Cheap Insurance for a Honda CR-V in Maryland

Our content editors always give us grief that when writing about auto insurance, the words “affordable” or “cheap” should not appear anywhere to describe car insurance prices. The fact is, cheap car insurance for a Honda CR-V may be a thing of the past. Don’t let that discourage you, because there may be ways you can quote and buy car insurance that is more affordable.

Finding affordable insurance for a Honda CR-V in Maryland is dependent upon a complicated equation that takes into consideration things such as your marital status, your profession, and deductibles for comprehensive and collision coverage. Drivers in Maryland will pay on average $980 a year to buy insurance for a Honda CR-V, but that figure is an estimation based on rates for a 50-year-old married male driver who needs full coverage including both comprehensive and collision and $100 deductibles.

There is a very good chance that you are not exactly 50 years old and possibly not even male, single instead of married, or maybe you had a chargeable driving offense. Everone’s needs are different, and this illustrates why your best chance at finding cheap car insurance rates for your Honda is to make a habit of comparing prices at least once a year.

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Vehicle trim level tends to have a direct effect on the cost of coverage, so the rate you pay to insure a CR-V LX 2WD model will be $34 cheaper than the insurance cost for the higher-end CR-V EX-L 4WD trim level, as shown in the prices below.

Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Table data does not factor in your specific Maryland location which can increase or decrease auto insurance rates substantially.

Finding out which company has the most affordable auto insurance rates for a Honda CR-V involves a tad more effort in order to find the lowest price. Each insurance company uses a little different formula for determining rates in each state, so let’s take a look at the auto insurance companies with the overall best prices in Maryland.

We do need to point out that Maryland auto insurance rates are influenced by many factors that will increase or decrease the price of your policy. Getting older, buying higher coverage limits, or getting a ticket for running a stop sign can trigger price changes resulting in some companies being more affordable than before.

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USAA normally has some of the lowest car insurance rates in Maryland at around $958 annually. Erie, Liberty Mutual, Penn National, and State Auto also rank well as some of the cheaper Maryland auto insurance companies.

As shown in the table above, if you are insured with Penn National and switched to USAA, you could earn a yearly price reduction of around $179. Customers with State Auto might save as much as $220 a year, and Amica insureds might reduce rates by $389 a year.

Remember that these premium estimates are averages for all drivers and vehicles and do not factor in a specific rate value for a Honda CR-V. So the insurer that is best suited for you may not even be shown in the list above. That illustrates why you need to compare prices as often as possible using your own driver information and specific vehicle type.

The chart below demonstrates how deductible levels can change yearly insurance costs when quoting cheap insurance for a Honda CR-V. The information is based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.

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The data above shows that a 30-year-old driver could lower rates by $334 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $508 by using a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could possibly save up to $722 annually by choosing a larger deductible amount.

If you make the decision to raise deductibles, it will now be necessary to have emergency funds available to enable you to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Discounts on cheap insurance for a Honda CR-V in Maryland

Car insurance companies that offer quotes for a Honda CR-V may also offer discounts that can reduce rates by 25% or more if you are eligible to receive them. Large auto insurance companies and their possible discounts can be read below.

• State Farm offers discounts including anti-theft, passive restraint, multiple policy, accident-free, multiple autos, and safe vehicle.
• Progressive may have discounts that include homeowner, continuous coverage, online signing, multi-vehicle, and multi-policy.
• Progressive discounts include homeowner, multi-policy, multi-vehicle, good student, continuous coverage, and online quote discount.
• MetLife includes discounts for claim-free, good driver, defensive driver, accident-free, good student, multi-policy
• Farm Bureau policyholders can earn discounts including multi-policy, 55 and retired, youthful driver, driver training, multi-vehicle, and good student.
• GEICO offers premium reductions for emergency military deployment, military active duty, anti-lock brakes, multi-vehicle, multi-policy, and anti-theft.
• SAFECO offers discounts for accident prevention training, anti-theft, anti-lock brakes, safe driver, teen safe driver, multi-car, and teen safety rewards.

The illustration below shows the difference between premium costs with and without discounts. The information is based on a female driver, no claims or violations, Maryland state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multiple vehicle, accident-free, marriage, anti-theft, homeowner, and vehicle safety discounts applied. When discounts are factored in, the the average amount saved on auto insurance for a Honda CR-V is 28% or $621.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Female Driver No Discounts’, ‘Female Driver with Discounts’],[‘Age 20’, 3303,2385],[‘Age 30’, 2315,1685],[‘Age 40’, 2143,1555],[‘Age 50’, 1875,1363],[‘Age 60’, 1811,1315],[‘Age 70’, 2091,1511]]);var options = {title: ‘Effect of Discounts on Insurance Price for a Honda CR-V’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#c096ca’, ‘#e1b7ec’],hAxis: {title: ‘Annual Insurance Cost for a Honda CR-V in Maryland’,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);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}