Who Has Affordable Auto Insurance for Electric Cars in Toledo?

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The words "economical" and "insurance" probably shouldn't be used together, especially when searching for the best coverage prices for electric cars. Because it's so expensive, let's open your eyes to some situations that significantly impact car insurance prices, and see how we can help you slash the price of the next policy you buy.

For eco-friendly vehicles, one of the more important factors that aid in calculating insurance cost is where you call home. Cities with larger populations or higher claim trends tend to have higher auto insurance costs, whereas areas with less congestion can boast about having cheaper rates.

The following table lists the most costly cities in Ohio for electric cars to purchase auto insurance in. Toledo ranks #4 with the yearly price of $1,229 for the average policyholder, which is around $102 each month.

How much is auto insurance in Toledo, OH?
Rank City Annual Premium
1 Youngstown $1,285
2 Cleveland $1,259
3 Columbus $1,235
4 Toledo $1,229
5 Cleveland Heights $1,202
6 Cincinnati $1,174
7 Akron $1,157
8 Hamilton $1,146
9 Euclid $1,129
10 Dayton $1,120
11 Fairfield $1,095
12 Springfield $1,094
13 Canton $1,091
14 Middletown $1,066
15 Newark $1,053
16 Strongsville $1,041
17 Parma $1,037
18 Cuyahoga Falls $1,037
19 Lakewood $1,031
20 Mansfield $1,022
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Prices are estimated as the specific area where the vehicle is garaged can increase or decrease premiums considerably.

The car, truck, or SUV to be insured is one of the primary factors when comparing the most economical coverage for electric cars. Vehicles with average performance, modern passenger safety features, or a positive history of liability claims will cost substantially less to insure than high performance models. The table below features insurance rates for a selection of the most cost-effective vehicles to insure in Ohio.

Cheapest Vehicles to Insure in Toledo, OH
Vehicle Estimated Cost for Full Coverage
Honda CR-V EX-L 4WD $1,367
Ford Escape XLS 2WD $1,532
Ford Edge SE AWD $1,551
Toyota RAV4 Sport 4WD $1,582
Chevrolet Equinox LS 2WD $1,588
Volkswagen Jetta LE 4-Dr Sedan $1,582
Ford Fusion S 4-Dr Sedan $1,591
Hyundai Elantra SE Touring Station Wagon $1,658
Toyota Corolla LE $1,663
Toyota Prius $1,692
Honda Odyssey Touring $1,695
GMC Sierra SLT Crew Cab 2WD $1,701
Chevrolet Malibu LTZ $1,695
Nissan Rogue S 2WD $1,697
Toyota Tacoma 4WD $1,716
Ford Explorer XLT AWD $1,722
Toyota Camry Hybrid $1,810
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Information does not factor in Toledo, OH location which can alter coverage rates greatly.

By looking at the data, we can expect models like the Honda CR-V, Ford Escape, Ford Edge, and Toyota RAV4 should be the most budget-friendly vehicles to insure for eco-friendly vehicles.

Deciphering which company offers the cheapest car insurance rates for electric cars calls for more time than just getting one or two price quotes.

Each insurer uses a slightly different approach to set premium rates, so let's take a look at the car insurance companies with the most affordable rates in Ohio.

Best Car Insurance Prices for EV's

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Cheapest auto insurance in Ohio ranked by cost per year
Rank Company Cost Per Year
1 Utica National $628
2 Allied $669
3 Erie $687
4 Travelers $705
5 Frankenmuth $708
6 USAA $733
7 Merchants Insurance Group $748
8 Cincinnati Insurance $749
9 Motorists Mutual $800
10 Grange Mutual $804
11 General Casualty $813
12 Central Mutual $866
13 State Farm $885
14 Hastings Mutual $893
15 Atlantic States $940
16 Western Reserve $941
17 Westfield $946
18 Progressive $962
19 Nationwide $998
20 Auto-Owners $998
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Utica National generally has some of the cheapest car insurance rates in Toledo at around $628 annually. Allied, Erie, Travelers, and Frankenmuth also make the cut as some of the lowest-priced Toledo, OH auto insurance companies.

As shown in the table above, if you are a policyholder with Travelers and switched to Allied, you might realize a yearly price reduction of around $36. Drivers with Frankenmuth might save as much as $39 a year, and USAA insureds might see rate reductions of $64 a year.

To see if you're overpaying, click here to start your free quote or quote prices from the following companies.

Bear in mind that those policy prices are averages for all ages of drivers and types of vehicles and and are not calculated with an exact vehicle garaging location for electric cars. So the insurer that fits your situation best may not even be in the list above. That affirms the importance of why you need to get rate quotes from many companies using your own specific driver and vehicle information.

Picking a high-quality insurance provider can be challenging considering how many different insurance companies sell coverage in Toledo. The company ratings shown next could help you analyze which companies to look at when comparing rate quotes.

These rankings are only comprised of the companies with a significant amount of written premium nationwide, so smaller companies are not taken into consideration for the list. To compare price quotes from these and other companies in Ohio, follow this link.

Top 10 Major Auto Insurance Providers in Toledo Ranked by Claims Service

  1. Progressive
  2. Travelers
  3. Liberty Mutual
  4. Nationwide
  5. USAA
  6. GEICO
  7. AAA Insurance
  8. Safeco Insurance
  9. Esurance
  10. The General

Top 10 Major Auto Insurance Providers in Toledo Ranked by A.M. Best Rating

  1. USAA - A++
  2. GEICO - A++
  3. Travelers - A++
  4. State Farm - A++
  5. Allstate - A+
  6. Progressive - A+
  7. Erie Insurance - A+
  8. The Hartford - A+
  9. Nationwide - A+
  10. Esurance - A+

Full coverage versus liability-only in Toledo

Buying cheaper car insurance is probably important to the majority of vehicle owners, and one of the fastest ways to lower the cost of insurance for electric cars is to not buy full coverage. The diagram below shows the comparison of premium costs with full coverage and liability only. The rates are based on no claims or driving violations, $1,000 deductibles, marital status is single, and no discounts are applied.

On average, full coverage costs $961 per year over having just liability coverage. Many drivers may wonder if physical damage coverage is worth the money. There is no clear-cut rule to stop buying full coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

Are you paying too much for car insurance in Toledo?

Toledo car insurance rates are determined by lots of factors that can increase the price of coverage. Improving your credit rating, buying a different vehicle, or having an accident can trigger price changes that can make some companies more affordable than before.

Additionally, companies modify pricing as often as every three months to reflect underwriting profits or losses. Significantly higher claims may cause additional premium costs, while lower claim expenses may cause cheaper Toledo car insurance rates.

The bar chart below shows a variety of companies that have the cheapest car insurance in Toledo, OH for a 45-year-old female driver with no accidents or violations, and a decent credit rating. If we compare prices based on her current risk factors, Utica National might offer the lowest car insurance rates in Toledo at $849 per year. This is $191 less than the average price paid by Ohio drivers of $1,040. Erie, Frankenmuth, Allied, and Travelers are the remaining most affordable Toledo, OH auto insurance companies.

In the next rate comparison, we'll give the driver in the first chart a claim surcharge, less-than-perfect credit, and a stop sign violation. Because each insurer has a different process to determining premium rates, analyzing rates may now show a slightly different list of cheap Toledo auto insurance companies as shown below.

Cincinnati Insurance now has the cheapest insurance rate in Toledo with Merchants Insurance Group, Grange Mutual, General Casualty, and Motorists Mutual now rounding out the top five. This shows why it is critical to do a thorough rate comparison when trying to find the lowest car insurance rates for electric cars. Insurance rates are influenced by many risk factors and can change without notice, so the best company two years ago may now be one of the higher cost companies.

How to find cheaper car insurance for electric cars

The list below details some of the recommended money-saving ideas that can help Toledo drivers get more affordable coverage.

That last idea is extremely critical, as we stressed in this article. Prices charged by car insurance companies in Toledo go up and down frequently, so don't be unwilling to buy a policy from a new company if a more affordable rate is found.

Having brand loyalty is commendable, but is isn't recommended if that faithfulness ends up costing you a fortune every year. If you have a few minutes, now is a great time to compare rates to find cheaper car insurance for electric cars.

The insurance agencies below are a good start to help you determine which coverages are best, since some drivers have questions and prefer to have a little guidance when shopping for the best coverage for electric cars. It can be time-consuming to find the cheapest rates, and getting advice from a licensed agent can give satisfaction knowing your coverage gives you enough coverage when you need it. To find an agent close to where you live, click the button link following the list or click here to compare price quotes now.

State Farm: Romie Brown
1843 W Alexis Rd #1 - Toledo, OH 43613 - (419) 480-1212

Detlef Insurance
833 Woodville Rd - Toledo, OH 43605 - (419) 693-7458

Westgate Insurance
3450 Central Ave #344 - Toledo, OH 43606 - (419) 536-2213

Mouch Insurance Associates, Inc.
3132 W Sylvania Ave - Toledo, OH 43623 - (419) 725-0056

More insurance agents in Toledo, OH