Cheap Car Insurance Quotes for Veterans in Maryland

You have most likely watched the catchy advertisements from companies like Allstate, Farmers, and The General claiming big savings. So you should just choose any one of them, right?

It’s not quite that easy, unfortunately, as there are a whole slew of unknown elements like where you live, whether you want full coverage, how high your deductibles should be, and if you are a man or woman, that all impact the cost of your policy. We are going to cover the types of situations that result in high rates and should give you a good start to your coverage search.

For veterans, one of the big criteria that establish auto insurance rates is your address in Maryland. Cities that have higher claim levels or more people like Baltimore, Towson, and Aspen Hill likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims have the enjoyment of a little cheaper coverage.

The information below displays the most expensive places in Maryland for veterans to buy car insurance in.

Table data uses comparative as specific Maryland zip code can decrease or increase rates significantly.

The vehicle on the policy is a significant factor that determines if you can find the best car insurance for veterans. Vehicles with high performance, poor safety features, or a track record of large liability claims will cost much more to insure than safer, lower-performance models. The list below shows car insurance premiums for the most budget-friendly automobiles to insure.

Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Rates do not factor in Maryland location which can lower or raise rates substantially.

Based upon the table data, we can assume that cars like the Honda Accord, Ford Escape, Jeep Wrangler, and Ford Explorer are most likely going to be some of the cheapest vehicles to insure for veterans.

The diagram below illustrates how your deductible choice can affect premium costs when trying to find cheap insurance for veterans. The price estimates are based on a single male driver, comp and collision included, 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’,’$1,000 Deductible’],[‘Age 20’, 5389,4901,4377,3881],[‘Age 30’, 2737,2517,2261,2017],[‘Age 40’, 2731,2493,2225,1969],[‘Age 50’, 2485,2271,2033,1805],[‘Age 60’, 2405,2199,1971,1753],[‘Age 70’, 2933,2693,2435,2191]]);var options = {title: ‘Impact of Deductibles on Car Insurance Rates in Maryland’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},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 $452 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $680 by switching to a $1,000 deductible. Youthful drivers, like the 20-year-old, can cut up to $1,508 each year just by choosing higher deductibles when buying full coverage.

When raising deductibles, it is essential to have spare funds to satisfy the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

Does full coverage make sense?

Finding cheap auto insurance for veterans in Maryland should be important to the majority of drivers, and an easy way to find cheap insurance is to buy only liability coverage. The illustration below illustrates the comparison of premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no claims, a clean driving record, $250 deductibles, marital status is single, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $250 Deductibles’, ‘Liability Only’],[‘Age 20’, 4967,1621],[‘Age 30’, 2577,887],[‘Age 40’, 2543,821],[‘Age 50’, 2317,769],[‘Age 60’, 2241,755],[‘Age 70’, 2731,1011]]);var options = {title: ‘Full Coverage Rates Compared to Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Maryland’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If averaged for all ages, physical damage coverage on your policy costs an extra $2,896 per year more than just insuring for liability. That raises the question if paying for full coverage is a waste of money. There is no clear-cut rule that is best for determining when to drop full coverage on your policy, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

There are some circumstances where dropping full coverage is not financially feasible. If you still owe a portion of the original loan, you have to keep full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should maintain full coverage.

How to find budget-friendly car insurance for veterans

Lowering your rates is not difficult, and here are some penny-pinching ideas that can help Maryland drivers buy lower-cost coverage.

• Higher deductibles mean lower rates
• Choose a safer vehicle and pay lower rates
• Higher credit ratings may save you money
• Having at-fault accidents will increase rates
• On older vehicles, drop full coverage
• Maintain a clean driving record
• Compare rates often to find the best deal

That last tip is particularly significant, as was affirmed in the prior article. Auto insurance rates in Maryland change frequently, so don’t be unwilling to buy from a different company if a lower price can be found.

Many drivers have brand loyalty and that’s fine, but is isn’t recommended if it’s costing you hundreds every year. It takes less than five minutes to compare rates and find cheaper insurance for veterans.