It’s hard to miss the captivating commercials from companies like Allstate and Progressive that say if you switch you’ll get dirt cheap rates, so you just need to choose the one with the flashiest ad, right?
Unfortunately, it’s not that simple as there are a ton of unknown elements like whether you are single or married, how much you actually drive in a year, and how well you maintain your credit, that all impact the price you pay. This article will cover the different scenarios that increase car insurance cost and should give you some help in finding cheaper rates.
Figuring out which companies offer the cheapest auto insurance rates for homeowners may require a bit more effort than just comparing a company or two. Each auto insurer has a different formula to set their prices, so we will examine the auto insurance companies that tend to be cheaper in Cleveland, OH.
Best Auto Insurance Prices for Homeowners
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $635 |
| 2 | Erie | $661 |
| 3 | Allied | $676 |
| 4 | Frankenmuth | $708 |
| 5 | Travelers | $712 |
| 6 | USAA | $733 |
| 7 | Cincinnati Insurance | $749 |
| 8 | Merchants Insurance Group | $755 |
| 9 | Grange Mutual | $812 |
| 10 | Motorists Mutual | $816 |
| 11 | General Casualty | $837 |
| 12 | Central Mutual | $848 |
| 13 | State Farm | $885 |
| 14 | Hastings Mutual | $893 |
| 15 | Atlantic States | $904 |
| 16 | Westfield | $908 |
| 17 | Western Reserve | $970 |
| 18 | Auto-Owners | $988 |
| 19 | Progressive | $991 |
| 20 | Farmers | $995 |
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Utica National generally has some of the cheapest car insurance rates in Cleveland at around $635 a year. Erie, Allied, Frankenmuth, and Travelers also make the cut as some of the more affordable Cleveland, OH car insurance companies.
As illustrated above, if you are currently insured with Erie and switched to Utica National, you could see a yearly savings of approximately $26. Drivers with Allied might save as much as $41 a year, and Frankenmuth customers might see rate reductions of $73 a year.
To see how much you can save, click here to get a free quote or visit any of the companies below.
Bear in mind that those policy rates are averaged for all drivers and vehicles in Ohio and do not factor in a specific vehicle garaging location for homeowners. So the car insurance company that has the cheapest price for you may not even be in the top 33 companies shown above. That illustrates why you need to quote rates from many companies using your own driver and vehicle profiles.
The car, truck, or SUV you are seeking coverage for is probably the most important factor when shopping around for cheap auto insurance for homeowners. Vehicles with lots of horsepower, poor passenger safety features, or an increased likelihood of liability claims will cost substantially more to insure than more economical and safe models. The data below showcases auto insurance prices for a selection of the cheapest automobiles to insure in Ohio.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $1,308 |
| Honda CR-V EX 2WD | $1,317 |
| Ford F-150 XL Super Cab 2WD | $1,316 |
| Toyota Prius | $1,325 |
| Chevrolet Equinox LS 2WD | $1,419 |
| Ford Escape Limited 4WD | $1,424 |
| Ford Explorer Limited AWD | $1,444 |
| Ford Edge Limited AWD | $1,495 |
| Toyota Tacoma X-Runner 2WD | $1,501 |
| GMC Sierra SL Crew Cab 4WD | $1,520 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,528 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,523 |
| Dodge Grand Caravan CV | $1,531 |
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Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Rates do not factor in vehicle location which can influence premiums substantially.
Looking at the data, you can conclude that models like the Honda Accord, Honda CR-V, and Ford F-150 will be some of the more affordable vehicles to insure for people who own their homes.
Impact of violations and accidents on rates in Cleveland
In a perfect world, the ideal way to obtain cheap auto insurance premiums in Cleveland for people who own their homes is to drive safely and avoid accidents and violations. The chart below demonstrates how speeding tickets and accidents impact premium costs for different age groups of insureds. The data assumes a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of auto insurance in Cleveland per year with no accidents or violations is $1,364. Add in two speeding tickets and the average cost jumps to $1,883, an increase of $519 each year. Then include one accident along with the two speeding tickets and the annual cost of auto insurance for homeowners increases to an average of $2,413. That’s an increase of $1,049, or $87 per month, just for being a careless driver!
Discounts on Cleveland insurance
Insurance providers that offer cheap quotes for homeowners may additionally offer policy discounts that can lower rates by 40% or more if you meet eligibility requirements. Companies and some of their more popular discounts are included below.
- American Family may include discounts for early bird, multi-vehicle, good student, bundled insurance, defensive driver, and TimeAway discount.
- Farm Bureau offers discounts for renewal discount, good student, multi-policy, youthful driver, safe driver, multi-vehicle, and driver training.
- State Farm may offer discounts for multiple autos, Steer Clear safe driver discount, good driver, passive restraint, and Drive Safe & Save.
- Travelers policyholders can earn discounts including continuous insurance, hybrid/electric vehicle, good student, student away at school, and new car.
- The Hartford offers discounts including defensive driver, anti-theft, air bag, driver training, good student, vehicle fuel type, and bundle.
- GEICO includes discounts for multi-vehicle, seat belt use, multi-policy, defensive driver, federal employee, and membership and employees.
- Progressive may have discounts that include multi-policy, multi-vehicle, continuous coverage, good student, and homeowner.
The example below shows the difference between car insurance costs with and without discounts applied to the policy rates. The premiums are based on a male driver, no claims or driving violations, Ohio state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with marriage, multiple vehicle, anti-theft, vehicle safety, passive restraint, and safe-driver discounts applied. When drivers qualify for the discounts, the average amount saved each year on auto insurance for homeowners is 27% or $328.
The importance of shopping around
Ohio auto insurance rates are based on many factors which can significantly increase or decrease the price you pay. Turning one year older, filing a claim, or getting a few speeding tickets can trigger changes in premium that can make some companies cheaper than competitors. In addition to those changes, insurance companies amend pricing multiple times each year to ensure their profitability. Unexpectedly high claims can result in more expensive premiums, while a better claims history can produce lower-priced Cleveland car insurance rates.
To help illustrate this point, the bar chart below shows the cheapest car insurance in Cleveland, OH for a 30-year-old male driver with no prior claims, no tickets, and a high credit rating. Based on his personal profile, Utica National might offer the best car insurance rates in Cleveland at $782 each year. This is $258 less than the average price paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers are the remaining cheapest Cleveland, OH auto insurance companies.
In the next rate comparison, we’ll give the driver in the first chart a claim, slightly worse credit, and a stop sign violation. Because each company has a proprietary method to set their prices, analyzing rate quotes could result in a slightly different list of affordable companies as shown below.
Cincinnati Insurance now has the lowest price in Cleveland, OH with Merchants Insurance Group, Motorists Mutual, General Casualty, and Grange Mutual now rounding out the top five. This example proves why it is crucial to do a thorough rate comparison to find cheap car insurance quotes for homeowners. Auto insurance prices can be determined by many factors and can decrease or increase without notice, so the best option when you bought your policy may now cost much more than other companies.
How to find cheaper car insurance for homeowners
The list below shows a few penny-pinching suggestions that can help you locate cheaper auto insurance.
- Save money by insuring your home and auto with the same company
- Do not waste money insuring older vehicles for full coverage
- Higher credit scores can equal lower rates
- Choose a safer vehicle and pay lower rates
- Accident-free drivers may qualify for discounts
- Comparison shop at least every other year
The last idea is extraordinarily critical, as we stressed in the article above. Prices in Cleveland can change in a short period of time, so drivers shouldn’t hesitate to switch companies if a lower price can be found.
Sticking with a specific company is fine, but it’s not recommended if that inflexibility results in costing you lots of hard earned cash every month. It only take a few minutes to compare prices to find cheaper insurance for homeowners.
The Cleveland auto insurance agencies shown below can probably answer your questions and help you decide which insurance coverage will be best for you, as lots of drivers aren’t clear which coverage they need and would like to have the advice of a professional agent when shopping for cheaper insurance for people who own their homes. It can be challenging to find the cheapest rate yourself, and insurance agents can provide peace of mind knowing your policy gives you adequate protection. To locate an agency close to you, click the button at the bottom.
- Farmers Insurance – Earl Soroka
1621 Euclid Ave #408 – Cleveland, OH 44115 – (216) 452-0885 - Furlong and Co Insurance Agency Inc
569 E 185th St – Cleveland, OH 44119 – (216) 486-4170 - Insurance Cleveland Agency, LLC
5602 State Rd – Parma, OH 44134 – (800) 701-5909 - Insurance Consultants Agency
23980 Chagrin Blvd – Cleveland, OH 44122 – (216) 766-6300