If you're looking for lower-priced insurance online, do you get overwhelmed by the number of insurance sources that you can choose from? You have so many choices that it can easily become a real hassle to find the best prices for Toyota Camry insurance in Baltimore. If you've ever been there, you know that Baltimore is a great city to live in, but pricey insurance makes it very hard to pay for enough insurance coverage.
It's astonishing, but the vast majority of insurance customers in Maryland kept their policy with the same company for at least four years, and almost 40% of drivers have never quoted insurance rates at all. Consumers in the United States could save 46.5% each year by just shopping around, but they don't want to spend time to find cheap insurance by shopping around.
How much is Toyota Camry insurance in Baltimore?
When shopping for Toyota Camry insurance in Baltimore there are multiple ways to obtain and compare prices from many auto insurance companies in Maryland. One of the best ways to comparison shop is to use the internet to compare rates. It's important to know that quoting more increases your odds of finding a lower rate.
The following companies have been selected to offer comparison quotes in Maryland. If multiple companies are shown, we suggest you visit two to three different companies to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Price data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Rate information does not factor in zip code location which can lower or raise coverage prices noticeably.
Should you buy full coverage?
The example below examines Toyota Camry yearly insurance costs when comparing full coverage to state minimum liability only. The premiums are based on no driving violations, no at-fault accidents, $500 deductibles, married male driver, and no other discounts are factored in.
Deciding between full coverage and liability only
There is no clear-cut formula to stop buying full coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let's say your Toyota Camry replacement value is $7,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $6,000 after paying your policy deductible. If you are paying in excess of $600 annually for your policy with full coverage, then you may need to consider dropping full coverage.
There are a few cases where dropping physical damage coverage is not a good idea. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not buy liability only.
Insuring your vehicle just makes sense
Despite the high insurance cost for a Toyota Camry in Baltimore, car insurance may be mandatory for several reasons.
- Just about all states have compulsory liability insurance requirements which means you are required to carry specific limits of liability coverage in order to be legal. 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 Camry with a loan, it's most likely the lender will force you to carry insurance to protect their interest in the vehicle. If the policy lapses, the lender will be forced to insure your Toyota at a significantly higher premium and force you to pay much more than you were paying before.
- Insurance protects not only your vehicle but also your assets. It will also reimburse you for hospital and medical expenses for both you and anyone you injure as the result of an accident. Liability coverage also pays expenses related to your legal defense in the event you are sued. If damage is caused by hail or an accident, your policy will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car greatly outweigh the cost, particularly for liability claims. Despite what companies tell you, the average driver is overpaying over $855 a year so you should quote and compare rates at least once a year to save money.
Seven Things That Affect Your Insurance Prices
It's important that you understand some of the things that help calculate your policy premiums. If you have some idea of what impacts premium levels, this helps enable you to make changes that may result in lower auto insurance prices.
Insurance companies don't like frequent policy claims - If you are a frequent claim filer, you should expect higher rates. Auto insurance companies in Maryland generally give most affordable rates to people who do not rely on their insurance for small claims. Insurance coverage is intended for claims that pose a financial burden.
Add-on coverages can cost a lot - Policies have additional extra coverages that you can buy but may not be useful. Coverages for vanishing deductibles, death and dismemberment, and extra life insurance coverage may not be needed and are just wasting money. They may seem like a good idea when you first buy your policy, but now you might not need them so eliminate the coverages to reduce your premium.
Which gender costs less? - Statistics have proven that females take fewer risks when driving. However, don't assume that women are BETTER drivers than men. Males and females cause auto accidents at about the same rate, but guys cause more damage and cost insurance companies more money. Not only that, but men also have more aggressive citations like DWI (DUI) or reckless driving.
Drive fewer miles and save - Driving a lot of miles in a year the more you will pay for auto insurance. Almost all companies charge rates partially by how you use the vehicle. Vehicles left parked in the garage get more affordable rates than vehicles that have high annual mileage. Make sure your vehicle rating states the right rating data. An improperly rated Camry may be costing you.
How your age affects premiums - More experienced drivers are more responsible, tend to cause fewer accidents, and tend to be get fewer driving tickets.Beginning drivers are known to be less responsible in a vehicle and because of this, their auto insurance rates are much higher.
The type of car, truck or SUV you drive affects your rates - The performance level of the car, truck or SUV you are trying to find cheaper insurance for makes a substantial difference in determining your rates. Due to the fact that the Toyota Camry is a sedan, insurance will be about the same compared to average rates in Baltimore. The lowest performance passenger cars generally have the cheapest insurance rates, but there are many factors that impact the final cost.
Liability is cheap - Liability insurance is the coverage that protects you if a jury decides you are liable for damages caused by your negligence. This coverage provides for a legal defense which can cost thousands of dollars. Liability insurance is pretty cheap when compared with rates for comp and collision, so do not cut corners here.
Toyota Camry insurance loss statistics - Insurance companies use historical loss data when they calculate premium rates for each model. Models that the statistics show to have higher losses will cost more to insure.
The next table shows the loss history for Toyota Camry vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, regardless of make, model or trim level, is represented as 100. Values that are under 100 suggest a positive loss record, while values that are 100 or greater indicate more frequent losses or statistically larger losses.
Auto Insurance Loss Data for Toyota Camry Models
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Camry Hybrid||124||100||110||118||127||96|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
You may qualify for discounts for Toyota Camry insurance in Baltimore
Properly insuring your vehicles can get expensive, but you may find discounts that you may not even be aware of. Many of these discounts will be applied automatically at the time of quoting, but some may not be applied and must be requested specifically prior to getting the savings.
- Membership in Organizations - Participating in specific professional or occupational memberships or organizations is a good way to get lower rates on your bill.
- New Vehicle Savings - Buying a new car model may earn a small discount since newer models have better safety ratings.
- Driver Education Discount - Cut your cost by having your teen driver enroll and complete driver's education if offered at their school.
- Seat Belt Usage - Forcing all vehicle occupants to fasten their seat belts can save up to 15% off the personal injury premium cost.
- Discount for Life Insurance - Larger insurance companies have a lower premium rate if you buy a life policy as well.
- Bundle and Save - When you have multiple policies and place coverage with the same company you will save nearly 15% which can help you find low cost Toyota Camry insurance.
- Low Mileage Discounts - Low annual miles can earn better car insurance rates on cars that stay parked.
- E-sign - Some car insurance companies will give you a small discount simply for signing on their website.
As a sidenote, most of the big mark downs will not be given to the overall cost of the policy. Most only apply to the cost of specific coverages such as liability and collision coverage. Despite the appearance that all the discounts add up to a free policy, insurance companies wouldn't stay in business.
Some companies that may offer most of these discounts are:
Check with every company the best way to save money. Some credits might not be offered on policies everywhere. To choose providers who offer online Toyota Camry insurance quotes in Baltimore, click here.
How to know if you need help
When quoting and choosing the right insurance coverage for your personal vehicles, there really isn't a best way to insure your cars. Every insured's situation is different.
These are some specific questions could help you determine whether your personal situation might need professional guidance.
- What if I total my Toyota Camry and owe more than it's worth?
- Am I missing any policy discounts?
- Can my babysitter drive my car?
- Should I file a claim if it's only slightly more than my deductible?
- When should I not buy collision coverage?
- Do I need special endorsements for business use of my vehicle?
- Should I sign the liability waiver when renting a car?
- Is there a penalty for late payment?
- Is rental equipment covered for theft or damage?
- Does my liability insurance cover pulling a trailer or camper?
If you don't know the answers to these questions, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form.
Do I need an insurance agency?
Many drivers would rather talk to a local agent and often times that is recommended The biggest benefit of comparing rates online is that you can obtain lower rates and still have a local agent.
To help locate an agent, after submitting this short form, your insurance data is emailed to agents in your area that give free quotes for your business. You never need to search for any insurance agencies as quotes are delivered straight to your inbox. You can find lower rates and work with a local agent. In the event you want to compare prices from a specific company, just visit that company's website and fill out their quote form.
Finding the right provider needs to be determined by more than just the bottom line cost. Any agent in Baltimore should be willing to answer these questions.
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Do they specialize in personal lines auto insurance in Baltimore?
- Does the agency provide any after hours assistance?
- Does the agency support the community they serve?
- Does the agency have a current Errors and Omissions policy?
- How would your car be valued if totalled?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
Shown below is a short list of insurance companies in Baltimore that are able to give rate quotes for Toyota Camry insurance in Baltimore.
- Allstate Insurance: Shanda Hayden
7200 Eastern Ave a - Baltimore, MD 21224 - (410) 282-7863 - View Map
- Upper Chesapeake Insurance Agency Inc
900 S Charles St - Baltimore, MD 21230 - (410) 385-0455 - View Map
- Allstate Insurance: Kent Schwab
401 Jefferson Ave - Towson, MD 21286 - (410) 433-4700 - View Map
- Mason and Carter Inc
23 South St - Baltimore, MD 21202 - (410) 539-6767 - View Map
Quote more and you will save more
When getting Baltimore auto insurance quotes online, you should never skimp on coverage in order to save money. In too many instances, an accident victim reduced comprehensive coverage or liability limits only to regret that they should have had better coverage. The ultimate goal is to get the best coverage possible at the best price but still have enough coverage for asset protection.
Drivers who switch companies do it for a number of reasons such as questionable increases in premium, extreme rates for teen drivers, policy cancellation or unfair underwriting practices. No matter why you want to switch, finding the right auto insurance provider can be easy and end up saving you some money.
You just learned some good ideas how you can reduce Toyota Camry insurance car insurance rates online in Baltimore. The key concept to understand is the more rate quotes you have, the higher the chance of saving money. You may even find the lowest car insurance rates come from a lesser-known regional company.