Top 5 Car Insurance Companies In Baltimore, Maryland
With a population of 602,495, Baltimore is the largest and most populous city in the state of Maryland. Noted for having more monuments and public statues than any other city in the country, Baltimore is also the state's economic hub. According to a report by the US Census Bureau, on average Baltimoreans take 30.7 minutes to commute to work. In a city as large as Baltimore, it means spending more time on the road, so more likely to be exposed to driving risks. Allstate ranked Baltimore as the least safe driving city in 2019. When applying for car insurance, companies determine the level of risk a driver poses and offer a quote based on that. The most common factors that impact rates include (but not limited to) age, gender, driving record, zip code, annual mileage, car model, and credit history. Baltimore drivers pay an average rate of $2115 in car insurance premiums per year. By comparing rates and reviews, drivers in Baltimore can save as much as $850 on car insurance premiums. Using market share data gathered for Maryland, Zimlon found these car insurance companies to be among the best in Baltimore.
GEICO- The Berkshire Hathaway subsidiary has the most significant market share of 24.3% amongst all insurance companies operating in the Maryland area, including Baltimore. The company has 758,789 direct premiums written, and 745,945 direct premiums earned. By opting for GEICO, drivers can avail plenty of discounts, including emergency roadside assistance and breakdown coverage. All of these factors can further impact car insurance quotes in Baltimore. As far as the ratings go, GEICO has an A.M. Best rating of A++ for financial strength in the market.
State Farm- Known for superior customer satisfaction and strong financial ratings, State Farm comes in second with a market share of 19.3%. The insurer has recorded 603,391 in direct premiums written, and 609,034 direct premiums earned. The company claims it can provide extensive coverage with a personalized approach thanks to its large presence, with nearly 18,000 agents located nationwide. With the help of State Farm's 'Good Neighbor' app, Baltimoreons can file claims and make payments right where they are. A.M. Best has given State Farm an A++ in financial strength ratings.
Allstate- Driven by their outstanding record for service and claims process, Allstate has a market share of 10.5% in Maryland. The company has written 329,168 direct premiums, and 326,537 direct premiums earned. Baltimore residents can use the cash-back program for safe driving and other discounts available for young drivers in the city. Allstate has an A.M. Best financial strength rating of A+.
USAA- With a market share of 8.5%, USAA is best known for catering to military members and veterans in Baltimore. The company has top-rated customer service and can offer up to 15% off to military servicemen and servicewomen for storing vehicles on base. For retired and active-duty military members, USAA has written 266,124 direct premiums and 262,164 direct premiums earned. A.M. Best awarded USAA with A++ rating for financial strength.
Erie Insurance- Reputed for outstanding customer service and claims handling, Erie Insurance has a market share of 8.1% in Maryland. Currently only available in 12 states, the company has written 253,495 direct premiums and 243,751 direct premiums earned in the state. Baltimoreons looking for unique coverage options including protection for ride-along pets, Erie Insurance offers generous built-in car insurance coverage. With an impressive customer satisfaction record, Erie Insurance has an A+ A.M. Best rating for financial strength.