Car insurance is a must-have for all drivers, but it gets expensive quickly. While Ohio auto insurance rates typically fall below the national average, it depends on which insurer you go with. Here’s a closer look at some of the best car insurance companies in Ohio for various driver profiles.
- Cheapest for typical drivers: Geico
- Cheapest for drivers with prior accidents: Grange Insurance
- Cheapest for drivers with prior speeding tickets: Geico
- Cheapest for young drivers: Geico
- Cheapest for senior drivers: Geico
- Cheapest for drivers looking for minimum coverage: Geico
- Cheapest for drivers with poor credit: Geico
Cheapest for typical drivers
GEICO offers the cheapest car insurance in Ohio for typical drivers. This is based on the profiles of a 35-year-old male and 35-year-old female driver, both with clean driving records. Surprisingly, Geico charges female drivers slightly more than males, which is not typical, but the difference is slight. Females average about $737 per year with Geico while men pay about $702 per year.
Both of these figures are well below the average car insurance quotes in Ohio. Female drivers typically pay about $1,291 per year while males usually pay about $1,312 per year.
Other companies that offer low-cost car insurance in Ohio include:
- Allied Insurance, which charges about $891 annually for female drivers and $910 for male drivers
- State Farm, which charges both male and female drivers about $1,112 on average
Cheapest for drivers with prior accidents
Drivers with prior accidents pay about $1,862 per year for Ohio auto insurance, but Grange Insurance insures these drivers for about $1,133 per year on average.
The following two companies also offered cheap Ohio auto insurance for drivers with an accident history:
- Geico, among the cheapest car insurance in the state for all drivers, charges drivers with a single accident on their record $1,271 per year on average.
- State Farm has an average annual premium of $1,316 for drivers with one accident on their record.
Cheapest for drivers with prior speeding tickets
Drivers with a single speeding ticket can pay about $500 less than the state average by going with Geico. It only charges these drivers about $932 per year compared to the state average of $1,626 per year.
Other Ohio auto insurance companies worth a look for drivers with speeding tickets include:
- State Farm, which offers drivers with speeding tickets an average rate of $1,214 per year
- Erie Insurance, where drivers with a single speeding ticket pay about $1,425 per year on average
Cheapest for young drivers
Young drivers have some of the least affordable car insurance in Ohio, paying about $3,573 annually on average. But Geico’s teen and young drivers only pay about $2,198 on average. This is based on the profile of an 18-year-old male driver with a clean driving record.
Teens should also consider the following Ohio auto insurance providers:
- American Family, which charges teen drivers about $2,740 per year annually
- State Farm, which offers an average annual premium of $2,897 to teen drivers
Cheapest for senior drivers
Senior drivers only pay about $1,160 on average for Ohio auto insurance, but it’s possible to get that rate much lower. Geico drivers, for example, can get cheap auto insurance in Ohio for about $681 per year, on average.
Drivers 65 and up should also look into these insurers:
- Grange Insurance, which has an average annual premium of $834 for senior drivers
- State Farm, which charges seniors $1,004 per year on average
Cheapest for drivers looking for minimum coverage
Cheap liability car insurance in Ohio costs about $417 per year on average. But with Geico, it’s possible to get the same coverage for about $273 per year.
The following companies also offer some of the cheapest car insurance in Ohio:
- State Farm, which charges about $355 per year for Ohio minimum car insurance
- Auto-Owners Insurance, which charges about $366 for minimum car insurance in Ohio
Cheapest for drivers with poor credit
Poor credit boosts an Ohio driver’s average premium costs to about $2,104 per year. Drivers who choose Geico only pay about $1,243 per year on average, though.
Those with fair or poor credit can also score great deals on Ohio auto insurance with the following insurers:
- Grange Insurance, which has an average annual premium of $1,329 for drivers with poor credit
- Allied Insurance, which charges about $1,508 per year for drivers with poor credit
Average car insurance cost in Ohio compared to the national average
Ohio drivers are fortunate that their average annual car insurance premium of $1,567 is well below the national average of $2,646. However, as the rates above show, it’s possible to score an even lower rate by choosing the best car insurance in Ohio for a driver’s situation.
Ohio auto insurance laws
Here are some Ohio car insurance laws all drivers should be aware of.
Ohio is an at-fault state
Ohio is an at-fault auto insurance state, which means that in an accident, the driver who is found to be at fault is responsible for paying the medical bills for themselves and the other driver. This is why it’s crucial to purchase sufficient liability coverage, as accidents can quickly become expensive.
Consequences for driving without insurance in Ohio
Drivers who are unable to present proof of Ohio auto insurance could face the following penalties:
- Losing their driver’s license, possibly for up to two years for repeat offenders
- Losing their license plates or vehicle registration
- Fines of up to $600
- Requirement to maintain high-risk auto insurance, which is more expensive than regular auto insurance
Ohio minimum coverage requirements
All drivers must have at least the following Ohio minimum auto insurance.
Bodily injury liability
Drivers must have at least the following bodily injury liability coverage:
- $25,000 per person
- $50,000 per accident
Property damage liability
In addition, drivers must have at least $25,000 of property damage liability coverage to pay for damage to vehicles and other personal property they damage in a crash.
How to get cheap auto insurance in Ohio
Here are a few tips on how to score the cheapest car insurance in Ohio:
- Compare rates from multiple providers. The answer to the question “How much is car insurance in Ohio?” varies dramatically depending on each driver’s record, vehicle, and location, among other factors. Comparing car insurance quotes from multiple providers is the only way to see which can offer the most affordable rate.
- Raise your deductible. Deductibles are the out-of-pocket cost you pay before the insurer will pay out the rest of your claim. A higher deductible usually translates to a lower premium. As long as you save for that deductible in an emergency fund, a claim shouldn’t affect your financial security at all.
- Claim every discount you can. Each insurer offers its own selection of discounts on car insurance, which can bring qualifying drivers’ car insurance rates down quite a bit. Check with the insurer if you’re unsure which discounts are available to you.
Other things to consider when looking for car insurance in Ohio
Here are some other things to bear in mind when searching for Ohio auto insurance.
Ohio sees a lot of car thefts each year
There were 18,672 car thefts reported in the state of Ohio in 2019, according to the Insurance Information Institute. That’s the 10th-highest rate of auto theft in the country. Theft actually isn’t covered under state minimum insurance; you need comprehensive coverage. It’s definitely something to consider adding to your policy, especially if you live in an area known for frequent thefts.
13% of Ohio drivers are uninsured
Though illegal, about 13% of Ohio drivers don’t have insurance, according to the Insurance Information Institute. While this percentage isn’t that high compared to some other states, it’s still not unreasonable to think you could wind up in an accident with an uninsured driver. That’s why it’s wise to have uninsured and underinsured motorist coverage. This protects drivers if they’re hit by a driver who doesn’t have insurance or doesn’t have enough car insurance coverage to pay the full cost of the accident.
View more information: https://www.fool.com/the-ascent/insurance/auto/best-cheap-car-insurance-ohio-oh/