Honda Odyssey insurance cost image courtesy of QuoteInspector.com
If saving the most money is your goal, then the best way to get budget car insurance rates is to begin comparing prices regularly from different companies in Baltimore. Drivers can shop around by following these steps.
- Step 1: Learn about how companies price auto insurance and the things you can control to prevent expensive coverage. Many things that result in higher prices like tickets, at-fault accidents, and poor credit history can be rectified by improving your driving habits or financial responsibility. Later in this article we will cover more information to help prevent expensive coverage and get additional discounts that may be available.
- Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give rate quotes from a single company like Progressive or Allstate, while independent agents can quote prices for a wide range of companies. Compare rates now
- Step 3: Compare the price quotes to your existing policy and determine if cheaper Odyssey coverage is available. If you can save some money, make sure coverage does not lapse between policies.
One key aspect of rate comparisons is to compare similar coverage information on each quote request and to quote with as many companies as feasibly possible. Doing this provides an accurate price comparison and a thorough price selection.
It's well known that auto insurance companies don't want you comparing rates. Insureds who shop around for the cheapest rate are inclined to buy a different policy because there is a good probability of finding coverage at a more affordable price. Remarkably, a study showed that drivers who compared rate quotes regularly saved $3,450 over four years compared to drivers who never shopped for cheaper rates.
If saving money on car insurance is your ultimate target, learning how to get rate quotes and compare coverage rates can help make the process easier and more efficient.
Quote Baltimore Honda Odyssey insurance online
The companies shown below have been selected to offer free rate quotes in Maryland. To find the best cheap car insurance in MD, we suggest you visit two to three different companies in order to get a fair rate comparison.
Get cheaper rates by receiving discounts
Companies don't necessarily list all possible discounts very clearly, so the following is a list of some of the best known as well as some of the hidden credits that may apply to you. If you're not getting every credit possible, you're paying more than you need to.
- Drive Safe and Save - Insureds without accidents can pay as much as 50% less compared to accident prone drivers.
- Organization Discounts - Belonging to qualifying employment or professional organizations could earn you a nice discount on your next renewal.
- Student in College - Older children who are attending college and do not have access to a covered vehicle can receive lower rates.
- Home Ownership Discount - Owning a home in Baltimore may trigger a policy discount on auto insurance because owning a home means you have a higher level of financial diligence.
- Multi-Vehicle Discounts - Insuring multiple vehicles with the same auto insurance company may reduce the rate for each vehicle.
As a disclaimer on discounts, many deductions do not apply to the overall cost of the policy. A few only apply to the price of certain insurance coverages like comp or med pay. So when the math indicates you could get a free auto insurance policy, it just doesn't work that way.
The illustration below shows the difference between Honda Odyssey car insurance costs with and without discounts applied to the policy premium. The premium estimates are based on a male driver, no accidents or driving violations, Maryland state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, marriage, safe-driver, multi-policy, and homeowner discounts applied.
Car insurance companies that may offer policyholders most of the discounts above may include but are not limited to:
If you want cheaper Baltimore auto insurance quotes, ask every company which discounts you qualify for. A few discounts may not apply in your state. To find auto insurance companies that have a full spectrum of discounts in Maryland, click here.
Rate information and statistics
The data table displayed next outlines estimates of insurance costs for Honda Odyssey models. Having insight into how insurance premiums are calculated can assist in making decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Odyssey LX | $162 | $308 | $528 | $32 | $158 | $1,188 | $99 |
| Odyssey EX | $162 | $376 | $528 | $32 | $158 | $1,256 | $105 |
| Odyssey EX W/Rear Entertainment | $162 | $376 | $528 | $32 | $158 | $1,256 | $105 |
| Odyssey EX-L | $186 | $442 | $528 | $32 | $158 | $1,346 | $112 |
| Odyssey EX-L W/Rear Entertainment | $186 | $442 | $528 | $32 | $158 | $1,346 | $112 |
| Odyssey EX-L W/Navigation | $186 | $442 | $528 | $32 | $158 | $1,346 | $112 |
| Odyssey Touring | $210 | $442 | $528 | $32 | $158 | $1,370 | $114 |
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Data variables include single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can revise auto insurance rates noticeably.
Deductible analysis
When comparing car insurance rates, the most common question is which deductible level should you buy. The following insurance rates can help you understand the difference in cost when you buy lower versus higher physical damage deductibles. The first set of prices uses a $250 deductible for comprehensive and collision coverage and the second price table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Odyssey LX | $274 | $434 | $406 | $24 | $122 | $1,285 | $107 |
| Odyssey EX | $274 | $528 | $406 | $24 | $122 | $1,379 | $115 |
| Odyssey EX W/Rear Entertainment | $274 | $528 | $406 | $24 | $122 | $1,379 | $115 |
| Odyssey EX-L | $314 | $624 | $406 | $24 | $122 | $1,515 | $126 |
| Odyssey EX-L W/Rear Entertainment | $314 | $624 | $406 | $24 | $122 | $1,515 | $126 |
| Odyssey EX-L W/Navigation | $314 | $624 | $406 | $24 | $122 | $1,515 | $126 |
| Odyssey Touring | $354 | $624 | $406 | $24 | $122 | $1,555 | $130 |
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| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Odyssey LX | $222 | $350 | $406 | $24 | $122 | $1,124 | $94 |
| Odyssey EX | $222 | $426 | $406 | $24 | $122 | $1,200 | $100 |
| Odyssey EX W/Rear Entertainment | $222 | $426 | $406 | $24 | $122 | $1,200 | $100 |
| Odyssey EX-L | $256 | $502 | $406 | $24 | $122 | $1,310 | $109 |
| Odyssey EX-L W/Rear Entertainment | $256 | $502 | $406 | $24 | $122 | $1,310 | $109 |
| Odyssey EX-L W/Navigation | $256 | $502 | $406 | $24 | $122 | $1,310 | $109 |
| Odyssey Touring | $288 | $502 | $406 | $24 | $122 | $1,342 | $112 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Premium costs do not factor in specific zip code location which can revise prices considerably.
Based on this data, using a $250 deductible costs roughly $16 more each month or $192 a year across all Honda Odyssey models than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you have at a minimum 16 months between claim filings, you would save more money by going with a higher deductible.
Safe drivers pay less for car insurance
The chart below highlights how speeding tickets and accident claims can influence Honda Odyssey premium costs for different ages of insureds. Data assumes a single female driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.
Age-based car insurance rates by gender in Baltimore
The chart below shows the comparison of Honda Odyssey insurance costs for male and female drivers. The rates are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, single status, and no discounts are factored in.
Liability only or full coverage
The example below shows the comparison of Honda Odyssey premium costs when comparing full coverage to state minimum liability only. The premium estimates are based on no violations or accidents, $250 deductibles, marital status is single, and no other discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no exact rule that is best for determining when to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let's pretend your Honda Odyssey claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after paying the physical damage deductible. If premium cost is more than $700 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some situations where only buying liability is not financially feasible. If you still have a loan on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
Shop online but buy locally
Certain consumers would prefer to buy from a local agent and that can be a smart move Professional agents can help you build your policy and will help you if you have claims. An additional benefit of comparing insurance online is the fact that you can find cheap insurance quotes and still have a local agent. Putting coverage with local agencies is important particularly in Baltimore.
To make it easy to find an agent, after completing this quick form, your coverage information gets sent to insurance agents in Baltimore that give free quotes for your insurance coverage. It makes it easy because there is no need to visit any agencies since rate quotes are delivered to the email address you provide. If you need to get a comparison quote from a specific insurance company, don't hesitate to search and find their rate quote page and submit a quote form there.
Best car insurance agent in Baltimore
When narrowing the list to find a reliable agent, there are two different types of agencies and how they function. Insurance policy providers can be described as either independent or exclusive. Both properly insure your vehicles, but it's important to point out why they differ since it can affect the selection process.
Independent Insurance Agents (or Brokers)
These agents are not required to write business for one company so they have the ability to put coverage through many different insurance companies and find you cheaper rates. If prices rise, the agent simply finds a different carrier and you don't have to switch agencies.
When comparing insurance rates, we recommend you include rate quotes from a few independent agents to get the best comparison. Most have the option of insuring with mutual insurance companies that can offer cheaper rates than bigger companies.
The following are independent agents in Baltimore that can give you rate quotes.
- Allied Insurance Agency
7840 Eastern Ave - Baltimore, MD 21224 - (410) 282-1111 - View Map - Upper Chesapeake Insurance Agency Inc
900 S Charles St - Baltimore, MD 21230 - (410) 385-0455 - View Map - Austen's Insurance Inc
3407 Eastern Blvd - Baltimore, MD 21220 - (410) 686-4700 - View Map
Exclusive Insurance Agencies
Agents in the exclusive channel can only quote rates from one company and some examples include Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents cannot provide other company's prices so they have to upsell other benefits. Exclusive insurance agents are very knowledgeable on the products they sell and that can be a competitive advantage. A lot of people choose to use an exclusive agent primarily because of the prominence of the brand rather than having the cheapest rates.
The following is a list of exclusive insurance agencies in Baltimore that are able to give price quote information.
- Charmaine Barnes - State Farm Insurance Agent
900 S Ellwood Ave - Baltimore, MD 21224 - (410) 675-1900 - View Map - Mimi Brown - State Farm Insurance Agent
911 S Lakewood Ave - Baltimore, MD 21224 - (410) 878-0232 - View Map - Farmers Insurance - Charles Connolly
6719 York Rd - Baltimore, MD 21212 - (443) 863-7733 - View Map
Finding the right auto insurance agent is decision based upon more than just a cheap quote. These are some questions your agent should answer.
- Will the quote change when the policy is issued?
- When do they do a full risk review?
- Are they giving you every discount you deserve?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Is assistance available after office hours?
- Which company do they place the most coverage with?
- Will a damage claim use OEM or aftermarket replacement parts?
- Do they write coverage based solely on cost?
Lower Your Baltimore Insurance Rates
Part of the car insurance buying process is learning a few of the rating criteria that help determine your car insurance rates. When you understand what determines premiums, this enables you to make decisions that may reward you with big savings. Many things are part of the equation when you get your auto insurance bill. A few of the factors are predictable such as traffic violations, but some are less apparent like where you live or your financial responsibility.
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Vehicle risk influences prices - The type of car you are trying to find cheaper insurance for makes a substantial difference in how high your rates are. The best insurance prices are usually found on lower performance four cylinder passenger models, but many other things help determine your insurance rates.
The chart below is based on a single male driver age 30, full coverage with $1000 deductibles, and no discounts or violations. The data compares Honda Odyssey car insurance rates compared to other models of vehicles that have a range of performance rating factors.
- High stress job may mean higher premiums - Occupational choices like military generals, social workers, and accountants generally have the highest average rates in part from high stress levels and lengthy work days. On the other hand, occupations like scientists, students and performers receive lower rates.
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Experienced drivers are lower risk - Older, more experienced drivers tend to be more responsible, are lower risk to insure, and are safer drivers. Inexperience drivers tend to be careless and easily distracted behind the wheel so they pay higher car insurance rates.
The following data assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Pay more out-of-pocket - Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, covers your vehicle from damage. Examples of covered claims could be collision with another vehicle, hitting a deer, or theft. Deductibles for physical damage are the amount of money you are required to pay in the event of a claim. The more damage repair cost the insured is willing to pay, the less your car insurance will be.
- GPS tracking and theft deterrents lower rates - Selecting a car model with an alarm system can save you a little every year. Theft deterrent systems such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop vehicle theft.
- Consolidate and save - Many insurance companies will give a discount to customers who consolidate policies with them such as combining an auto and homeowners policy. Even if you're getting this discount it's always a smart idea to compare other company rates to make sure you are getting the best deal.
- Get married and pay less - Having a significant other actually saves money compared to being single. It demonstrates that you tend to be more mature and it's proven that drivers who are married file infrequent claims.
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Honda Odyssey insurance loss probability - Companies include the past claim trends for vehicles when setting rates for each model. Vehicles that tend to have higher number or severity of losses will have increased rates. The table below shows the loss history for Honda Odyssey vehicles.
For each coverage category, the loss probability for all vehicles, regardless of manufacturer or model, is equal to 100. Numbers below 100 represent a good loss history, while percentages above 100 point to more claims or tendency to have larger claims.
Auto Insurance Loss Data for Honda Odyssey Models Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda Odyssey 78 83 75 82 78 71 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Auto insurance protects more than just your car
Despite the potentially high cost of Honda Odyssey insurance, buying auto insurance is required in Maryland but also provides important benefits.
- Most states have mandatory liability insurance requirements which means state laws require a minimum amount of liability in order to get the vehicle licensed. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you took out a loan on your Odyssey, most lenders will require you to carry insurance to ensure loan repayment if the vehicle is totaled. If the policy lapses, the lender may have to buy a policy to insure your Honda for a much higher rate and force you to reimburse them for the much more expensive policy.
- Auto insurance preserves both your vehicle and your assets. It also can pay for all forms of medical expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If you have damage to your Honda as the result of the weather or an accident, your policy will pay to repair the damage minus the deductible amount.
The benefits of insuring your car are definitely more than the cost, particularly if you ever have a claim. On average, a vehicle owner in Baltimore is overpaying more than $750 every year so smart consumers compare quotes each time the policy renews to ensure rates are competitive.
More quotes mean more insurance savings
People who switch companies do it for a variety of reasons including poor customer service, denial of a claim, unfair underwriting practices or not issuing a premium refund. It doesn't matter what your reason, choosing a new company can be pretty painless.
Cheap Honda Odyssey insurance in Baltimore can be bought from both online companies in addition to many Baltimore insurance agents, so you need to quote Baltimore auto insurance with both to get a complete price analysis. Some insurance providers may not provide rate quotes online and many times these smaller providers only sell through independent agents.
When shopping online for insurance, it's not a good idea to buy lower coverage limits just to save a few bucks. In too many instances, drivers have reduced full coverage and discovered at claim time that it was a big mistake. Your strategy should be to purchase plenty of coverage for the lowest cost, not the least amount of coverage.
Much more information about insurance in Maryland can be found at the links below
- Driving in Bad Weather (Insurance Information Institute)
- How Much is Auto Insurance for Drivers Requiring a SR22 in Baltimore? (FAQ)
- What Auto Insurance is Cheapest for a Chevrolet Equinox in Baltimore? (FAQ)
- Who Has the Cheapest Baltimore Car Insurance for a Toyota RAV4? (FAQ)
- What Car Insurance is Cheapest for a 20 Year Old Male in Baltimore? (FAQ)
- Neck Injury FAQ (iihs.org)
- What does Personal Injury Protection (PIP) Cover? (Allstate)
- Vehicle Size and Weight FAQ (iihs.org)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)