A recent survey discovered that the vast majority of car insurance customers in Maryland have remained with the same car insurance company for four years or more, and nearly 40% of drivers have never quoted car insurance rates at all. American drivers could save an average of as much as 47% each year, but they just don’t understand the big savings they would realize if they replace their high priced policy.
To save the most money, the best way to find low-cost car insurance rates in Baltimore is to start doing a yearly price comparison from companies who can sell car insurance in Maryland. You can compare rates by following these guidelines.
Step 1: Try to learn a little about what coverages are included in your policy and the things you can control to keep rates low. Many rating criteria that cause rate increases like inattentive driving and a poor credit score can be controlled by making minor driving habit or lifestyle changes.
Step 2: Compare prices from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can give quotes from a single company like GEICO and State Farm, while agents who are independent can provide rate quotes from many different companies.
Step 3: Compare the quotes to your existing coverage and see if there is a cheaper rate in Baltimore. If you find a lower rate quote and switch companies, ensure coverage does not lapse between policies.
An important bit of advice to remember is to try to compare similar coverage information on each quote and and to get quotes from as many car insurance companies as possible. This ensures a fair rate comparison and the most accurate and complete price analysis.
Finding a lower price on insurance is pretty simple and can save money. You just need to invest a few minutes to get quotes from online providers.
The auto insurance companies shown below are ready to provide comparison quotes in Baltimore, MD. To get cheaper car insurance in Maryland, it’s highly recommended you visit several of them to get the lowest price.
Auto insurance does more than just repair your car
Even though it’s not necessarily cheap to insure a Honda in Baltimore, auto insurance is mandatory in Maryland but it also protects more than you think.
- Almost all states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability insurance in order to drive the car legally. 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 your Honda Insight has a lienholder, almost all lenders will require you to buy full coverage to guarantee payment of the loan. If coverage lapses or is canceled, the lender will be forced to insure your Honda for a much higher rate and force you to reimburse them a much higher amount than you were paying before.
- Insurance safeguards not only your Honda but also your financial assets. Insurance will pay for medical expenses that are the result of an accident. Liability coverage also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, comprehensive and/or collision insurance will cover the repair costs.
The benefits of buying auto insurance definitely exceed the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer is overpaying over $825 a year so you should quote rates at every renewal to be sure current rates are still competitive.
Auto insurance statistics for a Honda Insight
The data table shown below showcases a range of insurance rates for Honda Insight models. Learning how car insurance premiums are calculated can help you make smart choices when buying a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $262 | $618 | $458 | $28 | $138 | $1,504 | $125 |
| Insight EX | $300 | $728 | $458 | $28 | $138 | $1,652 | $138 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Price estimates do not factor in specific location information which can impact coverage rates greatly.
Honda Insight insurance costs by age and gender
The information below compares Honda Insight insurance prices for male and female drivers. The premiums are based on no violations or accidents, full coverage, $100 deductibles, drivers are single, and no policy discounts are applied.
Honda Insight liability rates compared to full coverage
The illustration below visualizes the comparison of Honda Insight yearly insurance costs with liability coverage only compared to full coverage. The rate quotes are based on no violations or claims, $1,000 deductibles, single status, and no discounts are applied.
Guidelines for dropping full coverage
There is no definitive guideline of when to phase out physical damage coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s say your Honda Insight replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after paying your policy deductible. If it’s costing you more than $800 annually for your policy with full coverage, then you may want to consider only buying liability coverage.
There are a few situations where removing full coverage is not recommended. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.
Save money by applying discounts
Companies that sell car insurance do not advertise all discounts in an easy-to-find place, so we break down a few of the more well known and the more hidden ways to save on auto insurance.
- Distant Student Discount – Children living away from Baltimore attending college and won’t have access to an insured vehicle may qualify for this discount.
- Driver Training Discounts – Successfully completing a course that instructs on driving safety could earn you a small percentage discount and make you a better driver.
- Multi-policy Discount – If you can bundle your homeowners and auto insurance with the same insurance company you could save as much as 10 to 15 percent.
- Military Deployment Discount – Having a deployed family member could mean lower prices.
- Online Discount – Many insurance companies will discount your bill up to fifty bucks just for signing your application on the internet.
- Claim Free – Good drivers with no accidents are rewarded with significantly better rates on Baltimore car insurance quote as compared to policyholders that have many claims.
- Low Mileage Discounts – Driving fewer miles can qualify you for discounted premium rates on garaged vehicles.
- Life Insurance Discount – Select insurance companies reward you with a break if you buy some life insurance too.
One thing to note about discounts is that most discounts do not apply to all coverage premiums. Most only cut the cost of specific coverages such as comp or med pay. Even though the math looks like all those discounts means the company will pay you, it’s just not the way it works.
The chart below illustrates the comparison of Honda Insight auto insurance costs with and without discounts applied to the rates. The premiums assume a male driver, a clean driving record, no at-fault accidents, 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 claim-free, multi-car, marriage, homeowner, safe-driver, and multi-policy discounts applied.
Larger auto insurance companies and their possible discounts include:
- State Farm may have discounts that include accident-free, safe vehicle, defensive driving training, Steer Clear safe driver discount, and good driver.
- GEICO discounts include membership and employees, multi-vehicle, emergency military deployment, federal employee, and good student.
- Liberty Mutual includes discounts for safety features, good student, new vehicle discount, multi-policy, and new graduate.
- The Hartford policyholders can earn discounts including bundle, anti-theft, vehicle fuel type, driver training, air bag, and good student.
- MetLife may offer discounts for good driver, multi-policy, accident-free, claim-free, good student, defensive driver
- Progressive offers discounts for good student, multi-policy, online quote discount, continuous coverage, online signing, homeowner, and multi-vehicle.
If you want affordable Baltimore car insurance quotes, ask every company which discounts they offer. A few discounts may not be available in your state. If you would like to choose from a list of providers that provide some of the discounts listed above in Baltimore, click here to view.
Insurance agents near you
Many people still like to get professional advice from a licensed agent and that is just fine! Licensed agents are very good at helping people manage risk and will help you if you have claims. A good thing about price shopping on the web is the fact that you can find better rates and still have an agent to talk to. Buying insurance from neighborhood insurance agencies is important particularly in Baltimore.
By using this short form, your insurance data is instantly submitted to insurance agents in Baltimore who want to provide quotes for your coverage. You don’t have to contact any insurance agencies since rate quotes are delivered instantly to you. If you need to quote rates from a specific company, you would need to search and find their rate quote page to submit a rate quote request.
Finding a good provider needs to be determined by more than just the quoted price. Any agent in Baltimore should be willing to answer these questions.
- Are there any hidden costs in their price quote and does it include driving and credit history?
- What discounts might you be missing?
- Is the agency active in community causes in Baltimore?
- What is the agency’s Better Business Bureau rating?
- How would your car be valued if totaled?
- Does the agent recommend any additional coverage?
If you get acceptable answers to any questions you may have and a good coverage price, you may have just found an insurance company that meets the requirements to insure your vehicles.
Car insurance companies ranked
Choosing the highest-rated insurance company can be a challenge considering how many companies are available to choose from in Maryland. The ranking data shown below may help you select which auto insurance companies to look at comparing rates from.
Top 10 Baltimore Car Insurance Companies Ranked by Claims Service
- Travelers
- Nationwide
- Allstate
- State Farm
- Liberty Mutual
- GEICO
- American Family
- Esurance
- Titan Insurance
- AAA Insurance
Top 10 Baltimore Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Compare. Compare. Compare.
Budget-friendly insurance in Baltimore is attainable online and from local agencies, so you should be comparing quotes from both to have the best rate selection. Some insurance providers may not offer online rate quotes and usually these regional insurance providers provide coverage only through independent insurance agencies.
In this article, we covered many ideas to shop for Honda Insight insurance online. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. You may even find the lowest priced insurance comes from an unexpected company.
Insureds change insurance companies for a variety of reasons including being labeled a high risk driver, unfair underwriting practices, lack of trust in their agent or not issuing a premium refund. No matter why you want to switch, finding a great new company can be easier than you think.
To learn more, link through to these articles:
- Understanding your Policy (NAIC.org)
- How Much are Auto Insurance Rates for a Chevrolet Silverado in Baltimore? (FAQ)
- Who Has Affordable Car Insurance Rates for a Nissan Sentra in Baltimore? (FAQ)
- Who Has Cheap Baltimore Auto Insurance Quotes for High Risk Drivers? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for Uber Drivers in Baltimore? (FAQ)
- Choosing an Insurance Company (Insurance Information Institute)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)