Save on Jeep Grand Cherokee Insurance in Baltimore

It’s easy to assume that auto insurance companies don’t want you to look for cheaper rates. Insureds who shop for lower rates will, in all likelihood, switch car insurance companies because there is a good chance of finding better rates. A recent survey found that people who did price comparisons regularly saved approximately $3,400 over four years compared to drivers who never shopped around for lower prices.

If finding budget-friendly Jeep Grand Cherokee insurance is the reason for your visit, then learning a little about how to get price quotes and compare coverages can help simplify the task of finding more affordable coverage.

Insurance quote for Jeep Grand Cherokee in BaltimoreIt takes a little time, but the best way to get cheaper auto insurance rates in Baltimore is to make a habit of regularly comparing prices from companies in Maryland.

  1. It will benefit you to learn about how insurance works and the factors you can control to prevent expensive coverage. Many policy risk factors that increase rates such as tickets, at-fault accidents, and poor credit history can be amended by making lifestyle changes or driving safer. Later in this article we will cover more information to find cheap prices and get bigger discounts that may have been overlooked.
  2. Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from one company like GEICO and State Farm, while independent agents can provide price quotes from many different companies.
  3. Compare the new quotes to your existing policy and see if there is a cheaper rate in Baltimore. If you find a lower rate quote and buy the policy, make sure coverage is continuous and does not lapse.

The key thing to know about shopping around is to try to use identical coverages on every quote request and and to get rate quotes from as many carriers as you can. Doing this enables the most accurate price comparison and a thorough price selection.

Locating the best rates in Baltimore is really quite simple as long as you have a good starting point. Essentially every driver who has to purchase car insurance will be able to lower their premiums. But Maryland vehicle owners can benefit by having an understanding of how big insurance companies sell online and use this information to your advantage.

How to Lower Your Insurance Rates

Many factors are part of the calculation when you get a price on insurance. Some factors are common sense like your driving record, but some are less apparent like your continuous coverage or how financially stable you are. When buying auto insurance it’s important to understand the different types of things that aid in calculating your policy premiums. If you have a feel for what impacts premium levels, this empowers consumers to make smart changes that may reward you with much lower annual insurance costs.

The itemized list below are some of the most common factors auto insurance companies consider when setting prices.

Men tend to take more risk – Over the last 50 years, statistics have shown that females take fewer risks when driving. It does not mean women are better drivers. Women and men are in at-fault accidents in similar percentages, but males get into accidents with more damage. Not only that, but men also receive more costly citations like DWI (DUI) or reckless driving.

The example below visualizes the comparison of Jeep Grand Cherokee car insurance rates for male and female drivers. The data is based on no tickets, no at-fault accidents, full coverage, $500 deductibles, single status, and no discounts are factored in.

Urban areas may pay more – Being located in less populated areas of the country can save you money when buying auto insurance. Fewer people means reduced accidents in addition to fewer liability claims. People who live in big cities tend to have traffic congestion and more time behind the wheel. The longer drive time means more chances of being involved in an auto accident.

Auto insurance rates and age – Inexperience drivers tend to be inattentive and easily distracted in a vehicle so they pay higher auto insurance rates. If you’ve ever had to add a first-time driver onto a policy can cause a big jump in price. Older insureds have been proven to be more responsible, statistically cause fewer accidents, and are generally more financially stable.

The chart below uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.

Why do you need liability protection? – Liability coverage kicks in if ever you are found to be at fault for damages from an accident. It will provide for a legal defense to defend your case. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so drivers should make sure they buy enough to cover all assets.

Do you really need roadside assistance? – Insurance policies have a lot of extra coverages that can waste your money if you aren’t diligent. Coverages for vanishing deductibles, accidental death, and extra life insurance coverage may be wasting your money. The coverages may be enticing when discussing your needs, but if you have no use for them get rid of them and save.

Loss probability for a Jeep Grand Cherokee – Insurers analyze claim trends for every vehicle when they calculate premium rates for each model. Models that tend to have higher frequency or amount of claims will have higher premium rates. The next table illustrates the insurance loss data used by companies for Jeep Grand Cherokee vehicles.

For each coverage category, the claim probability for all vehicles, regardless of manufacturer or model, is set at 100. Values that are 100 or less indicate a favorable loss history, while percentage values above 100 point to more claims or larger claims.

Auto Insurance Loss Data for Jeep Grand Cherokee Models
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Jeep Grand Cherokee 4dr 2WD 81 111 71 62 60 94
Jeep Grand Cherokee 4dr 4WD 91 112 98 67 63 89

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Jeep Grand Cherokee insurance charts and tables

The price information displayed below highlights different insurance prices for Jeep Grand Cherokee models. Understanding how insurance prices are figured can assist in making smart buying decisions.

Jeep Grand Cherokee Insurance Rates in Baltimore, MD
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Grand Cherokee Laredo 2WD $166 $342 $458 $28 $138 $1,132 $94
Grand Cherokee Laredo 4WD $166 $342 $458 $28 $138 $1,132 $94
Grand Cherokee Limited 2WD $188 $404 $458 $28 $138 $1,216 $101
Grand Cherokee Limited 4WD $188 $404 $458 $28 $138 $1,216 $101
Grand Cherokee SRT-8 4WD $188 $404 $458 $28 $138 $1,216 $101
Get Your Own Custom Quote Go

Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Rates do not factor in specific location information which can affect prices significantly.

Where to set your deductibles

The hardest decision when buying coverage is how high should the physical damage coverage deductibles be. The rates shown below may aid in understanding the costs and benefits when you choose different insurance deductibles. The first pricing table uses a $100 comprehensive and collision deductible and the second price grid uses a $500 deductible.

Jeep Grand Cherokee insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Grand Cherokee Laredo 2WD $350 $632 $406 $24 $122 $1,559 $130
Grand Cherokee Laredo 4WD $350 $632 $406 $24 $122 $1,559 $130
Grand Cherokee Limited 2WD $394 $744 $406 $24 $122 $1,715 $143
Grand Cherokee Limited 4WD $394 $744 $406 $24 $122 $1,715 $143
Grand Cherokee SRT-8 4WD $394 $744 $406 $24 $122 $1,715 $143
Get Your Own Custom Quote Go

Jeep Grand Cherokee insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Grand Cherokee Laredo 2WD $256 $426 $406 $24 $122 $1,234 $103
Grand Cherokee Laredo 4WD $256 $426 $406 $24 $122 $1,234 $103
Grand Cherokee Limited 2WD $288 $502 $406 $24 $122 $1,342 $112
Grand Cherokee Limited 4WD $288 $502 $406 $24 $122 $1,342 $112
Grand Cherokee SRT-8 4WD $288 $502 $406 $24 $122 $1,342 $112
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Price estimates do not factor in zip code location which can modify auto insurance rates significantly.

Based on the figures above, using a $100 deductible costs about $30 more each month or $360 for a full year than quoting the higher $500 deductible. Since you would pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at a minimum 13 months between claim filings, you would more than likely save some money going with the higher deductible. The illustration below shows an example of how you can do this calculation yourself.

Average monthly premium for $100 deductibles: $138
Average monthly premium for $500 deductibles (subtract): – $108
Monthly savings from raising deductible: $30
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $30
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One important caveat is that higher deductibles means you pay more out-of-pocket when you have a claim. You need to make sure you have some savings in the event you need to pay the deductible.

Responsible drivers pay cheaper Baltimore auto insurance rates

The information below shows how speeding tickets and at-fault fender-benders increase Jeep Grand Cherokee insurance prices for different categories of driver ages. The rate quotes are based on a single female driver, full coverage, $500 deductibles, and no other discounts are factored in.

Difference between full coverage and liability only rates

The illustration below compares Jeep Grand Cherokee auto insurance costs when comparing full coverage to state minimum liability only. The information is based on no claims or violations, $250 deductibles, single marital status, and no other discounts are factored in.

Are you wasting money on full coverage?

There is no set guideline to stop paying for physical damage insurance, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s assume your Jeep Grand Cherokee book value is $6,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $5,000 after you pay the deductible. If it’s costing you more than $500 a year for physical damage coverage, then it may be the right time to buy liability only.

There are some situations where removing full coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage as part of the loan requirements. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not eliminate full coverage.

These discounts can lower your insurance quotes

Some insurance providers don’t always advertise every possible discount very clearly, so the list below details a few of the more well known as well as the least known discounts that may be available. If you don’t get every credit you deserve, you are not getting the best rate possible.Save money with discounts

Just know that many deductions do not apply to the overall cost of the policy. Some only reduce individual premiums such as comprehensive or collision. So despite the fact that it appears adding up those discounts means a free policy, you won’t be that lucky.

The chart below illustrates the comparison of Jeep Grand Cherokee car insurance rates with and without policy discounts. The costs are based on a male driver, no claims or driving violations, Maryland state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, homeowner, multi-car, marriage, and multi-policy discounts applied.

A few popular companies and the discounts they provide are detailed below.

When getting free Baltimore car insurance quotes, it’s a good idea to every insurance company how you can save money. Some of the discounts discussed earlier may not be available everywhere.

Affordable auto insurance prices are available

A few companies may not provide rates over the internet and these small, regional companies prefer to sell through independent agencies. The cheapest Jeep Grand Cherokee insurance in Baltimore is possible on the web and also from your neighborhood Baltimore agents, and you should compare rates from both to have the best chance of lowering rates.

When buying insurance coverage, never skimp on coverage in order to save money. There have been many situations where someone dropped physical damage coverage and learned later that it was a big mistake. Your goal should be to buy a smart amount of coverage at an affordable rate while not skimping on critical coverages.

More detailed auto insurance information is available in these articles: