One of the more important considerations that are looked at to determine car insurance rates is where you choose to live. Larger areas are more likely to have higher rates, whereas areas that tend to be more rural tend to receive slightly lower rates.
The next table sorts the highest-priced places in Maryland for drivers over age 60 to purchase auto insurance in. Baltimore is listed at #1 with a yearly cost of $1,760 on average, which is around $147 monthly.
|Rank||City||Premium Per Year|
|23||Bel Air South||$1,186|
|Compare Rates Now Go|
Premium costs are comparative as specific Baltimore zip code can raise or lower insurance rates significantly.
Comparing rates for cheap auto insurance is challenging, and figuring out which companies quote the most affordable insurance rates for drivers over age 60 will involve even more rate comparisons. Each auto insurance company uses a different method for determining prices, so let’s take a look at the insurance companies that tend to be cheaper in Baltimore.
It’s a good idea to know that Baltimore insurance rates are impacted by many factors that will increase or decrease the price you have to pay. Price variation is why it is crucial to compare many different companies to get affordable car insurance quotes for drivers over age 60. Insurance rates are determined by many things and change frequently, so the best option the last time you checked may now be priced much higher than other options.
Best Auto Insurance Prices for Age 60+
|Rank||Company||Cost Per Year|
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USAA may have some of the most affordable car insurance rates in Baltimore at around $920 per year. This is $639 less than the average price paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto also are some of the more affordable Baltimore, MD insurance companies.
In this example, if you are insured with Erie and switched to Liberty Mutual, you might achieve annual savings of in the vicinity of $47. Drivers with State Auto may save as much as $64 a year, and Amica customers might realize rate reductions of up to $220 a year.
These rates are averaged across all insureds and vehicles and do not factor in a specific vehicle garaging location for drivers over age 60. So the auto insurance company that fits your situation best may not even be in the top 16 companies shown above. That helps illustrate why you need to get car insurance quotes using your own driver information and specific vehicle type.
Discounts on Baltimore car insurance
Auto insurance companies that offer cheap quotes for drivers over age 60 may also give you special discounts that may potentially lower prices by 40% or more if you meet the requirements. Companies and the discounts they provide are:
- Esurance has savings for good student, multi-policy, anti-theft, Pac-12 alumni, and emergency road assistance.
- The Hartford may have discounts that include defensive driver, air bag, vehicle fuel type, bundle, driver training, anti-theft, and good student.
- AAA includes discounts for education and occupation, multi-car, multi-policy, anti-theft, pay-in-full, good student, and AAA membership discount.
- GEICO offers discounts including five-year accident-free, air bags, defensive driver, driver training, seat belt use, good student, and federal employee.
- State Farm policyholders can earn discounts including safe vehicle, passive restraint, Drive Safe & Save, good student, and defensive driving training.
The chart below illustrates the difference between car insurance rates with and without discounts being applied to the rates. The rates are based on a female driver, a clean driving record, no at-fault accidents, Maryland state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with anti-theft, homeowner, defensive driving course, marriage, vehicle safety, and passive restraint discounts applied. When discounts are factored in, the average savings per year on insurance for drivers over age 60 is 29% or $649.
Buying coverage from a good quality auto insurance provider can be rather challenging considering how many different insurance companies sell coverage in Maryland. The company information listed below may help you select which car insurance providers to look at when trying to find the cheapest insurance for drivers over age 60.
These rankings include large insurance companies, so companies with more of a regional focus are not taken into consideration for the list. To check prices from the insurers below and more, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
Violations and accidents raise rates
The ideal way to receive affordable insurance premiums in Maryland for older drivers is to pay attention while driving and avoid at-fault accidents and violations. The chart below shows how traffic citations and at-fault fender-benders raise insurance rates for different ages of insureds. Data assumes a married female driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.
The data charted above shows the average cost of an auto insurance policy in Baltimore per year with no violations or accidents is $1,413. Get written up for one speeding ticket and the average cost jumps to $1,649, an increase of $236 each year. Next add one accident along with the one speeding ticket and the annual cost of insurance for drivers over age 60 goes up to an average of $2,306. That’s an increase of $893, or $74 per month, just for not driving carefully!
Why are you paying too much for car insurance?
Maryland insurance rates are influenced by many factors which can substantially change the price of your policy. Simply improving your credit, increasing deductibles, or getting into an accident can produce rate changes resulting in some rates now being cheaper than others.
Not only that, but car insurance companies file new Maryland auto insurance rates as often as every three months in order to be able to pay unexpected claims. A period of higher than normal claims can cause more expensive premiums, while a profitable period may result in lower-priced Baltimore car insurance rates.
To illustrate this point, the bar chart below shows rates for the cheapest car insurance in Baltimore, MD for a 40-year-old female driver with no prior accidents, a clean driving record, and good financial standing. If we look at prices based on her personal risk profile, USAA might offer the most affordable car insurance rates in Baltimore at $1,653 a year. This is $94 more than the average policy premium paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto are the remaining top five cheapest Baltimore, MD auto insurance companies.
Now we will give the driver in the first chart a claim or two, a lower credit score, and a traffic citation. Since each auto insurance company has a proprietary method for determining rates, analyzing rates may result in a completely different list of companies as shown below.
MetLife now has the lowest car insurance rate in Baltimore, MD with Nationwide, Travelers, GEICO, and California Casualty also being competitive. This example illustrates why drivers need to perform an extensive rate comparison to get affordable insurance quotes for drivers over age 60. Car insurance prices are impacted by many risk factors and can change substantially, so the cheapest option the last time you shopped around may now be an over-priced policy.
The Baltimore car insurance agencies listed below can probably help you determine which insurance coverage will be best for you, as some people have coverage questions and would like to get some professional input when buying car insurance for older drivers. It can be hard to find the best coverage yourself, and getting advice from a licensed agent can provide peace of mind knowing your coverage gives you adequate protection in case of an accident or claim. To find a Baltimore insurance agency using an interactive map, click the button after the list.
- Allstate Insurance: Shanda Hayden
7200 Eastern Ave a – Baltimore, MD 21224 – (410) 282-7863
- Bob Duda – State Farm Insurance Agent
7939 Honeygo Blvd #105 – Baltimore, MD 21236 – (410) 529-2523
- Nationwide Insurance: Bruce Cohee Agency Inc
502 Baltimore Ave – Towson, MD 21204 – (410) 823-8777
- Cyndi Kuhn – State Farm Insurance Agent
6100 Eastern Ave – Baltimore, MD 21224 – (410) 633-5000