This would be a much shorter article if we could simply tell you the one best car insurance company that has the rock bottom lowest rates in Ohio. That is not the case, however, as there are a ton of unknown elements such as your financial responsibility, whether you are female or male, and how safe your vehicle is, that all factor into the price you pay. We will attempt to cover the things that cause high insurance rates and also should give you a good start in finding the cheapest insurance.
Deciding which companies offer the cheapest car insurance rates for drivers requiring a SR22 will take a little more work in order to find the best policy.
Every car insurance company used slightly different criteria for determining rates in each state, so we’ll go over the car insurance companies with the most affordable rates in Cleveland.
Best Car Insurance Prices for SR22 Drivers
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$748|
|Find Cheaper Rates Go|
Utica National may have some of the most affordable car insurance rates in Cleveland at around $628 each year. Erie, Allied, Frankenmuth, and USAA also rank well as some of the best Cleveland, OH insurance companies.
In this example, if you are a customer of Frankenmuth and switched to Utica National, you might realize yearly savings of in the vicinity of $80. Drivers with USAA may save as much as $105 a year, and Travelers policyholders might realize rate reductions of up to $105 a year.
Remember that these policy rates are averaged for all insureds and vehicles and do not take into consideration a specific zip code for drivers requiring a SR22. So the auto insurance company that can offer you the best price may not even be in the list above. That’s why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
The car, truck, or SUV to be insured is one of the biggest factors when shopping for the lowest-priced insurance for drivers requiring a SR22. Vehicles with higher performance characteristics, poor safety features, or a track record of large liability claims will cost significantly more to insure than more modest models. The information below estimates auto insurance rates for a number of the most affordable automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$4,281|
|Honda Accord EX 4-Dr Sedan||$4,395|
|Honda CR-V LX 2WD||$4,428|
|Hyundai Elantra SE Touring Station Wagon||$4,679|
|Honda Odyssey LX||$4,793|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$4,798|
|Ford Explorer Eddie Bauer 2WD||$4,841|
|Ford Edge SE AWD||$5,021|
|Toyota RAV4 2WD||$5,069|
|Chevrolet Malibu Hybrid||$5,075|
|Toyota Camry LE||$5,201|
|Chevrolet Impala LTZ||$5,295|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$5,302|
|Dodge Grand Caravan Crew||$5,312|
|GMC Sierra 2500HD SLE Extended Cab 4WD||$5,343|
|Chevrolet Equinox LTZ 2WD||$5,349|
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Prices above based on married male driver age 40, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Rate quotes do not factor in zip code location which can influence coverage rates greatly.
Looking at the numbers, we can infer that vehicles like the Ford Escape, Honda Accord, and Honda CR-V will be some of the most budget-friendly vehicles to insure for high risk drivers. The price of auto insurance will tend to be more expensive anyway because there is a higher risk for drivers requiring a SR22, but generally speaking those particular models will tend to have the best rates compared to other vehicles.
Safe drivers pay less for car insurance
One of the best ways to find the most affordable car insurance rates for high risk drivers is to be a careful driver and have a clean driving record. The information below demonstrates how traffic citations and accidents can raise auto insurance rates for each age group. The premiums are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
The data above shows the average cost of auto insurance per year with no violations or accidents is $1,028. Get one speeding ticket and the average cost increases to $1,178, an increase of $150 each year. Now include two accidents along with the one speeding ticket and the yearly cost of car insurance for drivers requiring a SR22 goes up to an average of $2,480. That’s an increase of $1,452, or $121 per month, just for being a careless driver!
Discount Cleveland insurance
Insurers that provide coverage for drivers requiring a SR22 may have policy discounts that could reduce prices by 30% or more if you meet specific eligibility requirements. Large car insurance companies and some of their more popular discounts are:
- AAA offers discounts for multi-car, good student, AAA membership discount, education and occupation, good driver, multi-policy, and anti-theft.
- Progressive includes discounts for good student, online signing, multi-vehicle, online quote discount, multi-policy, continuous coverage, and homeowner.
- State Farm policyholders can earn discounts including accident-free, multiple policy, student away at school, anti-theft, Steer Clear safe driver discount, Drive Safe & Save, and passive restraint.
- Esurance may offer discounts for claim free, defensive driver, good student, Switch & Save, and good driver.
- Nationwide offers premium reductions for family plan, defensive driving, accident-free, easy pay, good student, business or organization, and anti-theft.
The diagram below shows the comparison of premium costs with and without discounts applied to the policy premium. The premium estimates are based on a female driver, one accident and two citations, Ohio state minimum liability limits, full coverage, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with anti-theft, vehicle safety, passive restraint, continuous coverage, multiple policy, and marriage discounts applied. When these discounts are applied to the policy premium, the average savings per year on car insurance for drivers requiring a SR22 is 28% or $524.
Compare rates to save
Cleveland car insurance rates are impacted by many factors that will increase or decrease the price you have to pay for coverage. Simply getting older, getting married, or having an at-fault accident may prompt premium changes that may make certain companies more affordable than competitors.
Not only may your risk profile change, but auto insurance companies change rates as often as every quarter in order to maintain liquidity for claims. A period of higher than normal claims may cause increased policy costs, while a profitable period can cause cheaper Cleveland car insurance rates.
For instance, the bar chart below shows a variety of companies that have the cheapest car insurance in Cleveland, OH for a 30-year-old female driver with no accidents, a clean driving record, and a high credit rating. If we compare prices based on her current rating profile, Utica National may have the cheapest car insurance rates in Cleveland at $828 annually. This is $212 less than the average premium paid by Ohio drivers of $1,040. Allied, Frankenmuth, Erie, and Travelers round out the rest of the most affordable Cleveland, OH auto insurance companies.
In this example, we will give the driver from the first set of rates a couple of claims, a lower credit rating, and a few blemishes on her driving record. Since every car insurance company has a unique approach to set their prices, comparing rates most likely will result in a completely different list of the cheapest Cleveland car insurance companies as shown below.
Merchants Insurance Group now has the best auto insurance rate in Cleveland, OH with Cincinnati Insurance, General Casualty, Motorists Mutual, and Grange Mutual now rounding out the top five. This example proves why consumers need to take the time to perform an extensive rate comparison when trying to find the cheapest car insurance quotes for drivers requiring a SR22.
Insurance prices are influenced by many things and can decrease or increase without notice, so the lowest-price company when you bought your policy may now cost much more than other companies.
How to find the cheapest insurance for drivers requiring a SR22
Here are some of the recommended thrifty solutions that can help drivers find more affordable car insurance.
- Raise physical damage deductibles
- Bundle home and auto and save
- Improve your credit score
- Having too many claims will increase rates substantially
- Save money by insuring older vehicles for liability only
- Buy a safer vehicle
- Shop around and save
That final tip is extraordinarily crucial, as we noted in this write-up. Prices charged by car insurance companies in Cleveland change a lot, so drivers shouldn’t hesitate to buy a policy from a new company if you find a better deal.
Brand loyalty is great, but it’s not a great idea if it’s costing you lots of money. Now is a great time to compare prices to find cheaper insurance for drivers requiring a SR22.
If you have coverage questions and would like to have some advice when shopping for cheaper insurance for high risk drivers, the professional agents shown below can most likely help you decide which auto insurance coverages would be the best in your situation. To find a Cleveland insurance agency closest to you, click the button link following the list.
- Nationwide Insurance: Sam J Saraniti
3100 W 25th St – Cleveland, OH 44109 – (216) 281-3900
- Robin Gorman – State Farm Insurance Agent
16812 Chagrin Blvd – Shaker Heights, OH 44120 – (216) 283-0080
- Lake Shore Insurance Agency
735 Beta Dr – Cleveland, OH 44143 – (440) 446-1600
- Garrett C Estes – State Farm Insurance Agent
4219 W 210th St – Fairview Park, OH 44126 – (440) 331-3111