Who Has the Cheapest Car Insurance Quotes for High Risk Drivers in Maryland?

Ideally, we could simply give you the name of the one auto insurance company that has the cheapest rate quotes in Maryland. It’s just not that simple, as there are a whole bunch of unknown aspects like if you are married, what physical damage coverage deductibles you want, how far you drive each year, and if you are a homeowner, that all impact the price you pay. If you keep reading, we will teach you about some of these criteria and also should give you a good beginning to your quest for cheaper car insurance in Maryland.

For high risk drivers, one of the more important factors that helps auto insurance companies calculate auto insurance rates is where you normally keep your vehicle. Regions with more people or even just more weather-related claims like Baltimore, Dundalk, and Catonsville tend to pay slightly more, whereas areas with less congestion have the benefit of the cheapest auto insurance for high risk drivers in Maryland.

The next table sorts the most expensive areas in Maryland for high risk drivers in which to buy car insurance.

Annual rates are comparative as specific location information can decrease or increase rates substantially.

The type of vehicle you are buying coverage for is a large factor when comparing quotes for the most economical insurance for high risk drivers. Vehicles with lower acceleration and performance, an excellent safety record, or a low likelihood of liability claims will cost substantially less to insure than high performance models. The data below features insurance premiums for the cheapest automobiles to insure.

Table data represents married female driver age 40, two speeding tickets, two at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Price information does not factor in Maryland location which can modify coverage prices significantly.

Based on these rates, we can assume that vehicles like the Honda CR-V, Ford Escape, and Toyota Prius are going to be some of the cheaper vehicles to insure for high risk drivers. Auto insurance rates will be more costly just due to the fact that there is more claim risk for high risk drivers, but generally speaking those specific models will have the cheapest auto insurance rates that you are likely to find.

The chart below highlights how deductible choice can change premium costs when quoting cheap insurance for high risk drivers. The price estimates are based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3413,3123,2797,2485],[‘Age 30’, 2385,2175,1935,1707],[‘Age 40’, 2361,2155,1925,1705],[‘Age 50’, 2067,1889,1691,1503],[‘Age 60’, 1969,1799,1609,1427],[‘Age 70’, 2135,1951,1749,1561]]);var options = {title: ‘Effect of Higher Deductibles on Auto Insurance Cost in Maryland’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},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);}

As shown above, a 30-year-old driver could lower rates by $436 a year by increasing from a $100 deductible to a $500 deductible, or save $656 by using a $1,000 deductible. Even younger drivers, like the Age 20 category, could save $928 each year by selecting a higher deductible. If you do decide to increase your deductibles, it is essential to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

How violations and accidents impact rates

A great way to enjoy the cheapest car insurance rates in Maryland for high risk drivers is to drive attentively and not have accidents or get tickets. The example below demonstrates how citations and fender-benders raise insurance prices for different ages of insureds. Data assumes a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and One Accident’],[‘Age 20’, 2499,3035,3581],[‘Age 30’, 1291,1829,2375],[‘Age 40’, 1261,1797,2343],[‘Age 50’, 1161,1697,2241],[‘Age 60’, 1135,1677,2223],[‘Age 70’, 1339,1875,2423]]);var options = {title: ‘Impact of Violations and Accidents on Maryland Insurance Premiums’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle 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);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the prior example, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,448. Factor in two speeding tickets and the average cost jumps to $1,985, an increase of $537 each year. Next add one accident along with the two speeding tickets and the yearly cost of car insurance for high risk drivers goes up to an average of $2,531. That’s an increase of $1,083, or $90 per month, just for not driving carefully!

Does Allstate, State Farm, Geico, or Progressive have the cheapest car insurance?

When buying auto insurance for high risk drivers in Maryland, four of the larger companies to compare rates for are Allstate, State Farm, Geico, and Progressive. Combined they insure 48.5% of all vehicles in the U.S.. The table below ranks some of the different features that are available for buyers.