Table of contents
How much is car insurance in Owings Mills?
|Area||Average Monthly Car Insurance Premium|
You can see in the chart above that it's around $21 a month more expensive to insure your vehicle in Owings Mills than it is in the rest of Maryland.
The average cost of insuring your vehicle in Owings Mills is above the national rate. The average monthly payment in Owings Mills is about $62 more expensive than the rate for the rest of the U.S.
Bear in mind that while these rates represent the expected monthly payments for Owings Mills 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. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining your monthly premium.
We've broken down average rates for Owings Mills to help you understand what your policy's monthly premium will cost. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The longer you've been on the road, the more experienced of a driver you are. That experience can lead to some serious savings when it comes to car insurance premiums. 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.
For every 10 years, you can expect to see a decrease in your monthly premium. Once you hit retirement, however, your rates may climb back up a bit in Owings Mills.
Average Car Insurance Rates by Gender
Car insurance rates for men are usually slightly more expensive than they are for women. The price for insurance coverage in Owings Mills, however, is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
One of the biggest factors in determining your car insurance rates is your driving record. Those with clean records can expect to pay significantly less than those with infractions. In Owings Mills, drivers with one accident on their record will experience rates around $151 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $174.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$162|
|15 Years or Older||$129|
The most affordable vehicles to insure in Owings Mills are usually trucks and vans, which run about $115 per month.
Car owners can expect to pay an average of around $146 a month for their policy, while SUVs usually cost around $138 a month to insure.
In addition to vehicle type, you can also expect to see slightly different rates depending on how old your vehicle is. Newer vehicles are generally going to be the most expensive to insure. However, once your car is about 5 years old, you may start to see your monthly premium drop back down. In Owings Mills, the most expensive vehicles to insure are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$157|
Generally, those who have settled down into marriage will pay slightly less to insure their car. This usually boils down to owners having multiple vehicles on the same policy, something many companies offer special discounts for.
The difference in rates based on relationship status in Owings Mills is about $50 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||$196|
Your housing status is another component of how insurance companies calculate your monthly rate. If you rent your home or apartment, expect to pay around $5 a month more than if you own your own home in Owings Mills. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Owings Mills, MD
Recent trends in car insurance for Owings Mills drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before shopping for coverage.
In Owings Mills, auto insurance rates had been increasing from 2017-2019, before leveling out in 2020. Policy premiums finished down in 2022, at $135 a month
How does Owings Mills compare to neighboring areas?
Why are car insurance rates in Owings Mills different from other areas?
Car insurance companies will consider several factors when trying to decide how much to charge for a policy. While we've discussed the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Amount of off-street parking
- Area crime rates
- Amount of drivers in the community
- Community regulations
- Road safety
Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. Realizing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your corner of the world.
How can I find the cheapest car insurance in Owings Mills?
In the end, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies. Understanding what the average costs are for drivers prior to seeking out a quote can help you understand how closely the quote reflects local trends.
But wait! Compare.com does all of that work for you. Just punch in your ZIP Code below, answer a few questions on you and your vehicle, and you'll be comparing the cheapest quotes from dozens of car insurance companies providing coverage in Owings Mills.
Owings Mills Insurance FAQs
What factors affect car insurance quotes in Owings Mills?
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 age and gender, as well as your credit score, driving record, marital status, and address.
Why is the cost of car insurance in Owings Mills 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 local laws, crime rates, 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 Owings Mills?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Owings Mills?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good 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. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Owings Mills or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?