Best Cheap Auto Insurance Quotes for Seniors in Maryland

Wouldn’t this article be short if we could look into our crystal ball and tell you the best company in Maryland that has the lowest car insurance rates for seniors? It’s not that simple, unfortunately, as there are a lot of unknowns such as the safety features of your vehicle, if you have ever let your policy lapse, if you own your own home, and what deductibles you want to use. This article should teach you a little about the best ways to save money and will hopefully give the reader a good beginning to your quest for cheaper car insurance in Maryland.

For senior citizens, one of the big considerations that is looked at to help calculate the amount you pay for auto insurance is your address. Cities with more crime and/or more people like Baltimore, Dundalk, and Silver Spring are more likely to pay higher prices, whereas areas with lower vehicle theft rates and fewer weather claims generally have lower rates.

The following table displays the priciest cities in Maryland for seniors to buy an auto insurance policy in.

Annual rates are approximated as the vehicle garaging location can modify prices greatly.

Finding cheap car insurance is difficult, and figuring out which company has the most affordable auto insurance rates for seniors will require more quotes for comparison. Rates may be a little bit cheaper than the average rate in Maryland because of the potential for less claims that goes along with selling coverage for senior citizens. Cost-effective insurance should be available from a lot of good insurance companies.

Every auto insurer has a unique approach for filing rates in each state, so let’s take a look at the auto insurance companies that tend to have lower prices in Maryland. It’s a good idea to be aware that Maryland auto insurance rates are based on many factors that will increase or decrease the price you have to pay for coverage. This price fluctuation is why it is critical to compare lots of rates when trying to get the cheapest insurance quotes for seniors. Prices are made up of many factors and change substantially, so the most economical option the last time you checked may now be one of the higher cost companies.

Best Cheap Insurance Rates for Mature Drivers

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USAA may have some of the best car insurance rates in Maryland at around $948 per year. Liberty Mutual, Penn National, Erie, and State Auto also make the cut as some of the lowest-priced Maryland insurance companies.

As the rates illustrate above, if you are a policyholder with Erie and switched to Liberty Mutual, you could realize annual savings of around $57. Insureds with State Auto may save as much as $86 a year, and Amica customers might realize rate reductions of up to $255 a year.

Understand that those premiums are averaged for all ages of drivers and types of vehicles and and are not calculated with a price discount for seniors. So the company that can offer the best rates for your situation may not even be shown in the above rate chart. That’s why you need to get car insurance quotes using your own personal information and vehicle type.

The illustration below illustrates how choosing a deductible can change yearly insurance costs when quoting cheap insurance for seniors. Data assumes a married male driver, full coverage, and no discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3441,3143,2813,2499],[‘Age 30’, 1807,1651,1467,1291],[‘Age 40’, 1735,1591,1423,1261],[‘Age 50’, 1589,1457,1305,1161],[‘Age 60’, 1557,1427,1279,1135],[‘Age 70’, 1787,1645,1487,1339]]);var options = {title: ‘Impact of Deductibles on Insurance Cost in Maryland’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},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 40-year-old driver could pocket $284 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $428 by switching to a $1,000 deductible. Younger drivers, like the Age 20 category, could roll back prices $942 or more just by choosing higher deductibles.

When increasing deductibles, it will be required to have plenty of savings on hand to allow you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Impact of citations and accidents on insurance rates

The best way to maintain low auto insurance premiums in Maryland for senior citizens is to be a good driver and avoid accidents and violations. The example below illustrates how violations and at-fault claims influence yearly insurance costs for different age categories. The data assumes a single female driver, comprehensive and collision coverage, $250 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’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 2983,3253,5581],[‘Age 30’, 2063,2333,4661],[‘Age 40’, 1915,2183,4513],[‘Age 50’, 1675,1947,4277],[‘Age 60’, 1619,1889,4217],[‘Age 70’, 1885,2155,4483]]);var options = {title: ‘Impact of Citations and Accidents on Maryland Insurance Prices’,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 previous chart, the average cost of car insurance in Maryland per year with no accidents and a clean driving record is $2,023. Factor in one speeding ticket and the average cost swells to $2,293, an increase of $270 each year. Now get two accidents along with the one speeding ticket and the yearly cost of auto insurance for seniors jumps again to an average of $4,622. That’s an increase of $2,599, or $217 per month, just for not driving attentively!

State Farm, Geico, Progressive, and Allstate: Who is best?

When buying auto insurance, the first places to look would be State Farm, Geico, Progressive, and Allstate. Combined they make up nearly half of the entire U.S. auto insurance market. The table below compares price, claims, and customer service ratings, as well as some optional coverages shoppers can expect to find with each one.