The words “affordable” and “insurance” really don’t belong together, especially when searching for the best price on coverage for 17 year olds. Let’s lead off by showing you some situations that significantly impact insurance premiums, and see if we can help you slash the price of the next policy you buy.
The make and model of vehicle requiring insurance is one of the main factors when comparing the best cheap auto insurance for 17 year olds. Vehicles with average performance, modern passenger safety features, or a positive history of liability claims will cost quite a bit less to insure than higher performance models.
The list below illustrates insurance costs for a number of the cheapest vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$9,643|
|Honda Accord LX 4-Dr Sedan||$9,649|
|Hyundai Elantra GLS Touring Station Wagon||$9,643|
|Ford Escape XLT 4WD||$9,744|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$10,713|
|Dodge Grand Caravan SE||$10,814|
|Ford F-150 XLT Super Cab 2WD||$10,824|
|Toyota Tacoma 4WD||$10,814|
|Chevrolet Impala LS||$11,344|
|Ford Edge SEL AWD||$11,349|
|Honda Odyssey EX||$11,344|
|Chevrolet Malibu LS||$11,445|
|Volkswagen Jetta LE 4-Dr Sedan||$11,454|
|Toyota RAV4 2WD||$11,445|
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Price data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, and safe-driver. Price information does not factor in the specific area where the vehicle is garaged which can change coverage rates significantly.
Based upon these rates, we can infer that cars like the Honda CR-V, Honda Accord, and Hyundai Elantra are most likely to be some of the less-costly vehicles to insure for teen drivers. Rates will tend to be more expensive anyway just because there is a higher risk for 17 year olds, but in general those particular models will most likely have the cheapest rates compared to other types of vehicles.
Trying to find low-priced insurance is not most people’s favorite thing to do, and finding out which companies have the lowest-priced auto insurance rates for 17 year olds will involve even more shopping around. Each insurance company has their own formula to set their prices, so to begin we’ll rank the auto insurance companies that tend to have lower prices in Baltimore.
It’s a good idea to be aware that Baltimore, MD auto insurance rates are impacted by many things which can substantially change your annual premium. This is why Baltimore drivers need to compare many different companies to get the best insurance quotes for 17 year olds. Auto insurance prices are made up of many factors and change frequently, so the best price the last time you shopped your coverage around may now be quite expensive.
Best Auto Insurance Prices for Teens
|Rank||Company||Cost Per Year|
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USAA has some of the best car insurance rates in Baltimore at around $930 per year. This is $629 less than the average rate paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto also rank well as some of the lowest-priced Baltimore, MD insurance companies.
In the rate table above, if you currently have coverage with Erie and switched to Liberty Mutual, you could earn annual savings of in the neighborhood of $24. Policyholders with State Auto could save as much as $89 a year, and Amica insureds might realize rate reductions of up to $170 a year.
Understand that those policy rates are averaged across all types of drivers and the different vehicles they drive and do not factor in a specific location for 17 year olds. So the car insurance company that fits you best may not even be in the top 16 companies shown above. That emphasizes why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
Drive safe and save
In a perfect world, the ideal way to score cheap auto insurance premiums in Maryland for teen drivers is to be a good driver and not have accidents or get tickets. The example below illustrates how speeding tickets and at-fault collisions raise insurance rates for different categories of driver ages. The premiums are based on a single female driver, comp and collision included, $100 deductibles, and no additional discounts are factored in.
In the chart above, the average cost of auto insurance in Maryland per year with a clean driving record and no accidents is $2,203. Get one speeding ticket and the average cost swells to $2,496, an increase of $293 each year. Now get two accidents along with the one speeding ticket and the annual cost of auto insurance for 17 year olds goes up to an average of $4,959. That’s an increase of $2,756, or $230 per month, just for not driving attentively!
Rate difference between full and liability-only coverage
Buying cheaper auto insurance is important to most drivers, and one easy way to buy cheaper insurance for 17 year olds is to not pay for full coverage. The chart below visualizes the comparison of annual premium costs with and without physical damage coverage. The premiums are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are taken into consideration.
If we average all the age groups together, comp and collision coverage costs $1,702 per year over and above liability coverage. That brings up the question if it’s worth it to buy full coverage. There is no set rule that works best for making the decision to drop physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s assume your vehicle’s book value is $8,500 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $7,500 after the policy deductible has been paid. If you are paying over $750 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.
Here’s why price comparisons are so important
Baltimore, MD auto insurance rates are influenced by many factors that may substantially change the price of your policy. Getting older, buying a home, or getting a DUI may generate price changes that may make certain companies more affordable than others.
Not only may your situation change, but companies amend premium rates multiple times each year to help ensure profitability. Higher than normal claims may cause rate increases, while a better loss history can result in lower-cost Baltimore car insurance rates.
For example, the chart below compares the cheapest car insurance in Baltimore, MD for a 30-year-old female driver with no prior claims, no tickets, and excellent credit. If we compare prices based on her current risk profile, USAA offers the most affordable car insurance rates in Baltimore at $1,620 a year. This is $61 more than the average premium paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto also make the list of the top five cheapest Baltimore, MD auto insurance companies.
The next chart shows rates after we give the driver in the first example an accident claim, less-than-perfect credit, and a few traffic violations. Since each company uses their own method for determining rates, comparing quotes may now present a substantially altered list of affordable Baltimore car insurance companies as shown below.
MetLife now has the cheapest price in Baltimore, MD with Travelers, Nationwide, California Casualty, and GEICO now being in the top five. This illustrates why drivers need to compare many different companies to find the most affordable auto insurance quotes for 17 year olds. Car insurance prices can be determined by many different factors and can decrease or increase without notice, so the most economical company six months ago may now be priced much higher than other options.
Tips to find economical car insurance for 17 year olds
Here are some of the recommended thrifty suggestions that can help drivers locate cheap auto insurance.
- Avoid having at-fault accidents
- Don’t have frequent claims
- Better credit scores save money
- Safe vehicles generally have lower rates
- Just one traffic violation will increase your rates
- Compare prices as often as possible
The last idea is very crucial, as was emphasized in this piece. Rates in Baltimore fluctuate constantly, so drivers shouldn’t be reluctant to switch companies if a better deal can be had.
Brand loyalty is great, but it’s not a great idea if that faithfulness ends up costing you thousands of dollars over several years. In just a couple of minutes you could shop around to find cheaper car insurance for 17 year olds.
The professional agents shown below can help you decide which coverages you need, since some drivers aren’t sure which coverage they need and prefer to get some professional advice when comparing insurance rates for 17 year olds. It can be difficult to find coverage yourself, and a licensed agent can give comfort knowing your policy gives you sufficient protection if you have a claim.
To find a Baltimore insurance agent in your neighborhood, click the button after the list.
- David Rosario – State Farm Insurance Agent
3121 Eastern Ave – Baltimore, MD 21224 – (410) 850-4949
- Joe Lawton – State Farm Insurance Agent
9008 Harford Rd – Baltimore, MD 21234 – (410) 665-0243
- Bob Duda – State Farm Insurance Agent
7939 Honeygo Blvd #105 – Baltimore, MD 21236 – (410) 529-2523
- Allstate Insurance: Shanda Hayden
7200 Eastern Ave a – Baltimore, MD 21224 – (410) 282-7863