How Much are Car Insurance Rates for Homeowners in Cincinnati?

For people who own their homes, one of the big criteria that are looked at to determine the amount you pay for auto insurance is where your residence is. Areas with high crime rates or more dense population will most likely have higher rates, whereas areas with less crime or weather claims can boast about having cheaper rates.

The table below lists the most expensive places in Ohio for homeowners to buy auto insurance in. Cincinnati is ranked at #4 with a yearly cost of $1,210 for the average insured, which is approximately $101 monthly.

Premium costs are approximated as the specific zip code location can change premium rates considerably.

Shopping around for budget insurance is confusing at best, and deciding which insurers offer the cheapest auto insurance rates for homeowners will involve a little more work. Each company has a unique formula for determining prices, so we need to take a look at the most competitive auto insurance companies in Ohio.

Best Insurance Companies for Homeowners

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Utica National offers some of the best car insurance rates in Cincinnati at around $647 each year. This is $393 less than the average policy premium paid by Ohio drivers of $1,040. Frankenmuth, Erie, Allied, and USAA also make the cut as some of the best Cincinnati, OH insurance companies.

As illustrated above, if you are insured with USAA and switched to Frankenmuth, you could realize savings of roughly $53. Ohio drivers with Travelers may save as much as $53 a year, and Cincinnati Insurance insureds might lower prices by $92 a year.

Remember that these policy prices are averages for all insureds and vehicles and do not take into consideration a specific zip code for homeowners. So the insurer that fits you best may not even be in the list above. That points out the importance of why you need to compare prices as often as possible using your own specific driver and vehicle information.

The type of vehicle needing coverage is one of the largest considerations when comparing quotes for cheaper auto insurance for homeowners. Vehicles with limited top-end speed, a great safety record, or a track record of few liability claims will cost less to insure than high performance models.

The list below ranks car insurance prices for the most economical vehicles to insure in Ohio.

Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Price estimates do not factor in the specific area where the vehicle is garaged which can impact price quotes substantially.

Looking at the data, we can conclude that vehicles like the Hyundai Elantra, Honda CR-V, Ford Escape, Jeep Wrangler, and Ford Explorer will definitely be a few of the most affordable vehicles to insure for people who own their homes.

Best auto insurance in Cincinnati

Picking the right insurance provider is hard considering how many companies sell coverage in Cincinnati. The company information in the lists below may help you pick which insurers you want to consider when comparing insurance rates for homeowners. These rankings are only comprised of companies who write in the majority of U.S. states, so companies that only write business in Ohio or surrounding areas are not included in this list.

Top 10 Major Car 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 Major Car Insurance Companies Overall in Cincinnati

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

The illustration below demonstrates how deductibles can increase or decrease insurance prices when getting quotes for cheap insurance for homeowners. The prices are based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.

As shown above, a 50-year-old driver could save $252 a year by switching from a $100 deductible to a $500 deductible, or save $380 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old example, could drop their prices $842 or more just by choosing higher deductibles. If you do raise deductibles, it will be required to have enough funds in savings to enable you to cover the extra out-of-pocket expense that is associated with using high deductibles.

How to find the cheapest insurance for homeowners

It is possible to find better rates, and here are some thrifty solutions that can help drivers get low-cost auto insurance.

• Avoid accidents
• Buying home and auto together can help save money
• Try to pay small claims out-of-pocket
• Buy safe vehicles
• Do not get traffic violations
• Compare rate quotes often

That final tip is remarkably valuable, as was discussed in the prior article. Rates change frequently, so drivers shouldn’t hesitate to buy from a new company if a cheaper price is available. Many drivers tend to have loyalty to a certain company, but is isn’t recommended if that dedication is costing potentially thousands of dollars a year. It only takes a couple minutes to compare rates to find cheaper car insurance for homeowners in Cincinnati.

If you aren’t sure which coverage to buy and prefer to have a professional recommendation when trying to find the best insurance rates for homeowners, the professional agents shown below are a good start to provide answers to your questions and help you determine which coverages and limits you need. To find a Cincinnati insurance agent by location nearest to you, click the button after the list.

More insurance agents in Cincinnati, OH