What Auto Insurance is Cheapest for Used Cars in Cleveland?

The words “affordable” and “auto insurance” really don’t belong together, in particular when you are shopping around for the cheapest auto insurance for used cars. Because it’s not cheap, let’s go over some situations that influence auto insurance premiums, and come up with some ideas to slash the price of your next policy.

The make and model of vehicle needing coverage is one of the largest considerations when looking for affordable insurance for used cars. Vehicles with higher performance characteristics, poor passenger safety features, or a track record of large liability claims will cost quite a bit more to insure than safer models. The information below features insurance prices for the most affordable automobiles to buy insurance for.

Cheapest Vehicles to Insure in Cleveland, OH
Vehicle Estimated Cost for Full Coverage
Honda CR-V EX 2WD $1,218
Hyundai Elantra GLS Touring Station Wagon $1,396
Toyota Tacoma 2WD $1,416
Jeep Grand Cherokee Laredo 2WD $1,444
Chevrolet Malibu Hybrid $1,449
Ford F-150 FX2 2WD $1,471
Ford Explorer Limited 2WD $1,478
Ford Escape XLT 2WD $1,494
Ford Edge Limited AWD $1,519
Toyota Prius $1,544
GMC Sierra 2500HD SLE Crew Cab 4WD $1,547
Jeep Wrangler Sahara 4WD 2-Dr $1,567
Honda Accord EX 2-Dr Coupe $1,622
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Cost estimates assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Premium costs do not factor in zip code location which can raise or lower prices greatly.

Looking at the numbers, we can assume that vehicles like the Honda CR-V, Hyundai Elantra, Toyota Tacoma, Jeep Grand Cherokee, and Chevrolet Malibu will definitely be some of the most affordable vehicles to insure for pre-owned vehicles.

Trying to buy affordable auto insurance is confusing at best, and determining which company has the cheapest car insurance rates for used cars calls for even more work. Every auto insurer has their own process for setting rates, so first let’s look at the rankings for the most affordable car insurance companies in Ohio.

We do need to point out that Cleveland, OH car insurance rates are determined by lots of factors that can increase the price you have to pay for coverage. Price variation is why Cleveland drivers need to compare rates to find affordable car insurance quotes for used cars. Insurance prices are made up of many factors and change substantially, so the best option two years ago may now be one of the more expensive options.

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Utica National quotes some of the cheapest car insurance rates in Cleveland at around $647 per year. Erie, Frankenmuth, Allied, and USAA also are some of the most economical Cleveland, OH auto insurance companies.

In the above example, if you are a customer of Frankenmuth and switched to Utica National, you might see a yearly price reduction of about $40. Drivers with Allied could save as much as $43 a year, and USAA insureds might realize rate reductions of up to $86 a year.

To get a fast rate comparison, click here to begin a quote or click several companies below for low rates.

Understand that those policy prices are averages for all drivers and vehicles and do not take into consideration a specific location for used cars. So the company that fits your situation best may not even be in the top 33 companies shown above. That helps illustrate why you need to compare rates from multiple companies using your own specific driver and vehicle information.

Selecting a high-quality insurance company can be challenging considering how many companies provide coverage in Cleveland. The company rank data below can help you pick which companies to look at purchasing from.

The ratings below are for companies that insure vehicles across America, so companies that may only write in Ohio are not factored into the list. To check rates and find the cheapest rates for used cars, click here.

Top 10 Major Auto Insurance Companies in Cleveland Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Erie Insurance
  5. State Farm
  6. Liberty Mutual
  7. Safeco Insurance
  8. Allstate
  9. 21st Century
  10. Travelers

Top 10 Major Auto Insurance Companies in Cleveland Ranked by Claims Service

  1. Progressive
  2. Travelers
  3. Liberty Mutual
  4. Nationwide
  5. USAA
  6. GEICO
  7. AAA Insurance
  8. Safeco Insurance
  9. Esurance
  10. The General

Cost difference between full coverage and liability

Finding the cheapest car insurance should be important to the majority of people, and an effective way to buy cheap insurance for used cars is to only buy liability insurance. The diagram below visualizes the comparison of insurance costs with and without full coverage. Data assumes no claims, a clean driving record, $1,000 deductibles, drivers are single, and no policy discounts are applied.

Averaged for all ages 20 through 70, physical damage coverage on your policy costs an extra $1,297 per year over liability only. A very common question is if buying full coverage is worth the money. There is no set rule of when to stop paying for comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s pretend your vehicle’s replacement value is $6,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $5,500 after paying the physical damage deductible. If premiums are more than $550 a year for full coverage, then you might want to consider buying only liability coverage.

Why are you paying too much for car insurance?

Ohio car insurance rates are determined by lots of factors which can significantly increase or decrease the price you have to pay for coverage. Simply getting older, buying a home, or getting caught speeding can trigger rate changes that can make some companies more affordable than others.

Also, insurers modify rates as needed to help ensure profitability. Larger than normal claims may cause more expensive prices, while less frequent claims can produce lower-cost Cleveland car insurance rates.

For instance, the data below shows the companies that have the cheapest car insurance in Cleveland, OH for a 40-year-old male driver with a clean driving record, no accidents, and great credit. When quoting prices based on his current risk factors, Utica National might quote the cheapest car insurance rates in Cleveland at $811 per year. This is $229 less than the average rate paid by Ohio drivers of $1,040. Erie, Frankenmuth, Allied, and USAA round out the rest of the top five cheapest Cleveland, OH auto insurance companies.

Now let’s give the driver from the first set of rates an accident claim, bad credit, and a speeding citation. Since each auto insurance company uses their own calculation for filing rates in each state, comparing rates will most likely result in a different ranking of the cheapest car insurance companies in Cleveland as shown below.

Merchants Insurance Group now has the lowest car insurance rate in Cleveland, OH with Cincinnati Insurance, Grange Mutual, Motorists Mutual, and General Casualty now rounding out the top five. This example shows why Ohio drivers need to shop around with many companies to get affordable auto insurance rates for used cars.

Rates consist of many different factors and can change substantially, so the best option two years ago may now cost much more than other companies.