The words “cheap” and “auto insurance” really don’t belong together, in particular when searching for the best coverage prices for a school permit. In an attempt to save some money, let’s open your eyes to some of the factors that impact insurance prices, and come up with some ways to take the bite out of the next policy you buy.
One of the many considerations that determine the amount you pay for auto insurance is where you choose to live. Areas with more people or higher crime rates are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower coverage costs.
The following table sorts the most expensive areas in Ohio for a school permit to buy an auto insurance policy in. Cincinnati is ranked at #4 with the yearly price of $1,210 for car insurance, which is around $101 monthly.
|Rank||City||Premium Per Year|
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Price information shown is approximated as the garaging address in Cincinnati can alter coverage rates substantially.
The type of vehicle on the policy is one of the largest considerations when shopping for the lowest-priced car insurance for a school permit. Vehicles with average performance, an excellent safety record, or a track record of few liability claims will cost substantially less to insure than fast, unsafe models.
The information below showcases auto insurance premiums for the most economical automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$4,658|
|Ford Escape XLS 4WD||$4,664|
|Ford F-150 XLT Regular Cab 2WD||$5,196|
|Volkswagen Jetta 2.0T Station Wagon||$5,307|
|Ford Focus SE 4-Dr Sedan||$5,479|
|Ford Edge SE AWD||$5,486|
|Honda Odyssey EX W/Rear Entertainment||$5,479|
|Chevrolet Equinox LS 2WD||$5,521|
|Toyota Tacoma Double Cab 4WD||$5,531|
|Chevrolet Impala LT||$5,521|
|Toyota RAV4 Sport 4WD||$5,527|
|Chevrolet Malibu LT||$5,562|
|Ford Explorer Limited 2WD||$5,571|
|Dodge Grand Caravan SXT||$5,562|
|Hyundai Elantra Blue 4-Dr Sedan||$5,761|
|Toyota Camry SE||$5,803|
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Price data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium costs do not factor in specific garaging location which can increase or decrease insurance rates considerably.
Based upon the rates shown, we can infer that makes and models like the Honda CR-V, Ford Escape, Toyota Prius, Ford F-150, and Volkswagen Jetta are most likely going to be the most affordable vehicles to insure for a learners permit. The price for an auto insurance policy will be higher anyway just because there is more liability exposure for a school permit, but in general those specific models will have the cheapest auto insurance rates that you are likely to find.
Bad driving habits will cost you more
The common sense way to enjoy low insurance prices in Ohio for a learners permit is to be a safe driver and have a clean driving record. The information below shows how speeding tickets and accident claims drive up car insurance rates for each age group. The premiums are based on a married male driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
In the chart above, the average cost of car insurance per year with no accidents and a clean driving record is $1,028. Factor in two speeding tickets and the average cost surges to $1,414, an increase of $386 each year. Now add in two accidents along with the two speeding tickets and the 12-month cost of insurance for a school permit goes up to an average of $2,839. That’s an increase of $1,811, or $151 per month, just for not driving safely!
Ending up with the best car insurance provider can be challenging considering how many different insurance companies sell coverage in Cincinnati. The rank data in the next section can help you decide which providers you want to consider purchasing coverage from.
The ratings below are only made up of companies that insure vehicles across America, so companies that may only write in Ohio are not taken into consideration for these rankings. To compare rates and find the cheapest rates for a school permit, simply click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
The diagram below illustrates how choosing a deductible can influence premium costs when getting quotes for cheap insurance for a school permit. The information is based on a married female driver, comp and collision included, and no discounts are applied to the premium.
In the chart above, a 30-year-old driver could cut expenses by $250 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $378 by switching to a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could drop their prices as much as $536 annually by using a higher deductible.
If you make the decision to raise deductibles, it is important to have additional funds squirreled away to enable you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Why are you paying too much for Cincinnati car insurance?
Cincinnati, OH insurance rates are based on many factors that can increase your annual premium. Simply turning a year older, increasing liability limits, or getting a speeding ticket can produce rate changes resulting in some rates now being much cheaper than others. Additionally, car insurance companies amend premium rates as often as every three months to adjust for gains or losses. Significantly higher losses can cause rate hikes, while long-term profits may produce lower-priced Cincinnati car insurance rates.
To illustrate this point, the bar chart below shows rates for the cheapest car insurance in Cincinnati, OH for a 40-year-old male driver with no prior claims, no tickets, and good financial standing. When comparing rates based on his personal profile, Utica National has the most affordable car insurance rates in Cincinnati at $772 annually. This is $268 less than the average price paid by Ohio drivers of $1,040. Allied, Frankenmuth, Erie, and Travelers are the rest of the top five cheapest Cincinnati, OH auto insurance companies.
Now we will give the driver in the first chart some claims, a lower credit rating, and a speeding ticket. Because each insurer has a unique formula for determining rates, comparing prices may now present a different list of affordable companies as shown below.
Merchants Insurance Group now has the cheapest price in Cincinnati, OH with Cincinnati Insurance, Grange Mutual, Motorists Mutual, and General Casualty also having competitive pricing. This example demonstrates why it is important to perform a complete rate comparison when trying to find the lowest auto insurance quotes for a school permit. Car insurance prices are calculated by many things and can change substantially, so the best option when you last compared rates may now be wasting a lot of money.