If shopping for Baltimore car insurance quotes online is new to you, you may be overwhelmed thanks to the incredible selection of online auto insurance companies and websites all claiming to save you money.
Sad but true, a large majority of drivers have been with the same company for more than four years, and nearly the majority have never compared rate quotes at all. Maryland drivers could save themselves as much as $750 a year by just comparing quotes, but they don't know the large savings they would see if they replace their high priced policy.
It's a good idea to quote other rates on a regular basis due to the fact that insurance prices are variable and change quite frequently. Just because you had the best deal on Honda Insight insurance in Baltimore two years ago there is a good chance you can find better rates now. Block out anything you think you know about auto insurance because I'm going to let you in on the secrets to one of the quickest ways to save money, get proper deductibles and limits, all at the lowest rate.
How Your Insight Insurance Costs are Determined
Multiple criteria are used in the calculation when you get your auto insurance bill. Some are obvious like an MVR report, although others are not quite as obvious like your vehicle usage or how safe your car is.
- Lower rates come with age - Beginning drivers in Maryland are statistically shown to be inattentive and easily distracted behind the wheel so car insurance rates are higher. Mature drivers have been proven to be more responsible, are lower risk to insure, and get fewer tickets.
- Male rates may be higher - Statistics demonstrate that women are safer drivers than men. However, don't assume that females are better at driving than males. Women and men are responsible for at-fault accidents at about the same rate, but the male of the species tend to have more serious accidents. Not only that, but men also receive more costly citations such as reckless driving.
- Know your credit rating - Having a good credit score will be a significant factor in your rate calculation. If your credit score can use some improvement, you could be paying less to insure your Honda Insight by improving your rating. Drivers with very good credit scores tend to be better drivers and file fewer claims than drivers with bad credit.
- Cheap car insurance rates for being claim-free - If you frequently file small claims, you can definitely plan on increased rates or even have your policy non-renewed. Insurance companies in Maryland give most affordable rates to policyholders who file claims infrequently. Insurance coverage is meant to be used in the event of claims that you cannot pay yourself.
When comparison shopping, there are several ways of comparing rate quotes from auto insurance companies in your area. The recommended way to find the lowest Honda Insight rates consists of obtaining rate quotes online.
When quoting auto insurance, remember that comparing a large number of companies helps locate the best price. Not every company provides price estimates online, so you also need to get prices from those companies as well.
The companies shown below are our best choices to provide free quotes in Baltimore, MD. If multiple companies are listed, we recommend you visit as many as you can to get the cheapest price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Premium costs do not factor in specific garaging location which can influence auto insurance rates substantially.
Cost of full coverage
The chart below examines Honda Insight insurance rates with and without full coverage. The rates are based on no claims, a clean driving record, $1,000 deductibles, single male driver, and no discounts are applied to the premium.
When to stop buying full coverage
There is no exact formula to stop paying for physical damage coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let's assume your Honda Insight replacement cost is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after paying your policy deductible. If you are paying more than $400 a year to have full coverage, then it's probably a good time to buy liability coverage only.
There are some scenarios where removing full coverage is not recommended. If you haven't satisfied your loan, you must maintain physical damage coverage in order to keep the loan. Also, if you don't have enough money to buy a different vehicle in the even your car is totaled, you should not buy liability only.
Rate comparison of males versus females in Baltimore
The diagram below shows the difference between Honda Insight car insurance costs for male and female drivers. The premiums assume no violations or claims, comp and collision included, $250 deductibles, drivers are single, and no other discounts are factored in.
Auto insurance does more than just protect your car
Despite the potentially high cost of Honda Insight insurance, insuring your vehicle is required in Maryland but it also protects you in many ways.
- The majority of states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability insurance in order to drive the car 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 have a loan on your vehicle, more than likely the lender will stipulate that you have insurance to ensure they get paid if you total the vehicle. If you let the policy lapse, the bank will be required to insure your Honda for a much higher rate and require you to reimburse them for the expensive policy.
- Auto insurance protects your Honda Insight and your assets. Insurance will pay for all forms of medical expenses that are the result of an accident. Liability insurance also pays expenses related to your legal defense in the event you are sued. If you have damage to your Honda as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your Insight definitely exceed the price paid, specifically if you ever have a liability claim. According to a recent study, the average American driver is overpaying more than $700 annually so shop around each time the policy renews to make sure the price is not too high.
Cheaper Honda Insight insurance in Baltimore
Some insurance providers do not list the entire discount list in an easy-to-find place, so the list below contains both well-publicized and the harder-to-find savings tricks you should be using when you buy Baltimore car insurance online.
- Anti-lock Brake Discount - Cars with ABS and/or traction control prevent accidents and earn discounts up to 10%.
- No Accidents - Claim-free drivers can earn big discounts in comparison to bad drivers.
- College Student Discount - Older children who are enrolled in a college that is more than 100 miles from Baltimore and do not have a car could qualify for this discount.
- Seat Belt Usage - Drivers who always wear seat belts and also require passengers to buckle up before driving could save 15% on the medical payments or PIP coverage costs.
- E-sign - Certain larger companies will give a small break get Baltimore car insurance on the internet.
- Drivers Education - Require your teen driver to successfully complete driver's ed class as it can save substantially.
- Air Bag Discount - Vehicles with factory air bags can qualify for discounts of up to 25% or more.
A little note about advertised discounts, most of the big mark downs will not be given the the whole policy. Most cut the cost of specific coverages such as medical payments or collision. So even though it sounds like you could get a free auto insurance policy, it's just not the way it works.
Popular auto insurance companies and their possible discounts can be read below.
- State Farm has discounts for accident-free, multiple policy, Steer Clear safe driver discount, defensive driving training, driver's education, and good student.
- GEICO includes discounts for federal employee, air bags, five-year accident-free, anti-lock brakes, multi-vehicle, defensive driver, and driver training.
- Allstate has savings for teenSMART discount, EZ pay plan discount, farm vehicle, economy car, and defensive driver.
- SAFECO may have discounts that include anti-lock brakes, accident prevention training, bundle discounts, drive less, safe driver, teen safety rewards, and teen safe driver.
- Farm Bureau discounts include multi-policy, youthful driver, renewal discount, driver training, multi-vehicle, and 55 and retired.
- Progressive policyholders can earn discounts including multi-policy, homeowner, multi-vehicle, online quote discount, good student, and continuous coverage.
- AAA offers discounts for good driver, multi-policy, anti-theft, good student, AAA membership discount, multi-car, and education and occupation.
If you are trying to find inexpensive Baltimore car insurance quotes, ask every company to apply every possible discount. All car insurance discounts might not apply in Baltimore.
Local insurance agents
Some people would prefer to sit down and talk to an agent and that is a personal choice. One of the best bonuses of comparing rate quotes online is that drivers can save money and get lower car insurance rates and still have an agent to talk to. Supporting local insurance agents is especially important in Baltimore.
Once you complete this quick form, your insurance coverage information is immediately sent to local insurance agents in Baltimore who will give you quotes for your business. There is no reason to leave your computer as quotes are delivered straight to your inbox. You can find the lowest rates AND an agent nearby. If you have a need to get a comparison quote for a specific company, you just need to go to their quote page and fill out the quote form the provide.
Choosing the best insurer shouldn't rely on just the premium amount. These are some questions you should get answers to.
- Do they have designations such as AIC, CPCU, or CIC?
- Do they offer rental car reimbursement?
- What is their Better Business Bureau rating?
- Are they paid to recommend certain coverages?
- What are the financial ratings for the companies they represent?
- Do they prorate repair cost based on vehicle mileage?
- Do they write coverage based solely on cost?
- What companies can they write with?
Smart consumers save more
As you restructure your insurance plan, never buy lower coverage limits just to save a few bucks. There are many occasions where someone sacrificed liability limits or collision coverage and learned later that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy a smart amount of coverage at the best possible price, but do not skimp to save money.
Consumers leave their current company for a number of reasons such as high rates after DUI convictions, policy non-renewal, questionable increases in premium and even high prices. It doesn't matter why you want to switch finding a new company is not as difficult as it may seem.
Lower-priced Honda Insight insurance in Baltimore can be sourced online and from local agencies, and you need to price shop both to get a complete price analysis. A few companies may not have price quotes online and usually these smaller providers sell through local independent agencies.
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