What Car Insurance is Cheapest for High School Students in Baltimore?

The type of vehicle that needs insurance is one of the largest considerations when comparing quotes for the most economical car insurance for high school students. Vehicles with high performance engines, poor passenger safety features, or a history of substantial liability claims will cost more to insure than more economical and safe models. The information below presents auto insurance prices for a number of the cheaper vehicles to insure in Maryland.

Cheapest Vehicles to Insure in Baltimore, MD
Make and Model Estimated Cost for Full Coverage
Ford Escape XLT 4WD $10,819
Honda CR-V EX-L 4WD $10,826
Toyota Prius $11,580
Volkswagen Jetta 2.0T Station Wagon $12,236
Honda Odyssey EX W/Rear Entertainment $12,607
Chevrolet Impala LS $12,616
Chevrolet Equinox LS 2WD $12,713
Toyota Tacoma Double Cab 4WD $12,718
Toyota RAV4 Sport 2WD $12,713
Ford Explorer Eddie Bauer 4WD $12,814
Chevrolet Malibu LT $12,822
Dodge Grand Caravan Crew $12,814
Honda Civic LX-S 4-Dr Sedan $13,263
Hyundai Elantra GLS 4-Dr Sedan $13,368
Ford Edge Sport AWD $13,376
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Premium data assumes single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in specific Baltimore, MD garaging location which can change auto insurance rates considerably.

Looking at the data, we can presume that models like the Ford Escape, Honda CR-V, and Toyota Prius are some of the most affordable vehicles to insure for teenagers. The price for car insurance will tend to be more expensive anyway because there is more exposure for high school students, but generally speaking those vehicles will tend to have the lowest insurance prices that you’ll find.

Finding decent, budget car insurance is difficult, and deciding which insurers offer the best insurance rates for high school students will involve additional perseverance. Each company uses their own calculation for setting rates, so let’s begin by taking a look at the lowest cost insurance companies in Baltimore.

It’s a good idea to know that Baltimore, MD insurance rates are calculated based on many things that can increase the price you have to pay. Price variation is why it is critical to shop around with many companies to find the lowest insurance rates for high school students. Insurance rates can be altered by many risk factors and can change without notice, so the most affordable company the last time you compared rates may now be quite expensive.

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What’s the cheapest car insurance in Maryland?
Rank Company Cost Per Year
1 USAA $930
2 Liberty Mutual $1,114
3 Erie $1,115
4 Penn National $1,137
5 State Auto $1,190
6 Amica $1,308
7 MetLife $1,386
8 Nationwide $1,393
9 Travelers $1,426
10 GEICO $1,428
11 California Casualty $1,484
12 Allstate $1,596
13 State Farm $1,646
14 Progressive $2,086
15 Encompass $2,592
16 Victoria $2,963
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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 policy premium paid by Maryland drivers of $1,559. Liberty Mutual, Erie, Penn National, and State Auto would also be considered some of the lowest-priced Baltimore, MD auto insurance companies.

In the rate table above, if you are insured with Penn National and switched to USAA, you might realize yearly savings of around $207. Customers with State Auto could save as much as $260 a year, and Amica insureds might lower prices by $378 a year.

It’s important to note that these prices are averaged across all drivers and vehicles and and are not figured with an exact location for high school students. So the car insurance company that fits your needs best may not even be in the top 16 companies shown above. That is why you need to get auto insurance quotes using your own driver information and specific vehicle type.

Price comparison of only insuring for liability

Finding cheaper insurance is the goal of most vehicle owners, and an easy way to reduce the cost of insurance for high school students is to not pay for full coverage. The information below compares annual premium costs with and without physical damage coverage. The premiums are based on no claims or driving violations, $100 deductibles, marital status is single, and no additional discounts are factored in.

If we average the cost for ages 20 through 70, physical damage coverage on your policy costs an additional $2,323 per year more than just buying liability insurance. That is a significant amount which raises the question if you should buy full coverage at all. There is no exact formula for excluding physical damage insurance, but there is a guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.

For example, let’s say your vehicle’s replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, you would only receive $5,000 after the policy deductible has been paid. If it’s costing in excess of $500 a year for full coverage, then it’s probably a good time to buy liability coverage only.

There are some cases where eliminating full coverage is not a good plan. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.

Impact of citations and accidents on Baltimore insurance rates

The ideal way to receive cheap insurance rates in Maryland for teenagers is to drive safe and have a clean driving record. The information below highlights how speeding tickets and fender-benders can drive up car insurance rates for different insured age categories. The premium estimates are based on a married male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

In the prior example, the average cost of an auto insurance policy in Baltimore per year with no violations or accidents is $2,213. Get written up for one speeding ticket and the average cost increases to $2,536, an increase of $324 each year. Now throw in one accident along with the one speeding ticket and the 12-month cost of insurance for high school students jumps again to an average of $3,461. That’s an increase of $1,248, or $104 per month, just for not being attentive to the road!

The importance of shopping around

Maryland insurance rates are impacted by many factors which can substantially change the price you pay for coverage. Simply turning a year older, buying higher coverage limits, or getting caught speeding may cause policy rate changes that can make some companies more affordable than before.

Not only may your risk profile change, but auto insurance companies modify rates every year or even multiple times each year to ensure their profitability. Heavier than normal losses can cause additional premium costs, while better underwriting can produce lower-priced Baltimore car insurance rates.

To help illustrate this point, the bar chart below shows the companies that have the cheapest car insurance in Baltimore, MD for a 45-year-old female driver with no prior accidents, a clean driving record, and a good credit rating. When quoting prices based on her current rating profile, USAA may have the most affordable car insurance rates in Baltimore at $1,630 annually. This is $71 more than the average price paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto round out the rest of the cheapest Baltimore, MD auto insurance companies.

In the next rate comparison, we’ll give the driver from the above example an at-fault accident, slightly worse credit, and a traffic ticket or two. Since each insurance company uses their own method to establish rates, comparing insurance quotes most likely will result in a significantly different list of affordable companies as shown below.

MetLife now has the cheapest price in Baltimore with Nationwide, Travelers, GEICO, and California Casualty now rounding out the top five. This example illustrates why drivers need to shop around with many companies to find cheap car insurance quotes for high school students. Insurance prices are made up of many different factors and can increase or decrease at any time, so the most economical option the last time you compared rates may now be quite expensive.

The agencies below can probably aid you in deciding which auto insurance policy fits you best, as lots of people like to get some guidance when trying to find lower insurance rates for teenagers. It can be difficult to find the best coverage on your own, so insurance agents can give you satisfaction knowing your coverage gives you enough protection. To locate an agency using an interactive map, click the button after the list or click here to compare rates now.

Baltimore Insurance Network
11 E Lexington StBaltimore, MD 21202(443) 869-6424

Goad Insurance Agency
3229 Erdman AveBaltimore, MD 21213(410) 558-0396

Nationwide Insurance: Luray and Associates Inc
1726 Reisterstown Rd #220Baltimore, MD 21208(410) 602-2636

Aja Green – State Farm Insurance Agent
7635 Belair RdBaltimore, MD 21236(410) 882-9433

Hill Point Insurance LLC
1400 S Charles StBaltimore, MD 21230(410) 779-9272

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