The words “bargain” and “insurance” really should not be used together, in particular when comparison shopping for the best insurance rates for 16 year olds. To help control this cost, let’s go over some things that have an effect on car insurance prices, and find a way to take the sting out of your next policy.
For new drivers, one of the more important things that help determine the price you pay for insurance is where your residence is. Cities with more crime and/or more people tend to pay more, whereas less populated areas have the luxury of lower rates.
The illustration below rates the most expensive areas in Ohio for 16 year olds to buy an auto insurance policy in. Cincinnati ranks #5 with the yearly price of $1,222 for the average insured, which is approximately $102 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Youngstown | $1,273 |
| 2 | Columbus | $1,235 |
| 3 | Toledo | $1,229 |
| 4 | Cleveland | $1,222 |
| 5 | Cincinnati | $1,222 |
| 6 | Cleveland Heights | $1,214 |
| 7 | Euclid | $1,129 |
| 8 | Akron | $1,123 |
| 9 | Dayton | $1,120 |
| 10 | Hamilton | $1,113 |
| 11 | Springfield | $1,105 |
| 12 | Canton | $1,102 |
| 13 | Newark | $1,095 |
| 14 | Lakewood | $1,073 |
| 15 | Middletown | $1,055 |
| 16 | Fairfield | $1,053 |
| 17 | Kettering | $1,051 |
| 18 | Beavercreek | $1,047 |
| 19 | Cuyahoga Falls | $1,027 |
| 20 | Mentor | $1,018 |
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Rate quotes are approximated as zip code location can raise or lower insurance rates noticeably.
The type of vehicle you are insuring is probably the largest consideration when comparing quotes for the most economical insurance for 16 year olds. Vehicles with high performance, poor safety features, or high incidents of liability claims will cost significantly more to insure than more modest models.
The list below ranks auto insurance prices for a number of the most economical vehicles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $5,160 |
| Honda Accord LX 4-Dr Sedan | $5,168 |
| Honda CR-V LX 4WD | $5,160 |
| Toyota Prius | $5,576 |
| Ford F-150 XLT Super Cab 2WD | $5,805 |
| Volkswagen Jetta 2.0T Station Wagon | $5,892 |
| Ford Focus S 4-Dr Sedan | $6,072 |
| Honda Odyssey EX W/Rear Entertainment | $6,077 |
| Ford Edge SEL 2WD | $6,072 |
| Chevrolet Impala LS | $6,081 |
| Toyota RAV4 Limited 2WD | $6,121 |
| Chevrolet Equinox LT AWD | $6,130 |
| Toyota Tacoma Double Cab 4WD | $6,121 |
| Chevrolet Malibu LT | $6,172 |
| Dodge Grand Caravan Crew | $6,178 |
| Ford Explorer Eddie Bauer 4WD | $6,172 |
| Nissan Altima 2.5 S 4-Dr Sedan | $6,437 |
| Toyota Corolla S | $6,447 |
| Hyundai Elantra GLS 4-Dr Sedan | $6,437 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $6,479 |
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Prices above based on single male 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. Information does not factor in specific location which can increase or decrease insurance rates significantly.
Looking at the rates, you can conclude that vehicles like the Ford Escape, Honda Accord, Honda CR-V, Toyota Prius, and Ford F-150 are likely to be a few of the most affordable vehicles to insure for new drivers. The cost of a car insurance policy will be more costly because there is more risk for 16 year olds, but generally speaking those makes and models will probably have the least expensive rates compared to other types of vehicles.
Deciphering which insurers offer the most affordable auto insurance rates for 16 year olds may require a little more sweat in order to find the best price. Every insurance company has their own formula for establishing rates, so we’ll take a look at the auto insurance companies with the most affordable rates in Cincinnati.
It’s important to understand that Cincinnati, OH auto insurance rates are calculated based on many things that control the price you have to pay for coverage. Turning one year older, marrying your spouse, or getting a speeding ticket can trigger changes in premium that can cause some rates to be cheaper than before.
Best Car Insurance Prices for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Erie | $687 |
| 3 | Allied | $690 |
| 4 | Frankenmuth | $708 |
| 5 | Travelers | $726 |
| 6 | USAA | $733 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $755 |
| 9 | Motorists Mutual | $792 |
| 10 | General Casualty | $813 |
| 11 | Grange Mutual | $828 |
| 12 | Central Mutual | $848 |
| 13 | State Farm | $867 |
| 14 | Hastings Mutual | $884 |
| 15 | Westfield | $936 |
| 16 | Atlantic States | $940 |
| 17 | Progressive | $953 |
| 18 | Auto-Owners | $958 |
| 19 | Western Reserve | $961 |
| 20 | Farmers | $995 |
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Utica National generally has some of the best car insurance rates in Cincinnati at around $647 a year. This is $393 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers would also be considered some of the cheapest Cincinnati, OH auto insurance companies.
In the above rates, if you are currently insured with Erie and switched to Utica National, you might realize annual savings of around $40. Drivers with Allied may save as much as $43 a year, and Frankenmuth customers might reduce prices by as much as $61 a year.
Understand that those prices are averaged across all types of drivers and the different vehicles they drive and are not factoring in a specific vehicle garaging location for 16 year olds. So the auto insurance company that can offer you the lowest price may not even be in the list above. That underscores the importance of why you need to get quotes using your own specific driver information and vehicle.
Types of discounts on Cincinnati car insurance rates
Insurance providers that sell policies for 16 year olds may additionally offer premium discounts that can reduce rates by as much as 30% if you meet certain criteria. Popular auto insurance companies and some of the premium reductions they offer are shown below.
- GEICO offers discounts for federal employee, five-year accident-free, anti-theft, military active duty, and emergency military deployment.
- Travelers may have discounts that include hybrid/electric vehicle, multi-policy, new car, early quote, multi-car, driver training, and payment discounts.
- Nationwide has discounts for easy pay, business or organization, multi-policy, Farm Bureau membership, and anti-theft.
- Farmers Insurance policyholders can earn discounts including switch companies, homeowner, teen driver, distant student, early shopping, and youthful driver.
- Esurance may include discounts for online shopper, paid-in-full, anti-theft, online quote, and DriveSense.
- State Farm offers discounts including multiple autos, multiple policy, good driver, driver’s education, good student, defensive driving training, and student away at school.
- Progressive has savings for online signing, multi-policy, homeowner, multi-vehicle, and online quote discount.
- Mercury Insurance may offer discounts for good student, type of vehicle, accident-free, professional/association, and age of vehicle.
The example below visualizes the comparison of annual premium costs with and without discounts applied to the policy premium. The rate quotes are based on a female driver, no tickets, no at-fault accidents, Ohio state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with paid-in-full, paperless filing, anti-theft, vehicle safety, good student, and passive restraint discounts applied. When discounts are factored in, the average savings per year on auto insurance for 16 year olds is 28% or $330.
Violations and accidents raise rates
The obvious way to snag affordable auto insurance rates in Cincinnati for new drivers is to drive carefully and avoid at-fault accidents and violations. The illustration below shows how violations and accident claims drive up insurance rates for different age groups of insureds. The prices are based on a single female driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.
In the prior example, the average cost of car insurance in Cincinnati per year with no accidents and a clean driving record is $1,242. Get written up for two speeding tickets and the average cost jumps to $1,669, an increase of $427 each year. Now add in one accident along with the two speeding tickets and the 12-month cost of auto insurance for 16 year olds jumps again to an average of $2,094. That’s an increase of $852, or $71 per month, just for being a less-than-perfect driver!
Ohio auto insurance companies
Finding the highest-rated insurance provider is difficult considering how many companies there are to choose from in Ohio. The ranking data in the next section may help you pick which auto insurance companies you want to consider when trying find the best insurance for 16 year olds. The rankings below are only comprised of major nationwide insurance companies, so companies that only write business in Ohio or surrounding areas are not taken into consideration for this list.
Top 10 Major Auto Insurers in Cincinnati Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- GEICO
- AAA Insurance
- Safeco Insurance
- Esurance
- The General
Why it’s important to shop around
Cincinnati, OH auto insurance rates are based on many factors that may substantially change the cost of having a policy. Simply having another birthday, moving across town, or having an accident can trigger rate changes that can make some companies cheaper in comparison to the competition. In addition, insurers change rates as needed to adjust for unexpected claims or profits. Heavier than normal losses can cause higher prices, while lower claim levels may result in lower-cost Cincinnati car insurance rates.
The data below shows the cheapest car insurance in Cincinnati, OH for a 40-year-old male driver with no violations or accidents, and a good credit history. If we estimate prices based on his current risk profile, Utica National quotes the lowest car insurance rates in Cincinnati at $772 annually. This is $268 less than the average premium paid by Ohio drivers of $1,040. Allied, Frankenmuth, Erie, and USAA are also included in the cheapest Cincinnati, OH auto insurance companies.
Now we will pretend the driver from the first example an accident surcharge, bad credit, and a speeding ticket. Due to the fact that every insurance company has a different formula to set premium rates, comparing insurance quotes may now show a significantly different list of the cheapest Cincinnati car insurance companies as shown below.
Merchants Insurance Group now has the cheapest insurance rate in Cincinnati, OH with Cincinnati Insurance, Motorists Mutual, Grange Mutual, and General Casualty now rounding out the top five. This demonstrates why Cincinnati drivers need to shop around when trying to find the best car insurance quotes for 16 year olds. Auto insurance prices can be determined by many different factors and can increase or decrease at any time, so the cheapest company when you last compared rates may now be one of the higher cost companies.