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How much is car insurance in Montgomery Village?
|Area||Average Monthly Car Insurance Premium|
Auto insurance coverage in Montgomery Village is about $30 cheaper than it is in the rest of Maryland.
Compared to the national average cost of auto coverage, Montgomery Village has higher rates. The average monthly payment in Montgomery Village is about $11 more expensive than the rate for the rest of the U.S.
While these are the average costs to insure your vehicle in Montgomery Village, keep in mind that you could end up paying a different amount. Insurance companies take in a variety of factors when determining how much to charge you for coverage. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in your policy's monthly price.
We've analyzed the average rate for Montgomery Village and broken down the different factors to help you understand what your policy's monthly premium will be. To find out if you're overpaying for your area, just enter your ZIP below and find out in minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The older you are, the more experience you're likely to have on the roads, right? That experience can lead to some serious savings when it comes to car insurance bills. As you can see, 18-24-year-olds pay two times as much as drivers of retirement age.
You can expect to see your monthly premium drop about once a decade or so. That said, once you hit retirement, your rates may begin to go back up in Montgomery Village.
Average Car Insurance Rates by Gender
Car insurance rates for men are usually slightly more expensive than they are for women. This rings true in Montgomery Village, where women pay around $8 less per month than men. As you can see in the chart above, car insurance for women in the area typically costs around $88 each month, while men pay $96 on average.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. Drivers in Montgomery Village with one accident will pay around $130 a month. Likewise, if you have one ticket, you'll be looking at an average rate of around $93.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$101|
|15 Years or Older||$86|
In Montgomery Village, the cheapest vehicles to insure are by and large trucks and vans, with drivers paying around $71 per month for insurance coverage.
Car owners can expect to pay an average of around $92 a month for their policy, while SUVs usually cost around $98 a month to insure.
You can also expect to see slightly different rates depending on how old your vehicle is. Generally, newer vehicles are going to be the most expensive to insure. However, your rates may start to drop back down once your car is a few years old. In Montgomery Village, the most expensive vehicles to insure are vehicles four-to-five years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$95|
Overall, married policyholders will pay slightly less for car insurance coverage. This usually boils down to owners having multiple vehicles on the same policy, something many companies extend special discounts for.
The difference in rates based on relationship status in Montgomery Village is about $7 a month, with married couples paying less for coverage than single drivers.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$61|
Another factor that comes into play is your housing situation. If you rent your home or apartment, expect to pay around $16 a month more than if you own your own home in Montgomery Village. 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 average premiums, depending on your insurance company.
Car Insurance Companies in Montgomery Village, MD
Recent trends in car insurance for Montgomery Village 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.
Auto insurance rates in Montgomery Village went up from 2017-2020, but began to decrease in 2021. This trend has continued through 2022 when rates have most recently reached $85 a month.
How does Montgomery Village compare to neighboring areas?
Why are car insurance rates in Montgomery Village different from other areas?
Car insurance companies look at a variety of factors when they're figuring out how much to charge for a policy. While we already mentioned the ones that affect your personal policy, others are influenced by where you park your car. These include things like:
- Local crime rates
- Area regulations
- Road Safety (frequency of local car accidents)
- Off-street parking access
- Total number of drivers in the community
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Montgomery Village?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, 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 has you covered. Just punch in your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from numerous car insurance companies providing plans in Montgomery Village in no time.
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Montgomery Village Insurance FAQs
What factors affect car insurance quotes in Montgomery Village?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your age and gender, but also factors like your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Montgomery Village 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 crime rates, local laws, and parking situations when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Montgomery Village?
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 however, by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Montgomery Village?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart 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 time, regardless of how long is left on your current policy. So, if you've recently moved to Montgomery Village or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.
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