How Much Does Insurance Cost for a Toyota Highlander in Maryland?

The chances of buying affordable car insurance for a Toyota Highlander in Maryland hinges on lots of different rating factors such as your birth date, if you have a tendancy to file claims, and if your driving record shows any at-fault accidents. Drivers in Maryland on average will pay $1,300 every 12 months to buy insurance for a Toyota Highlander, but that is an estimation assuming a 50-year-old married male who needs full coverage and $100 deductibles.

More than likely, you aren’t exactly 50 years old or even a male, single instead of married, or maybe you just want liability only. Just a very minor change in price quote data could end up in a significant change in the cost of a policy.

Auto insurance rates are unique for each driver, so the best way to quote the cheapest coverage for your Toyota is to make a habit of comparing rates at every renewal. It only takes a couple of minutes and you can get rates from some of the most affordable companies that insure vehicles in Maryland.

Cheapest Toyota Highlander Insurance Rates

The specific trim level tends to have a direct impact on the yearly cost, so the cost to insure a Highlander 2WD will be $262 less than the cost to insure the higher-end Highlander Hybrid Limited 4WD model, as demonstrated by the prices below.

Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Premium costs do not factor in specific zip code location which can lower or raise price quotes significantly.

Trying to find reasonably-priced auto insurance is tough enough, and determining which companies quote the most affordable auto insurance rates for a Toyota Highlander requires additional perseverance.

Each auto insurance company has a unique approach for determining rates, so let’s begin by examining the auto insurance companies that tend to be cheaper in Maryland. It’s important that you understand Maryland auto insurance rates are calculated based on many things which can substantially decrease or increase the cost of coverage. This price fluctuation is why consumers need to take the time to shop around with many companies to find the best insurance quotes for a Toyota Highlander. Insurance rates are made up of many factors and change frequently, so the most economical company when you last compared rates may now be one of the higher cost companies.

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USAA has some of the cheapest car insurance rates in Maryland at around $920 each year. Liberty Mutual, Penn National, Erie, and State Auto would also be considered some of the lowest-priced Maryland insurance companies.

As shown in the table above, if you currently have a policy with Liberty Mutual and switched to USAA, you could see annual savings of about $172. Drivers with Penn National might save as much as $206 a year, and Erie customers might lower prices by up to $207 a year.

Be aware that those policy rates are averages for all ages of drivers and types of vehicles and do not factor in a specific rate factor for a Toyota Highlander. So the auto insurance company that fits your needs best may not even be shown in the company chart above. That affirms the importance of why you need to compare rates from as many companies as possible using your own individual information.

The example below illustrates how choosing a deductible can influence annual premium costs when searching for cheap insurance for a Toyota Highlander. The price estimates are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.

The chart above illustrates that a 50-year-old driver could lower their policy premium by $294 a year by increasing from a $100 deductible up to a $500 deductible, or save $448 by selecting a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could possibly save up to $974 each year just by choosing higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is a good idea to have enough spare savings to be able to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

Why you are probably overpaying for Highlander insurance

Maryland auto insurance rates are impacted by many factors which can substantially decrease or increase the price you have to pay. Turning one year older, moving to a new city, or getting into an accident may generate price changes that can now make some companies cheaper in comparison to the competition. In addition, auto insurance companies file new rates without warning in order to remain profitable. An extended period of higher than normal claims can cause increased policy costs, while a better loss history can cause cheaper Highlander insurance rates.

To help illustrate this point, the graph below analyzes the cheapest car insurance in Maryland for a 45-year-old male driver with no accidents, a clean driving record, and a high credit rating. If we estimate prices based on his personal profile, USAA might quote the cheapest car insurance rates in Maryland at $930 per year. This is $629 less than the average policy premium paid by Maryland drivers of $1,559. Penn National, Liberty Mutual, Erie, and State Auto round out the rest of the cheapest Maryland auto insurance companies.

The example below compares rates after we give the driver from the first set of rates a claim surcharge, less-than-perfect credit, and a traffic ticket or two. Since each insurance company has their own formula for setting rates, analyzing rates will most likely result in a different set of affordable Maryland car insurance companies as shown below.

MetLife now has the best price in Maryland with Nationwide, Travelers, GEICO, and Liberty Mutual now rounding out the top five. This shows why consumers need to take the time to compare as many rates as possible when trying to get cheap auto insurance rates for a Toyota Highlander.

Rates are impacted by many factors and can change without notice, so the best company when you last compared rates may now be quite expensive.

Who has the cheapest Toyota Highlander insurance quotes?

There are many ways to find affordable auto insurance in Maryland, but the most frequently used methods are through an independent agent, an exclusive agency like Allstate or Auto-Owners, or buying direct from a company like Geico or Progressive. You can use whichever you prefer, but auto insurance shoppers should know the differences in how they provide rate quotes.

Independent insurance agents work for many companies and can quote your policy with every one. These types of agencies do not work for one specific company and can get prices from more than one company, which can give you more bang for your buck. If prices rise, they simply move the coverage in-house which is easy for the insured.

Exclusive agents are able to quote prices with one company, two examples being a Liberty Mutual or State Farm agent. These agents usually cannot quote rates from more than one company, so you might not find the best rates.

Drivers who opt to buy auto insurance direct skip an independent or exclusive agent and buy direct online or over the phone from a company like Progressive or Geico. Buying auto insurance direct can be good for consumers who do not have a lot of assets and know more than average about what auto insurance covers.

So which one of the three ways works best to buy cheap insurance for a Toyota Highlander in Maryland? It would be simple to say buying direct results in the best prices since there isn’t an agent involved, but in reality, that is not true. A valid argument could also be made that buying auto insurance from an independent agent guarantees the best prices because they can shop around, but that assumption is also not accurate. And sometimes, exclusive agents have extremely competitive rates that are well below what direct and independents offer.

Because there are so many factors that make up auto insurance rates, the only real way to not overpay for auto insurance is to get as many comparison quotes as possible. If time allows, get price quotes from all three to give yourself the best selection. For a list of auto insurance companies with low rates, click here to view.

How to find the cheapest auto insurance for a Toyota Highlander

The list below summarizes a few money-saving solutions that can help drivers find lower-cost coverage.

• Do not get into accidents
• If your vehicles are older, consider dropping full coverage
• Drive safe vehicles
• Avoid speeding and other traffic citations and pay less
• Raise your physical damage coverage deductibles
• Good credit scores may lower your rates
• Shop around and save

That last tip is remarkably important, as we discussed in the prior information. Rates change a lot, so don’t be afraid to change to a new company if you can find a cheaper rate. Many drivers tend to have loyalty to a certain company, but it isn’t a good idea if it’s costing you major coinage every year. If you have a few minutes, now is a great time to shop around to find cheaper auto insurance for a Toyota Highlander.