It’s impossible to miss the captivating commercials from companies like State Farm, Progressive, and The General that make promises of the cheapest rates. So you just need to choose any of them, right?
It’s just not that simple, as there are a ton of unknown factors such as if you are married or single, the likelihood of vehicle theft where you live, the safety features built into your vehicle, and tickets or driving violations. This article delves into these topics and educate you enough to have some help in finding cheaper rates.
Determining which company offers the lowest-priced insurance rates for drivers with good credit requires a little more effort than just comparing rates from one or two companies. Every auto insurer has their own formula for establishing rates, so we’ll take a look at the insurance companies with the overall cheapest rates in Ohio.
It’s a good idea to know that Ohio insurance rates are based on many factors that may substantially change the price you pay. Improving your credit score, adding a teenager to your policy, or getting a driving violation can trigger price changes resulting in some rates now being more affordable than others.
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Rank | Company | Cost Per Year |
---|---|---|
1 | Utica National | $628 |
2 | Allied | $669 |
3 | Erie | $687 |
4 | Frankenmuth | $701 |
5 | USAA | $719 |
6 | Travelers | $726 |
7 | Merchants Insurance Group | $748 |
8 | Cincinnati Insurance | $749 |
9 | General Casualty | $805 |
10 | Motorists Mutual | $816 |
11 | Grange Mutual | $836 |
12 | Hastings Mutual | $866 |
13 | Central Mutual | $874 |
14 | State Farm | $894 |
15 | Atlantic States | $913 |
16 | Western Reserve | $941 |
17 | Westfield | $946 |
18 | Progressive | $953 |
19 | Auto-Owners | $958 |
20 | Farmers | $1,005 |
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Utica National has some of the most affordable car insurance rates in Ohio at around $628 each year. Allied, Erie, Frankenmuth, and USAA are also some of the best Ohio insurance companies.
In the above rates, if you are a customer of USAA and switched to Allied, you might achieve an annual premium reduction of around $50. Ohio drivers with Travelers might save as much as $57 a year, and Merchants Insurance Group insureds might see rate reductions of $79 a year.
It’s important to note that these premium estimates are averages across all drivers and vehicles and and are not figured with a rate decrease for drivers with good credit. So the auto insurance company that is best for you may not even be included in the list of companies above. That emphasizes why you need to get car insurance quotes using your own personal information and vehicle type.
The make and model of vehicle you are buying coverage for is probably the biggest factor that determines whether or not you can buy cheaper car insurance for drivers with good credit. Vehicles with high performance engines, poor passenger safety features, or an increased likelihood of liability claims will cost substantially more to insure than more modest models. The data below features car insurance premiums for a selection of the more afforable vehicles to buy insurance for.
Make and Model | Estimated Cost for Full Coverage |
---|---|
Honda Accord EX 4-Dr Sedan | $403 |
Honda CR-V EX-L 4WD | $414 |
Ford Edge SE 2WD | $439 |
Chevrolet Traverse LTZ 2WD | $454 |
Toyota Prius | $463 |
Toyota Highlander Sport 2WD | $489 |
Subaru Outback 3.6R | $498 |
Hyundai Elantra Blue 4-Dr Sedan | $496 |
Hyundai Tucson GLS 2WD | $505 |
Ford Escape Limited 2WD | $511 |
Kia Forte EX 4-Dr Sedan | $516 |
Chevrolet Equinox LTZ AWD | $517 |
Toyota Sienna Limited | $525 |
Honda Odyssey EX W/Rear Entertainment | $538 |
Jeep Grand Cherokee Laredo 4WD | $549 |
Kia Optima SX | $559 |
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $550 |
Subaru Forester X Premium AWD | $561 |
Honda Civic DX 4-Dr Sedan | $576 |
Toyota Corolla LE | $581 |
Toyota Camry SE | $591 |
Hyundai Santa Fe SE 4WD | $581 |
Toyota RAV4 Limited 2WD | $589 |
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Rates do not factor in your specific Ohio location which can lower or raise coverage prices significantly.
Based upon the table data, we can tell that makes and models like the Honda Accord, Honda CR-V, and Ford Edge will be a few of the most economical vehicles to insure for financially responsible drivers.
The recommended way to find the cheapest insurance premiums in Ohio for financially responsible drivers is to be a good driver and avoid accidents and traffic citations. The illustration below demonstrates how citations and accident claims can increase insurance premiums for each age group. The data is based on a married female driver, comp and collision included, $500 deductibles, and no discounts are applied.
The data charted above shows the average cost of auto insurance per year with no accidents and a clean driving record is $912. Receive one speeding ticket and the average cost increases to $1,059, an increase of $147 each year. Then throw in two accidents along with the one speeding ticket and the annual cost of insurance for drivers with good credit increases to an average of $2,351. That’s an increase of $1,439, or $120 per month, just for not driving carefully!
Insuring your vehicle with a high-quality auto insurance provider can be a challenge considering how many different companies there are to choose from in Ohio. The ranking information below may help you choose which car insurance providers you want to consider when comparing rate quotes. The rankings below are only comprised of the companies with a significant amount of written premium nationwide, so companies with more of a regional focus will not be included in the list.
Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
---|---|---|---|---|---|---|
USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
American Family | 88 | 92 | 83 | 88% | A | 89.4 |
Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
The General | 88 | 80 | 85 | 80% | A- | 84.5 |
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Data Source: Insure.com Best Car Insurance Companies
Here are some of the better money-saving suggestions that can help Ohio drivers find lower-cost auto insurance.
The last tip is particularly important, as we hit on in the prior information. Prices charged by companies change frequently, so don’t be hesitant to change insurance companies if a better rate can be found.
Brand loyalty is great, but it’s not a great idea if that inflexibility results in costing you money that could be going to better use. It only take a few minutes to compare prices to find cheaper auto insurance for drivers with good credit.