Cheapest Car Insurance Companies in Baltimore, MD (2023 Rates)

The cheapest provider for you depends on your coverage level preferences and driving record. In Baltimore, Progressive is the most affordable choice for drivers seeking minimum and full coverage car insurance. It's also the least expensive for drivers with traffic infractions, teens on family policies, military drivers, young adults, seniors and those with poor credit scores. Travelers is the cheapest company for sports car drivers.

If you're looking for an insurer that balances affordability and quality of service, MoneyGeek found the best car insurance providers in Baltimore.

The most affordable auto insurance providers for minimum coverage in Baltimore are:

• Progressive: $579 per year
• Travelers: $857 per year

Nationwide has the most expensive minimum coverage policies, with an annual cost of $1,316. Progressive also is the cheapest provider in Maryland, with a yearly cost of $669. A minimum coverage policy costs slightly less in Baltimore than in other parts of the state, highlighting your location's significant impact on insurance rates.

Maryland law mandates that minimum coverage auto insurance includes protection for bodily injury liability, property damage liability and uninsured motorist coverage. The coverage must meet at least the following:

• $30,000 bodily injury liability per person
• $60,000 bodily injury liability per accident
• $15,000 property damage liability per accident
• $30,000 uninsured/underinsured motorist coverage per person
• $60,000 uninsured/underinsured motorist coverage per accident
• $15,000 uninsured/underinsured property damage coverage per accident

If you cause an accident and have a minimum coverage policy, your carrier will cover up to $30,000 in medical expenses for each person involved, with a maximum limit of $60,000 for the entire incident and $15,000 in property damage. You'll have to pay for any remaining damages beyond these limits, including your vehicle repair costs.

The following companies offer the cheapest full coverage auto insurance in Baltimore:

• Progressive: $915 per year
• Travelers: $1,508 per year

State Farm charges the highest average rate for full coverage car insurance in Baltimore at $2,087 per year. As of October 2022, Nationwide is the most affordable full coverage provider in Maryland, with an average yearly cost of $1,088, which is lower than the $915 policy offered by Progressive, the most affordable option in Baltimore.

Unlike liability-only and minimum coverage policies, full coverage policies provide broader financial protection by including comprehensive and collision insurance.

• Comprehensive insurance: Covers damage to your car from non-collision events, such as vandalism, theft, fire, flood and hail.
• Collision insurance: Protects you from the costs of damages resulting from collisions, such as accidents involving other cars, trees and other objects, such as fences and light poles. Collision also covers rollover accidents and pothole damage.

Full coverage for older vehicles may not be the best option, as you may be paying hundreds of dollars more per year for a car with low value. Carefully consider whether the additional coverage is worth the cost.

Drivers with traffic offenses on their record can get the most affordable auto insurance rates from Progressive. Rates may vary depending on the violation, as follows:

• Speeding ticket: Progressive ($1,102 per year)
• At-fault accident: Progressive ($1,384 per year)
• DUI: Progressive ($1,197 per year)

Drivers with less-than-perfect driving records will always face higher insurance rates than those with clean ones. Nationwide is the most expensive insurer for drivers with a speeding ticket, charging $2,476 per year, an at-fault accident or DUI, at $3,074 and $3,775 per year, respectively.

While it's not always the case, insurance premiums increase with the driving offense's severity. In Baltimore, a speeding ticket will cost you an extra $373 annually, while a DUI will set you back an additional $860 per year. Nevertheless, buying affordable insurance rates with a poor driving record is still possible.

For 16-year-old teens on a family policy, the cheapest insurers in Baltimore are:

• Progressive: $2,140 per year for female teens; $2,346 per year for male teens
• GEICO: $2,534 for female teens per year
• Allstate: $3,627 per year for male teens

State Farm charges the highest annual premium for teens at $5,093 for girls and $6,210 for boys.

Rates for male teens are typically higher than those for female teens, as providers consider boys riskier drivers. For example, the cost for male teens with Progressive is $206 higher than for female teens. The price difference is common for teenagers but tends to lessen as they enter early adulthood.

Baltimore families can save approximately $3,333 per year by adding their teen drivers to their existing policy instead of purchasing a separate individual one. Plus, in most cases, a teen under 18 must have a parent or guardian as a co-signer to get car insurance legally. Comparing insurance options is the most effective way to secure the most affordable rates for teen drivers.

The cheapest car insurance providers for those with military backgrounds looking for full coverage in Baltimore are:

• Progressive: $915 per year
• USAA: $962 per year

USAA is the most affordable for minimum coverage at $514 annually, while Progressive follows closely, with an annual rate of $579. USAA offers tailored services to active-duty military members, veterans and their immediate family members, making it their best insurer.

To find affordable car insurance in Baltimore, comparing online quotes from multiple providers is the most effective approach. However, this process can be tedious, often taking upwards of 15 minutes and requiring the entry of a considerable amount of personal information into each website.

MoneyGeek's car insurance calculator makes weighing out your options easier and faster. By leveraging our data, it provides you with average rates based on just your age, vehicle type, driving record and desired coverage level.

The following providers offer the cheapest car insurance premiums for young adults in Baltimore:

• Progressive: $1,093 per year
• Travelers: $1,724 per year

State Farm is the most expensive company for young adults, charging an average of $2,600 per year. In Baltimore, young adults typically pay higher auto insurance premiums than middle-aged drivers. On average, 40-year-old drivers in this city pay $1,625 per year, which is $331 less than the average premium of $1,956 spent by 25-year-olds.

The cheapest car insurance companies for seniors in Baltimore seeking full coverage are:

• Progressive: $976 per year
• GEICO: $1,630 per year

For seniors aged 65 and over in Baltimore, State Farm is the most expensive car insurance company, with an annual premium of $2,169. Insurers often charge higher premiums for seniors because they're considered at a higher risk of at-fault accidents due to potential medical conditions and slower reaction times. At an average yearly rate of $1,818, seniors in Baltimore pay $193 more than middle-aged drivers.

The cheapest full coverage car insurance policies for drivers with poor credit in Baltimore are offered by:

• Progressive: $1,262 per year
• Allstate: $2,363 per year

State Farm is the most expensive insurer for those with bad credit, charging $4,511 annually. Baltimore drivers with bad credit pay around 73% more than those with good credit — approximately $1,625 annually. While your policy will be more expensive, you can still find cheap car insurance with a poor credit history.

Insurance companies often charge those with lower credit scores higher rates, as they are thought to be more likely to file claims. You can search for discounts, bundle policies and compare quotes from different insurers to help reduce expenses. Improving your credit score by lowering your credit card debt, making timely payments and avoiding loans can also help reduce your insurance premiums.

The least expensive auto insurers for sports car drivers seeking full coverage policies in Baltimore are:

• Travelers: $1,341 per year
• Progressive: $1,426 per year

State Farm has the highest premium for sports car owners in Baltimore at $2,369 per year. The average rate for a Toyota Camry is $1,625 per year, while sports car insurance costs $1,753 annually. This means that driving a sports car will cost you an additional $128 per year compared to a standard Camry — an increase of 8%.

MoneyGeek's survey used quotes for a Ford Mustang to gauge how owning a sports car impacts auto insurance premiums. Note that rates may differ depending on the make and model of your car. Typically, sports cars, luxury cars and electric vehicles are more expensive to insure, which also holds true in Baltimore.

The average cost of car insurance in Baltimore is $1,440 annually, which is $287 more than the average rate in Maryland ($1,153 per year) and $175 higher than the national average cost ($1,265 per year). These rates are based on full coverage policies that include limits of $100,000 in bodily injury liability per person, $300,000 in bodily injury liability per accident and $100,000 in property damage liability per incident.

Although car insurance is generally cheaper in Maryland than in the rest of the country, Baltimore's rates are slightly higher due to population density, crime and accident rates. Location is just one of many factors that can influence car insurance costs.