You have most likely seen the captivating commercials from companies like The General, GEICO, and Farmers promising dirt cheap rates. So drivers just need to pick one randomly, right?
It’s not that simple, unfortunately, as there are a lot of unknown factors like if you are married, what your desired deductibles are, and whether you are female or male. This article goes into detail about the things that cause high insurance rates and will hopefully give the reader a good start to your coverage search.
Trying to buy reasonably-priced car insurance is not always easy, and finding out which insurers offer the most affordable auto insurance rates for a company car involves even more work.
Each insurer has a proprietary formula to set premium rates, so first we will examine the most affordable auto insurance companies in Ohio. It’s important that readers know that Cincinnati, OH auto insurance rates are based on many factors which can substantially change the cost of coverage. Simply getting older, increasing deductibles, or getting a reckless driving citation may prompt premium changes resulting in some rates now being much higher than others.
Cheapest Insurance Rates in Ohio
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $661 |
| 3 | Allied | $690 |
| 4 | Frankenmuth | $708 |
| 5 | USAA | $719 |
| 6 | Travelers | $733 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $755 |
| 9 | Grange Mutual | $804 |
| 10 | Motorists Mutual | $816 |
| 11 | General Casualty | $837 |
| 12 | State Farm | $867 |
| 13 | Central Mutual | $874 |
| 14 | Hastings Mutual | $884 |
| 15 | Westfield | $908 |
| 16 | Atlantic States | $913 |
| 17 | Western Reserve | $970 |
| 18 | Progressive | $982 |
| 19 | Auto-Owners | $988 |
| 20 | Farmers | $995 |
| Compare Rates Now Go | ||
Utica National normally has some of the best car insurance rates in Cincinnati at around $647 each year. Erie, Allied, Frankenmuth, and USAA also are some of the lowest-priced Cincinnati, OH insurance companies.
As illustrated above, if you are a policyholder with Frankenmuth and switched to Utica National, you may realize an annual premium reduction of about $61. Customers with USAA may save as much as $72 a year, and Travelers insureds might realize rate reductions of up to $86 a year.
Be aware that those policy prices are averages for all insureds and vehicles and are not factoring in a specific location for a company car. So the auto insurance company that fits your situation best may not even be in the top 33 companies shown above. That affirms the importance of why you need to get quotes using your own specific driver information and vehicle.
The car, truck, or SUV you are buying coverage for is one of the largest considerations when consumers are trying to find cheap car insurance for a company car. Vehicles with lower performance, a plethora of safety features, or a positive history of liability claims will cost significantly less to insure than higher performance models. The list below features car insurance rates for a handful of the most cost-effective automobiles to insure in Ohio.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,263 |
| Honda CR-V EX-L 2WD | $1,272 |
| Honda Accord EX-L 4-Dr Sedan | $1,344 |
| Dodge Grand Caravan CV | $1,386 |
| Hyundai Elantra GLS Touring Station Wagon | $1,396 |
| Toyota RAV4 Limited 2WD | $1,466 |
| Ford Explorer Eddie Bauer 4WD | $1,494 |
| Ford F-150 Lariat Crew Cab 2WD | $1,500 |
| Toyota Prius | $1,504 |
| Toyota Camry XLE | $1,544 |
| Ford Edge SE AWD | $1,569 |
| Toyota Tacoma 2WD | $1,575 |
| Nissan Rogue S AWD | $1,569 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,594 |
| Ford Focus SE 4-Dr Sedan | $1,612 |
| Dodge Ram 2500 Crew Cab ST 2WD | $1,674 |
| Kia Optima EX | $1,680 |
| Get a Custom Quote Go | |
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Rate quotes do not factor in your specific Cincinnati, OH location which can modify prices noticeably.
By looking at the data, you can assume that makes and models like the Ford Escape, Honda CR-V, and Honda Accord are the more affordable vehicles to insure for your employer’s vehicle.
Cost of full coverage in Cincinnati
Finding the cheapest auto insurance is probably important to the majority of drivers, and one good way to find cheap insurance for a company car is to not buy full coverage. The diagram below illustrates the comparison of insurance rates with and without physical damage coverage. The costs are based on no violations or claims, $250 deductibles, single status, and no additional discounts are factored in.
Averaged out for all age groups, physical damage coverage costs $1,200 per year more than just buying liability only. A very common question is if you should buy full coverage at all. There isn’t a steadfast formula for eliminating full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
Best auto insurance company in Cincinnati
Finding a good quality auto insurance provider can be rather challenging considering how many companies provide coverage in Ohio. The company rank data in the next section could help you select which auto insurers to look at when trying to find the cheapest insurance for a company car.
The ratings below only include companies that write coverage in many states, so smaller companies are not included in these rankings. To compare price quotes and find cheaper insurance for a company car, click this link.
Top 10 Large Auto Insurers in Cincinnati Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
Top 10 Large Auto Insurers in Cincinnati Ranked by Customer Service
- Nationwide
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Travelers
- Liberty Mutual
- GEICO
- Erie Insurance
- Allstate
Bad driving habits will cost you more
The recommended way to earn affordable auto insurance rates in Ohio for your employer’s vehicle is to drive attentively and not get tickets or have accidents. The diagram below illustrates how speeding tickets and fender-benders can increase insurance costs for each different age category. The rate quotes are based on a single female driver, full physical damage coverage, $500 deductibles, and no other discounts are factored in.
In the previous example, the average cost of a car insurance policy in Cincinnati per year with no accidents or violations is $1,028. Get written up for one speeding ticket and the average cost rises to $1,165, an increase of $137 each year. Now throw in one accident along with the one speeding ticket and the 12-month cost of auto insurance for a company car increases to an average of $1,543. That’s an increase of $515, or $43 per month, just for being a less-than-perfect driver!
The agents listed below can most likely provide answers to your questions and help you determine which coverages and limits you need, since many people would rather have some advice when comparing insurance rates for your employer’s vehicle. It can be time-consuming to find the cheapest auto insurance company, so a licensed agent can provide peace of mind knowing your policy gives you adequate asset protection.
To locate a Cincinnati insurance agent by location nearest to you, click the button link following the list.
- Brodbeck Porter Ins Agency
1080 Nimitzview Dr #301 – Cincinnati, OH 45230 – (513) 624-0900 - Mark Redmond – State Farm Insurance Agent
7225 Colerain Ave Ste 202 – Cincinnati, OH 45239 – (513) 221-7836 - Deatria Walker – State Farm Insurance Agent
3252 N Bend Rd – Cincinnati, OH 45239 – (513) 661-0400 - Henry Insurance Agency LLC
2757 Observatory Ave #22 – Cincinnati, OH 45208 – (513) 871-7700 - Dillhoff Insurance
120 E 4th St # 1000 – Cincinnati, OH 45202 – (513) 621-2020
More Cincinnati, OH insurance agents
Tips for buying the cheapest auto insurance for a company car
The list below summarizes some money-saving ideas that can help you buy more affordable auto insurance.
- Be a cautious driver
- Pay for small claims rather than turning them in to your insurance company
- Avoid accidents
- Bundle home and auto and save
- Safer vehicles cost less to insure
- Comparison shop frequently
That last piece of advice is extraordinarily necessary, as was discussed in the prior information. Coverage rates in Cincinnati can change considerably in a year, so you should be ready to switch companies if a more affordable rate is found. Staying with the same car insurance company is fine, but it’s not recommended if that inflexibility results in costing you major coinage every year. Now is a great time to compare prices to find cheaper insurance for a company car.