Best Cheap Insurance for a Toyota Camry in Maryland

When discussing car insurance, the word cheap really shouldn’t be used anywhere in the article to describe car insurance prices. Unfortunately, cheap car insurance for a Toyota Camry can be difficult to find. But don’t let that discourage you, because we will show you how you can still get car insurance that you can fit into your budget.

Your ability to find the best cheap insurance for a Toyota Camry in Maryland is dependent upon a complex equation that considers factors like annual miles driven, if you have maintained coverage continuously, and any prior driving offenses. Drivers pay on average $910 per year to buy Toyota Camry insurance, but that price is an approximation based on rate data for a 50-year-old married female driver that included full comprehensive and collision coverage and $500 policy deductibles.

The issue that arises when projecting rates is that it’s very likely that you are not 50 and possibly not even female, maybe you are single instead of married, or you just prefer to insure for liability only. The different assumptions illustrate why the most reliable method for finding cheap car insurance rates for your Toyota is to compare rates from as many companies as possible.

Find Cheaper Toyota Camry Insurance

Your vehicle’s trim level tends to impact the yearly cost, so the price you will pay to insure a Camry LE trim level will be $160 less than the price to insure the higher-priced Camry Hybrid version, as shown in the prices below.

Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Information does not factor in the specific area where the vehicle is garaged which can modify coverage prices significantly.

Finding budget insurance is not the easiest thing to accomplish, and determining which companies quote the most affordable auto insurance rates for a Toyota Camry takes a little more work.

Every insurance provider uses a slightly different approach for setting prices, so let’s begin by taking a look at the auto insurance companies that tend to be cheaper in Maryland. It’s important that readers know that Maryland auto insurance rates are influenced by many factors that will increase or decrease the policy premium. Events like a birthday, buying a newer car, or getting a ticket for careless driving can cause premium changes that can cause some rates to be more expensive than others.

Find the Best Cheap Insurance for Your Camry

Compare Rates and Save

google.charts.setOnLoadCallback(drawMDT5qcibChart);function drawMDT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘USAA’, 920, ‘#33CF8F’], [‘Liberty Mutual’, 1081, ‘#2AAC77’], [‘Penn National’, 1126, ‘#238F63’], [‘Erie’, 1161, ‘#1D7752’], [‘State Auto’, 1214, ‘#186344’]]);var options = {title: ‘Low-Priced Auto Insurance Companies in Maryland’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1314,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

USAA may have some of the best car insurance rates in Maryland at around $920 per year. Liberty Mutual, Penn National, Erie, and State Auto also are some of the best Maryland car insurance companies.

As illustrated above, if you currently have a policy with Erie and switched to Liberty Mutual, you might realize a yearly price reduction of in the neighborhood of $80. Customers with State Auto could save as much as $133 a year, and Amica insureds might reduce rates by $214 a year.

These premiums are averaged for all drivers and vehicles and do not factor in a specific rate factor for a Toyota Camry. So the company that fits your needs best may not even be in the above rate chart. That helps illustrate why you need to get rate quotes from many companies using your own driver and vehicle profiles.

The chart below demonstrates how choosing different deductibles can change insurance premiums when trying to find cheap insurance for a Toyota Camry. The rate quotes are based on a single male driver, full coverage, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 5141,4653,4129,3633],[‘Age 30’, 2601,2381,2125,1881],[‘Age 40’, 2609,2371,2103,1847],[‘Age 50’, 2369,2155,1917,1689],[‘Age 60’, 2289,2083,1855,1637],[‘Age 70’, 2779,2539,2281,2037]]);var options = {title: ‘Impact of Deductible Levels on Toyota Camry Insurance Rates in Maryland’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Toyota Camry’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

In the chart above, a 50-year-old driver could lower their car insurance rates by $452 a year by increasing from a $100 deductible to a $500 deductible, or save $680 by selecting a $1,000 deductible. Young drivers, such as the Age 20 example, have the ability to save up to $1,508 each year by selecting a higher deductible. When choosing a higher deductible, it will be necessary to have emergency funds available to enable you to cover the extra out-of-pocket expense that comes with higher deductibles.

Low rates today, overpriced tomorrow

Maryland auto insurance rates are impacted by many things which can significantly increase or decrease the cost of a policy. Getting older, buying a new vehicle, or having a fender bender may prompt premium changes that can cause some rates to be cheaper than others.

Not only may things change on your end, but insurers modify rates as needed as an adjustment for underwriting gains or losses. Heavy losses can result in increased policy costs, while a lower level of claims can produce cheaper Camry insurance rates.

For instance, the bar chart below shows rates for the cheapest car insurance in Maryland for a 35-year-old female driver with a clean driving record, no accidents, and solid credit. When quoting prices based on her personal profile, USAA might quote the lowest car insurance rates in Maryland at $920 per year. This is $639 less than the average rate paid by Maryland drivers of $1,559. Liberty Mutual, Penn National, Erie, and State Auto also make the list of the top five cheapest Maryland auto insurance companies.

google.charts.setOnLoadCallback(drawMDWitcqcibChart);function drawMDWitcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘USAA’, 920, ‘#528E00’],[‘Liberty Mutual’, 1081, ‘#447600’],[‘Penn National’, 1093, ‘#386200’],[‘Erie’, 1161, ‘#2E5100’],[‘State Auto’, 1190, ‘#264300’]]);var options = {title: ‘Best Car Insurance Rates for a Toyota Camry’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1290,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwitc’));chart.draw(view, options);}

In the next rate comparison, we’ll give the driver in the first chart a claim surcharge, bad credit, and an imperfect driving record. Because every insurance company has a different process to establish rates, comparing quotes will most likely result in a different ranking of the cheapest car insurance companies in Maryland as shown below.

google.charts.setOnLoadCallback(drawMDWcqcibChart);function drawMDWcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘MetLife’, 1555.4, ‘#DB7900’],[‘Nationwide’, 1563.1, ‘#B66400’],[‘Travelers’, 1568.6, ‘#975300’],[‘GEICO’, 1586.2, ‘#7D4500’],[‘Penn National’, 1639.5, ‘#683900’]]);var options = {title: ‘New Rates with Accident/Violation Surcharges’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 300,’chartArea’:{left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1739.5,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwc’));chart.draw(view, options);}

MetLife now has the best insurance rate in Maryland with Nationwide, Travelers, GEICO, and Penn National completing the list. This example illustrates why it is crucial to shop around to find affordable auto insurance quotes for a Toyota Camry.

Rates are determined by many factors and can decrease or increase without notice, so the cheapest option six months ago may now be wasting a lot of money.

Find the best cheap insurance for a Toyota Camry in Maryland

The list below shows some of the recommended penny-pinching ideas that can help drivers quote cheap auto insurance.

• Save money by only buying liability coverage for older vehicles
• Bundle car and home insurance and save money
• Drivers with good credit ratings often pay less
• Increase the comprehensive and collision deductibles on your policy
• Vehicles with good safety ratings are usually cheaper to insure
• Claim-free policyholders usually earn a discount
• Compare rate quotes often

That last piece of advice is notably critical, as was emphasized in the prior article. Car insurance rates adjust frequently, so you should be ready to buy from a different company if you find a better deal. Sticking with a specific company is fine, but we do not recommend it if that dedication is costing money that could be used for better things. In just a couple of minutes you could compare prices to find cheaper car insurance for a Toyota Camry.