Establishing which companies offer the cheapest insurance rates for government employees will involve a little more effort in order to find the lowest price. Each insurance company uses their own formula for determining prices, so we’ll go over the insurance companies with the overall cheapest rates in Baltimore, MD.
It’s a good idea to be aware that Baltimore, MD insurance rates are based on many factors which can substantially decrease or increase the cost of having a policy. Simply having a birthday, getting married, or getting caught speeding can trigger changes in premium resulting in some companies being much cheaper than others.
Best Insurance Companies in Maryland
USAA normally has some of the best car insurance rates in Baltimore at around $920 per year. Liberty Mutual, Penn National, Erie, and State Auto are also some of the cheapest Baltimore, MD auto insurance companies.
In the above rates, if you are a policyholder with Erie and switched to Liberty Mutual, you could realize an annual savings of in the neighborhood of $13. Policyholders with State Auto may save as much as $76 a year, and Amica customers might reduce prices by as much as $233 a year.
Understand that those policy prices are averaged for all drivers and vehicles and are not factoring in a specific location for government employees. So the auto insurance company that is most affordable for your situation may not even be in the top 16 companies shown above. That points out the importance of why you need to get rate quotes from many companies using your own personal information and vehicle type.
The car, truck, or SUV requiring coverage is probably the most important factor that determines whether or not you can buy cheaper auto insurance for government employees. Vehicles with more horsepower, poor passenger safety features, or a high likelihood of having liability claims will cost significantly more to insure than safer models.
The next table illustrates car insurance costs for some of the more affordable automobiles to buy insurance for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$2,591|
|Ford Escape Limited 4WD||$2,746|
|Chevrolet Silverado LS Extended Cab 4WD||$2,996|
|Ford Explorer Limited 2WD||$3,053|
|Toyota Corolla S||$3,155|
|Toyota Camry XLE||$3,162|
|Jeep Wrangler Sport 4WD 2-Dr||$3,212|
|Volkswagen Jetta SE 4-Dr Sedan||$3,218|
|Nissan Rogue SL 2WD||$3,216|
|Kia Optima LX||$3,226|
|Ford Edge Limited 2WD||$3,375|
|Chevrolet Malibu LS||$3,436|
|Nissan Altima 2.5 4-Dr Sedan||$3,442|
|Toyota RAV4 Sport 2WD||$3,436|
|Dodge Grand Caravan CV||$3,483|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$3,502|
|Ford Focus SES 4-Dr Sedan||$3,556|
|GMC Sierra 2500HD SLT Extended Cab 2WD||$3,588|
|Chevrolet Impala LS||$3,603|
|Honda Odyssey EX||$3,613|
|Hyundai Elantra GLS 4-Dr Sedan||$3,617|
|Jeep Grand Cherokee Laredo 2WD||$3,679|
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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 multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Price estimates do not factor in zip code location which can change auto insurance rates considerably.
Based upon these rates, you can infer that makes and models like the Honda CR-V, Ford Escape, Chevrolet Silverado, Ford Explorer, and Toyota Corolla will be some of the cheapest vehicles to insure for state and federal workers.
The chart below highlights how deductible selection can increase or decrease insurance prices when researching cheap insurance for government employees. The premiums assume a married female driver, comprehensive and collision coverage, and no discounts are factored in.
As shown above, a 30-year-old driver could lower rates by $450 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $678 by switching to a $1,000 deductible. Even younger drivers, like the age 20 example, could drop their prices as much as $958 or more by choosing larger deductibles on their policy.
When using a larger deductible, it is essential to have enough spare savings to offset the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Get discount Baltimore insurance rates
Insurers that offer coverage for government employees may also offer policy discounts that can lower rates by 35% or more if you meet the requirements. A list of insurance companies and their possible discounts are outlined below.
- AAA may have discounts that include good driver, good student, multi-car, AAA membership discount, anti-theft, education and occupation, and pay-in-full.
- Progressive offers discounts including online signing, multi-vehicle, multi-policy, homeowner, continuous coverage, online quote discount, and good student.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, multiple autos, anti-theft, multiple policy, good student, student away at school, and good driver.
- Esurance discounts include anti-lock brakes, good student, renters, multi-policy, safety device, and defensive driver.
- Nationwide may include discounts for accident-free, defensive driving, anti-theft, good student, and Farm Bureau membership.
The chart below illustrates the comparison of insurance rates with and without discounts being applied to the rates. The data is based on a female driver, no violations or claims, Maryland state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The second bar shows the rates with homeowner, safe-driver, multiple vehicle, vehicle safety, passive restraint, and defensive driving course discounts applied. With discounts applied, theaverage amount saved on insurance for government employees is 28% or $559.
Finding the highest-rated company can be rather challenging considering how many choices there are in Maryland. The ranking information listed below could help you decide which coverage providers you want to consider comparing rate quotes with.
The ratings below are only comprised of large insurance companies, so companies that have a smaller presence are not taken into consideration for this list. To get price quotes from these and other top-rated companies, follow this link.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Low rates today, overpriced tomorrow
Baltimore insurance rates are determined by lots of factors that can increase the price you pay. Simply having another birthday, buying another vehicle, or getting a DUI can cause premium changes that can now make some companies much cheaper than others. Additionally, insurance companies change their prices without warning in order to offset underwriting gains or losses. Higher than normal claims can cause more expensive prices, while long-term profits may produce cheaper Baltimore car insurance rates.
To illustrate this example, the bar chart below shows the cheapest car insurance in Baltimore, MD for a 35-year-old male driver with no prior accidents, a clean driving record, and a good credit history. Based on his current rating profile, USAA quotes the cheapest car insurance rates in Baltimore at $1,730 per year. This is $171 more than the average premium paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto are also included in the cheapest Baltimore, MD auto insurance companies.
In this example, we will give the driver in the first example some claims, a lower credit rating, and a few blemishes on his driving record. Since each company uses their own method to determining premium rates, analyzing rate quotes could now result in a slightly different list of the cheapest Baltimore car insurance companies as shown below.
MetLife now has the best insurance rate in Baltimore, MD with Nationwide, Travelers, GEICO, and Liberty Mutual completing the list. This example illustrates why consumers need to take the time to perform a complete rate comparison to get the most economical car insurance rates for government employees. Insurance prices can be determined by many things and can change substantially, so the most affordable company the last time you shopped around may now be an over-priced policy.