Life would sure be easier if we could simply give you the name of the one company that has the cheapest coverage in Maryland. It’s just not that easy, however, as there are a whole bunch of unknown elements like whether you are married or single, if you have ever had a coverage lapse, the area you live in, and if you need full coverage or liability-only, that help determine the price you have to pay. In this article, we will teach you about these factors and others that can influence the price of auto insurance and will hopefully give you a good start in finding the cheapest car insurance in Baltimore.
For infrequent drivers, one of the big criteria that are looked at to help calculate the cost of insurance is your zip code. Regions with larger populations or more claims tend to pay more, whereas areas that tend to be more rural benefit from having to pay less for coverage.
The illustration below sorts the priciest cities in Maryland for low mileage drivers to purchase a policy in. Baltimore comes in at #1 costing $1,796 for the average policy, which is about $150 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Baltimore | $1,796 |
| 2 | Woodlawn | $1,674 |
| 3 | Dundalk | $1,535 |
| 4 | Towson | $1,527 |
| 5 | Aspen Hill | $1,478 |
| 6 | Silver Spring | $1,475 |
| 7 | Catonsville | $1,460 |
| 8 | Essex | $1,431 |
| 9 | Waldorf | $1,417 |
| 10 | Bowie | $1,390 |
| 11 | Glen Burnie | $1,383 |
| 12 | Wheaton | $1,361 |
| 13 | Gaithersburg | $1,317 |
| 14 | Rockville | $1,303 |
| 15 | Severn | $1,288 |
| 16 | Columbia | $1,275 |
| 17 | Germantown | $1,275 |
| 18 | North Bethesda | $1,256 |
| 19 | Ellicott City | $1,233 |
| 20 | Annapolis | $1,231 |
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Premium costs are comparative as specific Baltimore garaging address can lower or raise premiums greatly.
The make and model of vehicle needing coverage is one of the main factors when quoting the most affordable coverage for low mileage drivers. Vehicles with higher performance characteristics, poor passenger safety features, or an increased likelihood of liability claims will cost much more to insure than safer, lower-performance models. The information below outlines auto insurance rates for the most budget-friendly automobiles to insure in Maryland.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $2,394 |
| Honda Accord LX-P 4-Dr Sedan | $2,621 |
| Ford Escape XLS 4WD | $2,698 |
| Chevrolet Equinox LT 2WD | $2,833 |
| Toyota Tacoma Double Cab 4WD | $2,842 |
| Chevrolet Impala LT | $2,833 |
| Toyota Prius | $2,914 |
| Hyundai Elantra SE Touring Station Wagon | $2,917 |
| Ford F-150 FX2 Super Cab 2WD | $2,924 |
| Toyota Camry SE | $2,983 |
| GMC Sierra SLE Regular Cab 4WD | $3,036 |
| Nissan Rogue S AWD | $3,042 |
| Kia Optima LX | $3,036 |
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Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Rate information does not factor in specific location information which can alter coverage prices noticeably.
Based on these rates, makes and models like the Honda CR-V, Honda Accord, Ford Escape, Chevrolet Equinox, and Toyota Tacoma will definitely be some of the cheapest vehicles to insure for infrequent drivers.
Finding out which company has the lowest-priced insurance rates for low mileage drivers will take a bit more work than just quoting one company’s rates. Each insurance company uses their own method for determining rates, so to begin we’ll rank the insurance companies that tend to be cheaper in Baltimore, MD.
It’s important that readers know that Maryland insurance rates are based on many factors that can increase the price you pay for coverage. Simply turning a year older, moving to a different location, or having an at-fault accident can produce rate changes that may make certain companies cheaper in comparison to the competition.
Best Cheap Insurance Rates in Maryland
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $930 |
| 2 | Penn National | $1,104 |
| 3 | Erie | $1,115 |
| 4 | Liberty Mutual | $1,125 |
| 5 | State Auto | $1,214 |
| 6 | Amica | $1,308 |
| 7 | MetLife | $1,386 |
| 8 | Nationwide | $1,393 |
| 9 | Travelers | $1,440 |
| 10 | GEICO | $1,442 |
| 11 | California Casualty | $1,529 |
| 12 | Allstate | $1,596 |
| 13 | State Farm | $1,646 |
| 14 | Progressive | $2,128 |
| 15 | Encompass | $2,490 |
| 16 | Victoria | $2,933 |
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USAA normally has some of the lowest car insurance rates in Baltimore at around $930 annually. This is $629 less than the average rate paid by Maryland drivers of $1,559. Penn National, Erie, Liberty Mutual, and State Auto also rank well as some of the more affordable Baltimore, MD car insurance companies.
As shown above, if you buy coverage from Liberty Mutual and switched to USAA, you may realize an annual savings of about $195. Drivers with State Auto could save as much as $284 a year, and Amica insureds might lower prices by up to $378 a year.
Be aware that those premium estimates are averages across all insureds and vehicles and are not factoring in an exact location for low mileage drivers. So the insurer that has the cheapest rates for you may not even be in the top 16 companies in the list above. That emphasizes why you need to get rate quotes from many companies using your own specific driver and vehicle information.
Finding a good quality insurer is hard considering how many different companies there are to choose from in Baltimore. The ranking data below may help you select which car insurance providers you want to consider when insurance shopping for low mileage drivers.
The ratings below include companies who write in the majority of U.S. states, so smaller companies are not included in this list. If you’d like to compare prices from these companies and more, follow this link.
Top 10 Large Car Insurance Companies in Baltimore Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
- The Hartford – 87%
Full coverage rates compared to liability-only
Paying a lower price for insurance is important to most people, and one easy way to save on the cost of insurance for low mileage drivers is to not insure for full coverage. The illustration below illustrates the comparison of yearly insurance costs with and without physical damage coverage. The prices are based on no claims or violations, $500 deductibles, single marital status, and no policy discounts are applied.
If we average the cost for all age groups, full coverage costs $2,550 per year more than just insuring for liability. Lot’s of drivers question if paying for full coverage is worth it. There is no clear-cut formula to exclude full coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.
For example, let’s assume your vehicle’s settlement value is $5,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $4,500 after the deductible is paid. If premiums are more than $450 a year to have full coverage, then it might be time to consider dropping full coverage.
There are some situations where dropping full coverage is not in your best interest. If you haven’t paid off your loan, you have to keep full coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
Your low-price policy may be costing you money
Baltimore insurance rates are impacted by many things which can substantially change the price you have to pay for coverage. Turning one year older, getting divorced, or getting a DUI may cause policy rate changes resulting in some rates now being cheaper than competitors. Not only may your situation change, but auto insurance companies change prices every year to adjust for gains or losses. An extended period of higher than normal claims can result in price increases, while profitable underwriting may cause cheaper Baltimore car insurance rates.
For instance, the data below analyzes the cheapest car insurance in Baltimore, MD for a 40-year-old male driver with a clean driving record, no accidents, and a decent credit rating. If we estimate rates based on his current risk factors, USAA has the lowest car insurance rates in Baltimore at $1,653 each year. This is $94 more than the average policy premium paid by Maryland drivers of $1,559. Penn National, Liberty Mutual, Erie, and State Auto are also included in the cheapest Baltimore, MD auto insurance companies.
Now let’s give the driver from the first example a chargeable claim, a lower credit score, and a speeding ticket. Because each company uses a different method to establish rates, comparing quotes may now result in a different list of the cheapest car insurance companies in Baltimore as shown below.
Nationwide now has the best insurance rate in Baltimore, MD with MetLife, Travelers, California Casualty, and GEICO also having competitive pricing. This example illustrates why consumers need to spend some time comparing rates when trying to get the lowest insurance rates for low mileage drivers.
Auto insurance prices are calculated by many different factors and change dramatically, so the cheapest company two years ago may now be quite expensive.
If you would rather get some help when trying to find lower insurance rates for infrequent drivers, the professional agents shown below can aid you in deciding which auto insurance policy would work best for you. To locate a Baltimore auto insurance agent in your neighborhood, click the link after the list or click here to compare price quotes now.
Baltimore Insurance Network
11 E Lexington St – Baltimore, MD 21202 – (443) 869-6424
Allstate Insurance: Kent Schwab
401 Jefferson Ave – Towson, MD 21286 – (410) 433-4700
John Stein – State Farm Insurance Agent
6630 Baltimore National Pike #100b – Baltimore, MD 21228 – (410) 744-7733
Vince Vanneman – State Farm Insurance Agent
1055 Taylor Ave Ste 112 – Baltimore, MD 21286 – (410) 321-0101
More insurance agents in Baltimore, MD
How to find more affordable insurance for low mileage drivers
Here are many penny-pinching solutions that can help drivers find lower-cost car insurance.
- Raise comprehensive and collision coverage deductibles
- Drive safely
- Frequent claims may make car insurance unaffordable
- Avoid accidents and claims
- Save money by insuring older vehicles for liability only
- Compare rates regularly and switch companies to save money
The last idea is notably vital, as was pointed out in this piece. Prices charged by companies in Baltimore change constantly, so don’t be unwilling to buy from a new company if a lower-cost policy is available.
Having brand loyalty is commendable, but we do not recommend it if that loyalty results in overpaying a fortune every year. If you have a few minutes, now is a great time to compare prices and find cheaper auto insurance for low mileage drivers.