Who Has the Cheapest Car Insurance for Teenagers in Ohio?

The words “affordable” and “insurance” probably shouldn’t be used in the same sentence, specifically when searching for the best car insurance for teenagers. To help control this cost, let’s take a look at some things that determine auto insurance rates, and see if you can take a little off your next policy.

The make and model of vehicle you are seeking coverage for is one of the largest considerations when comparing quotes for affordable auto insurance for teenagers. Vehicles with economical engines, good crash test ratings, or a low likelihood of having liability claims will cost quite a bit less to insure than adrenaline junky models. The information below outlines car insurance costs for a number of the most economical vehicles to insure in Ohio.

Data rating is based on single male driver age 17, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium costs do not factor in specific Ohio garaging location which can lower or raise prices greatly.

Price data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in specific location information which can revise insurance rates significantly.

Prices based on single male driver age 17, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in your specific Ohio location which can increase or decrease coverage rates greatly.

Trying to buy reasonably-priced auto insurance is tough enough, and figuring out which companies quote the cheapest auto insurance rates for teenagers will require more quotes for comparison. Rates will most likely be much higher than the state average attributed to the added risk associated with offering coverage for teen drivers, but reasonably-priced insurance should be available with a little diligence.

Every insurance company uses slightly different criteria for setting rates, so let’s begin by examining the most affordable auto insurance companies in Ohio. We do need to point out that Ohio auto insurance rates are impacted by many things which can substantially decrease or increase the price you have to pay. This price fluctuation is why it is critical to do a thorough rate comparison to find the most affordable insurance rates for teenagers. Insurance prices are determined by many factors and change dramatically, so the most economical company when you bought your policy may now be one of the more expensive options.

Best Car Insurance Prices for Teens

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Utica National has some of the lowest car insurance rates in Ohio at around $635 annually. Erie, Frankenmuth, Allied, and Travelers also rank well as some of the best Ohio car insurance companies.

As shown above, if you are insured with Allied and switched to Erie, you might realize a yearly savings of in the neighborhood of $9. Drivers with Travelers may save as much as $52 a year, and USAA insureds might realize rate reductions of up to $60 a year.

To see if you’re overpaying, click here to begin a quote or click through to the companies below.

Be aware that those policy prices are averages across all ages of drivers and types of vehicles and do not take into consideration a price increase for teenagers. So the auto insurance company that has the cheapest price for you may not even be included in the above list. That illustrates why you need to compare prices as often as possible using your own driver data and vehicle information.

Cost difference between full coverage and liability

Finding the cheapest car insurance for teenagers in Ohio is the goal of most drivers, and a good way to buy cheap insurance is to not insure for full coverage. The chart below illustrates the comparison of car insurance rates with full physical damage coverage compared to only buying liability only. The data is based on no violations or claims, $250 deductibles, single marital status, and no additional discounts are factored in.

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Averaged for all ages 20 through 70, full coverage costs $1,629 per year over liability only. That is a large expense and it proposes the question if buying full coverage is a waste of money. There is no definitive guideline to drop comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s say your vehicle’s book value is $4,500 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $3,500 after the deductible is paid. If you are currently paying more than $350 a year for comprehensive and collision coverage, then you may want to consider only buying liability coverage.

How to find budget-friendly auto insurance for teenagers

The list below details some of the better money-saving ideas that can help Ohio drivers find the cheapest coverage.

• On older vehicles, drop full coverage
• Buying home and auto together can help save money
• Avoid having at-fault accidents
• Improve your credit
• Buy safe vehicles
• Compare rates regularly and switch companies to save money

That last tip is very valuable, as was discussed in this article. Car insurance prices adjust frequently, so don’t be hesitant to switch companies if a better deal can be had. Staying with the same car insurance company is fine, but it’s not recommended if that loyalty ends up costing money that could be spent on other things. Now is a great time to shop around to find cheaper auto insurance for teenagers.