Cheapest Insurance for a Mazda CX-7 in Baltimore

The easiest way to find the cheapest price for Mazda CX-7 insurance is to compare prices once a year from insurance carriers who can sell car insurance in Baltimore.

• Step 1: Get an understanding of individual coverages and the measures you can control to prevent rate increases. Many risk factors that drive up the price like speeding and an unfavorable credit rating can be remedied by making minor driving habit or lifestyle changes. Later in this article we will cover tips to help reduce premium rates and find possible discounts that are available.
• Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from a single company like GEICO or Allstate, while independent agents can quote rates from multiple sources.
• Step 3: Compare the new rate quotes to your existing coverage and see if you can save money. If you find a lower rate, make sure coverage does not lapse between policies.
• Step 4: Tell your current agent or company of your intent to cancel your current car insurance policy and submit a completed application and payment to the new insurer. Be sure to place the new certificate of insurance in a readily accessible location in your vehicle.

One key aspect of rate comparisons is to try to use the same level of coverage on every quote and and to get price estimates from as many companies as possible. This provides a fair rate comparison and a complete price analysis.

Shocking but true, a large majority of auto insurance policyholders kept their policy with the same company for at least four years, and almost half have never compared auto insurance rates at all. The average driver in Baltimore could cut their rates by almost 55% a year, but they just feel it’s too hard to compare rates online.

When quoting auto insurance, remember that obtaining a wide range of quotes will improve the odds of getting the best offered rates. Not every company provides online price quotes, so it’s important to compare rates from them as well.

The providers in the list below provide comparison quotes in Maryland. In order to find the best auto insurance in Baltimore, it’s a good idea that you compare several of them to get the best price comparison.

Insurance coverage analysis

The data table displayed next outlines detailed analysis of insurance rates for Mazda CX-7 models. Knowing how auto insurance policy rates are established can benefit drivers when making decisions when shopping around.

Data rating is based on married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Premium costs do not factor in specific location which can lower or raise premium rates significantly.

Physical damage deductible comparison

The hardest decision when buying coverage is which comprehensive and collision deductibles to buy. The data tables below can help you visualize the rate differences of buying low and high comp and collision deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second price grid uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Premium costs do not factor in specific Baltimore garaging location which can increase or decrease prices considerably.

We can estimate from the data above that using a $100 deductible costs an average of $29 more each month or $348 for a full year than buying the higher $500 deductible. Because you would pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you average more than 14 months between claims, you would save money by selecting a higher deductible. The illustration below shows a better example of how you can come to your own conclusion.

One important issue to know is that higher deductibles results in having to pay to pay more out-of-pocket when you have to file a claim. That will force you to have some money saved in the event you have to pay the higher deductible in order to repair your vehicle.

Mazda CX-7 full coverage rates compared to liability only

The example below illustrates the comparison of Mazda CX-7 car insurance rates when comparing full coverage to state minimum liability only. The information is based on no claims, a clean driving record, $250 deductibles, marital status is single, and no additional discounts are factored in.

When to drop comprehensive and collision coverage

There is no definitive rule of when to phase out comp and collision coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let’s assume your Mazda CX-7 replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $3,000 after paying the physical damage deductible. If you are currently paying more than $300 annually to have full coverage, then it might be time to buy liability only.

There are a few cases where removing full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not drop full coverage.

Take these five policy discounts and save on Mazda CX-7 insurance in Baltimore

Properly insuring your vehicles can get expensive, but you may qualify for discounts that can help lower your rates. Certain discounts will be triggered automatically when you get a quote, but some may not be applied and must be inquired about prior to receiving the credit.

• Braking Control Discount – Anti-lock brake equipped vehicles are safer to drive so you can save 10 percent or more.
• Payment Method – By paying your policy upfront instead of monthly or quarterly installments you can actually save on your bill.
• Employee of Federal Government – Being employed by or retired from a federal job may reduce rates when you quote Baltimore auto insurance with select insurance companies.
• Multi-Vehicle Discounts – Insuring multiple vehicles on the same insurance policy qualifies for this discount.
• Seat Belts Save more than Lives – Requiring all passengers to buckle their seat belts could cut 10% or more off PIP or medical payments premium.

It’s important to understand that many deductions do not apply to your bottom line cost. Most only cut the price of certain insurance coverages like liability and collision coverage. Despite the appearance that you could get a free insurance policy, company stockholders wouldn’t be very happy.

The chart below compares Mazda CX-7 car insurance costs with and without discounts applied to the policy premium. The costs are based on a male driver, a clean driving record, no claims, Maryland state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-car, safe-driver, multi-policy, and homeowner discounts applied.

For a list of insurance companies that offer some of these discounts in Baltimore, follow this link.

Auto insurance protects more than just your car

Even though Baltimore CX-7 insurance rates can get expensive, insuring your vehicle is mandatory in Maryland but it also protects more than you think.

• Most states have mandatory liability insurance requirements which means you are required to buy specific minimum amounts of liability coverage if you don’t want to risk a ticket. 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 your Mazda CX-7 has a lienholder, more than likely the lender will make it mandatory that you buy full coverage to guarantee their interest in the vehicle. If you default on your policy, the lender may have to buy a policy to insure your Mazda at a more expensive rate and require you to fork over for the much more expensive policy.
• Auto insurance protects both your vehicle and your assets. Insurance will pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance also pays for attorney fees and expenses if you are sued as the result of an accident. If your vehicle suffers damage from an accident or hail, your auto insurance policy will cover the damage repairs after a deductible is paid.

The benefits of insuring your CX-7 definitely exceed the price paid, particularly if you ever have a claim. According to a survey of 1,000 drivers, the average driver overpays more than $750 every year so you should quote rates once a year at a minimum to be sure current rates are still competitive.

Local Baltimore insurance agents and insurance

Certain consumers still like to go talk to an agent and that can be a smart move An additional benefit of comparing insurance online is that drivers can save money and get cheap insurance rates and still buy from a local agent. And providing support for local agencies is important especially in Baltimore.

To make it easy to find an agent, after completing this quick form, the coverage information gets sent to local insurance agents in Baltimore who will give competitive quotes for your business. You won’t even need to do any legwork because quoted prices will be sent to your email. You can find the lowest rates and an insurance agent to talk to. If you need to compare prices from one company in particular, don’t hesitate to jump over to their website and fill out their quote form.

Compare rates from both independent and exclusive auto insurance agents

If you are searching for a good Baltimore insurance agent, there are two types of agencies and how they can service your needs differently. Agents in Baltimore may be either independent agents or exclusive agents.

Independent Insurance Agencies or Brokers

Agents that elect to be independent are not locked into one company and that allows them to write policies through many different insurance companies and find the cheapest insurance rates. To transfer your coverage to a different company, your policy is moved internally without you having to go to a different agency. If you need lower rates, you will definitely want to compare prices from several independent agencies to have the best price comparison.

The following are Baltimore independent agents that may be able to provide free insurance quotes.

View more Baltimore agents

Exclusive Agents

Agents that elect to be exclusive generally can only insure with one company such as AAA, Allstate, and State Farm. These agents are not able to compare rates from other companies so they are skilled at selling on more than just price. Exclusive insurance agents are very knowledgeable on the products they sell which helps them sell insurance even at higher premiums.

Below is a list of exclusive agents in Baltimore willing to provide rate quotes.

View more Baltimore agents

Choosing the best insurance agency requires more thought than just the premium amount. Ask your prospective agent these questions:

• Are there any discounts for paying up front?
• Is auto insurance their primary focus in Baltimore?
• Do they offer claims assistance after hours?
• How long has their agency been open in Baltimore?
• What company do they have the most business with?

Once you have satisfactory answers to your questions as well as a affordable price, it’s possible that you found a car insurance agent that meets the requirements to properly service your insurance policy. Keep in mind you can terminate your policy for any reason so don’t think that you are obligated to any particular company for a certain time period.

Insurance coverages and their meanings

Having a good grasp of your insurance policy can be of help when determining which coverages you need at the best deductibles and correct limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverages available from insurance companies.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Mazda CX-7.

Because many people only carry the minimum required liability limits (30/60/15), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Comprehensive auto coverage

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things such as hitting a deer, hail damage, falling objects, vandalism and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Liability coverages

This coverage provides protection from damage or injury you incur to a person or their property. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 30/60/15 that means you have a $30,000 limit per person for injuries, $60,000 for the entire accident, and $15,000 of coverage for damaged property. Some companies may use a combined limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage pays for claims such as loss of income, funeral expenses, repair costs for stationary objects and bail bonds. The amount of liability coverage you purchase is up to you, but consider buying as high a limit as you can afford. Maryland state minimum liability requirements are 30/60/15 but it’s recommended drivers buy more liability than the minimum.

The next chart shows why low liability limits may not be high enough to cover claims.

Medical payments and PIP coverage

Medical payments and Personal Injury Protection insurance pay for bills such as rehabilitation expenses, EMT expenses, ambulance fees, doctor visits and surgery. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover you and your occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage

Auto collision coverage

This coverage pays to fix your vehicle from damage caused by collision with another car or object. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things such as damaging your car on a curb, crashing into a building, scraping a guard rail and colliding with another moving vehicle. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to choose a higher deductible on your CX-7 in order to get cheaper collision rates.