A recent insurance study discovered that most consumers in Maryland kept their policy with the same company for at least the last four years, and 38% of drivers have never shopped around. With the average premium in America being $1,847, drivers could save themselves almost $859 a year by just comparing rate quotes, but they don’t know the rate savings if they switched.
If your goal is the lowest price, then the best way to find lower priced auto insurance rates in Baltimore is to compare quotes once a year from insurers that sell auto insurance in Maryland.
First, get an understanding of car insurance and the modifications you can make to keep rates in check. Many rating criteria that drive up the price such as distracted driving and an unacceptable credit rating can be remedied by being financially responsible and driving safely.
Second, compare price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like GEICO or Farmers Insurance, while independent agencies can provide rate quotes from multiple companies.
Third, compare the quotes to your existing rates to see if cheaper IS 250 coverage is available. If you find a lower rate quote and change companies, ensure coverage does not lapse between policies.
A good piece of advice is that you’ll want to compare identical coverages on each price quote and and to get quotes from every company you can. Doing this enables a level playing field and a complete selection of prices.
Many insurance companies like State Farm and Allstate make it easy to get prices on their websites. Getting online rates for Lexus IS 250 insurance in Baltimore is pretty easy because it’s just a matter of typing in the amount of coverage you want into a form. After the form is submitted, their rating system obtains your driving record and credit report and gives you a price quote determined by many factors.
Using the web to get price quotes for Lexus IS 250 insurance in Baltimore streamlines rate comparisons, and it’s necessary to get many rate quotes if you want to find the best rate.
To save time and compare pricing, visit the companies below or click here to submit a quote request to multiple companies at once. If you currently have coverage, we recommend you enter deductibles and limits exactly as shown on your declarations page. This ensures you will have an apples-to-apples comparison based on the exact same insurance coverage.
The companies in the list below are ready to provide free quotes in Maryland. If you wish to find cheaper car insurance in MD, it’s highly recommended you visit as many as you can in order to get a fair rate comparison.
Auto insurance analysis for a Lexus IS 250
The data table displayed next highlights a range of coverage prices for Lexus IS 250 models. Having a better idea how insurance premiums are formulated can assist in making decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| IS 250 4-Dr Sedan | $358 | $788 | $356 | $22 | $106 | $1,630 | $136 |
| IS 250 AWD 4-Dr | $400 | $788 | $356 | $22 | $106 | $1,672 | $139 |
| IS 250 C 2-Dr Convertible | $400 | $788 | $418 | $24 | $126 | $1,756 | $146 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Premium amounts do not factor in specific garaging location which can affect coverage prices noticeably.
Lexus IS 250 liability rates compared to full coverage
The chart below shows the difference between Lexus IS 250 car insurance costs with full physical damage coverage and with liability coverage only. The information is based on no violations or claims, $250 deductibles, single status, and no discounts are factored in.
Deciding between full coverage and liability only
There is no set rule that works best for making the decision to drop physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then you might consider buying liability only.
For example, let’s assume your Lexus IS 250 replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $4,000 after paying your policy deductible. If you are paying more than $400 a year for full coverage, then you may want to consider only buying liability coverage.
There are some scenarios where only buying liability is not recommended. If you have an outstanding loan on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not remove full coverage.
These discounts can reduce Lexus IS 250 insurance rates
Insuring your vehicles can cost a lot, but there may be some discounts that can drop the cost substantially. Certain discounts will be triggered automatically when you complete an application, but some must be asked for in order for you to get them.
- Cautious Driver Discounts – Accident-free drivers could pay up to 40% less compared to accident prone drivers.
- Driving Data Discount – People who choose to allow driving data collection to monitor driving manner by using a telematics device in their vehicle like In-Drive from State Farm and Progressive’s Snapshot might see lower rates if they exhibit good driving behavior.
- Use Seat Belts – Buckling up and requiring all passengers to fasten their seat belts can save 10% or more on the medical payments or PIP coverage costs.
- College Student – Youth drivers who live away from home to go to college and leave their car at home could get you a discount.
- Drive Less and Save – Keeping the miles down on your Lexus could qualify for lower rates on the low mileage vehicles.
- Bundled Policy Discount – When you have multiple policies and place coverage with the same company you may earn approximately 10% to 15%.
- Discount for Passive Restraints – Vehicles equipped with air bags may get savings of 20% or more.
- One Accident Forgiven – Not really a discount, but a few companies such as Allstate and Progressive may permit one accident without raising rates if you are claim-free for a particular time prior to the accident.
Remember that most discount credits are not given to the entire cost. Most only reduce individual premiums such as liability and collision coverage. So despite the fact that it appears you can get free auto insurance, companies wouldn’t make money that way.
The illustration below compares Lexus IS 250 annual premium costs with and without discounts being applied to the rates. The price estimates are based on a male driver, no violations or claims, Maryland state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, marriage, safe-driver, multi-car, and homeowner discounts applied.
A few of the larger companies and a selection of discounts are shown below.
- Farmers Insurance offers premium reductions for electronic funds transfer, good student, teen driver, bundle discounts, switch companies, early shopping, and youthful driver.
- State Farm may include discounts for accident-free, Steer Clear safe driver discount, passive restraint, defensive driving training, Drive Safe & Save, student away at school, and multiple policy.
- Liberty Mutual policyholders can earn discounts including multi-car, teen driver discount, safety features, newly retired, good student, new vehicle discount, and exclusive group savings.
- MetLife includes discounts for multi-policy, claim-free, accident-free, defensive driver, and good driver.
- Progressive discounts include multi-vehicle, homeowner, multi-policy, good student, online signing, and online quote discount.
It’s a good idea to ask all companies you are considering which credits you are entitled to. Some of the discounts discussed earlier might not be offered in Baltimore. For a list of companies who offer online Lexus IS 250 insurance quotes in Maryland, click this link.
Why you need insurance for your Lexus vehicle
Despite the fact that insurance is not cheap in Baltimore, insuring your vehicle may be required for several reasons.
- Most states have minimum liability requirements which means you are required to carry specific limits of liability if you want to drive 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 you took out a loan on your IS 250, almost all lenders will make it a condition of the loan that you have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Lexus at a much higher rate and require you to fork over the higher price.
- Insurance preserves not only your Lexus IS 250 but also your assets. It will also reimburse you for most medical and hospital costs for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, will also pay to defend you if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance more than offset the price you pay, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is overpaying more than $830 a year so compare rates at every policy renewal to be sure current rates are still competitive.
Maryland auto insurance companies
Selecting a high-quality insurance provider is difficult considering how many different insurance companies sell coverage in Maryland. The information shown below could help you select which car insurance providers to look at purchasing a policy from.
Top 10 Baltimore Car Insurance Companies Ranked by Customer Service
- USAA
- Travelers
- Mercury Insurance
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
Top 10 Baltimore Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
What is the best car insurance coverage?
Always keep in mind that when comparing proper insurance coverage, there isn’t really a “best” method to buy coverage. Your financial needs are unique.
For example, these questions might help in determining whether your personal situation might need professional guidance.
- Am I covered if hit by an uninsured driver?
- Is my nanny covered when driving my vehicle?
- Is rental equipment covered for theft or damage?
- Is a blown tire covered by insurance?
- Is my teenager covered with friends in the car?
- Does medical payments coverage apply to all occupants?
If it’s difficult to answer those questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form. It’s fast, free and may give you better protection.
When to get advice from a local insurance agent
A small number of people would prefer to buy from a licensed agent and that is just fine! Insurance agents can help you choose the best coverages and will help you if you have claims. The biggest benefit of getting free rate quotes online is that you can obtain the lowest rates but also keep your business local.
To find an agent, once you fill out this form (opens in new window), your coverage information is instantly submitted to companies in Baltimore that can give you free Baltimore auto insurance quotes for your business. There is no need to leave your house because quoted prices will be sent directly to your email. If you wish to compare rates from one company in particular, you can always find their quoting web page and submit a quote form there.
Finding a good insurer is decision based upon more than just a cheap price. Before buying a policy in Baltimore, get answers to these questions.
- Are you getting all the discounts the company offers?
- What is the agency’s Better Business Bureau rating?
- Are they properly licensed to sell insurance in Maryland?
- Is there a local claims center in Baltimore?
- Are they able to provide referrals?
- Is there a 24/7 contact number?
- Are they full-time agents?