Who Has Cheap Insurance for a Toyota RAV4 in Maryland?

Our editors always tell us that when writing about car insurance, the words cheap or affordable really shouldn’t be used anywhere in the article as a descriptor for auto insurance rates. Despite the oxymoron, cheap auto insurance for a Toyota RAV4 is pretty hard to find. Don’t let that bother you, though, because we are going to tell you how you can still get auto insurance that is cheaper than your current rate.

Buying the best cheap coverage for a Toyota RAV4 in Maryland depends upon a complex formula that considers things like whether you are married or single, your geographic location, and any driving offenses on your record. Maryland drivers pay around $940 per year to insure a RAV4, but that figure is an estimation based upon a 30-year-old married male driver that included both comprehensive and collision coverage and $1,000 physical damage deductibles.

There is a good possibility you are not 30 years old and maybe not even male, single instead of married, and maybe your RAV4 just needs liability-only coverage. This demonstrates why the best way to find cheap car insurance rates for your Toyota is to get into the habit of comparing rates once a year. In just a few minutes you can get rates from top-rated car insurance companies around.

View Toyota RAV4 Insurance Rates

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Premium amounts do not factor in zip code location which can revise auto insurance rates greatly.

Deciding which companies have the cheapest car insurance rates for a Toyota RAV4 will require a little more work in order to find the lowest price. Each auto insurer has their own guidelines to set policy rates, so let’s look at the rankings for the car insurance companies with the overall best prices in Maryland.

Best Cheap Insurance Rates for Your Toyota

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USAA offers some of the lowest car insurance rates in Maryland at around $948 each year. Liberty Mutual, Penn National, Erie, and State Auto also are some of the cheapest Maryland car insurance companies.

In the above example, if you currently have a policy with Erie and switched to Liberty Mutual, you might realize an annual premium reduction of approxmiately $46. Customers with State Auto could save as much as $133 a year, and Amica insureds might realize rate reductions of up to $253 a year.

To find cheap insurance for a Toyota RAV4 in Maryland, click here to begin a quote or feel free to get quotes from the companies below.

Be aware that those estimates are averages across all ages of drivers and types of vehicles and do not take into consideration a specific rate value for a Toyota RAV4. So the car insurance company that can offer you the lowest price may not even be featured in the rate chart shown above. That affirms the importance of why you need to compare rates from multiple companies using your own driver information and specific vehicle type.

Get discounts on Maryland insurance

Insurance providers that provide cheap insurance for a Toyota RAV4 in Maryland may additionally offer policy discounts that can reduce rates by 40% or more if you are eligible to receive them. A list of companies and their offered discounts are detailed below.

• Farmers Insurance offers discounts including distant student, homeowner, electronic funds transfer, good student, switch companies, alternative fuel, and multi-car.
• State Farm includes discounts for multiple autos, Drive Safe & Save, multiple policy, defensive driving training, driver’s education, accident-free, and passive restraint.
• Liberty Mutual offers premium reductions for new move discount, safety features, multi-car, preferred payment discount, and teen driver discount.
• MetLife discounts include claim-free, accident-free, multi-policy, defensive driver, good driver, and good student.
• Progressive may offer discounts for good student, online quote discount, homeowner, multi-vehicle, online signing, and continuous coverage.

The example below compares insurance rates with and without discounts applied to the policy rates. The price estimates are based on a female driver, no claims or driving citations, Maryland state minimum liability limits, full physical damage coverage, and $500 deductibles.

The first bar for each age group shows the average rate with no discounts. The second shows the rates with anti-theft, marriage, defensive driving course, multiple policy, homeowner, and passive restraint discounts applied. With discounts applied, the the average amount saved on car insurance for a Toyota RAV4 is 28% or $598.

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Do you need full coverage?

Finding cheap insurance for a Toyota RAV4 in Maryland is important to most vehicle owners, and one way to pay less for insurance is to not pay for full coverage. The chart below compares insurance premiums with and without full coverage. The prices are based on no claims or driving violations, $500 deductibles, drivers are single, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 3857,1437],[‘Age 30’, 2019,787],[‘Age 40’, 1981,729],[‘Age 50’, 1807,683],[‘Age 60’, 1749,671],[‘Age 70’, 2153,899]]);var options = {title: ‘Full Coverage and Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota RAV4 in Maryland’,minValue: 0,format: ‘$###,###’},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(‘qcibfcl’));chart.draw(data, options);}

As an average, full coverage on your policy costs $2,261 per year over having just liability coverage. That proposes the question if buying full coverage is worth the expense. There is no written rule of when to phase out full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your vehicle’s claim settlement value is $4,500 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $3,500 after paying your policy deductible. If you are paying more than $350 annually for comprehensive and collision coverage, then you may want to consider only buying liability coverage.

There are a few situations where removing full coverage is not financially feasible. If you haven’t paid off your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not opt for liability only.

Allstate vs Progressive vs State Farm vs Geico

When buying insurance for a RAV4 in Maryland, four of the best places to start are Allstate, Progressive, State Farm, and Geico. When combined, they make up almost half of all car insurance policies written. All four offer physical damage and liability coverage, but each has a distinct set of features and optional coverages that may influence which company you choose. The following table compares some of the different options and features that are available for customers.