Who Has Affordable Cincinnati Auto Insurance Rates for Drivers Over Age 50?

Determining which companies quote the cheapest car insurance rates for drivers over age 50 requires a little more effort in order to find a policy that fits your budget. Each insurer uses a little different formula to establish rates, so let’s take a look at the most budget-friendly car insurance companies in Cincinnati, OH.

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Who has the cheapest car insurance in Ohio?
Rank Company Cost Per Year
1 Utica National $635
2 Erie $687
3 Allied $697
4 Travelers $705
5 Frankenmuth $708
6 USAA $733
7 Merchants Insurance Group $755
8 Cincinnati Insurance $779
9 Motorists Mutual $792
10 General Casualty $813
11 Grange Mutual $828
12 Hastings Mutual $866
13 Central Mutual $866
14 State Farm $885
15 Westfield $908
16 Atlantic States $913
17 Auto-Owners $958
18 Western Reserve $961
19 Progressive $962
20 Nationwide $998
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Utica National has some of the best car insurance rates in Cincinnati at around $635 per year. This is $405 less than the average price paid by Ohio drivers of $1,040. Erie, Allied, Travelers, and Frankenmuth would also be considered some of the best Cincinnati, OH auto insurance companies.

As the rates illustrate above, if you are currently insured with Allied and switched to Utica National, you might achieve savings of about $62. Insureds with Travelers may save as much as $70 a year, and Frankenmuth policyholders might cut rates by $73 a year.

To get a quick, customized rate comparison, click here or quote prices from the following companies.

These policy rates are averaged for all drivers and vehicles in Ohio and and are not figured with an exact location for drivers over age 50. So the company that is most affordable for your situation may not even be in the list above. That illustrates why you need to get rate quotes from many companies using your own driver and vehicle profiles.

The vehicle requiring insurance is probably the largest consideration that determines whether or not you can buy low-cost insurance for drivers over age 50. Vehicles with limited speed and performance, advanced safety features, or low incidents of liability claims will cost significantly less to insure than adrenaline junky models. The next list features insurance costs for a number of the most affordable automobiles to buy insurance for.

Cheapest Vehicles to Insure in Cincinnati, OH
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda CR-V EX 4WD $1,246
Ford Escape Limited 4WD $1,322
Toyota Prius $1,349
Toyota Tacoma 2WD $1,417
Ford Focus SE 4-Dr Sedan $1,424
Toyota RAV4 Sport 2WD $1,444
Chevrolet Equinox LT 2WD $1,451
Volkswagen Jetta S 4-Dr Sedan $1,444
Chevrolet Silverado LT Extended Cab 4WD $1,449
Dodge Grand Caravan Hero $1,444
Jeep Wrangler Unlimited Sport 2WD 4-Dr $1,470
Dodge Ram 3500 Crew Cab Laramie 2WD $1,472
Ford F-150 FX4 Super Cab 4WD $1,481
Ford Explorer Limited 4WD $1,472
Honda Civic LX-S 4-Dr Sedan $1,492
Hyundai Elantra SE 4-Dr Sedan $1,520
Honda Odyssey EX-L W/Navigation $1,525
Chevrolet Impala LTZ $1,520
Ford Edge Sport 2WD $1,530
Toyota Camry SE $1,520
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Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Price information does not factor in vehicle garaging location which can affect prices considerably.

Based upon the table data, we can expect cars like the Honda CR-V, Ford Escape, and Toyota Prius will be a few of the most budget-friendly vehicles to insure for older drivers.

The example below illustrates how your choice of deductibles can change insurance rates when getting quotes for cheap insurance for drivers over age 50. The data is based on a single male driver, full coverage, and no discounts are applied to the premium.

In the chart above, a 50-year-old driver could lower their car insurance rates by $252 a year by increasing from a $100 deductible to a $500 deductible, or save $380 by switching to a $1,000 deductible. Even younger insureds, like the age 20 example, could possibly save as much as $842 or even more just by choosing larger deductibles. When increasing deductibles, it will be required to have enough savings set aside to be able to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Best car insurance in Cincinnati

Ending up with a good quality insurance company can be a challenge considering how many different companies insure vehicles in Cincinnati. The company information in the next section can help you pick which auto insurers you want to consider comparing rate quotes with. The ratings below are for companies who write in the majority of U.S. states, so companies that focus mainly on Ohio business are not included in this list.

Top 10 Large Auto Insurance Companies in Cincinnati Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Erie Insurance
  5. State Farm
  6. Liberty Mutual
  7. Safeco Insurance
  8. Allstate
  9. 21st Century
  10. Travelers

Top 10 Large Auto Insurance Companies in Cincinnati Ranked by Customer Service

  1. Nationwide
  2. State Farm
  3. Safeco Insurance
  4. American Family
  5. Titan Insurance
  6. Travelers
  7. Liberty Mutual
  8. GEICO
  9. Erie Insurance
  10. Allstate

Full coverage rates vs. liability-only

Paying less for car insurance is important to the majority of people, and one of the quickest ways to lower the cost of insurance for drivers over age 50 is to only buy liability coverage. The example below illustrates the comparison of insurance premiums when comparing full coverage to liability only. The premium estimates are based on no accidents or driving violations, $500 deductibles, single status, and no other discounts are factored in.

Averaged for all ages 20 through 70, full coverage on your policy costs an additional $1,436 per year more than just insuring for liability. At some point, almost every driver questions if you should buy full coverage at all. There is no clear-cut rule to drop comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

There are some scenarios where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage.

How to find economical auto insurance for drivers over age 50

It’s not impossible to find cheaper rates, and here are some of the recommended penny-pinching suggestions that can help you quote lower-cost coverage.

The last tip in the list is certainly vital, as was pointed out in the prior information. Insurance rates go up and down frequently, so drivers shouldn’t be resistant to buy from a new company if a lower price can be found.

Loyalty to a specific company is fine, but it’s not recommended if that loyalty ends up costing a small fortune year after year. If you have a few minutes, now is a great time to shop around and find cheaper car insurance for drivers over age 50 in Cincinnati.