Truthfully, the best way to find more affordable car insurance rates is to compare prices at least once a year from insurance carriers that insure vehicles in Baltimore. You can compare prices by following these steps.
First, learn about how insurance works and the factors you can control to prevent expensive coverage. Many factors that are responsible for high rates such as at-fault accidents and a not-so-good credit history can be eliminated by making minor driving habit or lifestyle changes. Read the full article for ideas to keep prices down and find additional discounts.
Second, compare rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Allstate, while independent agents can provide prices from multiple sources.
Third, compare the new quotes to your current policy premium and determine if there is any savings. If you find a lower rate, make sure there is no coverage gap between policies.
A good tip to remember is to make sure you’re comparing similar coverage information on every price quote and and to analyze as many different companies as possible. This guarantees a fair price comparison and maximum price selection.
Unbelievable but true according to a study 70% of consumers kept their coverage with the same insurance company for at least four years, and approximately 40% of consumers have never quoted insurance rates at all. Consumers in Maryland can cut their rates by nearly 55% a year by just comparing rate quotes, but they just don’t understand how easy it is to find lower-cost insurance by shopping around.
If you’re already insured or just want to reduce your rates, you can follow these tips to lower your rates and still have adequate protection. Locating the best rates in Baltimore is quite easy if you know the best way to do it. Shoppers just need to know the fastest way to compare prices online.
Chevy Cobalt insurance rates and statistics
The information shown below showcases detailed analysis of rate quotes for Chevy Cobalt models. Having insight into how car insurance premiums are calculated is important for you to make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cobalt LS 4-Dr Sedan | $192 | $492 | $482 | $28 | $144 | $1,338 | $112 |
| Cobalt XFE 4-Dr Sedan | $192 | $492 | $482 | $28 | $144 | $1,338 | $112 |
| Cobalt LS 2-Dr Coupe | $220 | $492 | $532 | $32 | $160 | $1,436 | $120 |
| Cobalt XFE 2-Dr Coupe | $220 | $492 | $532 | $32 | $160 | $1,436 | $120 |
| Cobalt LT 4-Dr Sedan | $220 | $492 | $482 | $28 | $144 | $1,366 | $114 |
| Cobalt LT 2-Dr Coupe | $248 | $492 | $532 | $32 | $160 | $1,464 | $122 |
| Cobalt SS Turbo 2-Dr Coupe | $276 | $642 | $532 | $32 | $160 | $1,642 | $137 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, multi-vehicle, and safe-driver. Prices do not factor in specific Baltimore garaging location which can alter premium rates greatly.
Analysis of deductible levels
When shopping for insurance, a common question is at what level do you set your deductibles. The comparisons below may help to illustrate the premium difference when you select higher and lower coverage deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second rate table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cobalt LS 4-Dr Sedan | $304 | $744 | $458 | $28 | $138 | $1,697 | $141 |
| Cobalt XFE 4-Dr Sedan | $304 | $744 | $458 | $28 | $138 | $1,697 | $141 |
| Cobalt LS 2-Dr Coupe | $350 | $744 | $508 | $30 | $152 | $1,809 | $151 |
| Cobalt XFE 2-Dr Coupe | $350 | $744 | $508 | $30 | $152 | $1,809 | $151 |
| Cobalt LT 4-Dr Sedan | $350 | $744 | $458 | $28 | $138 | $1,743 | $145 |
| Cobalt LT 2-Dr Coupe | $394 | $744 | $508 | $30 | $152 | $1,853 | $154 |
| Cobalt SS Turbo 2-Dr Coupe | $440 | $968 | $508 | $30 | $152 | $2,123 | $177 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cobalt LS 4-Dr Sedan | $168 | $392 | $458 | $28 | $138 | $1,184 | $99 |
| Cobalt XFE 4-Dr Sedan | $168 | $392 | $458 | $28 | $138 | $1,184 | $99 |
| Cobalt LS 2-Dr Coupe | $194 | $392 | $508 | $30 | $152 | $1,276 | $106 |
| Cobalt XFE 2-Dr Coupe | $194 | $392 | $508 | $30 | $152 | $1,276 | $106 |
| Cobalt LT 4-Dr Sedan | $194 | $392 | $458 | $28 | $138 | $1,210 | $101 |
| Cobalt LT 2-Dr Coupe | $218 | $392 | $508 | $30 | $152 | $1,300 | $108 |
| Cobalt SS Turbo 2-Dr Coupe | $244 | $510 | $508 | $30 | $152 | $1,444 | $120 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Rate information does not factor in specific location information which can affect auto insurance rates greatly.
We can estimate from the data above that using a $100 deductible costs approximately $45 more each month or $540 a year averaged for all Cobalt models than buying the higher $1,000 deductible. Since you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you go at least 20 months between claim filings, you would probably come out ahead if you opt for a higher deductible. Here is an example of how this decision is made.
| Average monthly premium for $100 deductibles: | $151 |
| Average monthly premium for $1,000 deductibles (subtract): | – $106 |
| Monthly savings from raising deductible: | $45 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $45 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 20 months |
The diagram below highlights how deductible choice and can affect Chevy Cobalt insurance rates for each different age category. The premiums are based on a married female driver, full coverage, and no discounts are taken into consideration.
Insurance rates by gender and age in Baltimore
The illustration below illustrates the comparison of Chevy Cobalt auto insurance rates for male and female drivers. The information is based on no claims or driving citations, full coverage, $500 deductibles, single status, and no discounts are applied to the premium.
What Determines Chevy Cobalt Insurance Prices?
Many things are considered when you get your auto insurance bill. Most are fairly basic like your driving record, but others are less obvious like your vehicle usage or your financial responsibility.
The factors shown below are some of the things used by insurance companies to determine your rate level.
Do safer cars cost less to insure? – Safer cars tend to be cheaper to insure. Safe vehicles result in less severe injuries and better occupant protection means lower claim amounts and thus lower rates. If your Chevy Cobalt is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.
What type of car do you drive? – The make and model of the car or truck you own makes a substantial difference in your auto insurance rates. Economy passenger cars receive the most favorable rates, but the final cost of insurance is determined by many other factors.
The chart below assumes a married female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It compares Chevrolet Cobalt insurance premiums compared to other makes and models that have different performance risks.
Careless driving leads to higher premiums – Drivers with clean records get better prices compared to drivers with tickets. Even a single moving violation can increase rates twenty percent or more. People who have careless tickets such as DWI, reckless driving or hit and run convictions may find they need to complete a SR-22 with their state DMV in order to prevent their license from being revoked.
The information below shows how traffic citations and at-fault claims can increase Chevy Cobalt car insurance costs for different categories of driver ages. The premiums assume a single female driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.
Age of drivers – Drivers with little experience are known to be inattentive and easily distracted in a vehicle and because of this, their auto insurance rates are much higher. Older, more experienced drivers are proven to be safer behind the wheel, are lower risk to insure, and get fewer tickets.
The next chart assumes a single driver, full coverage with $500 deductibles, and no discounts or violations.
What is the best auto insurance company in Maryland?
Selecting a highly-rated auto insurance company can be a challenge considering how many choices there are in Baltimore. The company ratings below may help you choose which coverage providers to look at comparing rates from.
Top 10 Baltimore Car Insurance Companies Overall
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
A conclusion for your auto insurance search
When you buy Baltimore auto insurance online, you should never sacrifice coverage to reduce premiums. There are too many instances where an insured cut uninsured motorist or liability limits only to regret at claim time that the small savings ended up costing them much more. The ultimate goal is to find the BEST coverage for the lowest cost, but do not skimp to save money.
Cheaper Chevy Cobalt insurance in Baltimore can be purchased both online in addition to many Baltimore insurance agents, so get free Baltimore auto insurance quotes from both of them in order to have the best price selection to choose from. Some insurance companies may not provide online price quotes and most of the time these smaller providers provide coverage only through independent agents.
Throughout this article, we presented a lot of techniques to reduce Chevy Cobalt insurance rates online in Baltimore. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Consumers could even find that the best price on auto insurance is with the least-expected company.
More information is available at these links:
- Help Your Teen Be a Better Driver (State Farm)
- Who Has the Cheapest Car Insurance Rates for Infrequent Drivers in Baltimore? (FAQ)
- What is the Cheapest Auto Insurance in Baltimore, Maryland? (FAQ)
- What Insurance is Cheapest for Young Drivers in Baltimore? (FAQ)
- Who Has the Cheapest Baltimore Auto Insurance Quotes for a Nissan Altima? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Drivers Over Age 70 in Baltimore? (FAQ)
- Who Has Cheap Auto Insurance for a Kia Optima in Baltimore? (FAQ)
- Teen Driving Statistics (GEICO)
- Shopping for a Safe Car (Insurance Information Institute)