We don’t have to tell you that car insurance companies don’t want policyholders to shop around. Drivers who shop around for cheaper prices will presumably move their business because of the good chance of finding coverage at a more affordable price. Surprisingly, a recent survey revealed that people who compared rate quotes regularly saved as much as $72 a month compared to policyholders who never shopped around for cheaper prices.
If saving money on auto insurance in Baltimore is your objective, then having some insight into how to shop and compare insurance rates can make it easier to shop your coverage around.
Really, the only way to get affordable car insurance rates is to regularly compare quotes from insurance carriers who provide car insurance in Baltimore. You can compare prices by completing these steps.
- Step 1: It will benefit you to learn about what coverages are included in your policy and the steps you can take to keep rates in check. Many things that cause high rates such as getting speeding tickets and a less-than-favorable credit score can be amended by paying attention to minor details. Continue reading for the details to get better rates and get bigger discounts that may have been overlooked.
- Step 2: Obtain price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like GEICO or State Farm, while agents who are independent can provide rate quotes from multiple insurance companies.
- Step 3: Compare the price quotes to your existing policy and determine if there is any savings. If you find a better price and change companies, make sure coverage does not lapse between policies.
- Step 4: Provide adequate notice to your current company of your intent to cancel your current car insurance policy and submit payment along with a signed and completed policy application to the new company. Once the application is submitted, keep your new certificate verifying coverage in an accessible location in your vehicle.
An important bit of advice to remember is to try to use the same deductibles and limits on each price quote and to quote with as many carriers as you can. This ensures a fair rate comparison and the best price selection.
If you have a policy now or just want to reduce your rates, use these techniques to find the best rates while maximizing coverage. Buying affordable insurance in Baltimore can be easy if you know a few tricks. Shoppers just need to know the best way to compare prices on the web.
Most major insurance companies make it easy to get coverage price quotes online. Doing online quotes for Nissan GT-R insurance in Baltimore is fairly simple as you simply enter your required coverages on the page. Behind the scenes, their system gets your credit score and driving record and returns a price. Quoting online for Nissan GT-R insurance in Baltimore helps simplify price comparisons, and it’s very important to compare as many rates as possible in order to find the best rate possible.
To find out how much you can save on auto insurance, take a look at the companies shown below. To compare your current rates, we recommend you enter deductibles and limits exactly as shown on your declarations page. Using the same limits helps guarantee you are getting comparison quotes for similar coverage.
The companies shown below have been selected to offer price comparisons in Baltimore, MD. If you want to find the cheapest car insurance in Baltimore, it’s a good idea that you visit two to three different companies to get a more complete price comparison.
Insurance rate breakdown
The table shown below outlines estimates of insurance costs for Nissan GT-R models. Learning as much as possible about how premiums are formulated is important for drivers to make smart choices when buying a car insurance policy.
|GT-R Premium AWD 2-Dr
|GT-R AWD 2-Dr
|Get Your Own Custom Quote Go
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Premium amounts do not factor in zip code location which can raise or lower rates significantly.
When buying car insurance, a common question is the level to set your comp and collision deductibles. The following tables sum up the rate fluctuation when you choose different deductibles. The first table uses a $100 deductible for comp and collision and the second price grid uses a $500 deductible.
|GT-R Premium AWD 2-Dr
|GT-R AWD 2-Dr
|Get Your Own Custom Quote Go
|GT-R Premium AWD 2-Dr
|GT-R AWD 2-Dr
|Get Your Own Custom Quote Go
Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in garaging location in Baltimore which can raise or lower premiums significantly.
Based on the figures above, using a $100 deductible would cost the average driver about $50 more each month or $600 each year than choosing the higher $500 deductible. Since you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 8 months between claims, you would probably come out ahead if you decide on a higher deductible.
How to decide to raise your deductibles
|Average monthly premium for $100 deductibles:
|Average monthly premium for $500 deductibles (subtract):
|Monthly savings from raising deductible:
|Difference between deductibles ($500 – $100):
|Divide difference by monthly savings:
|$400 / $50
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible
An important thing to remember is that higher deductibles results in a higher out-of-pocket expense when you file a claim. It will be required that you have some non-essential savings in order to pay the higher deductible in order to repair your vehicle.
Driving violations and accidents
The chart below shows how speeding tickets and at-fault fender-benders can increase Nissan GT-R insurance rates for each different age group. The data assumes a married male driver, comp and collision included, $500 deductibles, and no other discounts are factored in.
Nissan GT-R liability rates compared to full coverage
The illustration below compares Nissan GT-R insurance costs with liability coverage only compared to full coverage. The premiums assume no accidents, no driving violations, $1,000 deductibles, single status, and no additional discounts are factored in.
When to stop paying for full coverage
There isn’t a steadfast formula of when to drop full coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s assume your Nissan GT-R book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $2,000 after the policy deductible has been paid. If you are paying in excess of $200 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.
There are some situations where dropping physical damage coverage is not advised. If you haven’t paid off your loan, 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 consider dropping full coverage.
Auto insurance is an important decision
Despite the high cost, paying for auto insurance may not be optional for several reasons.
- Almost all states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability in order to drive the car. 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 Nissan GT-R with a loan, almost every bank will require that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank may insure your Nissan at a more expensive rate and require you to pay for the much more expensive policy.
- Auto insurance protects not only your Nissan GT-R but also your assets. It will also reimburse you for medical bills for you, any passengers, and anyone injured in an accident. As part of your policy, liability insurance also covers legal expenses if you are sued as the result of your driving. If mother nature or an accident damages your car, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.
The benefits of buying enough insurance more than offset the price you pay, especially when you need to use it. Despite what companies tell you, the average driver is overpaying over $869 every year so smart consumers compare quotes once a year at a minimum to save money.
Informed Drivers Can Save Money
Consumers need to have an understanding of the factors that aid in calculating the level of your policy premiums. If you know what determines premiums, this enables you to make decisions that can help you get lower car insurance prices.
- Good credit equals lower rates – Credit history is a big factor in determining premium rates. If your credit can be improved, you could be paying less to insure your Nissan GT-R by repairing your credit. Drivers who have high credit ratings tend to file fewer claims than drivers who have lower credit ratings.
- Buy as much liability as you can afford – The liability coverage on your policy is the protection if a jury decides you are liable for personal injury or accident damage. This coverage provides for a legal defense which can cost a lot. This coverage is very inexpensive when compared with rates for comp and collision, so do not cut corners here.
High performance vehicles cost more to insure – The make and model of the car or truck you own makes a significant difference in your premium level. The best insurance prices are usually for lower performance four cylinder passenger models, but the cost you end up paying is determined by many additional factors.
The chart below uses these assumptions: married male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It illustrates Nissan GT-R rates compared to other models of vehicles that have different performance rating factors.
- Where do you drive? – Driving more miles each year the more you’ll pay to insure your vehicle. A lot of insurance companies calculate prices based upon how you use the vehicle. Vehicles that have low annual miles get more affordable rates than those that get driven frequently. Having the wrong rating on your GT-R is throwing money out the window. Make sure your car insurance policy reflects the correct usage for each vehicle, because it can save money.
Insurance loss probability for a Nissan GT-R – Insurers analyze claim trends for every vehicle when setting premium rates. Models that statistically have higher frequency or amount of claims will be charged more to insure.
The table below demonstrates the historical loss data for Nissan GT-R vehicles. For each policy coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is a value of 100. Numbers that are below 100 indicate better than average losses, while numbers above 100 indicate higher probability of having a loss or an increased chance of a larger loss.
Insurance Loss Ratings for Nissan GT-R Vehicles Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Nissan GT-R 2dr 4WD 373 82 317BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lower your auto insurance rates with discounts
Some insurance providers don’t always publicize all their discounts very well, so the following is a list of some of the best known and also the lesser-known credits that may apply to you.
- Pay Upfront and Save – If you pay your entire premium ahead of time as opposed to paying monthly you may reduce your total bill.
- Good Grades Discount – A discount for being a good student may save you up to 25%. The discount lasts well after school through age 25.
- Anti-lock Brake Discount – Cars and trucks with anti-lock braking systems can stop better under adverse conditions so companies give up to a 10% discount.
- Drive Less and Save – Driving less may allow you to get lower prices due to less chance of an accident.
- Anti-theft System – Anti-theft and alarm system equipped vehicles prevent vehicle theft and therefore earn up to a 10% discount.
- Discount for Life Insurance – If the company offers life insurance, you could get lower rates if you buy life insurance from them.
- Savings for New Vehicles – Buying insurance on a new vehicle can get you a discount because new vehicles are generally safer.
- Switch and Save Discount – Some insurance companies reward drivers for switching companies before your current GT-R insurance policy expires. It’s a savings of about 10%.
- Telematics Data – Policyholders that allow driving data collection to spy on driving manner by using a small device installed in their vehicle like In-Drive from State Farm and Progressive’s Snapshot may get a rate reduction as long as the data is positive.
It’s important to note that some of the credits will not apply to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as comprehensive or collision. Even though it may seem like having all the discounts means you get insurance for free, you won’t be that lucky. But any discount should definitely cut the amount you have to pay.
The information below illustrates the difference between Nissan GT-R car insurance costs with and without discounts applied. The premium estimates are based on a female driver, no accidents or driving violations, Maryland state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, multi-policy, claim-free, safe-driver, and marriage discounts applied.
Auto insurance companies who may offer many of the previously listed discounts include:
When getting a coverage quote, ask each company what discounts are available to you. Some discounts listed above might not be offered in Baltimore. If you would like to view auto insurance companies that offer some of these discounts in Maryland, click here to view.
Independent versus exclusive car insurance agents
Some people still like to sit down and talk to an agent and that is not a bad decision Good insurance agents can help you choose the best coverages and help in the event of a claim. An additional benefit of comparing insurance prices online is you can get lower auto insurance rates and also buy local.
Once you complete this form (opens in new window), your information is transmitted to participating agents in Baltimore who want to provide quotes and help you find cheaper coverage. It’s much easier because you don’t need to visit any agencies because prices are sent to you. In the event you want to get a comparison quote from one company in particular, feel free to find their quoting web page to submit a rate quote request.
Finding a good insurance company requires more thought than just the bottom line cost. Here are some questions to ask:
- Do they get paid more for recommending certain coverages?
- Will one accident increase rates?
- What discounts might you be missing?
- Did they already check your driving record and credit reports?
- Where would glass claims be handled in Baltimore?
- Does their agency support local causes in Baltimore?
- What will you get paid if your car is a total loss? How is that amount determined?
Auto insurance companies ranked
Ending up with a good quality company can be a challenge considering how many companies there are in Baltimore. The company ratings below could help you choose which car insurance providers you want to consider buying from.
Top 10 Baltimore Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Baltimore Car Insurance Companies Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
Find cheaper auto insurance rates by comparing often
When trying to cut insurance costs, make sure you don’t skimp on coverage in order to save money. There are a lot of situations where drivers have reduced liability coverage limits and discovered at claim time that it was a big mistake. Your strategy should be to get the best coverage possible at an affordable rate and still be able to protect your assets.
Budget-friendly auto insurance in Baltimore can be sourced from both online companies as well as from independent agents in Baltimore, and you should compare price quotes from both to have the best selection. A few companies may not provide the ability to get a quote online and usually these regional carriers only sell through independent agencies.
Throughout this article, we presented a lot of techniques to get a better price on Nissan GT-R insurance in Baltimore. The key concept to understand is the more times you quote, the better your chances of lowering your prices. Consumers could even find that the biggest savings come from a small mutual company. They often have lower prices on specific markets as compared to the big name companies such as Allstate and Progressive.
To learn more, feel free to visit the articles below:
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Who Has the Cheapest Car Insurance Rates for Infrequent Drivers in Baltimore? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Electric Cars in Baltimore? (FAQ)
- Who Has Affordable Baltimore Car Insurance Rates for Lyft Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance for Postal Workers in Baltimore? (FAQ)
- Who Has Cheap Car Insurance Rates for a Hyundai Elantra in Baltimore? (FAQ)
- How Much is Auto Insurance for College Graduates in Baltimore? (FAQ)
- What is a Telematics Device? (Allstate)
- What is Full Coverage? (Allstate)