The easiest way to get discount car insurance rates in Baltimore is to compare prices annually from insurers who provide auto insurance in Maryland. Rates can be compared by following these guidelines.
- Read and learn about coverages and the factors you can control to keep rates low. Many policy risk factors that result in higher rates like speeding tickets, careless driving and a negative credit history can be rectified by making small lifestyle or driving habit changes.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can give quotes from one company like Progressive and State Farm, while independent agencies can quote prices from many different companies.
- Compare the quotes to your existing policy to determine if switching companies saves money. If you find better rates and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
The key thing to remember is to try to compare identical coverages on every quote request and and to get price estimates from as many different companies as possible. This provides an apples-to-apples comparison and the best price selection.
Unthinkable but true, the vast majority of consumers renewed their policy with the same company for over three years, and almost half have never compared insurance rates at all. Maryland drivers could save an average of $800 each year, but they just don’t understand the actual amount they would save if they changed companies.
Companies offering Cadillac CTS-V insurance in Maryland
The companies shown below provide free rate quotes in Baltimore, MD. To find cheaper car insurance in Baltimore, it’s a good idea that you visit several of them in order to get a fair rate comparison.
Coverage statistics and figures
The premium table displayed below showcases estimates of prices for Cadillac CTS-V models. Understanding how rate quotes are determined helps drivers make smart policy decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Table data does not factor in specific location which can lower or raise premium rates considerably.
Impact of age and gender on auto insurance rates
The chart below shows the comparison of Cadillac CTS-V premium costs for male and female drivers. Data assumes no accidents or driving violations, full coverage, $500 deductibles, drivers are single, and no discounts are applied.
Full coverage versus liability-only
The chart below shows the comparison of Cadillac CTS-V auto insurance rates with liability coverage only compared to full coverage. The data is based on no tickets, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are applied.
Are you wasting money on full coverage?
There is no written rule to drop full coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s assume your Cadillac CTS-V replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after the policy deductible has been paid. If premium cost is more than $500 annually for full coverage, the it may be a good time to stop paying for full coverage.
There are some situations where dropping full coverage is not recommended. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not buy liability only.
Determine discounts on Baltimore auto insurance
Buying auto insurance is not cheap, but companies offer discounts that can help lower your rates. Most are applied at the time of purchase, but a few need to be requested specifically prior to receiving the credit. If you check and find you aren’t receiving every discount possible, you could be getting lower rates.
- Renewal Discounts – Some larger companies provide a discount for switching companies prior to your current CTS-V insurance policy expiration. It could save around 10% when you buy Baltimore auto insurance online.
- Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices are stolen less frequently and that can save you a little bit as well.
- Defensive Driving Course – Participating in a course teaching defensive driving skills may get you a small discount if you qualify.
- Driving Data Discount – People who choose to allow their company to spy on driving manner by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system may get a rate reduction if they show good driving skills.
- Good Grades Discount – Excelling in school can save 20 to 25%. This discount can apply up to age 25.
Remember that many deductions do not apply to the entire policy premium. Most only apply to the price of certain insurance coverages like comprehensive or collision. So even though it sounds like you would end up receiving a 100% discount, that’s just not realistic.
The example below shows the difference between Cadillac CTS-V insurance premiums with and without discounts applied to the policy rates. The price estimates are based on a female driver, no claims, a clean driving record, Maryland state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, multi-policy, safe-driver, and homeowner discounts applied.
The best auto insurance companies and some of the premium reductions they offer are:
- State Farm offers premium reductions for multiple policy, defensive driving training, safe vehicle, Steer Clear safe driver discount, and multiple autos.
- Liberty Mutual offers discounts including newly married, multi-car, teen driver discount, newly retired, and good student.
- American Family may include discounts for TimeAway discount, good student, multi-vehicle, Steer into Savings, bundled insurance, and good driver.
- Progressive has discounts for online signing, multi-policy, good student, homeowner, multi-vehicle, continuous coverage, and online quote discount.
- Farmers Insurance policyholders can earn discounts including youthful driver, business and professional, mature driver, switch companies, and alternative fuel.
- Auto-Owners Insurance offers discounts for paid in full, multi-policy, multiple vehicles, air bags, and safe driver.
- SAFECO includes discounts for bundle discounts, multi-car, homeowner, anti-lock brakes, safe driver, and drive less.
Before buying, ask all the companies which discounts you qualify for. Discounts may not apply to policies in Baltimore. To see insurance companies with discount rates in Baltimore, click here.
Save Money with These Tips
One of the most helpful ways to save on auto insurance is to to have a grasp of some of the factors that play a part in calculating the price you pay for auto insurance. When you understand what determines base rates, this allows you to make good choices that can earn you much lower annual insurance costs.
Listed below are some of the most rate-impacting factors used by your company to calculate your rates.
- Raise deductibles and save – The deductibles you choose define the amount the insured will be required to pay before a claim is paid by your company. Physical damage coverage, also called comprehensive and collision insurance, is used to repair damage to your car. Some examples of covered claims would be colliding with a stationary object, collision with a deer, or theft of your vehicle. The more damage repair cost you pay before a claim is paid (deductible), the better rate you will receive.
- Less chance of injury means lower rates – Safe vehicles cost less to insure. These vehicles have better occupant injury protection and any reduction in injury severity translates into savings for insurance companies which can mean better rates for you. If the Cadillac CTS-V has at least an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.
- No auto insurance policy gaps is important – Having a gap between insurance policy dates is a guaranteed way to increase your rates. And not only will insurance be more expensive, getting caught without coverage could earn you a hefty fine and possibly a revoked license. You could then be forced to provide proof of insurance in the form of an SR-22 filing with the Maryland DMV.
Teen drivers pay high costs – More mature drivers are more cautious drivers, cost insurance companies less in claims, and are safer drivers. Young drivers are proven to be more careless behind the wheel so auto insurance rates are higher.
The next chart assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Your liability insurance limits – The liability section of your policy is the coverage that protects you if a jury decides you are liable for causing damage or personal injury in an accident. Liability insurance provides legal defense which can cost a lot. Liability is cheap compared to other policy coverages, so insureds should have plenty of protection for their assets.
- Save money with responsible credit – Having a good credit score factor in determining premium rates. So if your credit history is low, you could potentially save money when insuring your Cadillac CTS-V by repairing your credit. Drivers with excellent credit scores tend to file fewer claims than drivers who have lower credit ratings.
Traffic violations will cost you – How you drive has a big impact on rates. Good drivers have lower premiums compared to drivers with tickets. Having just one ticket can bump up the cost substantially. People who have license-revoking violations such as hit and run, DWI or reckless driving convictions may need to complete a SR-22 with their state’s department of motor vehicles in order to legally drive a vehicle.
The illustration below demonstrates how traffic citations and at-fault fender-benders can drive up Cadillac CTS-V auto insurance costs for different ages of insureds. The information is based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
Cadillac CTS-V insurance loss probability – Insurers use data from past claims to help calculate premium prices. Models that the statistics show to have a trend towards higher claim severity or frequency will have higher premium rates. The information below illustrates the actual insurance loss data for Cadillac CTS-V vehicles.
For each type of coverage, the loss probability for all vehicles compiled together equals 100. Values below 100 mean the vehicle has better than average losses, while values that are 100 or greater show a trend for more claims or a tendency for losses to be larger than average.
Car Insurance Loss Data for Cadillac CTS-V Models Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Cadillac CTS-V 2dr 174 74 135BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
How to know if you need help
When selecting adequate coverage for your personal vehicles, there really is not a perfect coverage plan. Your needs are not the same as everyone else’s.
Here are some questions about coverages that could help you determine if your situation may require specific advice.
- What is covered by UM/UIM coverage?
- Is a new car covered when I drive it off the dealer lot?
- What is medical payments coverage?
- Do I have coverage for damage caused while driving under the influence?
- Can I get by with minimal medical coverage if I have good health insurance?
- What are the best liability limits?
- Is there coverage for injuries to my pets?
- What if I total my Cadillac CTS-V and owe more than it’s worth?
- Can I afford to pay high deductible claims out of pocket?
If it’s difficult to answer those questions but a few of them apply, you may need to chat with an insurance agent. If you don’t have a local agent, take a second and complete this form.
Do I need an insurance agency?
Many people just want to get advice from a local agent. One of the benefits of getting online price quotes is that you can find cheap insurance rates and still choose a local agent.
After completing this form (opens in new window), your coverage information is sent to participating agents in Baltimore who will give you quotes for your business. There is no need to find an agent because quoted prices will be sent immediately to your email address. You can find the lowest rates and a licensed agent to work with. If for some reason you want to compare rates from a particular provider, feel free to jump over to their website to submit a rate quote request.
Selecting an insurance company requires more thought than just the bottom line cost. Any good agent in Baltimore should know the answers to these questions.
- Is every driver in your family covered?
- How many years have they been established?
- Does the agent recommend any additional coverage?
- How will an accident affect your rates?
- Is there a Errors and Omissions policy in force?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Has the agent ever had any license suspensions?
- Do the companies they represent have a solid financial rating?
The following is a list of insurance companies in Baltimore that may be willing to give price quote information for Cadillac CTS-V insurance in Baltimore.
Be persistent to save money
Insureds leave their current company for a number of reasons such as an unsatisfactory settlement offer, policy cancellation, delays in responding to claim requests or delays in paying claims. Whatever your reason, choosing a new company can be less work than you think.
When searching for the cheapest Cadillac CTS-V rate quotes, do not skimp on critical coverages to save a buck or two. There are a lot of situations where an insured cut physical damage coverage only to find out that it was a big mistake. Your focus should be to purchase a proper amount of coverage at the lowest possible cost while still protecting your assets.
Cheaper auto insurance in Baltimore is possible on the web and with local Baltimore insurance agents, and you need to price shop both to have the best chance of lowering rates. Some companies may not provide rates over the internet and many times these regional insurance providers sell through independent agencies.
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