How Much is Auto Insurance for College Graduates in Baltimore?

For college grads, one of the more important considerations that aid in calculating the price you pay for insurance is the neighborhood you call home. Areas with more people or even just a higher incidence of claims are more likely to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.

The illustration below sorts the priciest cities in Maryland for college graduates to buy auto insurance in. Baltimore shows up at #1 with the yearly price of $1,814 for car insurance, which is about $151 monthly.

How much does auto insurance cost in Baltimore?
Rank City Premium Per Year
1 Baltimore $1,814
2 Woodlawn $1,625
3 Dundalk $1,550
4 Towson $1,527
5 Catonsville $1,460
6 Aspen Hill $1,420
7 Silver Spring $1,417
8 Essex $1,416
9 Bowie $1,390
10 Waldorf $1,389
11 Glen Burnie $1,370
12 Wheaton $1,335
13 Ellicott City $1,283
14 Gaithersburg $1,278
15 Severn $1,275
16 Annapolis $1,268
17 Columbia $1,263
18 Potomac $1,261
19 Bethesda $1,252
20 Rockville $1,251
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Information shown are comparative as the specific zip code location can change prices considerably.

The make and model of vehicle driven is a large consideration when consumers are trying to find low-priced car insurance for college graduates. Vehicles with limited speed and performance, excellent safety ratings, or a low likelihood of having liability claims will cost substantially less to insure than higher performance models. The table below showcases insurance prices for a number of the most affordable automobiles to insure in Maryland.

Cheapest Vehicles to Insure in Baltimore, MD
Vehicle Estimated Cost for Full Coverage
Honda CR-V EX 2WD $2,308
Ford F-150 STX Super Cab 2WD $2,539
Toyota Prius $2,556
Ford Escape XLT 2WD $2,642
Honda Civic DX 4-Dr Sedan $2,680
Chevrolet Malibu LS $2,732
Toyota RAV4 Sport 4WD $2,739
Dodge Grand Caravan Crew $2,787
Ford Focus SEL 4-Dr Sedan $2,825
Honda Odyssey LX $2,908
Kia Optima LX $2,929
GMC Sierra 2500HD SLE Extended Cab 4WD $2,932
Volkswagen Jetta SEL 4-Dr Sedan $2,941
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Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Estimates do not factor in zip code location which can affect auto insurance rates noticeably.

Looking at the data, we can tell that cars like the Honda CR-V, Ford F-150, and Toyota Prius will definitely be the most affordable vehicles to insure for college grads.

Impact of violations and accidents on rates

The ideal way to snag affordable insurance rates in Baltimore for college grads is to drive safely and avoid accidents and violations. The diagram below illustrates how speeding tickets and at-fault fender-benders can increase premium costs for different insured age categories. The premiums are based on a married female driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.

The data in the chart 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 two speeding tickets and the average cost surges to $2,003, an increase of $590 each year. Then include one accident along with the two speeding tickets and the 12-month cost of insurance for college graduates jumps again to an average of $2,599. That’s an increase of $1,186, or $99 per month, just for not being attentive to the road!

The example below shows how choosing a deductible can influence yearly insurance costs when quoting cheap insurance for college graduates. The rates are based on a married male driver, full coverage, and no discounts are applied.

The data above shows that a 50-year-old driver could lower rates by $382 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $576 by choosing a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could roll back prices $1,284 or even more just by choosing higher deductibles.

When raising deductibles, it is a good idea to have enough savings set aside to be able to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

The importance of comparing Baltimore car insurance rates

Baltimore, MD insurance rates are determined by lots of factors that control the cost of having a policy. Improving your credit score, having a teenage driver, or getting a couple of tickets may generate price changes resulting in some companies being more affordable than the competition. Also, companies change premium rates as often as every three months in order to remain profitable. Significantly higher losses can cause more expensive prices, while profitable underwriting can cause cheaper Baltimore car insurance rates.

For example, the bar chart below analyzes the cheapest car insurance in Baltimore, MD for a 45-year-old female driver with a clear driving record, no claims, and a high credit rating. If we compare prices based on her current risk profile, USAA might offer the cheapest car insurance rates in Baltimore at $1,652 annually. This is $93 more than the average rate paid by Maryland drivers of $1,559. Liberty Mutual, Erie, Penn National, and State Auto round out the rest of the best Baltimore, MD auto insurance companies.

Now let’s give the driver from above a chargeable claim, a lower credit rating, and an imperfect driving record. Due to the fact that every insurance company has their own process for filing rates in each state, comparing prices could now result in a slightly different list of the cheapest car insurance companies in Baltimore as shown below.

Nationwide now has the best price on car insurance in Baltimore, MD with MetLife, Travelers, GEICO, and California Casualty also having competitive pricing. This example illustrates why it is critical to spend some time comparing rates to find the most economical insurance quotes for college graduates. Car insurance prices are determined by many things and can increase or decrease at any time, so the most economical company six months ago may now be priced much higher than other options.

If you aren’t sure which coverage to buy and prefer to have some advice when shopping around for cheaper insurance for college grads, the insurance agencies below are willing to help you determine which car insurance company is the best fit. To locate a Baltimore car insurance agency using an interactive map, click the button below the list or click here to compare rates now.

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How to find budget-friendly car insurance for college graduates

Lowering your rates is not difficult, and here are some money-saving suggestions that can help Baltimore drivers quote low-cost car insurance.

The final tip is especially significant, as was noted in the prior information. Rates in Baltimore fluctuate considerably, so drivers shouldn’t be reluctant to change insurance companies if a cheaper rate is available.

Having a favorite company is fine, but it’s not recommended if your bullheadedness ends up costing you a lot of money every month. Take a couple minutes and shop around to find cheaper insurance for college graduates.