Establishing which insurers offer the most affordable car insurance rates for police officers involves a little more work than just comparing rates from one or two companies. Every insurance company has their own formula for determining rates in each state, so let’s examine the most affordable car insurance companies in Cleveland.
It’s important that you understand Ohio car insurance rates are influenced by many factors which can substantially decrease or increase the price you have to pay for coverage. Simply improving your credit, increasing liability limits, or getting a ticket for careless driving may cause policy rate changes resulting in some companies being more affordable than competitors.
Best Cheap Insurance Rates for Law Enforcement
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$748|
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Utica National generally has some of the cheapest car insurance rates in Cleveland at around $654 annually. Erie, Frankenmuth, Allied, and Travelers would also be considered some of the cheaper Cleveland, OH insurance companies.
As depicted above, if you buy coverage from Frankenmuth and switched to Utica National, you could see an annual savings of around $33. Ohio drivers with Allied might save as much as $43 a year, and Travelers insureds might lower prices by $51 a year.
Be aware that those premium estimates are averaged across all types of drivers and the different vehicles they drive and and are not figured with a vehicle location for police officers. So the auto insurance company that fits you best may not even be in the top 33 companies shown above. That underscores the importance of why you need to quote rates from as many companies as possible using your own individual information.
The car, truck, or SUV you are buying coverage for is probably the biggest factor when consumers are trying to find cheap auto insurance for police officers. Vehicles with reasonable performance levels, good safety features, or a low likelihood of liability claims will cost less to insure than high performance models. The next list ranks car insurance premiums for the most budget-friendly automobiles to insure in Ohio.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,218|
|Ford F-150 FX2 Super Cab 2WD||$1,369|
|Honda Accord LX-P 4-Dr Sedan||$1,396|
|Toyota RAV4 Limited 4WD||$1,444|
|Honda CR-V LX 2WD||$1,494|
|Chevrolet Equinox LTZ AWD||$1,547|
|Ford Fusion SEL 4-Dr Sedan||$1,556|
|Dodge Grand Caravan SE||$1,567|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,622|
|Ford Edge Limited 2WD||$1,624|
|Kia Optima SX||$1,649|
|GMC Sierra 2500HD SLE Regular Cab 2WD||$1,654|
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Table data represents single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Table data does not factor in zip code location which can modify price quotes substantially.
Based upon the rates shown, we can tell that models like the Ford Escape, Toyota Prius, Ford F-150, and Honda Accord are likely to be the most budget-friendly vehicles to insure for law enforcement personnel.
Full coverage versus liability only rates
Buying cheaper car insurance is probably important to the majority of vehicle owners, and an easy way to buy cheap insurance for police officers is to only buy liability coverage. The diagram below illustrates the comparison of premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Ohio. Data assumes no accidents or driving violations, $250 deductibles, single status, and no policy discounts are applied.
As an overall average, physical damage coverage costs $1,200 per year over having just liability coverage. That proposes the question if you should buy full coverage. There isn’t a steadfast formula of when to exclude physical damage insurance, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s say your vehicle’s book value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would receive is $5,000 after paying your deductible. If you are paying more than $500 annually to have full coverage, then it’s probably a good time to buy liability coverage only.
Types of discounts on Cleveland insurance
Auto insurance companies that offer coverage for police officers may also offer rate discounts that could potentially reduce rates by as much as 40% or more if you are eligible for them. A few popular companies and a partial list of their discounts include:
- American Family includes discounts for Steer into Savings, accident-free, bundled insurance, air bags, early bird, multi-vehicle, and good driver.
- Farm Bureau discounts include driver training, renewal discount, multi-vehicle, good student, and multi-policy.
- State Farm policyholders can earn discounts including Drive Safe & Save, Steer Clear safe driver discount, good student, defensive driving training, and multiple policy.
- Travelers may include discounts for multi-car, home ownership, hybrid/electric vehicle, new car, and driver training.
- The Hartford offers premium reductions for bundle, defensive driver, vehicle fuel type, good student, air bag, and anti-theft.
- GEICO offers discounts for five-year accident-free, emergency military deployment, membership and employees, multi-vehicle, driver training, anti-lock brakes, and defensive driver.
- Progressive offers discounts including good student, multi-policy, continuous coverage, homeowner, online quote discount, online signing, and multi-vehicle.
The example below visualizes the comparison of car insurance costs with and without discounts applied. The prices are based on a female driver, a clean driving record, no at-fault accidents, Ohio state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with accident-free, passive restraint, safe-driver, claim-free, marriage, and multiple policy discounts applied. When taking advantage of discounts, theamount saved on car insurance for police officers is 28% or $340.
Who has the cheapest Cleveland car insurance?
Ohio car insurance rates are calculated based on many things that control the cost of coverage. Turning one year older, getting married, or getting caught speeding may prompt premium changes resulting in some companies being cheaper in comparison to the competition.
And not only may your rating factors change, but insurance companies amend premium rates every year or even multiple times each year as an adjustment for underwriting gains or losses. Heavier than normal losses can cause rate increases, while less frequent claims may cause cheaper Cleveland car insurance rates.
To help illustrate this point, the bar chart below shows the company with the cheapest car insurance in Cleveland, OH for a 30-year-old male driver with no accidents, a clean driving record, and excellent credit. When comparing rates based on his current risk factors, Utica National may offer the most affordable car insurance rates in Cleveland at $811 each year. This is $229 less than the average premium paid by Ohio drivers of $1,040. Erie, Allied, Travelers, and Frankenmuth round out the rest of the top five cheapest Cleveland, OH auto insurance companies.
Now we will give the driver in the first chart an accident claim, a lower credit rating, and a speeding ticket. Due to the fact that every auto insurer has their own guidelines for determining rates, getting updated rate quotes will most likely result in a substantially altered list of affordable Cleveland car insurance companies as shown below.
Merchants Insurance Group now has the best auto insurance rate in Cleveland with Cincinnati Insurance, Motorists Mutual, Grange Mutual, and General Casualty also being competitive. This example demonstrates why Ohio drivers need to compare as many rates as possible when trying to find the best car insurance quotes for police officers.
Car insurance prices are made up of many risk factors and can increase or decrease at any time, so the lowest-price company the last time you shopped your coverage around may now be quite expensive.
Tips for buying cheaper car insurance for police officers
It is possible to find better rates, and here are some penny-pinching solutions that can help you quote cheap auto insurance.
- Higher deductibles mean lower rates
- Full coverage is expensive so only insure older vehicles for liability only
- Try to pay small claims out-of-pocket
- Accidents can significantly increase rates
- You will pay more if you get tickets or have at-fault accidents
- Compare rates regularly to ensure the best deal
That last tip is highly crucial, as was affirmed in this piece. Prices charged by car insurance companies in Cleveland adjust frequently, so don’t be afraid to change insurance companies if a cheaper rate is available. Brand loyalty is not necessarily bad, but it’s not recommended if that loyalty ends up costing a small fortune year after year. In just a couple of minutes you could shop around and find cheaper auto insurance for police officers.