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How much is car insurance in Lutherville Timonium?
|Area||Average Monthly Car Insurance Premium|
Car insurance coverage in Lutherville Timonium is about $33 cheaper than it is in the rest of Maryland.
Compared to the national average cost of auto coverage, Lutherville Timonium has higher rates. Coverage in Lutherville Timonium is about $8 more expensive than it is for the rest of the U.S.
Bear in mind that while these rates are the average costs for Lutherville Timonium drivers, it doesn't mean that's what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Your policy's monthly price is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.
But don't worry, we've broken down the average rate for Lutherville Timonium residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. If you think you might be overpaying for insurance in your area, enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads. That experience can lead to some serious savings when it comes to car insurance rates. According to the table above, you can see that 18-24-year-olds pay a lot more than someone who is at retirement age.
For every ten years older you get, you can expect to see a drop in your monthly premium. Once you hit retirement age, however, you may see your rates rise again in Lutherville Timonium.
Average Car Insurance Rates by Gender
Despite the national trend of women paying less than men for car insurance coverage, in Lutherville Timonium men actually pay $82 per month for coverage while women pay $100.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can vary wildly depending on your driving record. Those with clean records will see the most affordable rates, whereas even a single accident or infraction can cost you. In Lutherville Timonium, having a single accident on your record will usually get you rates around $112 a month. In addition, drivers with one ticket can expect to pay around $106 a month on average.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. Remember, the safer you are as a driver, the cheaper your car insurance will be.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$121|
|15 Years or Older||$78|
In terms of affordable coverage, the cheapest vehicles to insure in Lutherville Timonium are typically trucks and vans, at $67 per month.
Car owners can expect to pay an average of around $96 a month for their policy, while SUVs usually cost around $82 a month to insure.
Your vehicle's age also plays a role in your monthly payment. Generally, newer vehicles are going to cost the most to insure. Once your car is close to 5 years old, however, you may see your bill start to shrink a bit. The most expensive vehicles to insure in Lutherville Timonium are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$98|
Overall, those who have settled down into marriage will pay slightly less to insure their vehicle. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Lutherville Timonium is no exception, with the difference totaling to around $23 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$85|
Your living situation is another component of how insurance companies calculate your monthly rate. In Lutherville Timonium, homeowners can expect to pay around $39 a month less than those who rent. But if you live with your parents, you can expect to pay a lot more.
Depending on your insurance company, they may offer you a discount if you bundle your home or renters insurance with your auto policy.
Car Insurance Companies in Lutherville Timonium, MD
Recent trends in car insurance for Lutherville Timonium 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 Lutherville Timonium, car insurance rates had been increasing consistently from 2017 through the present, where they hit $139 per month in 2022.
How does Lutherville Timonium compare to neighboring areas?
Why are car insurance rates in Lutherville Timonium different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate a variety of factors. Where you live will also have a significant impact on your personal policy. This may include things like:
- Crime levels
- Total amount of drivers in the area
- Community regulations
- Road Safety (frequency of car accidents)
- Off-street parking access
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Lutherville Timonium?
In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.
Don't worry, Compare.com will handle the heavy lifting for you. Just type in your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from numerous car insurance companies that offer coverage in Lutherville Timonium.
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Lutherville Timonium Insurance FAQs
What factors affect car insurance quotes in Lutherville Timonium?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your address, driving record, credit score, and marital status.
Why is the cost of car insurance in Lutherville Timonium different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like parking situations, crime rates, and local laws when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Lutherville Timonium?
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 Lutherville Timonium?
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. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Lutherville Timonium or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?
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