You have surely seen all the catchy advertisements from auto insurance companies like Progressive and Farmers that claim enormous savings, so drivers just need to choose the one with the flashiest ad, right?
It’s just not that easy, however, as there are a lot of unknowns like how old you are, any tickets or violations, what level of deductibles you wish to have, and how much you actually drive in a year, that all have an effect on the price of a policy. This article delves into the best ways to save money and will hopefully give the reader a good beginning to your quest for cheaper car insurance in Ohio.
For low mileage drivers, one of the largest things that are looked at to help calculate the amount you pay each year for auto insurance is where you keep your vehicle. Cities with larger populations or higher claim trends are more likely to pay higher prices, whereas areas with lower crime rates and fewer weather claims profit from lower rates.
The information below ranks the highest-priced areas in Ohio for infrequent drivers to purchase a policy in. Cincinnati is listed at #6 having an annual price of $1,174 for the average insured, which is approximately $98 each month.
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Annual rates are comparative as the specific zip code location can change premium rates substantially.
The type of vehicle you are seeking coverage for is one of the primary factors that determines whether or not you can buy the best cheap coverage for infrequent drivers. Vehicles with limited top-end speed, good crash test ratings, or a low likelihood of liability claims will cost significantly less to insure than high performance models. The data below outlines auto insurance costs for a selection of the most cost-effective vehicles to insure in Ohio.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,196|
|Honda Accord EX 4-Dr Sedan||$1,373|
|Chevrolet Malibu Hybrid||$1,412|
|Toyota Tacoma Double Cab 4WD||$1,440|
|Hyundai Elantra Blue 4-Dr Sedan||$1,459|
|Chevrolet Impala LTZ||$1,487|
|Ford Escape Limited 4WD||$1,492|
|Ford F-150 XLT Regular Cab 2WD||$1,509|
|Volkswagen Jetta SE 4-Dr Sedan||$1,514|
|Toyota Corolla XRS||$1,524|
|Ford Fusion SEL 4-Dr Sedan||$1,514|
|GMC Sierra SLT Extended Cab 2WD||$1,523|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$1,541|
|Dodge Ram Crew Cab ST 4WD||$1,544|
|GMC Sierra 2500HD SLT Crew Cab 4WD||$1,589|
|Honda Odyssey EX W/Rear Entertainment||$1,593|
|Ford F-250 XL Crew Cab 2WD||$1,618|
|Kia Optima SX||$1,624|
|Toyota Camry LE||$1,623|
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Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium amounts do not factor in Cincinnati, OH location which can modify rates noticeably.
Based on these rates, we can presume that models like the Honda CR-V, Honda Accord, and Chevrolet Malibu are going to be some of the most budget-friendly vehicles to insure for low mileage drivers.
Determining which companies have the cheapest auto insurance rates for infrequent drivers requires a tad more effort than just getting one or two price quotes. Every insurance provider has their own unique process for determining prices, so let’s take a look at the auto insurance companies that tend to be cheaper in Ohio.
It’s important that readers know that Ohio auto insurance rates are determined by lots of factors that may substantially change the policy premium. Simply getting older, increasing deductibles, or getting a DUI may prompt premium changes that can now make some companies more affordable than before.
Find Cheaper Auto Insurance in Ohio
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$755|
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Utica National may have some of the most affordable car insurance rates in Cincinnati at around $628 per year. This is $412 less than the average rate paid by Ohio drivers of $1,040. Erie, Frankenmuth, Allied, and USAA would also be considered some of the lowest-priced Cincinnati, OH auto insurance companies.
As shown in the table above, if you buy coverage from Frankenmuth and switched to Utica National, you could realize an annual savings of around $59. Insureds with Allied might save as much as $62 a year, and USAA policyholders might reduce prices by as much as $83 a year.
To get a quick, customized rate comparison, click here to begin a quote or visit any of the low-priced companies below.
Bear in mind that those estimates are averaged across all drivers and vehicles in Ohio and do not take into consideration a specific zip code for infrequent drivers. So the auto insurance company that fits your situation best may not even be in the top 33 companies in the list above. That affirms the importance of why you need to compare rates from multiple companies using your own personalized driver profile and vehicle information.
The information below demonstrates how deductibles can affect yearly insurance costs when searching for cheap insurance for infrequent drivers. The information is based on a married male driver, comprehensive and collision coverage, and no additional discounts are factored in.
In the chart above, a 40-year-old driver could lower their policy premium by $158 a year by switching from a $100 deductible up to a $500 deductible, or save $240 by using a $1,000 deductible. Younger drivers, like the Age 20 category, could save up to $528 or more just by choosing higher deductibles when buying full coverage. When raising deductibles, it’s a good idea to have plenty of discretionary funds to be able to cover the extra out-of-pocket expense associated with higher deductibles.
Selecting the best car insurance provider can be rather challenging considering how many companies sell coverage in Cincinnati. The ranking information in the next section could help you analyze which car insurance providers you want to consider purchasing from. The ratings below are for major nationwide insurance companies, so smaller companies that only insure vehicles in Ohio are not taken into consideration for this list.
Top 10 Large Auto Insurance Companies in Cincinnati Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Liberty Mutual
- Erie Insurance
Full coverage rates compared to liability-only
Buying cheaper auto insurance should be important to most drivers, and an easy way to pay lower rates for insurance for infrequent drivers is to buy liability only. The diagram below illustrates the comparison of auto insurance costs when comparing full coverage to liability only. The price estimates are based on no claims or driving citations, $100 deductibles, single marital status, and no discounts are applied.
If all age groups are averaged, comp and collision coverage costs $1,308 per year over having just liability coverage. A very common question is if paying for full coverage is worth it. There is no definitive guideline for excluding comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
There are a few situations where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.
The importance of comparing Cincinnati car insurance rates
Ohio auto insurance rates are based on many factors that may substantially change the price of your policy. Improving your credit score, marrying your spouse, or getting a few speeding tickets may cause policy rate changes that can make some companies cheaper than before. Not only may your risk profile change, but insurers change prices as often as every quarter in order to offset underwriting gains or losses. Higher than normal claims can cause higher rates, while profitable underwriting can cause more affordable Cincinnati car insurance rates.
To help illustrate this point, the graph below demonstrates which company has the cheapest car insurance in Cincinnati, OH for a 35-year-old male driver with no accidents, a clean driving record, and good financial standing. Based on his current risk factors, Utica National has the lowest car insurance rates in Cincinnati at $788 annually. This is $252 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and USAA are also on the list of the top five cheapest Cincinnati, OH auto insurance companies.
The chart below compares rates after we give the driver from above some claims, a lower credit rating, and a blemish on his driving record. Due to the fact that each insurance company uses their own method to determine rates, comparing quotes most likely will result in a slightly different list of affordable companies as shown below.
Cincinnati Insurance now has the lowest price in Cincinnati, OH with Merchants Insurance Group, Motorists Mutual, General Casualty, and Grange Mutual now being in the top five. This example illustrates why it is critical to take the time to shop around when trying to get the lowest auto insurance quotes for infrequent drivers. Rates are made up of many factors and change frequently, so the cheapest option the last time you compared rates may now be quite expensive.