exclusive normally can only provide a single company’s rates and some examples include Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents are unable to compare other company’s rates so you might not find the best rates. They receive extensive training on their company’s products which helps offset the inability to provide other markets.

The following is a short list of exclusive insurance agencies in Baltimore that are able to give price quote information.

More insurance agents

Independent Agencies or Brokers

Independent agencies often have affiliation with several companies and that gives them the ability to insure with a variety of different insurance companies and possibly get better coverage at lower prices. If your premiums go up, your agent can just switch to a different company and you don’t have to switch agencies.

When searching for an agent, you will definitely want to include a few independent agents so that you have a good selection of quotes to compare.

Shown below are Baltimore independent agencies willing to provide rate quotes.

More insurance agents

If you get good feedback to any questions you may have and an affordable coverage quote, it’s a good possibility that you have found an insurance agency that meets the criteria to properly service your car insurance policy.

You can lower your auto insurance rates

As you go through the steps to switch your coverage, never reduce coverage to reduce premium. There are many occasions where drivers have reduced collision coverage only to find out they didn’t have enough coverage. Your aim should be to find the BEST coverage at the best possible price while not skimping on critical coverages.

We just showed you many tips how you can reduce Honda CR-V insurance rates online in Baltimore. It’s most important to understand that the more providers you compare, the better your chances of lowering your car insurance rates. Drivers may even discover the lowest rates are with an unexpected company. They may only write in your state and offer lower car insurance rates than the large multi-state companies such as State Farm, GEICO and Nationwide.

Budget-friendly auto insurance in Baltimore can be sourced online and from local agencies, so you need to shop Baltimore auto insurance with both in order to have the best chance of saving money. A few companies don’t offer online quoting and usually these regional insurance providers only sell coverage through local independent agents.

How to find low-cost rates for Honda CR-V insurance in Baltimore

The most effective way to find low-cost prices for car insurance rates is to start comparing prices regularly from providers who provide car insurance in Baltimore.

First, read about individual coverages and the modifications you can make to keep rates low. Many risk factors that cause high rates such as accidents, careless driving, and bad credit can be remedied by being financially responsible and driving safely.

Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while independent agencies can quote rates from multiple insurance companies. View rates

Third, compare the quotes to the price on your current policy to see if a cheaper rate is available in Baltimore. If you find a better price and change companies, verify that coverage does not lapse between policies.

An important note is to use identical deductibles and limits on each price quote and and to get price quotes from as many companies as feasibly possible. This guarantees an accurate price comparison and the best price selection.

Helpful information

• Insurance losses by make and model (Insurance Institute for Highway Safety)
• Who Has Cheap Car Insurance for a Honda Accord in Baltimore? (FAQ)
• Who Has Cheap Car Insurance for Welfare Recipients in Baltimore? (FAQ)
• Who Has Cheap Auto Insurance for Good Students in Baltimore? (FAQ)
• Who Has Cheap Baltimore Auto Insurance Quotes for Inexperienced Drivers? (FAQ)
• Who Has Cheap Car Insurance Quotes for a Honda CR-V in Baltimore? (FAQ)
• New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
• Auto Insurance FAQ (Farmers Insurance)