I started Insurance Blog by Chris™ because I have a passion for insurance. Here at the blog, our job is to educate and inform people about the best insurance for them. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Mar 18, 2021

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Shopping for any kind of insurance isn’t typically on anyone’s “favorite things” list. It’s a right of passage into adulthood, just like buying life insurance or paying bills. That being said, no one wants to overpay for any service or item. Now, during the current pandemic and resulting job instability, every dollar counts.

Let’s take a 360 view of Nissan Maxima insurance rates–what are they, how are rates calculated, what car insurance companies to use, and any other relevant information. Once you’ve finished this article, you will be confident in your ability to find the cheapest car insurance premium for your budget.

A lot goes into factoring your car insurance rates–Factors such as your driving record, gender, age, marital status, credit history, safety features, driver discounts, and the make and model of your vehicle shape the overall cost of car insurance. Geographical location also plays a role. Car insurance may cost more in New York versus Wyoming.

To calculate the cost of your Nissan Maxima insurance, you need to understand how insurance providers look at risks associated with your vehicle.

How Much Does Nissan Maxima Insurance Cost?

2020 nissan maxima

The make or brand of your car is an important factor in the average cost of your insurance. For example, a Mercedes Benz will cost more than say, a Nissan or Honda, because of the brand backing the car. The average insurance cost of  Nissan Maxima is generally in the mid to high range, costing around $173/ month and roughly over $2,000/year.

Because the model is considered a luxury sedan, it may require expensive parts or servicing. The Nissan Altima will be slightly cheaper to insure because while it is a sedan, it doesn’t have the engine power or other luxury upgrades a Maxima contains.

The MSRP, or sticker price of your car directly affects your premium price. For example, a Nissan Sentra will have a cost difference because it is a compact model vs the Maxima’s luxury, midsize sedan. Models like a sports car will definitely cost more, due to limited safety or the likelihood of theft.

It also makes sense the newer the car’s model year, the more expensive your auto insurance rates will be.

Another huge contributor to your premium rates is the trim package you choose. There are over five different trim levels ranging from standard to all the bells and whistles available: S, SV, SL, SR, and Platinum. A standard trim level equals lower rates.

You want to get whatever type of car you want, however when looking at wheels, leather interiors, and upgraded technology, know that your overall insurance coverage price will increase. If you feel like the luxury equals the price increase, then, by all means, get exactly what you want.

Your specific car’s premium cost is based on a number of factors, each of which can impact the overall price of your insurance policy.

How Are Maxima Insurance Rates Determined?

The following is a breakdown of these factors along with other helpful information about owning a Nissan Maxima.

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Safety Rating & Damage Threshold

Safety ratings and damage thresholds can influence the price of your car insurance.

Good safety ratings may help decrease the price of your premium, while a vehicle that incurs huge repair bills for minor issues may cost quite a bit more to insure. The iihs uses the following rating system: G (good), A (Acceptable), M (Marginal), and P (Poor).

The 2020 Nissan Maxima was awarded G in all crash tests, LATCH system, and roof strength. It earned only one A in the headlight category because of non-curve adapting headlights and lower visibility when using low beams.

The National Highway Traffic Safety Administration lists the following safety ratings for Nissan Maximas.

Year Overall Frontal Side Rollover
2020 5 / 5 5 / 5 5 / 5 5 / 5
2018 5 / 5 4 /5 5 / 5 5 / 5
2017 5 / 5 5 / 5 5 / 5 5 / 5
2016 5 / 5 5 / 5 5 / 5 5 / 5

Discounts

There are several ways to grab a great discount on the price of insurance for your Nissan.

Safe Driver discounts are very popular, especially through Allstate. I know we have all seen the Allstate commercials numerous times; they are quite entertaining.

Some companies offer safe driving apps. Geico, in particular, uses DriveEasy, calculating how often you speed, use any hard braking, and even phone use. It calculates all that data and reports back to Geico. If you score well, you will become eligible for safe motorist discounts.

One option is to drive a car with modern safety equipment. New Nissan Maximas have a variety of features that may help reduce your insurance costs, such as seatbelts, airbags, anti-lock brakes, intelligent cruise control, and a front and rear sonar system.

Comprehensive & Collision Coverage

The overall cash value of your car also influences the price you pay for your comprehensive and collision insurance.

Collision coverage is just as it sounds. It covers your car should it collide with another car or object. It is cheaper each month, however it does leave a door open to other expensive repairs. If you choose comprehensive coverage, you are getting full coverage from the collision as well as fire, hail, and vandalism.

Kelley Blue Book lists the following values for vehicles purchased as certified from a dealer in the San Francisco 94102 area.

The “out-the-door” target price of a vehicle is the final price you end up paying, which includes taxes, document fees, and state DMV fees.

With all other factors being equal, the 2018 Maxima driver will have higher insurance premiums than the 2014 Maxima driver due to the provider’s risk of loss.

Year Fair Purchase Price OTD Target Price
2018  $24,346 $27,024
2016 $20,410 $20,716
2014  $10,371 $10,527

Claims Frequency & Potential to Cause Damage

The frequency of claims associated with a particular vehicle model can have a negative effect on all drivers of the same vehicle, regardless of their driving history.

For example, the more collision claims that are filed by drivers of Nissan Maximas, the more the insurance providers must payout.

The Insurance Institute for Highway Safety, Highway Loss Data Institute states that drivers of Nissan Maximas are 50 percent more likely than average to file a collision claim and 69 percent more likely than average to file a comprehensive claim.

These claims could have a negative influence on the price of your insurance quote.

Theft Rate

If a car is more likely to be stolen, it can affect the price of your insurance.

The National Insurance Crime Bureau’s Hot Wheels Report doesn’t include the Nissan Maxima on its list of most stolen vehicles, however, as of 2020, the Nissan Altima has rated the 6th most stolen vehicle in the US.  Choosing a Maxima may raise your MSRP, but an Altima will have a slightly increased premium despite the lower MSRP.

However, if you live in an area with a high crime rate, you may be able to receive a discount for anti-theft devices installed in your vehicle or by parking in a locked garage.

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What are the Best Companies for Nissan Maxima Insurance?

When it comes to getting a car insurance quote, it pays to spend a bit of time shopping around, comparing quotes, and reading reviews.

By doing so, you’ll get a better idea of the prices you can expect to pay and the quality of service you’re likely to receive.

Make sure to ask your insurance company these questions to see if you are eligible for discounts:

  • I have a clean driving record, could this reduce the price of my insurance?
  • This will be my second car, do you offer low mileage discounts?
  • I plan to keep my car in a garage overnight, can I receive a discount?

Now that you’ve learned what auto insurance companies look at regarding the risk and market value of the cars they insure, you should be able to evaluate price quotes and get the best Maxima policy for your money.