The words “low-cost” and “insurance” really shouldn’t be used together, specifically when you are searching for the best price on coverage for teenage females. In an attempt to save some money, let’s introduce you to some things that help determine insurance premiums, and see if you can take the sting out of the next policy you buy.
The car, truck, or SUV to be insured is probably the largest consideration that determines whether or not you can buy cheap insurance for teenage females. Vehicles with lots of speed or power, poor safety ratings, or an increased likelihood of liability claims will cost more to insure than more modest models. The list below features coverage prices for a selection of the most affordable automobiles to insure in Maryland.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$9,058|
|Honda Accord LX-P 4-Dr Sedan||$9,067|
|Honda CR-V EX 4WD||$9,147|
|Ford F-150 XL Crew Cab 4WD||$10,260|
|Honda Civic DX 4-Dr Sedan||$10,655|
|Ford Edge SEL AWD||$10,664|
|Toyota Tacoma Double Cab 4WD||$10,744|
|Volkswagen Jetta LE 4-Dr Sedan||$10,751|
|Chevrolet Equinox LS AWD||$10,744|
|Chevrolet Malibu Hybrid||$10,754|
|Toyota RAV4 Limited 2WD||$10,744|
|Jeep Grand Cherokee Laredo 2WD||$10,750|
|Ford Explorer Limited 2WD||$10,832|
|Dodge Grand Caravan Crew||$10,841|
|Ford Focus SES 4-Dr Sedan||$11,227|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$11,309|
|Toyota Corolla XLE||$11,316|
|Toyota Camry XLE||$11,321|
|Honda Odyssey EX-L W/Rear Entertainment||$11,316|
|Chevrolet Impala LTZ||$11,323|
|Hyundai Elantra SE 4-Dr Sedan||$11,316|
|Chevrolet Silverado LS Crew Cab 4WD||$11,405|
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Data based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in your specific Baltimore, MD location which can revise price quotes greatly.
Based upon the rates shown, you can assume that vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Toyota Prius are most likely going to be the most budget-friendly vehicles to insure for teen girls. The price for car insurance will tend to be more expensive just due to the fact that there is more exposure for teenage females, but generally speaking those particular vehicles will probably have the best insurance prices compared to other vehicles.
Deciphering which company quotes the best insurance rates for teenage females will involve a bit more effort in order to find the lowest price.
Every auto insurer has a unique formula for setting rates, so we’ll take a look at the most budget-friendly insurance companies in Baltimore, MD. It’s important to understand that Baltimore, MD insurance rates are impacted by many things which can substantially change the cost of a policy. Improving your credit rating, getting divorced, or getting a DUI can trigger price changes that can now make some companies much cheaper than others.
Best Cheap Insurance Rates for Teens
|Rank||Company||Cost Per Year|
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USAA normally has some of the most affordable car insurance rates in Baltimore at around $930 each year. This is $629 less than the average price paid by Maryland drivers of $1,559. Penn National, Liberty Mutual, Erie, and State Auto also are some of the more affordable Baltimore, MD car insurance companies.
In this example, if you have coverage with State Auto and switched to Penn National, you may realize a yearly price reduction of around $110. Maryland drivers with Amica could save as much as $191 a year, and Nationwide policyholders might cut rates by $317 a year.
Understand that those policy prices are averages across all drivers and vehicles in Maryland and are not factoring in a vehicle location for teenage females. So the insurer that is most affordable for your situation may not even be in the list above. That’s why you need to get quotes using your own personal information and vehicle type.
Full coverage rates vs. liability-only in Baltimore
Reducing premiums for insurance is the goal of the majority of drivers, and an effective way to save on the cost of insurance for teenage females is to not buy comprehensive and collision coverage. The diagram below visualizes the comparison of insurance prices with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The price estimates are based on no violations or accidents, $250 deductibles, single marital status, and no discounts are taken into consideration.
If all age groups are averaged, comp and collision coverage costs an extra $2,129 per year more than buying just liability insurance. A very common question is when is the right time to remove full coverage. There is no written rule of when to drop physical damage coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s assume your vehicle’s book value is $4,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after paying your policy deductible. If you are paying over $300 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
There are a few situations where only buying liability is not in your best interest. If you haven’t satisfied your loan, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not remove full coverage.
Get discounts on Baltimore insurance
Auto insurance companies that provide policies for teenage females may also give you rate discounts that could potentially reduce rates by 30% or more if you qualify for them. Popular insurance companies and some of their more popular discounts are shown below.
- American Family offers discounts for defensive driver, Steer into Savings, air bags, good student, TimeAway discount, and bundled insurance.
- Farm Bureau includes discounts for multi-policy, multi-vehicle, good student, safe driver, youthful driver, renewal discount, and driver training.
- State Farm discounts include anti-theft, passive restraint, multiple autos, driver’s education, defensive driving training, and good driver.
- Travelers may have discounts that include early quote, save driver, multi-car, multi-policy, and payment discounts.
- The Hartford has savings for vehicle fuel type, bundle, driver training, air bag, and anti-theft.
- GEICO offers discounts including good student, defensive driver, five-year accident-free, membership and employees, air bags, and multi-vehicle.
- Progressive policyholders can earn discounts including online quote discount, good student, homeowner, continuous coverage, multi-policy, and multi-vehicle.
The illustration below shows the comparison of auto insurance costs with and without discounts applied to the policy premium. The information is based on a male driver, no driving violations, no at-fault accidents, Maryland state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with paid-in-full, vehicle safety, continuous coverage, anti-theft, paperless filing, and good student discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on insurance for teenage females is 28% or $1,111.
Here’s why you should compare rates often
Baltimore insurance rates are impacted by many things that will increase or decrease the price you pay. Simply improving your credit, adding a teenager to your policy, or getting a reckless driving citation can trigger price changes that may make certain companies more affordable than others.
In addition to those changes, insurers modify rates as often as every three months to ensure their profitability. Heavy losses may result in rate hikes, while lower claims can result in cheaper Baltimore car insurance rates.
The data below shows which company has the cheapest car insurance in Baltimore, MD for a 35-year-old female driver with a good driving record, no prior claims, and good financial standing. If we look at prices based on her personal profile, USAA offers the most affordable car insurance rates in Baltimore at $1,636 annually. This is $77 more than the average price paid by Maryland drivers of $1,559. Penn National, Erie, Liberty Mutual, and State Auto are the rest of the cheapest Baltimore, MD auto insurance companies.
Now let’s give the driver from above a chargeable claim, a lower credit rating, and a few traffic violations. Since each insurance company has a unique formula for determining prices, comparing insurance quotes will most likely result in a new list of companies as shown below.
MetLife now has the cheapest car insurance in Baltimore with Nationwide, Travelers, GEICO, and California Casualty also having competitive pricing. This example demonstrates why consumers need to take the time to shop around when trying to find the best insurance rates for teenage females.
Car insurance prices are determined by many different factors and can change without notice, so the best company three years ago may now be costing you a lot of money.
The agents listed below can probably aid you in deciding which is the best policy, as many consumers aren’t sure which coverage to buy and prefer to get some professional input when comparing insurance rates for teen girls. It can be difficult to find the cheapest car insurance policy, and professional agents can bring comfort knowing you have adequate protection in the event of a claim.
To find a Baltimore insurance agent nearest to you, click the link at the bottom.
- Allstate Insurance Agency: Abernathy Michael
7696 Belair Rd – Baltimore, MD 21236 – (410) 426-5500
- Rich Garcia State Farm Insurance Agency
9526 Belair Rd – Baltimore, MD 21236 – (410) 248-3276
- Paul Funk – State Farm Insurance Agent
307 Frederick Rd – Baltimore, MD 21228 – (410) 744-0077
- Natasha Parker – State Farm Insurance Agent
617 Stemmers Run Rd, Ste AA – Baltimore, MD 21221 – (410) 238-0071
- Mimi Brown – State Farm Insurance Agent
911 S Lakewood Ave – Baltimore, MD 21224 – (410) 878-0232