The chances of finding affordable insurance for a Honda Accord in Maryland depends upon a complex formula that considers things such as the mileage of your daily commute, your credit rating, and any prior driving offenses. Maryland drivers pay an average rate of $1,090 every 12 months to insure a Honda Accord, but that figure is a ballpark figure using cost data for a 40-year-old single female that has full coverage including both comprehensive and collision and $1,000 physical damage deductibles.
But there is a high probability that you are not a 40-year-old female, maybe you are married instead of single, or maybe your driving record has a blemish or two. Making minor changes in the rating input factors can result in big changes in how much insurance for a Honda Accord costs.
Auto insurance is not the same for everyone, so the most reliable way to find cheap insurance rates for your Honda is to start the habit of comparing rates at least once a year. Get your free quotes now and you can get rates from top-rated companies that insure Honda vehicles in Maryland.
The trim level of your Honda will influence the yearly cost, so the price you will be charged to insure a Accord LX 4-Dr Sedan model will be $384 lower than the cost to insure the higher-end Accord EX-L 2-Dr Coupe trim level, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accord LX 4-Dr Sedan||$162||$308||$448||$26||$134||$1,078||$90|
|Accord EX 4-Dr Sedan||$162||$308||$448||$26||$134||$1,078||$90|
|Accord LX-P 4-Dr Sedan||$162||$308||$448||$26||$134||$1,078||$90|
|Accord EX-L 4-Dr Sedan||$186||$376||$448||$26||$134||$1,170||$98|
|Accord EX 2-Dr Coupe||$186||$442||$596||$36||$178||$1,438||$120|
|Accord LX-S 2-Dr Coupe||$186||$442||$596||$36||$178||$1,438||$120|
|Accord EX-L 2-Dr Coupe||$210||$442||$596||$36||$178||$1,462||$122|
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Table data does not factor in vehicle garaging location which can decrease or increase insurance rates noticeably.
Ending up with the highest-rated auto insurance provider can be challenging considering how many different companies there are to choose from in Maryland. The ranking information in the next section can help you select which car insurance companies to look at shopping prices with. These ratings are for the largest auto insurers in America, so companies without a large exposure are not factored into this list.
The information below highlights how deductible choice can impact insurance rates when getting quotes for cheap insurance for a Honda Accord. The premiums are based on a married female driver, full physical damage coverage, and no policy discounts are applied.
In the chart above, a 50-year-old driver could save $278 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $420 by using a $1,000 deductible. Even younger insureds, like the 20-year-old example, could potentially save $690 each year just by choosing higher deductibles.
If you do raise deductibles, it will be necessary to have plenty of money set aside to be able to pay the extra out-of-pocket expense associated with higher deductibles.
Maryland car insurance rates are influenced by many factors which can substantially change the policy price. Simply having another birthday, filing a claim, or having an at-fault accident can trigger price changes that may make certain companies more affordable than others.
In addition to those changes, insurers change premium rates at least once a year to help ensure profitability. A period of higher than normal claims can cause a rate increase, while lower claim expenses can result in lower-cost Accord insurance rates.
The graph below shows the cheapest car insurance in Maryland for a 45-year-old female driver with no violations or accidents, and a good credit rating. If we look at prices based on her personal risk profile, USAA might quote the most affordable car insurance rates in Maryland at $958 annually. This is $601 less than the average policy premium paid by Maryland drivers of $1,559. Penn National, Liberty Mutual, Erie, and State Auto are also on the list of the best Maryland auto insurance companies.
The example below compares rates after we give the driver in the first chart a claim, poor credit, and a stop sign violation. Since each auto insurer uses their own calculation for establishing rates, comparing prices will most likely result in a different list of cheap Maryland auto insurance companies as shown below.
MetLife now has the best insurance rate in Maryland with Nationwide, Travelers, GEICO, and Penn National also being competitive. This shows why consumers need to compare rates to find the cheapest insurance rates for a Honda Accord. Rates consist of many things and change dramatically, so the most affordable company the last time you checked may now be priced much higher than other options.
The list below details many money-saving suggestions that can help you get lower-cost car insurance.
The final tip is very valuable, as we discussed in this article. Insurance rates change constantly, so don’t hesitate to switch carriers if you find a cheaper price.
Having a favorite company is fine, but we do not recommend it if that devotedness results in you overpaying lots of money. Spend a few minutes and compare prices and find cheaper insurance for a Honda Accord.
Drivers have a lot of different ways to get cheap car insurance quotes in Maryland, but the three most common ways are through an independent or non-exclusive agent, an exclusive insurance agency like State Farm or Auto-Owners, or from a direct company like Geico or Progressive. Each way has the same basic process, but they are slightly different in how they provide rate quotes.
Independent insurance agents have contracts with many companies and can quote your policy with every one. These agents are usually affiliated with several companies and can give you a larger rate selection, which may give you the best shot at cutting your rates. If prices rise, your agent can switch companies and the insured can keep the same agent.
Exclusive agencies are able to quote prices with a single insurance company, a couple examples are Allstate and Liberty Mutual agents. They usually cannot compare rates from other companies, so it’s a good idea to get additional price quotes.
Car insurance from a direct company means you skip a local agent and buy buying direct from a company like Esurance or Geico. This car insurance option may be good for families who do not have complex finances and understand what coverages they need.
Which method works best for finding the best cheap insurance for a Honda Accord in Maryland? The majority of car insurance shoppers assume that buying from a direct company yields the cheapest rates because there isn’t an agent involved, but unfortunately, that is not the case. It would also be easy to say buying from an independent agent is the best way since there are more companies to choose from, but again, it’s not necessarily true. For the right applicant, exclusive agencies may have very competitive prices that independents and direct companies can’t touch.
Since car insurance companies use so many rating factors, the one way to find out which one is cheapest is to obtain price quotes and compare them. We recommend you get price quotes from independent, exclusive, and direct in order to have enough rates to compare. To see some of the cheapest online companies available, click here to view.