The words “low-cost” and “auto insurance” really shouldn’t be used in the same sentence, specifically when you are looking for the lowest insurance rates for used cars. To save some money, let’s start off by going over a few of the factors that significantly impact auto insurance premiums, and figure out some ways to reduce the price of your next policy.
The make and model of vehicle you are insuring is one of the largest factors when consumers are trying to find cheaper coverage for used cars. Vehicles with lower performance, a great safety record, or low incidents of liability claims will cost significantly less to insure than fast, unsafe models.
The next list presents auto insurance prices for a selection of the cheaper vehicles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,404|
|Honda Accord LX 4-Dr Sedan||$2,752|
|Honda CR-V LX 4WD||$2,758|
|Jeep Wrangler Sport 4WD 2-Dr||$2,854|
|Hyundai Elantra SE Touring Station Wagon||$2,984|
|Toyota Corolla LE||$2,991|
|Toyota Camry XLE||$3,001|
|Nissan Altima 3.5 SR 4-Dr Sedan||$3,044|
|GMC Sierra SLT Extended Cab 4WD||$3,052|
|Ford Focus SE 2-Dr Coupe||$3,195|
|Volkswagen Jetta S 2.5 Station Wagon||$3,202|
|Toyota Camry Hybrid||$3,248|
|Toyota RAV4 4WD||$3,259|
|Jeep Grand Cherokee Laredo 2WD||$3,265|
|Chevrolet Malibu LS||$3,259|
|Ford Explorer Eddie Bauer 2WD||$3,301|
|Dodge Grand Caravan CV||$3,309|
|Toyota Tacoma Double Cab 4WD||$3,319|
|Honda Civic LX-S 4-Dr Sedan||$3,368|
|Honda Odyssey EX-L||$3,431|
|Ford Edge Limited AWD||$3,436|
|Ford F-250 XL Crew Cab Turbo Diesel 2WD||$3,452|
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Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Rate quotes do not factor in Baltimore, MD location which can affect insurance rates considerably.
By looking at the data, you can see that makes and models like the Ford Escape, Honda Accord, Honda CR-V, Jeep Wrangler, and Hyundai Elantra should be some of the cheaper vehicles to insure for pre-owned vehicles.
Figuring out which insurers offer the lowest-priced auto insurance rates for used cars requires a little more sweat in order to find the best price. Each auto insurance company uses their own formula for setting prices, so we’ll take a look at the most affordable auto insurance companies in Baltimore.
It’s important to understand that Maryland auto insurance rates are determined by lots of factors that control the price of coverage. Simply improving your credit, moving to a new city, or getting a few speeding tickets can produce rate changes resulting in some rates now being affordable when they were higher priced.
Cheapest Insurance Rates for Used Cars
|Rank||Company||Cost Per Year|
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USAA quotes some of the most affordable car insurance rates in Baltimore at around $930 per year. Liberty Mutual, Penn National, Erie, and State Auto would also make the list of some of the cheaper Baltimore, MD auto insurance companies.
In this example, if you have coverage with Erie and switched to Liberty Mutual, you might see a yearly price reduction of approximately $57. Policyholders with State Auto may save as much as $122 a year, and Amica policyholders might reduce rates by $203 a year.
If you would like to find cheaper car insurance rates, click here to get quotes or click through to the companies below.
Understand that those rates are averages for all types of insureds and vehicles and and are not figured with a specific vehicle garaging location for used cars. So the insurer that has the cheapest rates for you may not even be in the top 16 companies in the list above. That affirms the importance of why you need to get auto insurance quotes using your own driver data and vehicle information.
One of the more important factors that are looked at to determine insurance cost is where you live in Baltimore. Cities with larger populations or higher claim trends will most likely pay more, whereas areas with less congestion have the benefit of cheaper auto insurance prices.
The next table sorts the priciest cities in Maryland for used cars to buy car insurance in. Baltimore makes the list at #1 with the annual price of $1,760 for car insurance, which is approximately $147 monthly.
|23||Bel Air South||$1,186|
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Information shown are comparative as zip code location can lower or raise insurance rates considerably.
Maryland auto insurance companies ranked
Choosing the best insurer can be rather challenging considering how many companies are available to choose from in Maryland. The information displayed below can help you decide which auto insurance companies you want to consider to insure your vehicles. The ratings below only include companies who write in the majority of U.S. states, so companies that have a smaller presence are not included in these rankings.
Top 10 Large Car Insurance Companies Overall in Baltimore
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
- American Family
Illustration showing the impact of accidents and violations
In a perfect world, the ideal way to snag the cheapest auto insurance prices in Baltimore for pre-owned vehicles is to drive safe and maintain a clean driving record. The example below shows how speeding tickets and at-fault collisions can influence auto insurance rates for each different age category. The data is based on a married male driver, full coverage, $250 deductibles, and no other discounts are factored in.
In the previous example, the average cost of a car insurance policy per year with no accidents or violations is $1,819. Get two speeding tickets and the average cost surges to $2,509, an increase of $690 each year. Then add one accident along with the two speeding tickets and the 12-month cost of auto insurance for used cars increases to an average of $3,200. That’s an increase of $1,381, or $115 per month, just for not driving responsibly!
Who has the cheapest Baltimore car insurance?
Maryland auto insurance rates are impacted by many things which can substantially change the price you pay for coverage. Simply turning a year older, buying another vehicle, or having a fender bender can produce rate changes resulting in some rates now being cheaper than others.
In addition, insurance companies modify pricing as often as every three months to adjust for unexpected claims or profits. Higher than normal claim frequency or severity can result in more expensive prices, while a profitable period may produce cheaper Baltimore car insurance rates.
To help illustrate this point, the chart below analyzes the cheapest car insurance in Baltimore, MD for a 40-year-old female driver with a good driving record, no prior claims, and a high credit rating. If we estimate rates based on her personal risk profile, USAA might quote the cheapest car insurance rates in Baltimore at $1,669 annually. This is $110 more than the average policy premium paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto are also on the list of the cheapest Baltimore, MD auto insurance companies.
Now let’s give the driver from the first set of rates a claim surcharge, less-than-perfect credit, and an imperfect driving record. Due to the fact that each insurance company has their own guidelines for determining rates in each state, comparing rates may now present a different list of the cheapest car insurance companies in Baltimore as shown below.
Nationwide now has the cheapest insurance rate in Baltimore with MetLife, GEICO, Travelers, and California Casualty also having competitive pricing. This illustrates why consumers need to take the time to shop around with many companies to get the best insurance quotes for used cars.
Auto insurance prices are made up of many things and change substantially, so the best company when you bought your policy may now be quite expensive.
If you would rather have professional advice when trying to find the best insurance rates for used cars, the insurance agencies listed below are a good start to help you determine which auto insurance coverages would be the best in your situation. To find an agent closest to you, click the button after the list.
Rosasco and Yetter Insurance Agency
8831 Satyr Hill Rd #302 – Baltimore, MD 21234 – (410) 661-1440
Allstate Insurance Agency: Abernathy Michael
7696 Belair Rd – Baltimore, MD 21236 – (410) 426-5500
Lambert Insurance Inc
1826 Woodlawn Dr # 6 – Baltimore, MD 21207 – (410) 265-7850
Allstate Insurance: John Fisher
7839 Eastpoint Mall Ste 4 – Baltimore, MD 21224 – (410) 285-8200