The words "affordable" and "insurance" really should not be used together, especially when you are shopping around for the best car insurance rates for nurses. Because it's not cheap, let's open your eyes to a few of the factors that impact car insurance prices, and figure out some ideas to lower the cost of the next policy you buy.
For health professionals, one of the more important criteria that aid in calculating the price you pay for insurance is where you keep your car. Areas with more people or more claims tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates receive better rates.
The table below rates the most expensive cities in Maryland for nurses to purchase car insurance in. Baltimore comes in at #1 costing $1,796 for the average policyholder, which is around $150 monthly.
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Information shown are estimated as specific Baltimore zip code can increase or decrease coverage rates noticeably.
The type of vehicle needing coverage is a significant factor that determines whether or not you find low-cost car insurance for nurses. Vehicles with lots of horsepower, a lack of safety features, or a history of substantial liability claims will cost more to insure than safer, lower-performance models. The list below features auto insurance premiums for a handful of the most affordable vehicles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 2WD||$2,335|
|Dodge Grand Caravan CV||$2,620|
|Jeep Grand Cherokee Laredo 2WD||$2,766|
|Chevrolet Impala LT||$2,776|
|Honda Accord LX-P 4-Dr Sedan||$2,870|
|GMC Sierra SL Crew Cab 2WD||$2,960|
|Ford Fusion SE 4-Dr Sedan||$2,960|
|Ford F-150 Lariat King Ranch 4WD||$3,016|
|Ford F-350 XL Super Cab Turbo Diesel 2WD||$3,068|
|Hyundai Elantra SE Touring Station Wagon||$3,120|
|Ford Escape Limited 4WD||$3,126|
|Ford F-250 XL Cabela Package 2WD||$3,161|
|Kia Optima SX||$3,170|
|Toyota Camry Hybrid||$3,161|
|Chevrolet Malibu Hybrid||$3,168|
|Honda Civic DX 2-Dr Coupe||$3,245|
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Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Premium costs do not factor in Baltimore, MD location which can increase or decrease coverage rates noticeably.
Looking at the rates, we can tell that models like the Honda CR-V, Dodge Grand Caravan, and Jeep Grand Cherokee are going to be some of the less-costly vehicles to insure for health professionals.
Insurance rates are higher with tickets and accidents
The recommended way to obtain the best insurance premiums in Maryland for health professionals is to be a safe driver and avoid at-fault accidents and violations. The diagram below illustrates how traffic citations and fender-benders can increase car insurance costs for different categories of driver ages. The information is based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.
In the prior example, the average cost of car insurance per year with a clean driving record and no accidents is $2,269. Get written up for one speeding ticket and the average cost surges to $2,563, an increase of $294 each year. Then add in one accident along with the one speeding ticket and the yearly cost of insurance for nurses jumps again to an average of $3,382. That's an increase of $1,112, or $93 per month, just for not maintaining a clean driving record!
How to get discounts on Baltimore auto insurance rates
Car insurance companies that sell policies for nurses may provide price discounts that could potentially reduce rates by 30% or more if you are eligible. Large insurance companies and their offered discounts are detailed below.
- Farmers Insurance may have discounts that include good student, mature driver, multi-car, pay in full, and teen driver.
- State Farm may include discounts for student away at school, defensive driving training, driver's education, passive restraint, accident-free, and good driver.
- Liberty Mutual offers discounts for new graduate, safety features, new vehicle discount, newly retired, good student, newly married, and exclusive group savings.
- MetLife may offer discounts for multi-policy, defensive driver, good student, accident-free, claim-free, and good driver.
- Progressive policyholders can earn discounts including multi-vehicle, online quote discount, continuous coverage, good student, homeowner, and online signing.
The diagram below shows the comparison of car insurance rates with and without policy discounts. The price estimates are based on a male driver, a clean driving record, no claims, Maryland state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with multiple policy, vehicle safety, anti-theft, homeowner, multiple vehicle, and claim-free discounts applied. When discounts are factored in, theaverage yearly reduction on insurance for nurses is 28% or $642.
The benefit of shopping around
Baltimore insurance rates are calculated based on many things which can significantly increase or decrease your annual premium. Simply improving your credit, having a teen driver, or getting a speeding ticket can trigger rate changes resulting in some rates now being much cheaper than others. Additionally, companies change premium rates at least once a year in order to maintain liquidity for claims. Higher than normal claims can result in higher rates, while profitable underwriting can cause more affordable Baltimore car insurance rates.
For instance, the graph below shows rates for the cheapest car insurance in Baltimore, MD for a 40-year-old female driver with a clear driving record, no claims, and a high credit rating. When quoting prices based on her personal risk profile, USAA quotes the lowest car insurance rates in Baltimore at $1,613 annually. This is $54 more than the average policy premium paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto also make the list of the most affordable Baltimore, MD auto insurance companies.
The example below compares rates after we give the driver in the first example a claim or two, a lower credit rating, and a stop sign violation. Since every car insurance company has their own guidelines for establishing rates, analyzing rate quotes may now present a different ranking of companies as shown below.
MetLife now has the best insurance rate in Baltimore, MD with Travelers, Nationwide, GEICO, and Liberty Mutual completing the list. This example illustrates why Baltimore drivers need to shop around with many companies when trying to get cheap auto insurance quotes for nurses.
Insurance prices are influenced by many things and can change substantially, so the best price the last time you compared rates may now be quite expensive.