You’ve seen the captivating ads from companies like Nationwide, Farmers, and GEICO claiming the cheapest price, so you should just pick the company with the best ad, right?
It’s not that easy, however, as there are a whole slew of unknown aspects like any driving violations you may have, whether you are female or male, how old you are, and the miles you drive each year. We will touch on the best ways to shop for cheaper coverage and educate you enough to have a jump start in finding the best auto insurance.
Finding reliable, reasonably-priced insurance is not easy, and figuring out which insurers offer the lowest-priced car insurance rates for 20 year old women calls for even more work. Every car insurance company uses their own formula for setting rates, so let’s begin by examining the overall cheapest car insurance companies in Cleveland, OH.
It’s important to understand that Ohio car insurance rates are based on many factors that control the cost of having a policy. Improving your financial situation, buying a higher-value vehicle, or getting a reckless driving citation can trigger price changes that can cause some rates to be higher-priced than the competition.
Find the Best Cheap Insurance for Women Age 20
|Rank||Company||Cost Per Year|
|8||Merchants Insurance Group||$771|
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Utica National may offer some of the best car insurance rates in Cleveland at around $628 a year. Allied, Frankenmuth, Erie, and USAA would also make the list of some of the cheapest Cleveland, OH insurance companies.
As shown in the table above, if you are a customer of Frankenmuth and switched to Utica National, you may realize an annual premium reduction of approximately $52. Policyholders with Erie could save as much as $59 a year, and USAA policyholders might cut rates by $105 a year.
These estimates are averaged for all drivers and vehicles in Ohio and and are not calculated with an exact location for 20 year old women. So the auto insurance company that can offer you the best rate may not even be in the top 33 companies shown above. That is why you need to get rate quotes using your own personalized driver profile and vehicle information.
For young women, one of the more important things that are used to help calculate car insurance rates is where you normally keep your vehicle. Areas with increased crime or more people tend to pay slightly more, whereas areas with less crime or weather claims benefit from lower prices.
The information below shows the highest-priced places in Ohio for 20 year old women to buy an auto insurance policy in. Cleveland is ranked #3 with the annual price of $1,272 for the average insured, which is about $106 monthly.
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Rates are estimated as vehicle location can lower or raise rates considerably.
The vehicle model requiring insurance is one of the biggest factors when looking for economical auto insurance for 20 year old women. Vehicles with more horsepower, a lack of advanced safety features, or a history of substantial liability claims will cost much more to insure than safer models.
The data below features car insurance rates for a number of the most budget-friendly vehicles to insure in Ohio.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$2,685|
|Ford Escape XLS 4WD||$2,693|
|Honda CR-V EX-L 2WD||$2,725|
|Ford Edge SE 2WD||$2,970|
|Jeep Wrangler Rubicon 4WD 2-Dr||$3,011|
|Dodge Grand Caravan CV||$3,016|
|Ford Focus S 4-Dr Sedan||$3,143|
|Chevrolet Equinox LS AWD||$3,183|
|Toyota RAV4 Limited 4WD||$3,193|
|Chevrolet Impala LT||$3,183|
|Ford F-150 XLT Crew Cab 4WD||$3,224|
|Ford Explorer Limited AWD||$3,233|
|Chevrolet Malibu LT||$3,224|
|Honda Civic VP 4-Dr Sedan||$3,316|
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Prices based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in zip code location which can modify rates considerably.
By looking at the data, you can expect vehicles like the Honda Accord, Ford Escape, Honda CR-V, and Toyota Prius are the cheapest vehicles to insure for young women. The cost of a car insurance policy will trend higher just because there is more claim risk for 20 year old women, but generally speaking those particular models will probably have the best rates compared to all other vehicles.
Impact of speeding/accidents on car insurance rates
The easiest way to find cheap car insurance rates in Cleveland for young women is to be a safe driver and avoid accidents and traffic citations. The diagram below demonstrates how speeding tickets and at-fault claims raise auto insurance rates for different age groups of insureds. The prices are based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are factored in.
In the example above, the average cost of auto insurance per year with no accidents or violations is $1,601. Get written up for one speeding ticket and the average cost swells to $1,804, an increase of $203 each year. Then add in one accident along with the one speeding ticket and the 12-month cost of car insurance for 20 year old women jumps again to an average of $2,378. That’s an increase of $777, or $65 per month, just for a couple of infractions!
Difference between liability only and full coverage rates
Saving money on car insurance is probably important to most people, and one good way to buy cheap insurance for 20 year old women is to only pay for liability coverage. The example below shows the difference between auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Ohio. The rates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no discounts are applied to the premium.
If averaged out across all ages, physical damage coverage on your policy costs $1,279 per year more than just insuring for liability. That amount may make you wonder if you should buy full coverage at all. There isn’t a written rule for excluding physical damage coverage, but there is a general convention. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement value is $11,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $10,500 after paying your policy deductible. If you are paying more than $1,050 a year for your policy with full coverage, then you might want to consider buying only liability coverage.
How to find more affordable auto insurance for 20 year old women
The list below details a few penny-pinching suggestions that can help you buy cheaper coverage.
- Be a safe driver
- Avoid filing excessive claims
- Drive safe vehicles
- Buy your auto and home insurance from the same company and save
- Being accident-free can lower rates significantly
- Comparison shop at least every other year
The last tip in the list is very necessary, as we hit on in the prior information. Coverage prices can change significantly in a year, so don’t be afraid to buy a different policy if you find a cheaper price. Sticking with a specific company is fine, but it isn’t a good idea if that loyalty ends up costing major coinage every year. If you have a few minutes, shop around to find cheaper auto insurance for 20 year old women in Cleveland.
If you have coverage questions and would like to get some professional advice when trying to find lower insurance rates for 20 year old women, the professional agents shown below can most likely aid you in deciding which coverages you need.
To find a Cleveland insurance agency in your neighborhood, click the button at the bottom of the list or click here to compare price quotes now.
Furlong and Co Insurance Agency Inc
569 E 185th St – Cleveland, OH 44119 – (216) 486-4170
MR Insurance Partners Agency, Inc.
3310 Prospect Ave E – Cleveland, OH 44115 – (216) 361-9797
A Better Insurance Services
20660 Aurora Rd – Cleveland, OH 44146 – (216) 475-6800