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How much is car insurance in Lanham?
|Area||Average Monthly Car Insurance Premium|
Car insurance coverage in Lanham is about $4 cheaper than it is in the rest of Maryland.
On the flip side, Lanham residents should prepare to pay higher rates for coverage than the rest of the country. It's about $37 more expensive than the national average to insure your vehicle in Lanham.
Although these are the average rates for auto insurance in Lanham, that doesn't mean it's exactly what you'll pay. Insurance companies take in a variety of factors when determining how much to charge you for coverage. Age, gender, vehicle make and model, driving record, and in some cases, your credit score, are all factored into assessing the final dollar amount you'll be asked to pay each month.
We've done the heavy lifting for you and broken down the average rate for Lanham so that you can get a more accurate idea of what your monthly bill might be. And if you're not certain that you're paying the lowest option, simply enter your ZIP below and find out in just minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads, right? That experience pays off when it comes to auto insurance. According to the table above, you can see that 18-24-year-olds pay two times as much as someone who is at retirement age.
You can expect to see your monthly premium drop every 10 years or so. Having said that, once you approach retirement your rates may climb back up a bit in Lanham.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less than male drivers for car insurance. In Lanham, although men do pay a little bit less on their monthly premiums, the price is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a huge impact on your car insurance rates. Those with fewer accidents and tickets will pay much less than those with multiple infractions, while those with clean driving records will obviously pay the least. Drivers in Lanham with a single accident will pay around $151 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $153.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$114|
|15 Years or Older||$111|
The most affordable vehicles to insure in Lanham are typically trucks and vans, which run about $93 per month.
Car owners can expect to pay an average of around $122 a month for their policy, while SUVs usually cost around $111 a month to insure.
Vehicle age can also affect your monthly bill. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is a few years old, you may start to see your monthly premium drop back down. The most expensive vehicles to insure in Lanham are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$125|
Overall, car insurance is slightly cheaper for married policyholders. This usually happens because companies will extend special discounts to policyholders with multiple vehicles that are on the same policy.
In Lanham, the difference in rates based on relationship status can be as much as $26 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$125|
Another factor that comes into play is your living situation. If you rent your home or apartment, expect to pay around $22 a month more than drivers who own property in Lanham. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your car insurance premiums, depending on your insurance company.
Car Insurance Companies in Lanham, MD
Recent trends in car insurance for Lanham drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when choosing your car insurance policy.
In Lanham, the rates for auto insurance increased from 2017-2020, when they reached a high of $149. This leveled out in 2021, when rates began to decrease. This trend has continued through the present, where rates recently hit $120.
How does Lanham compare to neighboring areas?
Why are car insurance rates in Lanham different from other areas?
There are several factors car insurance companies will consider when choosing how much to charge for a monthly rate. While we mentioned the factors that affect your personal policy, others are based around where you call home. These include things like:
- Rate of car accidents
- Off-street parking availability
- Area crime rates
- Number of drivers
You can't change these factors yourself, but they're something to take into consideration when shopping for a new policy or looking to move into an area. Get started with a guide like this to get familiar with the average rates of your area.
How can I find the cheapest car insurance in Lanham?
While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But hold on! Compare.com does all of that work for you. Just punch in your ZIP Code below, answer a few questions about you and your car, and you'll be comparing the cheapest quotes from loads of the car insurance companies offering coverage in Lanham.
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Lanham Insurance FAQs
What factors affect car insurance quotes in Lanham?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your age and gender but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Lanham different from other neighboring cities?
Crime rates, local laws, and parking situations -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Lanham?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Lanham?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Lanham or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.
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