Save Money on Subaru Legacy Insurance in Baltimore

The most effective way to save money on Subaru Legacy insurance in Baltimore is to begin comparing prices regularly from companies in Maryland.

1. Take a little time to learn about auto insurance and the things you can change to keep rates down. Many things that result in higher prices like traffic citations, accidents, and a not-so-good credit history can be remedied by making minor changes in your lifestyle.
2. Quote rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from a single company like Progressive or Farmers Insurance, while independent agencies can provide prices from multiple insurance companies.
3. Compare the new rate quotes to your current policy premium to see if cheaper Legacy coverage is available in Baltimore. If you find a lower rate and buy the policy, verify that coverage does not lapse between policies.
4. Tell your current company of your decision to cancel your current coverage and submit the required down payment along with the signed application for the new coverage. As soon as you can, place your new proof of insurance paperwork with your vehicle’s registration.

One thing to remember is to make sure you’re comparing similar deductibles and liability limits on each quote request and and to analyze all possible companies. Doing this helps ensure a level playing field and many rates to choose from.

A recent survey discovered that the vast majority of drivers kept their policy with the same company for over three years, and approximately 38% of consumers have never compared rate quotes at all. With the average insurance premium being $1,500, Baltimore drivers could pocket 55% a year by just shopping around, but they think it’s difficult to find cheap insurance rates.

To find the best car insurance quotes, there are several ways to obtain and compare prices from local Baltimore car insurance companies. The quickest method to lower the rate you pay for Subaru Legacy insurance is simply to get online rate quotes.

It’s so fast and easy to compare rate quotes online that it takes the place of having to spend time driving to different Baltimore agent offices. The internet makes this process obsolete unless you’re the type of person who wants the professional guidance of a local Baltimore agent. You can, however, comparison shop your insurance online and still use a local agent. When price shopping your coverage, comparing more quotes gives you a better chance of getting a lower rate.

The providers in the list below have been selected to offer comparison quotes in Maryland. To locate cheap car insurance in Baltimore, MD, we recommend you visit several of them to get the best price comparison.

Insurance coverage analysis

The rate table below showcases estimates of coverage costs for Subaru Legacy models. Being more informed about how insurance rates are figured can help guide drivers when making decisions when choosing a new policy provider.

Data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Price information does not factor in specific zip code location which can influence price quotes greatly.

Physical damage deductibles

A question often asked by Baltimore drivers is which deductibles should you choose. The comparison tables below can help illustrate the price difference between low and high policy deductibles. The first rate quote example uses a $250 deductible for physical damage and the second set of prices uses a $500 deductible.

Prices above 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, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in vehicle location which can impact premiums noticeably.

Using the data above, we can ascertain that using a $250 deductible costs an average of $17 more each month or $204 each year than opting for the higher $500 deductible. Since you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you average at a minimum 15 months between claims, you would probably come out ahead by going with a higher deductible.

Rate difference between full and liability-only coverage

The diagram below visualizes the comparison of Subaru Legacy insurance prices with full physical damage coverage and with liability coverage only. The price estimates are based on no claims or driving citations, $250 deductibles, drivers are not married, and no other discounts are factored in.

When to stop paying for full coverage

There is no set rule of when to stop paying for comp and collision coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.

For example, let’s pretend your Subaru Legacy replacement cost is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $4,000 after the deductible is paid. If you are paying more than $400 a year for comprehensive and collision coverage, then it could be time to drop full coverage.

There are some conditions where only buying liability is not advised. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not buy liability only.

Subaru Legacy Insurance Rates Can Be More Affordable

Part of the auto insurance buying process is learning some of the elements that help calculate auto insurance rates. If you know what influences your rates, this enables informed choices that can earn you big savings.

Good drivers pay lower prices – Good drivers get better rates than bad drivers. Just one speeding ticket may cause rates to rise to the point where it’s not affordable. Drivers unfortunate enough to have flagrant citations like reckless driving, hit and run or driving under the influence may face state-mandated requirements to complete a SR-22 with their state motor vehicle department in order to keep their license.

The illustration below highlights how speeding tickets and fender-benders can drive up Subaru Legacy car insurance rates for each age group. The rates are based on a single female driver, full physical damage coverage, $100 deductibles, and no discounts are applied.

More traffic means higher claims – Having an address in a small town has it’s advantages if you are looking for the lowest rates. Fewer people corresponds to lower accident rates. Drivers in populated Maryland areas have to deal with more aggressive driving styles and longer commute times. Longer commute distances can result in more accidents.

Gender is a factor – Over time, data shows women tend to be less risk to insure than men. Now that doesn’t mean men are WORSE drivers than women. Females and males have auto accidents in similar percentages, but males cause more damage. In addition to higher claims, males also get higher numbers of serious violations like driving under the influence (DUI). Male drivers age 16 to 19 have the highest risk to insure and are penalized with high auto insurance rates.

The information below visualizes the comparison of Subaru Legacy insurance costs for male and female drivers. The information is based on no accidents, no driving violations, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are taken into consideration.

Lower premiums for safer vehicles – Cars with five star safety ratings can get you lower premiums. Safer cars help reduce the chance of injuries in an accident and reduced instances of injuries means less claims paid which can result in lower premiums. If the Subaru Legacy is rated at a minimum four stars on Safercar.gov it may cost less to insure.

Lower rates with a multi-policy discount – Most major insurers give better rates to policyholders that have more than one policy in the form of a multi-policy discount. Discounts can amount to ten percent or more. Even if you already get this discount, you still need to shop around to help guarantee you have the best rates.

Stress out and pay more – Do you work in a high-stress field? Jobs like military personnel, police officers, and dentists tend to pay the highest average rates attributed to intense work-related stress and extremely grueling work hours. On the flip side, jobs like professors, historians and performers receive lower rates.

Maintain auto insurance coverage – Having a lapse in insurance coverage will be a sure-fire way to increase your rates. Not only will rates go up, failure to provide proof of insurance could result in a hefty fine and possibly a revoked license. Then you may be required to submit proof of financial responsibility or a SR-22 with the Maryland motor vehicle department.

Fast cars cost more to insure – The performance of the vehicle you own makes a significant difference in your auto insurance rates. The cheapest rates are for lower performance four cylinder passenger models, but your final cost has many other factors.

The next chart assumes a single male driver age 40, full coverage with $1000 deductibles, and no discounts or violations. The data compares Subaru Legacy rates compared to other makes and models that have a range of risk factors.

Insurance loss data for Subaru Legacy vehicles – Insurance companies use past loss statistics for each vehicle when setting rates for each model. Models that historically have higher number or severity of losses will be charged more to insure. The next table shows the insurance loss data used by companies for Subaru Legacy vehicles.

For each coverage type, the claim amount for all vehicles compiled together is represented as 100. Percentage values below 100 suggest a better than average loss history, while percentage numbers above 100 indicate more frequent losses or an increased chance of a larger loss.

Insurance protects more than just your car

Despite the high cost of buying insurance for a Subaru Legacy in Baltimore, insurance is not optional due to several reasons.

• Most states have minimum liability requirements which means you are required to carry specific minimum amounts of liability insurance in order to license the vehicle. 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, more than likely the lender will require that you have comprehensive coverage to ensure they get paid if you total the vehicle. If you let the policy lapse, the lender will be forced to insure your Subaru at an extremely high rate and force you to reimburse them much more than you were paying before.
• Insurance protects both your vehicle and your personal assets. It also can pay for medical expenses for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, will also pay to defend you if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will pay to repair the damage.

The benefits of buying enough insurance are without a doubt worth the cost, especially when you need to use it. According to a recent study, the average American driver is wasting up to $820 a year so compare rates at least once a year to save money.