Trying to find affordable insurance is difficult, and determining which companies quote the best auto insurance rates for used cars will require a little more work. Every insurance company uses different criteria to set policy rates, so we’ll take a look at the auto insurance companies with the overall best prices in Ohio.
Best Cheap Insurance Rates for Used Cars
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$748|
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Utica National offers some of the most affordable car insurance rates in Cincinnati at around $654 a year. This is $386 less than the average price paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers are also some of the most economical Cincinnati, OH insurance companies.
In this example, if you are currently insured with Travelers and switched to Erie, you could realize a yearly savings of about $72. Customers with USAA may save as much as $80 a year, and Merchants Insurance Group policyholders might lower prices by $87 a year.
It’s important to note that these prices are averaged across all types of drivers and the different vehicles they drive and do not factor in an exact location for used cars. So the car insurance company that fits your needs best may not even be in the list above. That affirms the importance of why you need to compare as many prices as possible using your own driver data and vehicle information.
The car, truck, or SUV to be insured is a large factor that determines whether or not you find affordable insurance for used cars. Vehicles with high performance engines, a lack of modern safety features, or high incidents of liability claims will cost more to insure than safer, lower-performance models.
The information below illustrates car insurance rates for a handful of the cheapest vehicles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,236|
|Honda Accord LX 4-Dr Sedan||$1,357|
|Ford Escape XLT 2WD||$1,364|
|Honda CR-V EX-L 4WD||$1,389|
|Ford Focus S 4-Dr Sedan||$1,439|
|Honda Civic LX 4-Dr Sedan||$1,517|
|Toyota Corolla S||$1,545|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$1,572|
|Toyota Tacoma 4WD||$1,575|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,583|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$1,600|
|Chevrolet Equinox LT 2WD||$1,605|
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Prices above 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 safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Rates do not factor in the specific area where the vehicle is garaged which can alter premiums considerably.
Based upon the rates shown, you can see that vehicles like the Hyundai Elantra, Honda Accord, Ford Escape, and Honda CR-V are most likely going to be some of the cheaper vehicles to insure for pre-owned vehicles.
Violations and accidents raise rates
The recommended way to find the best auto insurance premiums for pre-owned vehicles is to be an attentive driver and not get tickets or have accidents. The illustration below demonstrates how traffic citations and at-fault accidents can impact insurance premiums for different insured age categories. The price estimates are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
In the chart above, the average cost of an auto insurance policy per year with no accidents or violations is $819. Factor in one speeding ticket and the average cost swells to $941, an increase of $122 each year. Next add one accident along with the one speeding ticket and the yearly cost of auto insurance for used cars goes up to an average of $1,279. That’s an increase of $460, or $38 per month, just for not maintaining a clean driving record!
Ratings for Cincinnati auto insurance companies
Picking a good quality insurance company can be rather challenging considering how many different insurance companies sell coverage in Ohio. The information displayed below could help you pick which coverage providers you want to consider purchasing coverage from.
These rankings are for major nationwide insurance companies, so companies without a large exposure are not included in the list. To check rates from these top insurers and more, just 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
A good deal can quickly turn bad
Cincinnati auto insurance rates are impacted by many things which can substantially decrease or increase the cost of coverage. Simply getting older, becoming a homeowner, or getting a couple of tickets can trigger rate changes that can make some companies more affordable than before.
Additionally, companies file new Ohio auto insurance rates as often as every three months in order to protect their financial rating. Unexpectedly high claims may result in rate hikes, while profitable underwriting may produce more affordable Cincinnati car insurance rates.
For instance, the chart below shows rates for the cheapest car insurance in Cincinnati, OH for a 45-year-old male driver with no accidents or violations, and a good credit rating. When quoting prices based on his personal profile, Utica National might quote the cheapest car insurance rates in Cincinnati at $820 annually. This is $220 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also make the list of the top five cheapest Cincinnati, OH auto insurance companies.
In this example, we will give the driver in the first example some claims, slightly worse credit, and a speeding citation. Since every insurance provider has a proprietary formula for filing rates in each state, comparing rates could result in a significantly different list of cheap Cincinnati auto insurance companies as shown below.
Cincinnati Insurance now has the best price in Cincinnati with Merchants Insurance Group, Motorists Mutual, General Casualty, and Grange Mutual now being in the top five. This shows why consumers need to do a thorough rate comparison when trying to get the cheapest insurance quotes for used cars. Auto insurance prices are calculated by many things and can change substantially, so the best company a year ago may now be quite expensive.
How to find the cheapest insurance for used cars
Lowering your rates is not difficult, and here are a few thrifty suggestions that can help drivers buy cheaper coverage.
- Just one traffic violation will increase your rates
- Pay lower rates with good credit
- Avoid filing excessive claims
- Increase your physical damage deductibles
- Maintain a safe distance and avoid accidents
- Buying your home and auto policies from the same company can earn a discount
- Keep rates low by shopping around frequently
The final tip is remarkably vital, as was emphasized in the article above. Coverage rates change a lot, so don’t be afraid to buy from a different company if you can find a cheaper rate. Many consumers stick with the same company and that’s fine, but it isn’t a good idea if it’s costing you a wad of cash every year. Take a couple minutes and shop around and find cheaper auto insurance for used cars in Cincinnati.
If you aren’t sure which coverage to buy and prefer to get some help when shopping for cheaper insurance for pre-owned vehicles, the agencies below are willing to help you decide which is the best policy. To find an agent nearest to you, click the button at the bottom.
- Kent Insurance Inc
7520 Montgomery Rd # 2 – Cincinnati, OH 45236 – (513) 791-6060
- Gibbs and Associates Insurance
7710 Shawnee Run Rd # G2 – Cincinnati, OH 45243 – (513) 561-5551
- Allstate Insurance: Marianne Geiger
4204 Plainville Rd – Cincinnati, OH 45227 – (513) 808-4811
- Letitia Fulkerson – State Farm Insurance Agent
882 Ohio Pike – Cincinnati, OH 45245 – (513) 752-2144
- Dillhoff Insurance
120 E 4th St # 1000 – Cincinnati, OH 45202 – (513) 621-2020