Trying to buy budget auto insurance is not the easiest thing to do, and figuring out which company offers the most affordable insurance rates for college graduates will involve even more work. Every insurance provider has their own guidelines to determine premium rates, so we need to take a look at the insurance companies that tend to have lower prices in Cincinnati, OH.
It’s important that you understand Ohio insurance rates are influenced by many factors that can increase the cost of coverage. That is why it is critical to shop around with many companies to find the most affordable auto insurance quotes for college graduates. Auto insurance prices consist of many different factors and can increase or decrease at any time, so the cheapest rate three years ago may now be costing you a lot of money.
Find the Cheapest Car Insurance for Grads
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $661 |
| 3 | Frankenmuth | $687 |
| 4 | Allied | $690 |
| 5 | Travelers | $733 |
| 6 | USAA | $741 |
| 7 | Cincinnati Insurance | $756 |
| 8 | Merchants Insurance Group | $771 |
| 9 | Grange Mutual | $804 |
| 10 | General Casualty | $805 |
| 11 | Motorists Mutual | $824 |
| 12 | Central Mutual | $840 |
| 13 | Hastings Mutual | $858 |
| 14 | State Farm | $885 |
| 15 | Westfield | $908 |
| 16 | Atlantic States | $931 |
| 17 | Western Reserve | $932 |
| 18 | Nationwide | $988 |
| 19 | Auto-Owners | $988 |
| 20 | Progressive | $991 |
| Compare Rates Now Go | ||
Utica National quotes some of the lowest car insurance rates in Cincinnati at around $647 annually. Erie, Frankenmuth, Allied, and Travelers are also some of the cheaper Cincinnati, OH insurance companies.
In this example, if you currently have a policy with Travelers and switched to Erie, you might achieve a yearly savings of upwards of $72. Ohio drivers with USAA may save as much as $80 a year, and Cincinnati Insurance policyholders might reduce prices by as much as $95 a year.
Understand that those prices are averages for all types of drivers and the different vehicles they drive and are not factoring in an exact zip code location for college graduates. So the auto insurance company that is most affordable for your situation may not even be in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
For college grads, one of the big criteria that aid in calculating auto insurance rates is where you live. Cities with larger populations tend to have more expensive car insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.
The next table sorts the highest-priced areas in Ohio for college graduates to buy an auto insurance policy in. Cincinnati ranks #6 with an annual cost of $1,186 for the average insurance policy, which is about $99 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Youngstown | $1,273 |
| 2 | Columbus | $1,247 |
| 3 | Toledo | $1,241 |
| 4 | Cleveland | $1,222 |
| 5 | Cleveland Heights | $1,202 |
| 6 | Cincinnati | $1,186 |
| 7 | Euclid | $1,175 |
| 8 | Akron | $1,169 |
| 9 | Dayton | $1,108 |
| 10 | Hamilton | $1,102 |
| 11 | Fairfield | $1,095 |
| 12 | Canton | $1,069 |
| 13 | Springfield | $1,061 |
| 14 | Beavercreek | $1,058 |
| 15 | Newark | $1,053 |
| 16 | Kettering | $1,051 |
| 17 | Strongsville | $1,041 |
| 18 | Lakewood | $1,041 |
| 19 | Middletown | $1,024 |
| 20 | Parma | $1,007 |
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Premium amounts are estimated as the specific geographic location can change rates significantly.
Buying coverage from the best auto insurance provider can be difficult considering how many different companies sell coverage in Cincinnati. The ranking information displayed below could help you pick which companies to look at comparing rates from. The rankings below include insurance companies that insure vehicles in the majority of U.S. states, so companies that have a smaller presence are not taken into consideration for the list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Cincinnati car insurance rates
Insurance providers that provide policies for college graduates may provide discounts that may potentially lower prices by as much as 25% or more if you meet certain criteria. A few popular companies and some of their more popular discounts are included below.
- GEICO offers discounts for multi-vehicle, emergency military deployment, defensive driver, five-year accident-free, anti-theft, daytime running lights, and seat belt use.
- Travelers discounts include payment discounts, multi-car, good student, IntelliDrive, and student away at school.
- Farm Bureau has savings for 55 and retired, renewal discount, safe driver, good student, multi-vehicle, and driver training.
- Liberty Mutual includes discounts for newly retired, hybrid vehicle, exclusive group savings, preferred payment discount, and new graduate.
- American Family may have discounts that include mySafetyValet, accident-free, multi-vehicle, bundled insurance, defensive driver, and TimeAway discount.
- Progressive offers premium reductions for online quote discount, multi-vehicle, good student, online signing, homeowner, multi-policy, and continuous coverage.
The diagram below illustrates the difference between insurance prices with and without policy discounts. The information is based on a female driver, no violations or accidents, Ohio state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with multiple policy, accident-free, anti-theft, vehicle safety, safe-driver, and passive restraint discounts applied. In this example, the average savings per year on insurance for college graduates is 28% or $379.
Price comparison of only insuring for liability
Saving money on insurance should be important to the majority of vehicle owners, and one of the easiest ways to find cheap insurance for college graduates is to only pay for liability coverage. The diagram below shows the difference between car insurance costs when comparing full coverage to liability only. The prices are based on a clean driving record, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied.
If we average the cost for ages 20 through 70, physical damage coverage on your policy costs an extra $1,782 per year over and above liability coverage. A very common question is if paying for full coverage is a waste of money. There isn’t a written rule for eliminating physical damage coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.