Auto Insurance Rates for a Honda Fit in Baltimore

The best way we recommend to quote cheaper Honda Fit insurance is to regularly compare quotes from insurers in Baltimore.

• First, learn about coverages and the measures you can take to prevent high rates. Many things that increase rates such as careless driving and a not-so-good credit rating can be amended by making minor changes to your lifestyle. Later in this article we will cover ideas to help keep rates affordable and get discounts that may be overlooked.
• Second, request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can provide rates from one company like Progressive and State Farm, while independent agents can provide rate quotes from multiple insurance companies.
• Third, compare the quotes to your existing coverage to see if a cheaper rate is available. If you find a lower rate quote, make sure coverage is continuous and does not lapse.

The key thing to know about shopping around is to use the same amount of coverage on each quote and and to get prices from as many companies as feasibly possible. This ensures an accurate price comparison and the best price quote selection.

Unbelievably, the vast majority of auto insurance customers have remained with the same auto insurance company for more than four years, and almost half have never compared rates with other companies. Baltimore insurance shoppers can save hundreds of dollars each year just by shopping around, but they won’t spend time to find affordable rates by getting comparison quotes.

The most recommended method to compare insurance rates in your area is to take advantage of the fact almost all companies actually pay money for the chance to give rate comparisons. The only thing you need to do is provide a little information like an estimate of your credit level, your occupation, distance driven, and whether you drive to work or school. Those rating factors is instantly submitted to insurance companies and you will receive price estimates with very little delay.

To check rates for your car now, click here then complete the form.

The auto insurance companies shown below have been selected to offer comparison quotes in Maryland. To find the cheapest car insurance in Baltimore, it’s highly recommended you get rates from several of them to get the best price comparison.

Analysis of coverages

The premium table below covers a range of insurance coverage prices for Honda Fit models. Learning how policy rates are established can help customers make decisions on which insurance to purchase.

Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Price information does not factor in zip code location which can increase or decrease insurance rates greatly.

Can higher deductibles save money?

One of the most common car insurance questions is how high should the physical damage deductibles be. The tables below determine the price difference when you choose different comp and collision deductibles. The first rate estimation uses a $100 comprehensive and collision deductible and the second price grid uses a $1,000 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Prices do not factor in vehicle location which can change premiums greatly.

Using the data above, we can ascertain that using a $100 deductible will cost you approximately $41 more each month or $492 a year than requesting the higher $1,000 deductible. Since the policyholder would be required to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have at least 22 months between claims, you would probably save some money if you choose the higher deductible.

One thing to be aware of is that a higher deductible means you will have to pay more out-of-pocket when you have a claim. You should have some money saved in the event you have to pay the deductible to have repairs made.

Accidents and violations increase rates

The diagram below illustrates how speeding tickets and at-fault claims increase Honda Fit insurance costs for different categories of driver ages. Data assumes a single male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.

Age-based car insurance rates by gender in Baltimore

The information below visualizes the comparison of Honda Fit insurance rates for male and female drivers. The data assumes a clean driving record, no at-fault accidents, full physical damage coverage, $250 deductibles, drivers are single, and no additional discounts are factored in.

Difference between liability only and full coverage rates

The information below visualizes the comparison of Honda Fit insurance prices with full coverage compared to only the Maryland minimum liability coverage. The rates are based on a clean driving record, no claims, $500 deductibles, marital status is single, and no discounts are applied to the premium.

Are you wasting money on full coverage?

There is no definitive formula of when to drop full coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your Honda Fit replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $6,000 after you pay the deductible. If you are paying in excess of $600 annually for your policy with full coverage, then you might want to think about dropping full coverage.

There are some cases where dropping full coverage is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not opt for liability only.

Car insurance does more than just repair your car

Even though Baltimore Fit insurance rates can get expensive, paying for car insurance may be mandatory for several reasons.

• Almost all states have compulsory liability insurance requirements which means the state requires a specific minimum amount of liability coverage in order to drive the car. 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 loan on your Fit, most banks will force you to have comprehensive coverage to guarantee their interest in the vehicle. If you cancel or allow the policy to lapse, the bank may buy a policy for your Honda at a much higher premium rate and make you pay for it.
• Insurance safeguards not only your vehicle but also your financial assets. It will also pay for medical bills for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay attorney fees if you cause an accident and are sued. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to have it repaired.

The benefits of having car insurance are without a doubt worth the cost, particularly for liability claims. As of last year, the average driver in Maryland is overpaying over $810 a year so shop around each time the policy renews to help ensure money is not being wasted.

Why Your Insurance Costs might be higher

Consumers need to have an understanding of the factors that play a part in calculating the price you pay for car insurance. When consumers understand what impacts premium levels, this allows you to make good choices that can earn you lower premium levels. Many factors are used when pricing auto insurance. Some of the criteria are obvious like your driving record, although others are not quite as obvious such as your credit history or your commute time.

The itemized list below are a few of the “ingredients” companies use to determine your premiums.

• Performance makes a difference – The performance of the car you need to insure makes a significant difference in how high your rates are. The most favorable rates will normally be found when insuring low performance passenger cars, but your final cost has many other factors.

  The next chart uses these assumptions: single male driver age 40, full coverage with $500 deductibles, and no discounts or violations. The chart compares Honda Fit insurance rates compared to other vehicles that have different performance risks.

• High credit rating translates to low prices – Your credit score can be a huge factor in determining premium rates. Therefore, if your credit score can use some improvement, you could be paying less to insure your Honda Fit by spending a little time repairing your credit. Drivers who have high credit scores tend to be less risk to insure than those with bad credit.
• What’s your car’s IIHS safety rating? – Safer cars tend to have better insurance rates. Safe vehicles protect occupants better and better occupant protection means less claims paid and lower rates for you. If the Honda Fit is rated at a minimum four stars on Safercar.gov you may qualify for a discount.
• Insurance claims cost money – If you frequently file small claims, don’t be surprised to see higher rates. Auto insurance companies in Maryland award lower rates to drivers who do not rely on their insurance for small claims. Auto insurance is intended for the large, substantial claims.

• Honda Fit insurance loss statistics – Insurance companies analyze the history of losses as a tool for profitable underwriting. Models that have higher claim amounts or frequency will have higher rates.

  The table below shows the insurance loss data used by companies for Honda Fit vehicles. For each policy coverage type, the loss probability for all vehicles, regardless of manufacturer or model, is equal to 100. Values that are 100 or less suggest losses that are better than average, while values that are above 100 indicate frequent claims or an increased chance of a larger loss.

  
  

  Honda Fit Insurance Loss Statistics

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Honda Fit	89	78	90	99	97	92

  BETTER

  AVERAGE

  WORSE

  Statistics from IIHS.org for 2013-2015 Model Years

Cheap Honda Fit insurance in Baltimore

The cost of insuring your cars can be expensive, but there are discounts available that can help lower your rates. Some discounts will apply at the time of quoting, but some may not be applied and must be asked about before being credited.

• Theft Deterrent – Vehicles that have factory alarm systems and tracking devices can help prevent theft and can earn a small discount on your policy.
• Student Discounts – Performing well in school may save you up to 25%. You can use this discount normally up to age 25.
• Braking Control Discount – Anti-lock brake equipped vehicles can avoid accidents so companies give up to a 10% discount.
• 55 and Retired – Older drivers may be able to get better insurance rates.
• Defensive Driver Discount – Participating in a course teaching driver safety skills could possibly earn you a 5% discount if your company offers it.

As a footnote on discounts, most discount credits are not given to the whole policy. A few only apply to specific coverage prices like comp or med pay. Even though the math looks like all those discounts means the company will pay you, company stockholders wouldn’t be very happy. Any amount of discount will cut the premium cost.

The illustration below compares Honda Fit insurance costs with and without policy discounts. The information is based on a female driver, no claims or driving citations, Maryland state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, safe-driver, marriage, homeowner, and claim-free discounts applied.

Some of the insurance companies that possibly offer these money-saving discounts may include but are not limited to:

• State Farm
• Nationwide
• GEICO
• AAA
• 21st Century
• The Hartford

Check with all the companies which discounts you may be entitled to. Some of the earlier mentioned discounts might not be offered on policies in Baltimore. To see a list of insurance companies that offer some of these discounts in Baltimore, follow this link.

Which policy gives me the best coverage?

When quoting and comparing a policy, there really is not a one size fits all plan. Everyone’s needs are different.

These are some specific questions could help you determine if your situation would benefit from an agent’s advice.

• Does my policy pay for OEM or aftermarket parts?
• What is medical payments coverage?
• Is my teen driver covered when they drive my company car?
• Do I need special coverage while pulling a rented trailer?
• Do I have coverage if I rent a car in Mexico?
• Are rental cars covered under my policy?
• Does my car insurance cover rental cars?

If you’re not sure about those questions, then you may want to think about talking to an agent. To find lower rates from a local agent, simply complete this short form.

Auto insurance agents can help

A lot of people just prefer to get professional advice from a licensed agent and that is a smart decision A nice benefit of comparing rates online is the fact that drivers can get cheaper prices and still have a local agent. Buying from local agents is definitely important in Baltimore.

After completing this short form, your insurance data is immediately sent to participating agents in Baltimore who will give competitive quotes for your insurance coverage. There is no need to even leave your home because prices are sent to your email. You’ll get the best rates and work with a local agent. If you need to get a rate quote from a specific company, feel free to find their quoting web page and fill out the quote form the provide.

Is an exclusive or independent auto insurance agent right for you?

If you’re trying to find a reliable insurance agency, it can be helpful to understand the different types of agencies and how they are distinctly different. Agents in Baltimore are either exclusive or independent agents depending on their company appointments.

Independent Auto Insurance Agencies

Independent agencies do not sell for just one brand and that enables them to quote your coverage through lots of different companies and find you the best rates. If they find a cheaper price, your agent can switch companies and you don’t have to do anything. If you are comparing auto insurance prices, it’s recommended you compare prices from independent agents to get the most accurate price comparison. They often place coverage with companies you’ve never heard of that may provide cheaper auto insurance rates.

Below is a small list of independent agents in Baltimore that may be able to give you price quote information.

• Ugele Insurance
  408 E 25th St – Baltimore, MD 21218 – (410) 366-6566 – View Map
• Baltimore Insurance Network
  11 E Lexington St – Baltimore, MD 21202 – (443) 869-6424 – View Map
• Morgan Smith Insurance Agency
  847 W 36th St – Baltimore, MD 21211 – (410) 889-9290 – View Map

View more Baltimore agents

Exclusive Auto Insurance Agencies

These agents generally can only insure with one company such as Allstate and State Farm. Exclusive agents cannot compare other company’s rates so always compare other rates. These agents receive extensive training in insurance sales and that can be a competitive advantage. Consumers sometimes buy from exclusive agents mostly because of the prominent brand name and strong financial ratings.

The following is a short list of exclusive agencies in Baltimore who can help you get price quote information.

• Cyndi Kuhn – State Farm Insurance Agent
  6100 Eastern Ave – Baltimore, MD 21224 – (410) 633-5000 – View Map
• Allstate Insurance: Kent Schwab
  401 Jefferson Ave – Towson, MD 21286 – (410) 433-4700 – View Map
• Valerie Cherry – State Farm Insurance Agent
  6800 York Road – Baltimore, MD 21212 – (410) 435-6600 – View Map

View more Baltimore agents

Choosing the best insurance agency requires you to look at more than just a cheap quote. These are some questions you should get answers to.

• Will you work with the agent or an assistant?
• Will the quote change when the policy is issued?
• Do they get extra compensation for selling add-on coverages?
• How many years have they been established?
• Does the agent help file claims?
• Is coverage determined by price?
• Is there a Errors and Omissions policy in force?

Shop around and save

Throughout this article, we presented many ideas to find cheap Honda Fit insurance in Baltimore. The key concept to understand is the more you quote Baltimore auto insurance, the better your comparison will be. Consumers may even find the best price on car insurance is with an unexpected company.

When getting Baltimore auto insurance quotes online, never reduce coverage to reduce premium. There have been many cases where an insured dropped liability coverage limits to discover at claim time that their decision to reduce coverage ended up costing them more. Your objective should be to purchase a proper amount of coverage for the lowest price but still have enough coverage for asset protection.

Some companies may not have online quoting and most of the time these smaller companies only sell coverage through independent agents. More affordable car insurance in Baltimore can be sourced both online and also from your neighborhood Baltimore agents, and you need to price shop both in order to have the best chance of saving money.

More information can be found at these links:

• Understanding Rental Car Insurance (Insurance Information Institute)
• What Auto Insurance is Cheapest for a Ford Explorer in Baltimore? (FAQ)
• Who Has Cheap Auto Insurance for Teenage Males in Baltimore? (FAQ)
• Who Has Affordable Baltimore Auto Insurance Quotes with Multiple Speeding Tickets? (FAQ)
• Choosing an Insurance Company (Insurance Information Institute)
• Safety Tips for Teen Drivers (Insurance Information Institute)