Automobile Insurance in Ohio

It is one of the cheapest states for car insurance and has low living costs too. So money goes further and motorists aren’t under pressure with expensive premiums here. However, this shouldn’t make you complacent because you can end up paying 3 times more if you don’t shop around and end up with a non competitive company. Finding keener underwriters can save you a lot and this post can help you in locating them, as well as offering a few tips on the subject.

When you reside in a cheaper region you can enjoy life a bit more. Living in large cities and heavily populated parts of the US is harder as residents usually pay much higher rent, premium and a few other expenses. You should try to find the best deals regardless of the zip code. Most of us have limited budgets and the last thing we want is to be wasteful.

Considering the lower prices in the Buckeye State, it is surprising to see 16% Uninsured Drivers, which is higher than most others and the national average (14%). This figure shows that there are a few motorists who cannot afford to buy even the basic liability policy. Some may choose not to spend money for it but most people wouldn’t go without coverage if they could afford it.

Ohio Vehicle Insurance Laws and Requirements

Any liability coverage must have at least below basic limits;

  • $25,000 for bodily injury or death per person.
  • $50,000 total for bodily injury or death per accident.
  • $25,000 for property damage.

Collection of Pictures from Ohio The commissioner’s office would provide the most accurate updates and information on the topic and you can check them on its website. You can also search through it for the answers you are looking for.

Regardless of the current ratios, you should consider buying Uninsured Drivers coverage because it includes hit and run cases as well. Furthermore, you should remember that basic liability only doesn’t provide any protection for your own vehicle. You need to buy Collision and Comprehensive Coverage to insure your own automobile properly. There are a few more options to include within a policy but you need to get the essentials first and see if it is still affordable and have room for more. Liability, Collision and Comprehensive components together handle the most frequently seen and potentially largest claims.

If you are worried about the costs you can find out how much you need to pay for different levels of protection. You may be surprised to find out how affordable full coverage can be. There are a few companies who are trying hard to offer good provisions and cheap prices in nifty packages in Ohio. You need to find them if you want to have great value and peace of mind. Otherwise, high costs might scare people enough to stop the search halfway and be content with a half-baked policy.

Automobile Insurance Prices in Ohio

One of the best ways of determining if you are paying too much is to look at state average premium expenditure, which is $659. It is nearly $200 cheaper than the US average. This figure is determined by looking at actual total spending and number of policies sold. Depending on how much auto insurance you need you may pay a bit more or less. For example, if you need full coverage you should be looking at $900 average as a benchmark.

Furthermore, your driving skills and experience will determine how much you need to pay. If you have a few traffic tickets you would probably spend a bit more than a typical applicant with a clean record. Recent accident claims affect rates substantially too. Finding out how much insurance goes up after an accident might answer some questions and explain a recent increase.  Furthermore, underwriters consider age, gender, zip code and credit score too when calculating quotes. If you are paying a lot more than the above figures you can look into those factors and see if you can remove some of the obstacles. For example, it may only take reducing credit card balances to improve a credit score that will result in a discount.

Cheapest Auto Insurers in Ohio

Premiums appear to be pretty uniform across the state including large cities of Columbus, Cleveland, Cincinnati and Toledo. Studies show that below companies are the most competitive in OH for a liability policy. Therefore you should get quotes from them before getting a few more from the usual suspects. The leading companies were further down in the list but this ranking can quickly change by the time you read this post. That is why it is better to spend a few minutes more to get some more quotes in order to make a proper comparison.

  1. Motorists Mutual, $273
  2. Erie, $290
  3. Grange Mutual, $324
  4. Cincinnati Ins., $339
  5. Westfield, $348

Many people in the USA think that they are getting the best deals from their current carriers. However, they come to this conclusion without checking alternative quotes. One of the reasons for this is that they want to believe they are being offered the best rates. This belief eliminates the necessity to figure out how to get discounts on vehicle insurance. You cannot get the best deals if you don’t bother to check for them. It really is as simple as that.

Recent studies show that large numbers of motorists don’t bother checking for alternative quotes at renewals. About 40% of the participants believe that they cannot save more than $100 and that is why it isn’t worth their time. However, the study concludes that motorists can save on average nearly 50% if they shop around for larger car insurance discounts. This translates to over $800, which isn’t small change by most people’s standard. There are at least 30 different methods to save on premiums. But none of them is as easy or rewarding as shopping around for the best quotes.

You shouldn’t make rush decisions or auto renew a policy until you confirm that you are really being treated well right now. It is best that they are disappointed because you found a better deal and decided to leave. It is better that you get disappointed because you are kept at your old rates while new applicants are getting better prices and more innovative policies.