How long has it been since you shopped around for the cheapest Honda CR-V insurance in Baltimore? Feeling guilty for buying an underperforming, overpriced insurance policy? It's quite common and many Baltimore consumers feel financially strained by their insurance policy.
Shocking but true, over 70% of consumers kept buying from the same company for well over three years, and nearly half have never even shopped around for lower-cost coverage. Many drivers in the U.S. could save 46.5% a year by just comparing quotes, but they don't know how much money they would save if they moved their coverage to a different company.
You have so many insurance companies to choose from, and although it's a good thing to have a choice, so many choices can make it hard to get the best deal for Honda CR-V insurance in Baltimore.
It's a good idea to quote other rates every six months since prices go up and down regularly. Even if you think you had the best deal on Honda CR-V insurance in Baltimore a few years ago other companies may now be cheaper. Block out anything you think you know about insurance because you're about to learn one of the best ways to buy cheaper Honda CR-V insurance in Baltimore.
Locating the best rates in Baltimore is actually very simple if you learn how to start. Just about everyone who is looking for a better price on car insurance will most likely be able to cut their insurance bill. But Maryland car owners can benefit by having an understanding of the way insurance companies compete online because rates are impacted by many factors.
Lower Your Baltimore Insurance Rates
When buying insurance it's important to understand the rating factors that play a part in calculating your policy premiums. When you understand what positively or negatively impacts your premiums, this allows you to make good choices that could result in cheaper rates. Lots of things are part of the equation when you quote your car insurance policy. Some are obvious such as your driving record, although some other factors are not quite as obvious like your continuous coverage or how financially stable you are.
Shown below are a partial list of the pieces that factor into prices.
Better prices for continuous insurance coverage - Letting your insurance expire will be a fast way to trigger a rate increase. And not only will your rates increase, not being able to provide proof of insurance can result in a hefty fine and possibly a revoked license. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the Maryland motor vehicle department.
Pay less after the wedding - Having a spouse helps lower the price on your policy. Having a significant other may mean you are more mature it has been statistically shown that married drivers tend to file fewer claims.
How credit score affects insurance premiums - Your credit rating is a big factor in determining your rates. If your credit rating can be improved, you could be paying less to insure your Honda CR-V if you clean up your credit. Consumers who have good credit tend to be better drivers and file fewer claims than drivers who have lower credit scores.
Too many insurance claims drive up premiums - Companies in Maryland give lower rates to insureds who file claims infrequently. If you are a frequent claim filer, you can pretty much guarantee much higher rates or policy non-renewal. Insurance coverage is intended for the bigger claims that can't be paid out-of-pocket.
Insurance loss data for Honda CR-V vehicles - Auto insurance companies include the past claim history for a vehicle to help calculate a profitable premium price. Vehicles that have increased losses will cost more to insure. The information below illustrates the compiled insurance loss statistics for Honda CR-V vehicles.
For each coverage type, the loss probability for all vehicles, regardless of make or model, is a value of 100. Percentage values below 100 suggest losses that are better than average, while numbers shown that are more than 100 indicate frequent claims or statistically larger claims.
Insurance Loss Ratings for Honda CR-V Vehicles
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Honda CR-V 4dr 2WD||68||81||58||93||86||77|
|Honda CR-V 4dr 4WD||69||82||69||90||87||78|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Honda CR-V insurance quotes comparison
Many insurance companies provide pricing directly from their websites. Doing online price comparisons for Honda CR-V insurance in Baltimore is very simple as you just type in the coverages you want as detailed in the form. Once you submit the form, their quoting system orders your credit score and driving record and returns pricing information based on these factors. Quoting online for Honda CR-V insurance in Baltimore makes it simple to compare prices and it is important to do this in order to find a lower rate.
To save time and fill out one form to compare multiple rates now, compare rates now from the companies shown below. If you have your current policy handy, we recommend that you enter the coverages exactly as they are listed on your policy. This way, you will have comparison quotes based on identical coverages.
The companies shown below are ready to provide free quotes in Maryland. If more than one company is shown, we suggest you visit two to three different companies in order to find the most affordable rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CR-V LX 2WD||$168||$274||$346||$20||$104||$912||$76|
|CR-V EX 2WD||$262||$492||$448||$26||$134||$1,362||$114|
|CR-V LX 4WD||$348||$518||$452||$26||$136||$1,480||$123|
|CR-V EX 4WD||$152||$232||$332||$20||$100||$836||$70|
|CR-V EX-L 2WD||$342||$596||$418||$24||$126||$1,506||$126|
|CR-V EX-L 4WD||$220||$360||$390||$24||$116||$1,110||$93|
|Get Your Own Custom Quote Go|
Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Rate quotes do not factor in the specific area where the vehicle is garaged which can lower or raise auto insurance rates considerably.
Honda CR-V insurance costs by age and gender
The information below shows the comparison of Honda CR-V insurance costs for male and female drivers. The rates are based on no accidents or driving violations, full physical damage coverage, $1,000 deductibles, marital status is single, and no discounts are factored in.
Safe drivers pay cheaper rates
The chart below illustrates how violations and accident claims influence Honda CR-V insurance premiums for each age group. The information is based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
Rate difference between full and liability-only coverage
The information below visualizes the comparison of Honda CR-V auto insurance rates with full coverage and liability only. The data is based on no violations or accidents, $1,000 deductibles, married female driver, and no discounts are taken into consideration.
Deciding between full coverage and liability only
There is no clear-cut rule of when to stop paying for physical damage coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to buy liability only.
For example, let's assume your Honda CR-V replacement cost is $9,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,000 after the policy deductible has been paid. If it's costing in excess of $800 a year for your policy with full coverage, then it could be time to drop full coverage.
There are a few cases where dropping full coverage is not advised. If you still have a lienholder on your title, you have to carry full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage.
Three good reasons to insure your CR-V
Despite the high cost, buying insurance is required for several reasons.
- Almost all states have mandatory insurance requirements which means state laws require a 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 your CR-V has a loan, almost all lenders will make it mandatory that you carry insurance to guarantee payment of the loan. If you let the policy lapse, the lender will be forced to insure your Honda at a significantly higher premium and make you pay for it.
- Insurance preserves both your assets and your Honda. It will also cover medical expenses for both you and anyone you injure as the result of an accident. Liability coverage will also pay for a defense attorney if you cause an accident and are sued. If you have damage to your Honda as the result of the weather or an accident, your policy will cover the repair costs.
The benefits of buying enough insurance outweigh the cost, especially when you need to use it. According to a survey of 1,000 drivers, the average driver overpays as much as $869 every year so smart consumers compare quotes once a year at a minimum to make sure the price is not too high.
Lower-cost Honda CR-V insurance quotes in Baltimore
Car insurance companies don't always list every disount available in a way that's easy to find, so we break down a few of the more well known and the harder-to-find discounts that you may qualify for. If you check and find you aren't receiving every discount you qualify for, you are not getting the best rate possible.
- Drive Safe and Save - Insureds who avoid accidents can save up to 40% or more on their Baltimore auto insurance quote than drivers with accident claims.
- Distant Student Discount - Youth drivers who live away from home at college and do not take a car to college could get you a discount.
- Pay Early and Save - By paying your policy upfront instead of paying each month you could save up to 5%.
- Senior Citizen Discount - Seniors could receive a small decrease in premiums.
- Federal Government Employee - Simply working for the federal government may qualify for a discount when you quote Baltimore auto insurance depending on your company.
- Theft Prevention Discount - Vehicles that have factory alarm systems and tracking devices are stolen less frequently and therefore earn up to a 10% discount.
- No Accidents - Baltimore drivers who stay claim-free pay much less as compared to policyholders that have many claims.
- Multi-policy Discount - If you combine your auto and homeowners policies with one insurance company you will save at least 10 to 15 percent or more.
- Buy New and Save - Insuring a new CR-V can be considerably cheaper because newer models have to meet stringent safety requirements.
- More Vehicles More Savings - Buying coverage for more than one vehicle on one policy could earn a price break for each car.
Don't be shocked that most of the big mark downs will not be given to the entire cost. A few only apply to specific coverage prices like liability, collision or medical payments. Despite the appearance that adding up those discounts means a free policy, companies don't profit that way. Any amount of discount will cut your policy cost.
The best car insurance companies and some of the premium reductions they offer can be read below.
- GEICO includes discounts for driver training, emergency military deployment, military active duty, defensive driver, anti-theft, federal employee, and multi-policy.
- Auto-Owners Insurance offers premium reductions for company car, safe driver, anti-theft, good student, student away at school, and anti-lock brakes.
- American Family may have discounts that include TimeAway discount, good student, air bags, multi-vehicle, early bird, Steer into Savings, and defensive driver.
- Esurance policyholders can earn discounts including emergency road assistance, renters, Switch & Save, multi-car, online quote, multi-policy, and DriveSense.
- Progressive may offer discounts for multi-policy, multi-vehicle, online quote discount, online signing, and homeowner.
- State Farm offers discounts including multiple policy, driver's education, accident-free, Drive Safe & Save, good driver, and defensive driving training.
- AAA discounts include good driver, good student, multi-policy, multi-car, pay-in-full, and anti-theft.
When comparing rates, check with each insurance company which credits you are entitled to. Some of the earlier mentioned discounts might not apply in every state. If you would like to view insurance companies with the best Honda CR-V insurance discounts in Baltimore, follow this link.
Comparing rates from local Baltimore insurance agencies
Some consumers still prefer to talk to a local agent and doing that can be a smart decision The best thing about price shopping on the web is you may find cheaper rates and also buy local.
To help locate an agent, after submitting this form (opens in new window), your insurance coverage information is submitted to companies in Baltimore who will give you bids to get your business. You never need to find an agent on your own because prices are sent to you instantly. You can most likely find cheaper rates and an insurance agent to talk to. If you need to get a price quote from one company in particular, you just need to search and find their rate quote page and give them your coverage information.
Deciding on an insurance company should depend on more than just a low price. Below are some questions you should ask.
- Which companies do they recommend if they are an independent agency?
- Is the agency involved in supporting local community causes?
- Do they see any coverage gaps in your plan?
- How are claims handled?
- Are you getting all the discounts the company offers?
When finding a reputable insurance agent or broker, there are a couple of different agency structures and how they are slightly different. Insurance policy providers can either be independent or exclusive.
Exclusive Insurance Agencies
Exclusive agents can only provide one company's prices such as American Family, State Farm, and Allstate. Exclusive agents are unable to compare other company's rates so they have no alternatives for high prices. Exclusive agents are highly trained on sales techniques which helps them compete with independent agents.
The following is a list of exclusive insurance agents in Baltimore that are able to give price quote information.
Agents of this type often have affiliation with several companies and that gives them the ability to insure with multiple insurance companies and find the cheapest insurance rates. If you are not satisfied with one company, they simply move your policy to a different company and the insured can keep the same agent.
When comparison shopping, you need to compare prices from independent agents so that you have a good selection of quotes to compare.
Listed below is a list of independent insurance agencies in Baltimore that are able to give price quotes.
After talking to the agent and getting reasonable responses to these questions and low cost Honda CR-V insurance quotes, you have narrowed it down to an insurance agent that can be trusted to properly insure your vehicles. Just understand that you are able to cancel coverage when you choose so don't feel that you are permanently stuck with any specific agency for a certain time period.
It's not one size fits all
When it comes to insurance from an agent or online for your personal vehicles, there really is no single plan that fits everyone. Everyone's situation is a little different.
These are some specific questions could help you determine if your situation may require specific advice.
- Do I need higher collision deductibles?
- When would I need rental car insurance?
- Am I covered if my car is in a flood?
- Why am I required to buy high-risk coverage?
- Can I rate high risk drivers on liability-only vehicles?
- Does insurance cover damages from a DUI accident?
- What is no-fault insurance?
If you can't answer these questions but you know they apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, simply complete this short form.
A little work can save a LOT of money
Drivers switch companies for a variety of reasons including unfair underwriting practices, policy cancellation, high rates after DUI convictions and not issuing a premium refund. No matter why you want to switch, choosing a new company can be easy and end up saving you some money.
We just covered a lot of ways to find lower-cost Honda CR-V insurance in Baltimore. The most important thing to understand is the more rate quotes you have, the better your chances of lowering your car insurance rates. Consumers could even find that the best price on auto insurance is with some of the smallest insurance companies.
Affordable Honda CR-V insurance in Baltimore can be bought on the web and with local Baltimore insurance agents, so you need to shop Baltimore auto insurance with both to have the best chance of lowering rates. Some auto insurance companies do not provide price quotes online and most of the time these smaller providers work with independent agencies.