Finding the cheapest insurance for a Kia Rio in Maryland can be difficult, but you can learn the following methods to find lower rates. There are more efficient ways to shop for auto insurance and we’ll show you the absolute fastest way to price shop coverage on a Kia and get the cheapest rates from both online companies and Baltimore agents.
Finding more affordable auto insurance rates is a great way to save money. Drivers just need to invest a little time comparing price quotes to find out which insurance company has affordable Baltimore auto insurance quotes.
The companies shown below can provide quotes in Baltimore, MD. In order to find the best car insurance in Baltimore, MD, it’s highly recommended you visit two to three different companies to get a more complete price comparison.
Auto insurance statistics for a Kia Rio
The table displayed below covers estimates of coverage prices for Kia Rio models. Knowing how auto insurance premiums are established is important to be able to make informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Estimates do not factor in specific zip code location which can alter premiums significantly.
Safe drivers pay cheaper rates
The chart below shows how speeding tickets and at-fault accidents can affect Kia Rio car insurance costs for different ages of insureds. The rate quotes are based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are applied.
Auto insurance prices based on gender
The chart below shows the comparison of Kia Rio insurance prices for male and female drivers. The rates are based on a clean driving record, no at-fault accidents, full coverage, $500 deductibles, drivers are not married, and no policy discounts are applied.
Rate comparison of full coverage and liability-only
The illustration below compares Kia Rio car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no claims or violations, $500 deductibles, single marital status, and no discounts are applied to the premium.
When to drop full coverage
There is no clear-cut formula to drop comp and collision coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Kia Rio settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, you would only receive $3,000 after the policy deductible has been paid. If you are currently paying more than $300 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are a few cases where dropping physical damage coverage is not financially feasible. If you still owe a portion of the original loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage.
Here’s why car insurance is not optional
Despite the potentially high cost of Kia Rio insurance, paying for car insurance may be required for several reasons.
- Almost all states have minimum mandated liability insurance limits which means you are required to carry specific minimum amounts of liability coverage if you want to drive legally. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you bought your Kia Rio with a loan, most banks will require that you have insurance to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the bank will be required to insure your Kia for a lot more money and force you to pay the higher premium.
- Car insurance preserves not only your vehicle but also your financial assets. It also can pay for medical bills for not only you but also any passengers injured in an accident. Liability coverage also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If you have damage to your Kia as the result of the weather or an accident, your policy will pay to have it repaired.
The benefits of having car insurance outweigh the cost, especially if you ever need it. On average, a vehicle owner in Baltimore is overpaying more than $830 a year so you should quote rates at least once a year to ensure rates are competitive.
Five Tips to Get Cheap Baltimore Insurance Prices
Consumers need to have an understanding of some of the things that help determine car insurance rates. When you know what positively or negatively controls the rates you pay, this enables informed choices that can help you get lower car insurance prices. Many factors are used when you get a price on insurance. A few of the factors are predictable like your driving record, but some are more transparent like where you live and annual miles driven.
Listed below are a few of the “ingredients” utilized by car insurance companies to help set rates.
Claim-free discounts can add up – If you are a frequent claim filer, don’t be surprised to see either policy cancellation or increased premiums. Insurance companies in Maryland give discounts to insureds who file claims infrequently. Insurance coverage is designed for the large, substantial claims.
Cars with good safety ratings cost less to insure – Cars with five star safety ratings are cheaper to insure. Highly rated vehicles result in less severe injuries and better occupant protection translates directly to fewer claims passed on to you as lower rates. If your Kia scored better than four stars on Safercar.gov it may cost less to insure.
High credit rating translates to low prices – Your credit score can be a huge factor in determining premium rates. People that have very good credit scores tend to file fewer claims than drivers with lower credit scores. So if your credit rating could use some work, you could be paying less to insure your Kia Rio by spending a little time repairing your credit.
Lower performance equals lower insurance rates – The make and model of the car you are buying insurance for makes a substantial difference in your car insurance bill. Lower cost passenger cars usually are quite affordable to insure, but that’s not the only thing that factors into the final price.
The chart below uses these variables: married female driver age 30, full coverage with $250 deductibles, and no discounts or violations. It compares Kia Rio insurance rates compared to other vehicles that have a range of performance risks.
Does your occupation raise your rates? – Did you know your job can affect your rates? Jobs such as fire fighters, airline pilots, and stock brokers generally pay higher rates than average due to high stress and incredibly demanding work hours. Conversely, careers like farmers, athletes and the unemployed have the lowest average rates.
Kia Rio claim statistics – Insurance companies use past insurance losses when determining insurance costs. Vehicles that have increased losses will have higher rates for specific coverages. The table below outlines the historical insurance loss data for Kia Rio vehicles.
For each insurance policy coverage type, the claim probability for all vehicles combined as an average is set at 100. Numbers below 100 mean the vehicle has better than average losses, while numbers above 100 indicate more frequent losses or statistically larger claims.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
Statistics from IIHS.org for 2013-2015 Model Years
As you prepare to switch companies, it’s a bad idea to buy less coverage just to save a little money. There have been many cases where drivers have reduced liability coverage limits only to regret at claim time that the small savings ended up costing them much more. Your goal should be to find the BEST coverage for the lowest price but still have enough coverage for asset protection.
Discount Kia Rio insurance in Baltimore can be found from both online companies and from local insurance agents, and you should compare rates from both to have the best selection. Some insurance providers don’t offer the ability to get a quote online and many times these regional carriers only sell coverage through local independent agencies.
People change insurance companies for any number of reasons including delays in responding to claim requests, denial of a claim, lack of trust in their agent and being labeled a high risk driver. It doesn’t matter what your reason, finding a new company can be less work than you think.
How to find discount Kia Rio insurance in Baltimore
If your goal is the lowest price, then the best way to find discount Kia Rio insurance is to compare quotes once a year from providers that sell auto insurance in Baltimore.
- Take a few minutes and learn about how car insurance works and the measures you can control to keep rates down. Many rating factors that cause rate increases such as getting speeding tickets and a bad credit rating can be improved by improving your driving habits or financial responsibility.
- Compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can provide price quotes from multiple companies. Find a Baltimore insurance agent
- Compare the new rates to your existing rates to see if you can save by switching companies. If you find a lower rate quote and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
A crucial key to this process is that you’ll want to make sure you compare identical coverage information on every quote and and to get quotes from as many car insurance companies as possible. This helps ensure a fair rate comparison and maximum price selection.
- Understanding Rental Car Insurance (Insurance Information Institute)
- Who Has Affordable Baltimore Car Insurance Rates for 17 Year Olds? (FAQ)
- Who Has Affordable Car Insurance for Homeowners in Baltimore? (FAQ)
- Information for Teen Drivers (GEICO)
- Keeping Children Safe in Crashes Video (iihs.org)
- What if I Can’t Find Coverage? (Insurance Information Institute)