Establishing which insurers offer the cheapest auto insurance rates for active military will involve more work than just comparing a company or two. Each auto insurer uses their own formula for determining rates, so we’ll take a look at the auto insurance companies that tend to have lower prices in Baltimore.
Lowest Insurance Price Quotes for Military
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $958 |
| 2 | Liberty Mutual | $1,081 |
| 3 | Penn National | $1,126 |
| 4 | Erie | $1,127 |
| 5 | State Auto | $1,178 |
| 6 | Amica | $1,295 |
| 7 | Nationwide | $1,393 |
| 8 | MetLife | $1,414 |
| 9 | Travelers | $1,440 |
| 10 | California Casualty | $1,484 |
| 11 | GEICO | $1,486 |
| 12 | Allstate | $1,645 |
| 13 | State Farm | $1,646 |
| 14 | Progressive | $2,128 |
| 15 | Encompass | $2,516 |
| 16 | Victoria | $3,023 |
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USAA has some of the lowest car insurance rates in Baltimore at around $958 per year. This is $601 less than the average price paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto would also make the list of some of the cheapest Baltimore, MD car insurance companies.
In this example, if you are insured with State Auto and switched to Liberty Mutual, you might realize a yearly price reduction of in the neighborhood of $97. Customers with Amica might save as much as $214 a year, and Nationwide insureds might lower prices by up to $312 a year.
To compare your rates to other Maryland insurance companies, click here to begin a quote or visit any of the companies below.
These premium estimates are averages across all drivers and vehicles and are not factoring in a specific location for active military. So the auto insurance company that is best suited for you may not even be in the top 16 companies in the list above. That point stresses why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
The make and model of vehicle needing coverage is one of the largest factors when looking for cheaper insurance for active military. Vehicles with high performance, a lack of modern safety features, or a track record of large liability claims will cost substantially more to insure than more modest models. The table below shows insurance prices for some of the most cost-effective vehicles to insure.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $2,869 |
| Chevrolet Malibu LS | $2,905 |
| Toyota RAV4 Limited 2WD | $2,911 |
| Ford Fusion S 4-Dr Sedan | $2,905 |
| Ford Explorer Limited 2WD | $2,962 |
| Honda Civic EX 4-Dr Sedan | $3,001 |
| Honda Accord LX-P 4-Dr Sedan | $3,008 |
| Ford Escape XLT 2WD | $3,018 |
| Ford F-150 STX Regular Cab 2WD | $3,093 |
| Toyota Prius | $3,108 |
| Kia Optima LX | $3,111 |
| Dodge Ram Quad Cab SLT 4WD | $3,168 |
| Honda Odyssey LX | $3,300 |
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Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate information does not factor in your specific Baltimore, MD location which can alter coverage rates greatly.
Based on these rates, you can presume that makes and models like the Honda CR-V, Chevrolet Malibu, Toyota RAV4, and Ford Fusion are going to be some of the most affordable vehicles to insure for military personnel.
Types of discounts on Baltimore car insurance
Insurance companies that provide policies for active military could also offer policy discounts that could potentially reduce rates by as much as 25% or more if you are eligible for them. Companies and the discounts they provide include:
- State Farm discounts include defensive driving training, driver’s education, passive restraint, safe vehicle, Drive Safe & Save, anti-theft, and student away at school.
- American Family has discounts for TimeAway discount, air bags, good student, good driver, defensive driver, and early bird.
- AAA offers premium reductions for AAA membership discount, anti-theft, pay-in-full, multi-policy, good driver, and good student.
- GEICO includes discounts for military active duty, good student, five-year accident-free, emergency military deployment, and daytime running lights.
- Mercury Insurance offers discounts including ease of repair, low natural disaster claims, accident-free, type of vehicle, location of vehicle, and multi-policy.
- Farmers Insurance policyholders can earn discounts including mature driver, switch companies, multi-car, teen driver, and alternative fuel.
- Progressive offers discounts for multi-policy, online quote discount, multi-vehicle, homeowner, online signing, continuous coverage, and good student.
The example below shows the comparison of auto insurance rates with and without some available policy discounts. The rate quotes are based on a male driver, no claims, a clean driving record, Maryland state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the price with no discounts. The second bar shows the rates with defensive driving course, accident-free, vehicle safety, safe-driver, homeowner, and claim-free discounts applied. When discounts are applied, the average savings per year on auto insurance for active military is 28% or $722.
The information below highlights how deductible selection can raise or lower insurance rates when getting quotes for cheap insurance for active military. The prices are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
In the chart above, a 50-year-old driver could lower their policy premium by $338 a year by switching from a $100 deductible to a $500 deductible, or save $512 by selecting a $1,000 deductible. Younger drivers, like the age 20 example, could reduce their rates $1,130 every year by choosing a larger deductible amount. When choosing a higher deductible, it’s a good idea to have plenty of savings on hand to enable you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Does it make sense to buy full coverage?
Reducing the cost of auto insurance is the goal of the majority of people, and one of the fastest ways to lower the cost of insurance for active military is to not insure for full coverage. The information below illustrates the difference between premium costs with and without full coverage. The premiums assume no tickets, no at-fault accidents, $500 deductibles, single marital status, and no discounts are factored in.
If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $1,910 per year more than just buying liability insurance. That is a significant amount which raises the question if paying for full coverage is a waste of money. There is no clear-cut formula to stop paying for physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.