It would sure make life easier if we could tell you the single best car insurance company that is cheapest in Ohio. Regrettably, it’s not quite that easy, as there are many unknown factors such as how high your deductibles should be, if you have a spouse, and how many years you have been driving, that all factor into the price you pay. The information below covers the best ways to save money and will hopefully give you a good start to your coverage search.
For new drivers, one of the big things that are looked at to determine the amount you pay each year for auto insurance is your zip code in Cleveland. Areas with high crime rates or more dense population tend to pay slightly more, whereas areas with less crime or weather claims can boast about having cheaper rates.
The next table rates the most expensive areas in Ohio for 16 year olds to buy auto insurance in. Cleveland shows up at #2 with an annual premium of $1,259 for car insurance, which is approximately $105 each month.
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Premium costs are comparative as the garaging address in Cleveland can lower or raise price quotes greatly.
The type of vehicle you are trying to insure is a large consideration when comparison shopping for low-priced auto insurance for 16 year olds. Vehicles with more horsepower, a lack of safety features, or high incidents of liability claims will cost more to insure than safer models. The next list illustrates insurance prices for the more affordable vehicles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$5,936|
|Honda CR-V EX 2WD||$5,944|
|Honda Accord EX-L 4-Dr Sedan||$6,356|
|Ford Explorer XLT AWD||$6,680|
|Ford Focus SE 4-Dr Sedan||$6,985|
|Honda Odyssey EX W/Rear Entertainment||$6,990|
|Chevrolet Impala LS||$6,985|
|Ford Edge Limited 2WD||$6,991|
|Volkswagen Jetta LE 4-Dr Sedan||$7,043|
|Jeep Grand Cherokee Laredo 4WD||$7,052|
|Toyota RAV4 Sport 2WD||$7,043|
|Chevrolet Equinox LS 2WD||$7,052|
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Data based on single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate information does not factor in specific Cleveland, OH garaging location which can decrease or increase premium rates greatly.
Based upon these rates, we can assume that vehicles like the Ford Escape, Honda CR-V, Honda Accord, and Toyota Prius are the most budget-friendly vehicles to insure for new drivers. Car insurance rates will be more costly just because there is more inherent risk for 16 year olds, but generally speaking those vehicles will tend to have the best rates compared to other vehicles.
The information below shows how choosing a deductible can increase or decrease insurance costs when getting quotes for cheap insurance for 16 year olds. Data assumes a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
A 50-year-old driver could save $260 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $392 by switching to a $1,000 deductible. Younger drivers, like the 20-year-old category, have the ability to save as much as $860 each year just by choosing higher deductibles. If you make the decision to raise deductibles, it will be required to have emergency funds available to allow you to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Get discount Cleveland insurance rates
Insurers that provide policies for 16 year olds may have price discounts that could reduce prices by as much as 35% or more if you are eligible to receive them. Companies and some of the discounts are detailed below.
- Progressive policyholders can earn discounts including homeowner, good student, multi-vehicle, online signing, multi-policy, and online quote discount.
- SAFECO has discounts for bundle discounts, accident prevention training, drive less, anti-theft, and teen safe driver.
- American Family has savings for defensive driver, air bags, mySafetyValet, multi-vehicle, early bird, and TimeAway discount.
- MetLife offers discounts for good driver, claim-free, multi-policy, defensive driver, accident-free, good student
- GEICO may include discounts for good student, air bags, defensive driver, daytime running lights, multi-policy, and driver training.
- The Hartford includes discounts for bundle, defensive driver, vehicle fuel type, air bag, driver training, anti-theft, and good student.
The chart below illustrates the comparison of annual premium costs with and without discounts. The price estimates are based on a male driver, no claims or driving citations, Ohio state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with vehicle safety, paid-in-full, anti-theft, passive restraint, good student, and paperless filing discounts applied. When drivers qualify for the discounts, theaverage amount saved on insurance for 16 year olds is 28% or $476.
Impact of citations and accidents on Cleveland insurance rates
The easiest method to earn the most affordable insurance premiums in Ohio for new drivers is to drive cautiously and not get tickets or have accidents. The information below illustrates how violations and at-fault collisions can impact insurance costs for each different age category. The data assumes a single female driver, full physical damage coverage, $250 deductibles, and no other discounts are factored in.
In the previous example, the average cost of an auto insurance policy in Cleveland per year with no accidents or violations is $1,520. Factor in one speeding ticket and the average cost surges to $1,723, an increase of $203 each year. Then add one accident along with the one speeding ticket and the annual cost of insurance for 16 year olds jumps again to an average of $2,297. That’s an increase of $777, or $65 per month, just for being a less-than-perfect driver!
You are probably paying too much for car insurance
Ohio insurance rates are calculated based on many things which can substantially change the cost of your policy. Improving your credit rating, buying higher coverage limits, or getting a ticket for running a stop sign can trigger changes in premium that can make some companies cheaper in comparison to the competition. In addition, companies change the rates they charge in Ohio as often as every three months to ensure their profitability. A period of higher than normal claims can result in increased policy costs, while a better claims history can produce lower-priced Cleveland car insurance rates.
To illustrate this point, the chart below shows the companies that have the cheapest car insurance in Cleveland, OH for a 30-year-old male driver with a clear driving record, no claims, and good financial standing. When comparing rates based on his current risk profile, Utica National may offer the lowest car insurance rates in Cleveland at $853 annually. This is $187 less than the average premium paid by Ohio drivers of $1,040. Frankenmuth, Erie, Allied, and USAA are the remaining top five cheapest Cleveland, OH auto insurance companies.
The example below compares rates after we give the driver from above some claims, poor credit, and a couple of points charged on his driving record. Because each company has their own formula to determining premium rates, comparing insurance quotes may now present a substantially altered list of affordable companies as shown below.
Cincinnati Insurance now has the cheapest insurance rate in Cleveland with Merchants Insurance Group, Motorists Mutual, Grange Mutual, and General Casualty also being competitive. This example shows why Ohio drivers need to take the time to shop around when trying to get the lowest insurance quotes for 16 year olds.
Insurance prices are calculated by many risk factors and change frequently, so the cheapest company the last time you checked may now be priced much higher than other options.