How Much are Cincinnati Car Insurance Rates for Business Use?

Deciphering which companies have the most affordable car insurance rates for business use will involve more work in order to find the best price.

Each insurer used slightly different criteria to set premium rates, so let’s take a look at the car insurance companies with the most affordable rates in Cincinnati, OH. It’s important to understand that Ohio car insurance rates are determined by lots of factors which can substantially change the price of your policy. Simply improving your credit, getting married, or having a fender bender may cause policy rate changes that can make some companies cheaper in comparison to the competition.

Best Car Insurance Prices for Business Use

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What’s the cheapest car insurance in Ohio?
Rank Company Cost Per Year
1 Utica National $628
2 Erie $687
3 Frankenmuth $687
4 Allied $697
5 Travelers $705
6 USAA $711
7 Merchants Insurance Group $748
8 Cincinnati Insurance $779
9 Motorists Mutual $800
10 General Casualty $805
11 Grange Mutual $836
12 Central Mutual $840
13 Hastings Mutual $884
14 State Farm $885
15 Atlantic States $931
16 Western Reserve $932
17 Westfield $946
18 Auto-Owners $958
19 Progressive $962
20 Nationwide $998
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Utica National may have some of the most affordable car insurance rates in Cincinnati at around $628 a year. Erie, Frankenmuth, Allied, and Travelers would also be considered some of the lowest-priced Cincinnati, OH insurance companies.

As the example above demonstrates, if you currently have coverage with Allied and switched to Erie, you could see savings of approximately $10. Drivers with Travelers could save as much as $18 a year, and USAA policyholders might cut rates by $24 a year.

To see if your current coverage is too expensive, click here to get a free quote or click several companies below for low rates.

These estimates are averages for all types of drivers and the different vehicles they drive and do not factor in an exact zip code location for business use. So the auto insurance company that has the cheapest rates for you may not even be in the top 33 companies shown above. That underscores the importance of why you need to get rate quotes using your own personalized driver profile and vehicle information.

For using your car for business, one of the largest factors that are looked at to determine the amount you pay for auto insurance is where your residence is in Cincinnati. Areas with high crime rates or more dense population tend to have more expensive auto insurance rates, whereas areas with less congestion get the luxury of paying less.

The next table ranks the most expensive areas in Ohio for business use to buy an auto insurance policy in. Cincinnati shows up at #5 with a yearly cost of $1,210 for car insurance, which is approximately $101 monthly.

How much is car insurance in Cincinnati?
Rank City Annual Rate
1 Youngstown $1,285
2 Toledo $1,229
3 Cleveland $1,222
4 Columbus $1,211
5 Cincinnati $1,210
6 Cleveland Heights $1,166
7 Akron $1,157
8 Hamilton $1,146
9 Euclid $1,129
10 Dayton $1,120
11 Canton $1,102
12 Fairfield $1,085
13 Middletown $1,066
14 Newark $1,063
15 Springfield $1,061
16 Lakewood $1,031
17 Beavercreek $1,027
18 Lorain $1,015
19 Strongsville $1,011
20 Kettering $1,009
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Rates are estimated as the specific zip code location can alter auto insurance rates greatly.

The vehicle that needs insurance is a large consideration that determines if you can find cheap coverage for business use. Vehicles with lots of horsepower, poor safety features, or high incidents of liability claims will cost much more to insure than safer models. The next list outlines auto insurance costs for a selection of the most cost-effective automobiles to buy insurance for.

Cheapest Vehicles to Insure in Cincinnati, OH
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda CR-V EX 2WD $1,099
Honda Accord EX 4-Dr Sedan $1,266
Volkswagen Jetta S 4-Dr Sedan $1,304
Dodge Grand Caravan Hero $1,311
Ford F-150 FX2 2WD $1,328
Ford Explorer Limited 4WD $1,337
Ford Escape XLT 2WD $1,354
Ford Edge Sport 2WD $1,371
Nissan Altima Hybrid 4-Dr Sedan $1,395
Toyota Prius $1,397
Honda Civic EX-L 4-Dr Sedan $1,440
GMC Sierra 2500HD SLT Crew Cab 4WD $1,464
Honda Odyssey EX $1,468
Ford Fusion S 4-Dr Sedan $1,495
Dodge Ram 3500 Mega Cab Laramie 2WD $1,514
Chevrolet Silverado 3500HD LTZ Crew Cab Diesel 2WD $1,521
Chevrolet Impala LTZ $1,573
Toyota Tacoma X-Runner 2WD $1,580
Toyota Camry SE $1,573
Toyota Corolla LE $1,582
Hyundai Elantra GLS 4-Dr Sedan $1,573
Chevrolet Silverado 2500HD LT Crew Cab Diesel 2WD $1,585
Chevrolet Equinox LTZ AWD $1,602
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Rate quotes do not factor in specific zip code location which can revise insurance rates significantly.

By looking at the data, makes and models like the Honda CR-V, Honda Accord, Volkswagen Jetta, and Dodge Grand Caravan should be a few of the less-costly vehicles to insure for using your car for business. The price for an auto insurance policy will be more expensive just because there is more inherent risk for business use, but overall those makes and models will tend to have the cheapest rates compared to all other vehicles.

The diagram below shows how choosing a deductible can influence annual premium costs when quoting cheap insurance for business use. The premium estimates are based on a married female driver, comp and collision included, and no discounts are applied to the premium.

As shown above, a 50-year-old driver could reduce rates by $210 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $316 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old example, could lower their rates as much as $516 or even more just by using higher deductibles.

When insureds make the decision to increase the deductibles on their policy, it is necessary to have enough savings to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Finding a highly-rated insurance company is hard considering how many choices drivers have in Ohio. The company rank data in the next section could help you choose which coverage providers to look at when comparing rate quotes.

The rankings below are for the largest companies in America, so companies that have a smaller presence are not factored into these rankings. To check prices and find cheaper insurance for business use, click here.

Top 10 Major Auto 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 Auto 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

You may be paying too much for car insurance

Cincinnati, OH car insurance rates are calculated based on many things which can significantly increase or decrease the policy premium. Simply having a birthday, increasing deductibles, or getting a ticket for running a stop sign can trigger rate changes that can cause some rates to be more affordable than the competition. Not only may things change on your end, but companies change their prices without warning to adjust for gains or losses. Significantly higher losses may result in price increases, while profitable underwriting can cause cheaper Cincinnati car insurance rates.

To illustrate this example, the graph below demonstrates which company has the cheapest car insurance in Cincinnati, OH for a 40-year-old female driver with no accidents or violations, and great credit. If we estimate prices based on her current rating profile, Utica National may have the cheapest car insurance rates in Cincinnati at $772 a year. This is $268 less than the average rate paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers are the remaining cheapest Cincinnati, OH auto insurance companies.

Now let’s give the driver in the first chart a couple of claims, bad credit, and a speeding ticket. Since each company has a unique formula for determining rates in each state, comparing quotes may now present a different set of cheap Cincinnati auto insurance companies as shown below.

Cincinnati Insurance now has the cheapest insurance rate in Cincinnati with Merchants Insurance Group, Motorists Mutual, General Casualty, and Grange Mutual now being in the top five. This example shows why it is so important to compare lots of rates when trying to get the most budget-friendly auto insurance quotes for business use.

Rates are impacted by many different factors and can change substantially, so the most economical option the last time you shopped your coverage around may now be an over-priced policy.