Cheapest Auto Insurance for Drivers with Bad Credit in Maryland

The vehicle model requiring insurance is probably the biggest factor when shopping around for the cheapest car insurance for drivers with bad credit in Maryland. Vehicles with economical engines, good safety features, or low incidents of liability claims will cost significantly less to insure than higher performance models.

The tables below ranks coverage rates for some of the most budget-friendly vehicles to insure in Maryland.

Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Premium costs do not factor in specific zip code location which can modify coverage prices considerably.

Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Table data does not factor in specific zip code location which can revise price quotes considerably.

Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Maryland minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Price information does not factor in vehicle garaging location which can lower or raise premium rates significantly.

One of the many criteria that aid in calculating the annual cost of car insurance is where you keep your car in Maryland. Areas that are densely populated or have higher claim frequency like Baltimore, Dundalk, and Aspen Hill are more likely to have higher rates, whereas areas with less congestion receive better rates.

The table below rates the more expensive cities in Maryland for drivers with bad credit in which to buy car insurance.

Rates are estimated as the specific area where the vehicle is garaged can decrease or increase coverage prices greatly.

What is the best car insurance company in Maryland?

Finding the highest-rated company can be challenging considering how many different insurance companies sell coverage in Maryland. The information in the next section could help you pick which companies you want to consider when shopping around. These ratings are only comprised of the largest companies in America, so companies that may only write in Maryland will not be included in the list.

How careless driving impacts car insurance rates

One of the best ways to receive the cheapest car insurance for drivers with bad credit in Maryland is to be a good driver and avoid accidents and traffic citations. The information below illustrates how traffic citations and fender-benders can impact yearly insurance costs for each different age category. The information is based on a married female driver, full coverage, $100 deductibles, and no policy discounts are applied.

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The data in the chart shows the average cost of car insurance per year with no accidents or violations is $2,438. Receive two speeding tickets and the average cost jumps to $3,482, an increase of $1,044 each year. Then add in one accident along with the two speeding tickets and the annual cost of car insurance for drivers with bad credit jumps again to an average of $4,536. That’s an increase of $2,098, or $175 per month, just for being a little careless behind the wheel!

Find the cheapest car insurance for drivers with bad credit in Maryland

It is possible to find better rates, and here are some penny-pinching ideas that can help Maryland drivers quote more affordable auto insurance.

• Prevent price hikes by avoiding at-fault accidents
• Drivers with good credit ratings often pay less
• Do not pay for full coverage on older vehicles
• Buying home and auto insurance together can earn discounts
• Drive vehicles with five-star safety ratings
• Shop your coverage around for the best deal

The last item on the list is extraordinarily crucial, as we emphasized in this article. Prices can change in a short period of time, so don’t hesitate to switch carriers if a lower price can be found.

Staying with the same company for years is fine, but it’s not a good idea if that devotedness results in you overpaying a small fortune. In just a few minutes you could compare prices and find cheaper auto insurance for drivers with bad credit.

Who has the cheapest insurance quotes for people with poor credit?

Drivers have a lot of ways to get cheap car insurance quotes in Maryland, but the most popular methods are from an exclusive insurance agency such as Auto-Owners or State Farm, an independent or non-exclusive agent, or from a direct company like Progressive.

You can use whichever you prefer, but buyers should know the differences in how they function.

Independent insurance agencies have contracts with multiple insurance companies and can get rate quotes from all of them. They are not limited to a single company and can give you more rate choices, which may give you a better chance of saving money. If your agent finds a cheaper company, your policy can be moved and the insured can keep the same agent.

An agent who is captive is limited to one company, a couple examples are Allstate or Farmers Insurance agents. Exclusive agents are unable to compare rates from other companies, which will not provide a complete price comparison.

The last way is buying direct, which means you forego an exlusive or independent agent and instead shop direct online or over the phone from a company like Esurance or Geico. Shopping direct may be preferred by drivers who have lower risk management needs and understand what coverage options they need.

What is the best way to buy the cheapest car insurance for drivers with bad credit in Maryland? It would be obvious to point out buying from a direct company results in the best prices since it doesn’t require paying agent commissions, but unfortunately, that is not the case. A good argument could also be made that using an independent agent guarantees the lowest rates due to having more companies to select from, but again, it’s not a sure thing. In the right set of circumstances, exclusive agencies have very competitive rates that other companies cannot beat.

Because there is so much variation in car insurance prices, really the best method to ensure you are not overpaying is to get rate quotes and compare. Set aside the time to get quotes from all three in order to have enough rates to compare. For a list of car insurance companies with low rates, click here to view.