Finding competitive insurance for a Toyota Corolla in Ohio doesn’t take too much effort, but it depends on a fairly complex equation with a lot of factors such as how you use your Corolla, your credit history, and any prior driving offenses. Drivers will pay on average $688 each year to insure their Corolla, but that is an approximation calculated based on a 40-year-old single female driver with full coverage and $500 deductibles.
There’s a good chance you are not 40 years old and maybe not even female, married instead of single, or maybe you have a teen driver on your policy that needs to be considered. Insurance is an individual thing, so the best way to find cheap insurance prices for your Toyota is to do the rate comparisons yourself. It only takes a couple of minutes and you will receive price comparisons from the cheapest companies that insure Toyota vehicles in Ohio.
The trim level of your Corolla tends to have a direct effect on the yearly cost, so the cost to insure a Corolla LE model will be $18 less than the insurance cost for the high end Corolla XRS model, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
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Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rate quotes do not factor in the specific area where the vehicle is garaged which can impact rates considerably.
Selecting the highest-rated auto insurance company can be a challenge considering how many different companies there are to choose from in Cleveland. The company information shown below could help you analyze which car insurance providers to look at shopping prices with.
The ratings below only include companies that write coverage in many states, so companies that may only write in Ohio are not factored into the list. To compare price quotes from many more Ohio auto insurance companies, just click here.
Top 10 Large Auto Insurance Providers in Cleveland Ranked by Value
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- 21st Century
The chart below illustrates how your choice of deductibles can raise or lower premium costs when quoting cheap insurance for a Toyota Corolla. Data assumes a married male driver, full physical damage coverage, and no other discounts are factored in.
In the chart above, a 30-year-old driver could pocket $236 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $356 by changing to a $1,000 deductible. Younger drivers, like the 20-year-old example, could potentially save as much as $718 annually by choosing a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it will be important to have enough in a savings account to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
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Ohio auto insurance rates are impacted by many things that will increase or decrease the policy premium. Getting older, buying a home instead of renting, or having an at-fault accident can trigger price changes that can cause some rates to be more affordable than before.
Not only that, but insurers modify pricing multiple times each year as an adjustment for underwriting gains or losses. Larger than normal claims can result in higher priced premiums, while long-term profits may cause lower-priced Corolla insurance rates.
To help illustrate this point, the data below compares the cheapest car insurance in Cleveland, OH for a 35-year-old male driver with no prior accidents, a clean driving record, and a good credit rating. If we estimate prices based on his current situation, Utica National quotes the best car insurance rates in Cleveland at $804 a year. This is $236 less than the average premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers round out the rest of the cheapest Cleveland, OH auto insurance companies.
Now we will give the driver from the first rate comparison a claim surcharge, a lower credit rating, and a few traffic violations. Due to the fact that each insurance company uses their own formula for determining rates, comparing insurance quotes may now show a different set of cheap Cleveland auto insurance companies as shown below.
Cincinnati Insurance now has the best insurance rate in Cleveland with Merchants Insurance Group, Grange Mutual, Motorists Mutual, and General Casualty also being competitive. This example illustrates why it is so important to take the time to shop around to get the most economical auto insurance quotes for a Toyota Corolla.
Rates are impacted by many factors and can increase or decrease at any time, so the cheapest rate the last time you shopped around may now be an over-priced policy.
The auto insurance agents in Cleveland shown below can answer your questions and help you decide which coverage meets your needs best, since some drivers aren’t sure which coverage they need and prefer to have a professional recommendation when trying to find lower insurance rates for a Toyota Corolla. It can be challenging to do it yourself, and agents can bring satisfaction knowing your coverage gives you adequate asset protection.
To find a Cleveland insurance agency by location nearest to you, click the link at the bottom.
Robin Gorman – State Farm Insurance Agent
16812 Chagrin Blvd – Shaker Heights, OH 44120 – (216) 283-0080
Allstate Insurance: Nanci Cieckiewicz
4719 State Rd – Cleveland, OH 44109 – (216) 739-0990
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
Allstate Insurance: Michael Wrobel
17016 Lorain Ave – Cleveland, OH 44111 – (216) 812-5413