Car insurance in Baltimore costs an average of $2,127 per year, which is the same as the average for the state of Maryland. The most affordable and widely available insurance is from Erie and costs an average of $1,545 per year. MoneyGeek’s analysis based on driving history and coverage amounts can help you find the best company for your needs if you want quality coverage at affordable costs.
Compare the Cheapest Car Insurance Quotes in Baltimore, MD
Erie is Baltimore’s cheapest car insurance provider for full coverage and state minimum policies and drivers with a speeding ticket. However, rates change depending on your preference and profile. For military family members, USAA presents the cheapest options. GEICO is MoneyGeek’s top-rated auto insurance company in Baltimore for balancing cost and customer service.
The Cheapest and Best Car Insurance in Baltimore
The Cheapest Car Insurance Companies in Baltimore
A full coverage car insurance policy offers broad financial protection to a driver in case of an accident as it combines liability, comprehensive and collision coverages.
In Baltimore, these providers offer the most affordable full coverage insurance policies for an average driver:
- Erie: $1,545 per year
- Allstate: $1,673 per year
USAA presents a cheaper premium at $1,217 annually, but it’s only available for current and retired military personnel and their families. Still, MoneyGeek’s research shows that USAA is 251% less expensive than Esurance, the city’s most costly insurer.
Cheapest Car Insurance in Baltimore
- Company100/300/100per year
The car insurance rates in this study are for a 40-year-old male driver in Baltimore with a full coverage policy based on MoneyGeek’s methodology.
A full coverage auto insurance policy includes comprehensive coverage, collision coverage and the state’s required coverages. It offers broad financial protections in case of an accident, but it’s more costly than a minimum coverage policy.
- Comprehensive Coverage: Pays for losses incurred due to weather events, theft, falling objects and other damage not caused by a collision.
- Collision Coverage: Pays for vehicle repairs if you’re in an accident.
If you have an older car, consider that a full coverage insurance policy can be more expensive than your car’s actual worth. A liability-only or state minimum insurance policy is recommended in this case to obtain the cheapest rates possible.
Cheapest Car Insurance in Baltimore for Minimum Coverage
If you’re looking for Baltimore’s cheapest car insurance offers, you can opt for a state minimum policy. Such policies are significantly more affordable but don’t include comprehensive and collision coverages, which exposes you to considerable financial risk in the case of an accident.
These providers offer the most affordable minimum coverage policies:
- Erie: $926 per year
- Travelers: $1,020 per year
USAA offers the most affordable state minimum premiums in Baltimore for eligible military members and their families at $673 annually. It’s $2,027 cheaper than the city’s most expensive state minimum provider, Esurance.
Check out the table below to see how costs vary depending on liability coverage.
Cheapest Minimum Liability Car Insurance in Baltimore
The state of Maryland requires its drivers to have at least a minimum coverage policy, which includes coverages for bodily injury liability, property damage liability, uninsured motorist bodily injury and uninsured motorist property damage.
Since minimum coverage policies are Baltimore’s most affordable car insurance, buying this coverage will result in savings on your monthly premiums. However, in case of an accident, you can easily end up paying a lot more.
That’s because liability insurance in Maryland only covers $30,000 for bodily injuries per person. If you’re at fault in an accident, for example, and the other party’s medical expenses reach $40,000, you’ll have to pay the remaining $10,000 out of pocket.
Maryland Minimum Liability Requirements
- Bodily Injury and Property Damage$30,000 per person, $60,000 per accident and $15,000 for property damage. A more protective level is 100/300/100.
- Uninsured Motorist$30,000 per person and $60,000 per incident. The minimum coverage may not be enough if you're in a serious accident.
Cheapest Car Insurance in Baltimore if You Have Driving Violations
Having a driving violation on your record can cause your insurance rates to go up. If you do have a speeding ticket, DUI or an at-fault accident, however, you can work towards improving your driving history over time and get your rates lowered.
While you’re doing that, your best option is to shop around and compare quotes from various providers. MoneyGeek ranked Baltimore’s cheapest car insurance providers for drivers with a bad record:
- Cheapest after a ticket: Erie, $1,611 per year
- Cheapest after an at-fault accident: Erie, $1,994 per year
- Cheapest after a DUI: Erie, $1,611 per year
Military personnel and their families may be eligible for insurance through USAA, which has the most affordable car insurance rates in Baltimore for drivers with a speeding ticket or an at-fault accident.
Cheapest Car Insurance in Baltimore With a Violation
- CompanySpeeding Ticketper year
Average Cost of Car Insurance in Baltimore
In Baltimore, the average annual cost of car insurance is $2,127, which is equivalent to the statewide rate, although this is much higher than the national average cost of car insurance. Drivers in Baltimore pay about 49.3% more than the national average for auto insurance.
Personalized Quotes to Get You the Cheapest Car Insurance in Baltimore
When computing car insurance quotes in Baltimore, insurance companies take several factors into consideration, such as age, location, driving record and make and model of the vehicle, among others. In Baltimore, for example, a car insurance policy from Erie for an 18-year-old driver costs around $3,975 per year, while a similar policy for a 40-year-old driver costs around $1,545.
Car insurance companies in Baltimore assess the risk associated with the driver in order to compute the best car insurance rates. Since the factors affecting your risk can change over time, it’s recommended that you request a personalized quote regularly so you can get the cheapest car insurance quote suitable for your needs.
The Best Car Insurance Companies in Baltimore
To help you find a provider that offers both affordability and quality service, MoneyGeek ranked the best car insurance companies in Baltimore.
On average, the best car insurance companies in the city are:
- GEICO: MoneyGeek score of 93 out of 100
- Hatford: MoneyGeek score of 88 out of 100
USAA earned the highest score in Baltimore per MoneyGeek’s rating system. However, because it’s only available to active military members, veterans and their families, we did not list it as best overall.
MoneyGeek used various factors to determine scores out of 100, including J.D. Power’s ratings for customer satisfaction, affordability and the financial stability of the insurance company in question.
Average Cost of Car Insurance by Postal Code
Since different neighborhoods have different costs of living and car-related incidents, insurance companies also consider your specific residential address when computing your car insurance quote in Baltimore. Drivers who live in ZIP code 21224, the most affordable neighborhood for auto coverage in Baltimore, will pay about $686 less in annual car insurance premiums than drivers who live in ZIP code 21215.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Baltimore
In addition to individual driver needs and history, location-specific factors like personal injury protection coverage requirements and the percentage of uninsured motorists also contribute to car insurance rates in Baltimore. How Baltimore ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Baltimore are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
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