If you are new to online price comparisons, chances are good that you are baffled by the vast number of local and online companies who claim to have the best auto insurance rates.
A recent study showed that most consumers in Maryland kept their coverage with the same auto insurance company for a minimum of four years, and nearly the majority have never compared rates with other companies. American insurance shoppers could save an average of $860 each year just by getting comparison quotes, but they don’t believe how much they could save if they switch to a new company.
It’s smart to take a look at other company’s rates quite often because auto insurance prices change quite often. Even if you think you had the lowest rates on Land Rover LR4 insurance in Baltimore a year ago you can probably find a lower rate today. Block out anything you think you know about auto insurance because you’re going to learn the easiest way to save on auto insurance.
When comparison shopping, comparing more rates from different companies provides better odds of finding a lower rate than you’re paying now.
The companies shown below have been selected to offer quotes in Baltimore, MD. To get cheap car insurance in Baltimore, it’s highly recommended you visit two to three different companies to find the lowest car insurance rates.
Land Rover LR4 insurance charts and tables
The rate table displayed next showcases detailed analysis of insurance rates for Land Rover LR4 models. Being able to understand how auto insurance premiums are determined is important for you to make smart policy decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LR4 | $206 | $374 | $382 | $22 | $114 | $1,098 | $92 |
| LR4 HSE | $206 | $374 | $382 | $22 | $114 | $1,098 | $92 |
| LR4 HSE Plus | $206 | $424 | $382 | $22 | $114 | $1,148 | $96 |
| LR4 LUX | $226 | $424 | $382 | $22 | $114 | $1,168 | $97 |
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Above prices assume married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Estimates do not factor in Baltimore location which can alter rates considerably.
Can higher deductibles save money?
One of the hardest decisions when shopping for insurance is which deductibles should you choose. The tables below lay out the price difference of buying low and high physical damage coverage deductibles. The first pricing table uses a $250 deductible for comp and collision and the second rate table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LR4 | $434 | $718 | $406 | $24 | $122 | $1,729 | $144 |
| LR4 HSE | $434 | $718 | $406 | $24 | $122 | $1,729 | $144 |
| LR4 HSE Plus | $434 | $812 | $406 | $24 | $122 | $1,823 | $152 |
| LR4 LUX | $476 | $812 | $406 | $24 | $122 | $1,865 | $155 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| LR4 | $354 | $578 | $406 | $24 | $122 | $1,484 | $124 |
| LR4 HSE | $354 | $578 | $406 | $24 | $122 | $1,484 | $124 |
| LR4 HSE Plus | $354 | $654 | $406 | $24 | $122 | $1,560 | $130 |
| LR4 LUX | $386 | $654 | $406 | $24 | $122 | $1,592 | $133 |
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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, safe-driver, multi-policy, claim-free, and homeowner. Rate quotes do not factor in zip code location which can alter prices considerably.
Based on the data above, we can derive that using a $250 deductible costs approximately $21 more each month or $252 a year across all Land Rover LR4 models than buying the higher $500 deductible. Due to the fact that you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you go at least 12 months between claim filings, you would come out ahead by going with a higher deductible.
How to determine if raising deductibles makes sense
| Average monthly premium for $250 deductibles: | $149 |
| Average monthly premium for $500 deductibles (subtract): | – $128 |
| Monthly savings from raising deductible: | $21 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $21 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 12 months |
One thing to be aware of is that increasing deductibles to save money means you will have to pay more of your own money when you have a claim. You need to have some savings in order to pay the higher deductible.
The diagram below illustrates how choosing a deductible and can influence Land Rover LR4 insurance costs for each different age group. The costs are based on a married male driver, comprehensive and collision coverage, and no additional discounts are factored in.
Insurance rates by gender and age in Baltimore
The illustration below shows the comparison of Land Rover LR4 annual premium costs for male and female drivers. The rate quotes are based on no driving violations, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, marital status is single, and no discounts are factored in.
Full coverage versus liability only rates
The chart below illustrates the difference between Land Rover LR4 auto insurance rates with full coverage compared to only the Maryland minimum liability coverage. The prices are based on no claims or driving citations, $100 deductibles, single marital status, and no discounts are applied.
When to drop full coverage
There is no exact formula for phasing out comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s assume your Land Rover LR4 book value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $5,000 after paying your deductible. If premiums are more than $500 a year to have full coverage, then it’s probably a good time to buy liability coverage only.
There are some circumstances where eliminating full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not opt for liability only.
Insurance does more than just repair your car
Despite the potentially high cost of Land Rover LR4 insurance, insuring your vehicle is required in Maryland but also provides important benefits.
First, almost all states have mandatory insurance requirements which means the state requires a minimum amount of liability 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.
Second, if your Land Rover LR4 has a loan, most lenders will make it a condition of the loan that you have physical damage coverage to ensure they get paid if you total the vehicle. If the policy lapses, the lender may have to buy a policy to insure your Land Rover for a much higher rate and force you to pay the higher premium.
Third, insurance protects both your assets and your vehicle. It will also cover all forms of medical expenses that are the result of an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if you cause an accident and are sued. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of having insurance more than cancel out the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver overpays as much as $865 each year so you should quote your policy with other companies each time the policy renews to ensure rates are competitive.
Learn How to Get Insurance at a Discount
One of the most helpful ways to save on insurance is to to have a grasp of a few of the rating criteria that aid in calculating your insurance rates. If you know what impacts premium levels, this allows you to make educated decisions that may result in lower insurance prices. Many factors are taken into consideration when you quote your car insurance policy. Some of the criteria are obvious such as your driving history, although some other factors are less apparent such as your marital status and annual miles driven.
Listed below are a few of the things companies use to determine rates.
Choose high crash test ratings and save – Vehicles with good safety scores tend to have lower insurance rates. Safer cars reduce the chance of injuries and fewer serious injuries means less money paid by your insurance company which can result in lower premiums. If the Land Rover LR4 has ratings of a minimum four stars on Safercar.gov you may qualify for a discount.
High coverage deductibles lower costs – Physical damage insurance, also known as collision and other-than-collision, insures against damage to your Land Rover. A few examples of covered claims would be running into the backend of another car, damage caused by hail, or theft. Your deductibles tell how much you are required to spend out-of-pocket before a claim is paid by your company. The more you pay before a claim is paid (deductible), the less your company will charge you for insurance.
Drive less and pay lower prices – The more you drive annually the more you’ll pay to insure your vehicle. A lot of insurance companies calculate rates based on how the vehicle is used. Autos used primarily for pleasure use qualify for better rates than vehicles that have high annual mileage. Ask your agent if your insurance policy correctly shows the right rating data. An incorrectly rated LR4 is throwing money out the window.
Only buy coverage you need – Policies have optional add-on coverages you can purchase on your insurance policy. Coverage for things like rental car coverage, towing coverage, and membership fees are examples of these. These may sound like a good investment when you first buy your policy, but now you might not need them so remove them and pocket the money.
High insurance claims frequency drives up prices – Auto insurance companies in Maryland give the best rates to people who are claim-free. If you file claims often, you can expect either policy cancellation or increased premiums. Your insurance policy is intended for claims that pose a financial burden.
Insurance loss data for a Land Rover LR4 – Insurers use statistical claims data to calculate a rate that will offset any claims. Vehicles that the data determines to have higher prevalence or dollar amount of losses will have a higher premium rate.
The next table shows the insurance loss data for Land Rover LR4 vehicles. For each coverage category, the loss probability for all vehicles, as an average, is set at 100. Numbers shown that are under 100 mean the vehicle has better than average losses, while values that are above 100 indicate frequent claims or a tendency for losses to be larger than average.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Land Rover LR4 4dr 4WD | 87 | 105 | 134 | 47 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
How to find a good Maryland car insurance company
Picking a highly-rated car insurance provider is hard considering how many companies are available to choose from in Baltimore. The ranking information listed below can help you decide which car insurance companies to look at when looking for cheaper rates.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
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Data Source: Insure.com Best Car Insurance Companies
Persistence will pay off
People leave their current company for many reasons like delays in responding to claim requests, not issuing a premium refund, questionable increases in premium or delays in paying claims. It doesn’t matter what your reason, finding a new company is actually quite simple.
In this article, we covered some good ideas how you can reduce Land Rover LR4 insurance prices online in Baltimore. The key thing to remember is the more times you quote, the more likely it is that you will get a better rate. Drivers may even discover the lowest priced auto insurance comes from some of the smallest insurance companies.
More affordable auto insurance in Baltimore can be purchased from both online companies in addition to local insurance agencies, and you should compare price quotes from both to get a complete price analysis. There are still a few companies who don’t offer the ability to get quotes online and usually these smaller companies sell through independent insurance agents.
Steps to buying lower priced Land Rover LR4 insurance in Baltimore
The easiest way to get low-cost Land Rover LR4 insurance in Baltimore is to start doing an annual price comparison from different companies who sell insurance in Maryland.
First, get an understanding of what coverages are included in your policy and the modifications you can make to keep rates down. Many policy risk factors that cause rate increases like traffic violations and a negative credit score can be improved by being financially responsible and driving safely.
Second, compare prices from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or Allstate, while agents who are independent can give you price quotes for many different companies. Click to view companies
Third, compare the new rates to your existing rates and determine if there is any savings. If you find better rates and make a switch, make sure there is no coverage gap between policies.
Fourth, notify your agent or company to cancel your current coverage. Submit the completed application along with a down payment to the newly selected company. When you receive it, place your new certificate of insurance in an accessible location in your vehicle.
A good tip to remember is to try to use similar coverage information on each quote and and to compare as many companies as feasibly possible. This ensures the most accurate price comparison and a thorough price selection.
Even more information is available by following these links:
- Vehicle Insurance (Wikipedia)
- How Much are Baltimore Auto Insurance Quotes for Felons? (FAQ)
- What is the Cheapest Auto Insurance in Baltimore, Maryland? (FAQ)
- Who Has Cheap Car Insurance Quotes for a Honda CR-V in Baltimore? (FAQ)
- Who Has Affordable Auto Insurance for a School Permit in Baltimore? (FAQ)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- State Car Insurance Guides (GEICO)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Institute)