Save Money on Honda CR-V Insurance in Baltimore

Are you sick of overpaying and want more affordable Honda CR-V insurance in Baltimore? Have you had enough of robbing Peter to pay Paul to pay your insurance bill each month? Your situation is no different than many other Maryland drivers.

Insurance for Honda CR-VIt’s well known that insurance companies want to keep you from shopping around. Insureds who shop around for cheaper rates will most likely switch companies because of the good chance of finding a more affordable policy premium. A survey found that drivers who did price comparisons regularly saved about $865 a year compared to people who never compared rates.

If finding the cheapest price for insurance in Baltimore is your goal, then having some insight into the best way to compare insurance rates can help you succeed in saving money.

Steps to finding better rates for Honda CR-V insurance in Baltimore

To save the most money, the best way to find affordable car insurance rates is to do an annual price comparison from insurance carriers that sell auto insurance in Baltimore.

The critical component of shopping around is that you use similar coverage information on every price quote and to quote with as many carriers as you can. Doing this guarantees a fair price comparison and many rates to choose from.

Big companies like GEICO and Progressive continually bombard you with ads and it is challenging if not impossible to see past the corporate glitz and do the work needed to find the best deal.

If you are paying for car insurance now, you should be able to get lower rates using these methods. Finding the cheapest insurance coverage in Baltimore is really quite easy. Although Maryland consumers can benefit by having an understanding of how insurance companies determine what you pay and use it to your advantage.

Informed Drivers Save Every Year

Smart consumers have a good feel for the rating factors that help determine the level of your policy premiums. If you have a feel for what positively or negatively impacts your premiums, this enables informed choices that can help you get lower rates.

The following are a few of the “ingredients” that factor into prices.

Just remember that comparing a large number of companies helps locate a lower rate.

The companies shown below offer free rate quotes in Baltimore, MD. If your goal is to find the cheapest car insurance in Maryland, we suggest you compare several of them in order to find the most competitive rates.

Insurance rate breakdown

The rate information below showcases different policy rates for Honda CR-V models. Learning as much as possible about how rate quotes are determined is important for making informed coverage decisions.

Honda CR-V Insurance Rates in Baltimore, MD
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $234 $430 $324 $20 $98 $1,106 $92
CR-V EX 2WD $234 $430 $324 $20 $98 $1,106 $92
CR-V LX 4WD $234 $430 $324 $20 $98 $1,106 $92
CR-V EX 4WD $270 $430 $324 $20 $98 $1,142 $95
CR-V EX-L 2WD $270 $430 $324 $20 $98 $1,142 $95
CR-V EX-L 4WD $270 $430 $324 $20 $98 $1,142 $95
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Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rate quotes do not factor in specific garaging location which can alter auto insurance rates greatly.

Choosing deductibles

When shopping for insurance, a common question is what deductibles to buy. The following insurance rates may help to conceptualize the differences in price when you buy lower versus higher insurance deductibles. The first table uses a $250 deductible and the second set of rates uses a $500 deductible.

Honda CR-V insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $274 $434 $346 $20 $104 $1,203 $100
CR-V EX 2WD $274 $434 $346 $20 $104 $1,203 $100
CR-V LX 4WD $274 $434 $346 $20 $104 $1,203 $100
CR-V EX 4WD $314 $434 $346 $20 $104 $1,243 $104
CR-V EX-L 2WD $314 $434 $346 $20 $104 $1,243 $104
CR-V EX-L 4WD $314 $434 $346 $20 $104 $1,243 $104
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Honda CR-V insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $222 $350 $346 $20 $104 $1,042 $87
CR-V EX 2WD $222 $350 $346 $20 $104 $1,042 $87
CR-V LX 4WD $222 $350 $346 $20 $104 $1,042 $87
CR-V EX 4WD $256 $350 $346 $20 $104 $1,076 $90
CR-V EX-L 2WD $256 $350 $346 $20 $104 $1,076 $90
CR-V EX-L 4WD $256 $350 $346 $20 $104 $1,076 $90
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Table data does not factor in specific location which can alter prices substantially.

Based on this data, we can arrive at the conclusion that using a $250 deductible will cost in the ballpark of $13 more each month or $156 a year than opting for the higher $500 deductible. Since you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 19 months between claims, you would most likely save money if you elect the higher deductible. The table below shows an example of how this decision is made.

Average monthly premium for $250 deductibles: $102
Average monthly premium for $500 deductibles (subtract): – $89
Monthly savings from raising deductible: $13
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $13
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

An important sidenote is that increasing deductibles to lower your rates results in a higher out-of-pocket expense when you do file a claim. You need enough extra savings in order to pay the higher deductible.

The chart below shows how choosing a deductible and can affect Honda CR-V premium costs for different age groups of insureds. The premiums are based on a single female driver, comp and collision included, and no discounts are taken into consideration.

Honda CR-V full coverage rates compared to liability only

The illustration below shows the comparison of Honda CR-V insurance rates with full physical damage coverage and with liability coverage only. The price estimates are based on no claims or driving citations, $100 deductibles, drivers are single, and no discounts are factored in.

Deciding between full coverage and liability only

There is no definitive formula to eliminate comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

For example, let’s say your Honda CR-V book value is $9,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after the deductible is paid. If you are paying in excess of $800 a year for full coverage, then you might consider buying liability only.

There are some scenarios where buying only liability insurance is not a good plan. If you still have a lienholder on your title, you have to carry full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should maintain full coverage.

Auto insurance does more than just protect your car

Despite the high cost, maintaining insurance serves several important purposes.

The benefits of buying auto insurance more than offset the price you pay, particularly if you ever have a claim. According to a 2015 survey, the average American driver is currently overpaying as much as $855 a year so you should quote your policy with other companies every year to save money.

Companies offer many types of discounts on Honda CR-V insurance in Baltimore

Some insurance providers do not advertise every discount available in a way that’s easy to find, so below is a list both the well known as well as the least known discounts that you can inquire about if you buy Baltimore auto insurance online. If you do not check that you are getting every discount you qualify for, you are not getting the best rate possible.Cheaper insurance with discounts

Discounts save money, but please remember that most discounts do not apply to all coverage premiums. Most only cut specific coverage prices like liability, collision or medical payments. Despite the fact that it seems like it’s possible to get free car insurance, you aren’t that lucky.

The chart below illustrates the difference between Honda CR-V insurance premiums with and without discounts applied to the rates. The data assumes a female driver, no claims or violations, Maryland state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-car, claim-free, multi-policy, and homeowner discounts applied.

If you would like to view insurance companies that provide some of the discounts listed above in Baltimore, follow this link.

Insurance agencies near you

Some consumers would prefer to talk to an insurance agent and doing that can be a smart decision An additional benefit of comparing rate quotes online is the fact that you can find better rates and still choose a local agent.

Baltimore insurance agentsTo help locate an agent, after submitting this quick form, the coverage information is immediately sent to insurance agents in Baltimore who will gladly provide quotes to get your business. It simplifies rate comparisons since you won’t have to contact any agents because prices are sent to you instantly. You can find the lowest rates without the usual hassles of price shopping. In the event you want to compare prices for a specific company, you just need to go to their quote page and fill out their quote form.

Finding the right insurer should include more criteria than just a cheap price quote. Ask your prospective agent these questions:

Multiple types of car insurance agents in Baltimore

When finding a local Baltimore insurance agency, it can be helpful to understand the different types of agencies and how they operate. Baltimore agents are categorized either exclusive agents or independent agents.

Exclusive Agents

Agents that choose to be exclusive normally can only provide a single company’s rates and some examples include Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents are unable to compare other company’s rates so you might not find the best rates. They receive extensive training on their company’s products which helps offset the inability to provide other markets.

The following is a short list of exclusive insurance agencies in Baltimore that are able to give price quote information.

6719 York RdBaltimore, MD 21212(443) 863-7733View Map

7823 Wise AveBaltimore, MD 21222(410) 282-7283View Map

307 Frederick RdBaltimore, MD 21228(410) 744-0077View Map

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Independent Agencies or Brokers

Independent agencies often have affiliation with several companies and that gives them the ability to insure with a variety of different insurance companies and possibly get better coverage at lower prices. If your premiums go up, your agent can just switch to a different company and you don’t have to switch agencies.

When searching for an agent, you will definitely want to include a few independent agents so that you have a good selection of quotes to compare.

Shown below are Baltimore independent agencies willing to provide rate quotes.

1400 S Charles StBaltimore, MD 21230(410) 779-9272View Map

1726 Reisterstown Rd #220Baltimore, MD 21208(410) 602-2636View Map

1215 E Fort Ave #300Baltimore, MD 21230(800) 492-7120View Map

More insurance agents

If you get good feedback to any questions you may have and an affordable coverage quote, it’s a good possibility that you have found an insurance agency that meets the criteria to properly service your car insurance policy.

You can lower your auto insurance rates

As you go through the steps to switch your coverage, never reduce coverage to reduce premium. There are many occasions where drivers have reduced collision coverage only to find out they didn’t have enough coverage. Your aim should be to find the BEST coverage at the best possible price while not skimping on critical coverages.

We just showed you many tips how you can reduce Honda CR-V insurance rates online in Baltimore. It’s most important to understand that the more providers you compare, the better your chances of lowering your car insurance rates. Drivers may even discover the lowest rates are with an unexpected company. They may only write in your state and offer lower car insurance rates than the large multi-state companies such as State Farm, GEICO and Nationwide.

Budget-friendly auto insurance in Baltimore can be sourced online and from local agencies, so you need to shop Baltimore auto insurance with both in order to have the best chance of saving money. A few companies don’t offer online quoting and usually these regional insurance providers only sell coverage through local independent agents.

How to find low-cost rates for Honda CR-V insurance in Baltimore

The most effective way to find low-cost prices for car insurance rates is to start comparing prices regularly from providers who provide car insurance in Baltimore.

First, read about individual coverages and the modifications you can make to keep rates low. Many risk factors that cause high rates such as accidents, careless driving, and bad credit can be remedied by being financially responsible and driving safely.

Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while independent agencies can quote rates from multiple insurance companies. View rates

Third, compare the quotes to the price on your current policy to see if a cheaper rate is available in Baltimore. If you find a better price and change companies, verify that coverage does not lapse between policies.

An important note is to use identical deductibles and limits on each price quote and and to get price quotes from as many companies as feasibly possible. This guarantees an accurate price comparison and the best price selection.

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