Who Has the Cheapest Baltimore Car Insurance for a Toyota RAV4?

Finding cheaper insurance for a Toyota RAV4 in Maryland is usually pretty straightforward, but it depends on a large number of factors such as how old the vehicle is, your credit score, and any prior driving offenses. Drivers in Maryland pay approximately $977 each year for RAV4 insurance, but that cost is a projection based upon a 50-year-old single female driver with full physical damage coverage and $1,000 deductibles.

There’s a good chance you may not be 50 years old (or even female), you might be married instead of single, or you just want cheap liability insurance instead of full coverage. This demonstrates why the best method for finding cheap auto insurance rates for your Toyota is to do the rate comparisons yourself. Comparing quotes is easy and you will be able to compare rates from the best companies that sell coverage in Maryland.

Compare Toyota RAV4 Insurance Rates

Toyota RAV4 Insurance Rates in Baltimore, MD
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $166 $326 $458 $28 $138 $1,116 $93
RAV4 Sport 2WD $166 $326 $458 $28 $138 $1,116 $93
RAV4 4WD $166 $326 $458 $28 $138 $1,116 $93
RAV4 Limited 2WD $166 $326 $458 $28 $138 $1,116 $93
RAV4 Limited 4WD $166 $326 $458 $28 $138 $1,116 $93
RAV4 Limited 4WD $166 $326 $458 $28 $138 $1,116 $93
RAV4 Sport 4WD $166 $326 $458 $28 $138 $1,116 $93
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Estimates do not factor in specific garaging location which can modify insurance rates significantly.

Finding low-cost car insurance is hard enough, and determining which insurers offer the cheapest car insurance rates for a Toyota RAV4 will involve additional perseverance. Each company uses a different method for determining prices, so let’s begin by examining the car insurance companies with the overall best prices in Baltimore, MD.

Lowest Insurance Price Quotes for Your Toyota

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Cheapest Maryland auto insurance companies
Rank Company Cost Per Year
1 USAA $948
2 Liberty Mutual $1,125
3 Penn National $1,137
4 Erie $1,161
5 State Auto $1,214
6 Amica $1,334
7 Nationwide $1,393
8 Travelers $1,398
9 MetLife $1,428
10 GEICO $1,442
11 California Casualty $1,529
12 Allstate $1,662
13 State Farm $1,696
14 Progressive $2,065
15 Encompass $2,592
16 Victoria $2,963
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USAA normally has some of the best car insurance rates in Baltimore at around $948 each year. Liberty Mutual, Penn National, Erie, and State Auto also rank well as some of the best Baltimore, MD insurance companies.

In the rate table above, if you currently buy coverage from Liberty Mutual and switched to USAA, you may realize annual savings of in the neighborhood of $177. Drivers with Penn National may save as much as $189 a year, and Erie customers might reduce rates by $213 a year.

To see if your current coverage is too expensive, click here or quote rates from the companies below.

Remember that these prices are averaged across all ages of drivers and types of vehicles and do not factor in an exact zip code location for a Toyota RAV4. So the auto insurance company that fits your situation best may not even be in the top 16 companies in the list above. That emphasizes why you need to quote rates from many companies using your own specific driver information and vehicle.

The example below shows how choosing a deductible can impact insurance rates when quoting cheap insurance for a Toyota RAV4. The rate quotes are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

A 30-year-old driver could reduce rates by $384 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $582 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, could possibly save up to $824 every year just by choosing higher deductibles when buying full coverage. When insureds make the decision to increase the deductibles on their policy, it is essential to have additional funds in a savings account to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

Full coverage versus liability-only in Baltimore

Lowering the price of car insurance is the goal of most people, and a great way to pay less for insurance for a Toyota RAV4 is to buy only liability coverage. The information below shows the difference between insurance costs with and without physical damage coverage. The prices are based on no accidents, no driving violations, $1,000 deductibles, single status, and no policy discounts are applied.

If averaged for all ages, physical damage coverage on your policy costs an extra $2,011 per year more than carrying just liability coverage. That brings up the question if physical damage coverage is worth the money. There is no written rule for phasing out physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than about 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let’s assume your vehicle’s book value is $11,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $10,000 after the deductible is paid. If it’s costing you more than $1,000 annually for full coverage, then you might want to consider buying only liability coverage.

Tips for finding the cheapest auto insurance for a Toyota RAV4

Here are some of the better penny-pinching suggestions that can help Baltimore drivers buy cheap car insurance.

The last tip is very important, as was pointed out in this piece. Insurance prices can be modified anytime, so don’t be afraid to switch carriers if you can find a cheaper rate.

Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that inflexibility results in costing you thousands of dollars over the life of your policy. In just a couple of minutes you could shop around and find cheaper insurance for a Toyota RAV4 in Baltimore.