By: Ishan Mukhopadhyay Jun. 15, 2018

Raltin recently conducted an analysis of car insurance premium rates for Montgomery County, MD, and found that consumers can save between $702 and $6,075 depending on the companies they choose. The greatest difference between the cheapest and median car insurance prices was for families with young drivers, at $6,075. The cheapest car insurance policy for this cohort is offered by Privilege Underwriters Reciprocal Exchange, at $2,438, while the median policy is provided by Mutual Benefit Insurance Company, at $8,513. For this analysis, Raltin used data published by the Maryland Insurance Administration.

For 23-year-old single women, the cheapest premium rate is offered by Geico Casualty Corporation, at $1,438. The difference from the median rate for this cohort stands at a significant amount of $2,195. For 23-year-old single men, this difference is $1,954. Once again, Geico Casualty Corporation offers the cheapest rate for this cohort, at $1,233.

For families with young drivers, the most expensive premium rate is offered by Dairyland Insurance Company, at $26,494. Consumers can save up to $17,981 by buying in a median-priced premium, at $8,513. The difference in amounts is noteworthy.

Privilege Underwriter Reciprocal Exchange offers the cheapest premium rates in 5 of 10 cohorts analyzed in Montgomery County, MD. In contrast, Dairyland Insurance Corporation offers the most expensive rates in 6 of 10 cohorts. For the former, prices start from $807 and go up to $2,438, depending on driver background and history. For the latter, the price range is between $5,022 and $26,494.

The following graph shows a comparison of premium rates across companies, for Montgomery County, Maryland.

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The following table compares the car insurance premium rates for key companies in Montgomery County, Maryland, along with the names of the companies and the differences between the median and cheapest or most expensive rates.

CohortCheapest Car Insurance Companies in Contra Costa County, CASecond Cheapest Car Insurance Companies in Contra Costa County, CAMedian Car Insurance Companies in Contra Costa County, CASecond Most Expensive Companies in Contra Costa County, CAMost Expensive Car Insurance Companies in Contra Costa County, CA
Family rate, youthful driversPrivilege Underwriters Reciprocal Exchange ($2,438)Horace Mann Insurance Company ($4,592)Mutual Benefit Insurance Company ($8,513)Foremost Insurance Company ($24,173)Dairyland Insurance Company ($26,494)
Family rate, no youthful driversOld Dominion Insurance Company ($1,170)Horace Mann Insurance Company ($1,176)Agency Insurance Company ($2,308)Hartford Casualty Insurance Company ($7,879)Dairyland Insurance Company ($8,684)
65-year-old single femalesPrivilege Underwriters Reciprocal Exchange ($556)Horace Mann Insurance Company ($614)Unitrin Auto & Home Insurance Company ($1,258)Foremost Insurance Company ($3,123)Dairyland Insurance Company ($5,022)
65-year-old single malesPrivilege Underwriters Reciprocal Exchange ($430)Peninsula Insurance Corporation ($537)Progressive Select Insurance Company ($1,158)Response Insurance Company ($2,660)Donegal Mutual Insurance Corporation ($4,176)
30-year-old single femalesHorace Mann Insurance Corporation ($724)Peninsula Insurance Corporation ($731)Erie Insurance Exchange ($1,267)Maryland Auto Insurance Fund ($3,080)Donegal Mutual Insurance Corporation ($6,222)
50-year-old single femalesPeninsula Insurance Corporation ($603)Horace Mann Insurance Corporation ($674)Cumberland Insurance Corporation Inc. ($1,325)Elephant Insurance Corporation ($3,133)Donegal Mutual Insurance Corporation ($4,084)
30-year-old-single malesPrivilege Underwriters Reciprocal Exchange ($807)Horace Mann Insurance Corporation ($843)Penn National Insurance Corporation ($1,786)Hartford Casualty Insurance Corporation ($4,842)Donegal Mutual Insurance Company ($7,152)
50-year-old single malesPrivilege Underwriters Reciprocal Exchange ($813)CSAA General Insurance Corporation ($858)Allstate Indemnity Corporation ($1,713)Maryland Auto Insurance Fund ($6,554)Dairyland Insurance Corporation ($7,980)
23-year-old single femalesGeico Casualty Corporation ($1,438)Horace Mann Insurance Corporation ($1,607)State Farm Fire & Casualty Corporation ($3,633)Hartford Casualty Insurance Corporation ($6,894)Dairyland Insurance Corporation ($9,206)
23-year-old single malesGeico Casualty Corporation ($1,233)Horace Mann Insurance Corporation ($1,460)Progressive Specialty Insurance Corporation ($3,187)Foremost Insurance Corporation ($7,391)Dairyland Insurance Corporation ($9,070)


ABOUT THE AUTHOR

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Ishan Mukhopadhyay

Ishan has over 5 years of experience as a freelance journalist and a content writer. He graduated from The English and Foreign Languages University and holds a Masters degree from the University of Hyderabad. Apart from the English language, Ishan's other passion is data driven journalism.

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