The car, truck, or SUV you are trying to insure is one of the largest considerations when shopping for economical coverage after a speeding ticket. Vehicles with limited speed and performance, an excellent safety record, or a track record of few liability claims will cost quite a bit less to insure than higher performance models. The next table estimates insurance prices for a handful of the most economical vehicles to buy insurance for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$3,852|
|Honda Accord LX-P 4-Dr Sedan||$4,112|
|Jeep Wrangler Sahara 4WD 2-Dr||$4,211|
|Dodge Grand Caravan SE||$4,218|
|Honda CR-V EX-L 2WD||$4,214|
|Ford Edge SEL AWD||$4,376|
|Hyundai Elantra SE Touring Station Wagon||$4,379|
|Volkswagen Jetta S 2.5 Station Wagon||$4,389|
|Toyota RAV4 Sport 4WD||$4,460|
|Chevrolet Impala LT||$4,467|
|Toyota Tacoma Double Cab 4WD||$4,544|
|Ford F-150 Lariat Crew Cab 2WD||$4,552|
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Premium data assumes single male driver age 50, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, and multi-vehicle. Information does not factor in garaging location in Baltimore, MD which can modify rates noticeably.
Looking at the rates, you can assume that cars like the Ford Escape, Honda Accord, Jeep Wrangler, Dodge Grand Caravan, and Honda CR-V are most likely to be a few of the less-costly vehicles to insure after a few driving violations.
Comparing quotes for cost effective insurance is not the easiest thing to do, and figuring out which companies quote the cheapest car insurance rates after a speeding ticket will require even more diligence.
Each auto insurance company has their own formula to set premium rates, so let’s take a look at the car insurance companies that tend to be cheaper in Baltimore, MD. Keep in mind that Baltimore, MD car insurance rates are impacted by many things that may substantially change the price you have to pay for coverage. This is why it is critical to shop around to find the most budget-friendly car insurance quotes after a speeding ticket. Rates are influenced by many things and can change without notice, so the best option two years ago may now be quite expensive.
Best Auto Insurance Prices with Licence Points
USAA may offer some of the best car insurance rates in Baltimore at around $958 each year. This is $601 less than the average rate paid by Maryland drivers of $1,559. Penn National, Liberty Mutual, Erie, and State Auto also rank well as some of the more affordable Baltimore, MD auto insurance companies.
As shown above, if you buy coverage from Liberty Mutual and switched to USAA, you could see an annual savings of roughly $167. Policyholders with Erie might save as much as $203 a year, and State Auto insureds might realize rate reductions of up to $268 a year.
To get a fast rate comparison, click here to get a free quote or quote prices from the following companies.
These prices are averages across all types of drivers and the different vehicles they drive and and are not calculated with an exact location after a speeding ticket. So the car insurance company that has the cheapest price for you may not even be in the top 16 companies shown above. That illustrates why you need to get auto insurance quotes using your own specific driver information and vehicle.
One of the many criteria that are looked at to help calculate the amount you pay for auto insurance is where your car is garaged. Cities with more crime and/or more people are more likely to have higher rates, whereas areas with less people or fewer weather incidents have the gratification of cheaper auto insurance rates.
The next table shows the highest-priced areas in Maryland after a speeding ticket in which to buy car insurance. Baltimore comes in at #1 with a yearly cost of $1,760 on average, which is about $147 monthly.
|Rank||City||Premium Per Year|
|23||Bel Air South||$1,186|
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Premium costs are estimated as the specific area where the vehicle is garaged can modify coverage rates substantially.
Get discount Baltimore insurance rates
Insurance companies that provide policies after a speeding ticket may also provide premium discounts that could reduce prices by as much as 35% or more if you qualify. A few popular companies and a partial list of their discounts can be found below.
- GEICO policyholders can earn discounts including federal employee, anti-theft, emergency military deployment, defensive driver, and five-year accident-free.
- Travelers has discounts for save driver, IntelliDrive, multi-policy, good student, driver training, and multi-car.
- Farm Bureau has savings for good student, multi-policy, youthful driver, multi-vehicle, 55 and retired, renewal discount, and safe driver.
- Liberty Mutual offers discounts including good student, newly married, safety features, new vehicle discount, teen driver discount, hybrid vehicle, and multi-car.
- American Family may offer discounts for Steer into Savings, bundled insurance, defensive driver, air bags, mySafetyValet, and TimeAway discount.
- Progressive offers discounts for good student, homeowner, multi-vehicle, online signing, online quote discount, multi-policy, and continuous coverage.
The chart below shows the difference between annual premium costs with and without discounts applied to the policy premium. The premiums are based on a female driver, no accidents and two citations, Maryland state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with continuous coverage, paid-in-full, marriage, anti-theft, paperless filing, and vehicle safety discounts applied. When taking advantage of discounts, the average amount saved each year on car insurance after a speeding ticket is 28% or $830.
Liability rates compared to full coverage
Finding cheaper car insurance is important to the majority of vehicle owners, and one good way to buy cheaper insurance after a speeding ticket is to buy liability only. The diagram below illustrates the difference between insurance rates when comparing full coverage to liability only. The rates are based on no accidents or driving violations, $500 deductibles, drivers are single, and no discounts are applied.
Averaged out for all age groups, comp and collision coverage costs an additional $1,910 per year more than just buying liability insurance. A very common question is when is it safe to stop buying full coverage. There is no specific rule to stop paying for comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s pretend your vehicle’s claim settlement value is $4,500 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $3,500 after paying your policy deductible. If it’s costing in excess of $350 a year to have full coverage, then you may want to consider only buying liability coverage.
There are some circumstances where removing full coverage is not a good plan. If you still owe money on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Can you find cheaper Baltimore car insurance?
Baltimore car insurance rates are influenced by many factors which can substantially change your annual premium. Turning one year older, moving across town, or getting a speeding ticket can trigger price changes that may make certain companies cheaper than before.
In addition, auto insurance companies modify rates as needed in order to maintain liquidity for claims. Significantly higher losses can result in more expensive premiums, while less frequent claims can result in lower-priced Baltimore car insurance rates.
To illustrate this example, the bar chart below shows which companies have the cheapest car insurance in Baltimore, MD for a 45-year-old female driver with a clear driving record, no claims, and solid credit. If we estimate rates based on her personal profile, USAA offers the most affordable car insurance rates in Baltimore at $1,703 a year. This is $144 more than the average price paid by Maryland drivers of $1,559. Erie, Liberty Mutual, Penn National, and State Auto are the remaining cheapest Baltimore, MD auto insurance companies.
The chart below compares rates after we give the driver from the first set of rates a claim or two, slightly worse credit, and a few blemishes on her driving record. Due to the fact that each insurance company has a unique formula for determining rates, analyzing rates may result in a different ranking of companies as shown below.
Nationwide now has the best car insurance rate in Baltimore, MD with Travelers, MetLife, GEICO, and California Casualty also having competitive pricing. This demonstrates why Maryland drivers need to perform a complete rate comparison when trying to get affordable insurance rates after a speeding ticket.
Insurance prices consist of many different factors and can increase or decrease at any time, so the best option six months ago may now be quite expensive.