How to Find the Most Affordable Car Insurance in Ohio

Fran
Lucy Lazarony
July 23, 2020

In Ohio, the average auto insurance premium is $1,037 per year, which is 27 percent less than the national average. Ohioans are used to getting good deals on car insurance but a good deal could be even better with a lower auto insurance rate. We’ll discuss tips and strategies for saving money on car insurance a little later on but first we’ll take a closer look at car insurance in Ohio.

State Minimum Liability Requirements

Liability coverage helps pay for the other person’s expenses if you are at fault in an accident. Each state has minimum liability requirements for the drivers in their state.

In Ohio, the minimum liability requirements are $25,000 bodily injury liability coverage per person, $50,000 bodily injury liability coverage per accident and $25,000 property damage liability coverage per accident.

This minimum liability coverage costs an average of $472 per year.

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A More Comprehensive Policy Costs More

In Ohio, a more comprehensive policy with collision insurance and comprehensive insurance and $1,000 deductibles would cost somewhere around $889.

Collision insurance is coverage that helps to repair or replace your car if it is damaged in an accident with another vehicle or object such as a tree or a fence. Comprehensive insurance covers events that aren’t covered by collision coverage. These events include theft, vandalism, fire and damages from weather such as a windstorm, a hailstorm, a tornado and a hurricane.

If you have a loan on your car, your lender will require you to carry collision insurance and comprehensive insurance.

A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Both collision insurance and comprehensive insurance require deductibles.

Choosing a high deductible is one way to save money on your auto insurance premium.

Ohio Is an At-fault State

When it comes to car insurance, Ohio is an at-fault state. This means Ohio drivers are responsible for any damage they cause to another vehicle. An insurance adjuster determines which party is at fault in an accident. People in at-fault states also need to buy personal injury protection (PIP).

Cheapest and Most Expensive Cities

In Ohio, the city with the cheapest car insurance is Mansfield. The city with the most expensive car insurance is Youngstown.

How to Save Money on Car Insurance

Ready for those money-saving tips on car insurance? Here they come.

Be a married motorist. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married motorists pay less on auto insurance than singles. In Ohio, married motorists save around $44 per year on car insurance.

Get excellent credit. Insurance companies use consumer credit data for assigning risk pools and to set insurance rates. Drivers with excellent credit records get the best auto insurance rates. And drivers with poor or no credit pay the highest insurance rates. In Ohio, a driver with excellent credit can save somewhere in the ballpark of $1,025 on auto insurance rates compared to a driver with bad credit. Does your credit need a boost? Get serious about paying your credit bills on-time and paying down debt and avoid taking on new debt. And if you are behind on a credit bill or two, get current as soon as possible. All these things will help your credit score.

Follow the rules. Be a safe driver who follows the rules of the road and you will save money on your car insurance. Ohio drivers without a recent at-fault accident save 34 percent on their car insurance premiums. But if you break some rules, things get expensive. In Ohio, car insurance premiums will increase 40 percent after a DUI, 34 percent after an at-fault accident and 16 percent after a speeding ticket. What does that mean in dollars and cents? In Ohio, a first, minor, at-fault accident will raise car insurance premiums by an average of $520 per year. A DUI raises car insurance premiums by approximately $674 per year.

Try bundling. Bundle your auto insurance policy with another insurance policy such as a homeowners policy and save money.

Pay less often. Rather than paying monthly auto insurance bills, pay the entire annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

Snap up a multi-car discount. Have more than one car to insure? Insure them with the same auto insurance company and save money. Ask for a multi-car discount today.

Find Affordable Coverage in Ohio.

Older cars need less insurance. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision and comprehensive coverages any longer.

Research memberships. Members of some professional organizations and affiliate groups get discounts for car insurance. So check your professional memberships and see if you are eligible for a discount.

Check car features. Having certain anti-theft or safety features on your car will lower your car insurance. So check the anti-theft and safety features on your car with your insurance company and see if they warrant a discount.

Check age. Drivers who are younger than 25 and older than 65 have more serious accidents and pay more for car insurance. Drivers of the ages in-between pay less.

Be a female driver. Women make fewer accident claims than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Keep your coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your coverage and save money.

Choose a high deductible. As mentioned earlier, choosing a high deductible is one way to lower your auto insurance premium. Just be sure to put the deductible amount in a small emergency fund. That way the money will be there should you need to file an accident claim.

Keep mileage low. Low-mileage drivers pay less for auto insurance. So drive a little less and save money on your auto insurance.

Choose your neighborhood carefully. If you live in a neighborhood with high accident claims and auto theft, you will pay more for your car insurance. If you live in a neighborhood with low accident claims and low crime, you will pay less for your auto insurance. So choose a safe neighborhood and save money on your car insurance.

Buy a house. Statistics show that people who own homes drive more safely. So let your insurance company know that you own a home and enjoy the savings on your auto insurance premium.

Shop around. One of the best ways to save money on car insurance is to shop around. You will want to check out insurance quotes from several different car insurance companies. SmartFinancial makes this easy for you to do. Just type in the type of insurance that you are looking for and a zip code to get started. Next, answer a few, quick questions and you will be comparing auto insurance rates in Ohio before you know it.

SmartFinancial has contacts with more than 200 insurance companies so you are bound to find the insurance coverage and insurance price that you want.

So shop smart for car insurance and drive safely along the roadways of the Buckeye State.

Get a Free Auto Insurance Quote Online Now.

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