The words “bargain” and “auto insurance” really should not be used together, especially when you are shopping around for the lowest insurance prices for seniors. To help control this cost, let’s start off by going over some things that determine insurance prices, and see if we can help you take the bite out of your next policy.
One of the many things that are looked at to determine the amount you pay for auto insurance is where you live. More populated areas tend to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.
The illustration below lists the most expensive areas in Ohio for seniors to purchase auto insurance in. Toledo is listed at #2 with an annual premium of $1,241 on average, which is around $103 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Cleveland | $1,272 |
| 2 | Toledo | $1,241 |
| 3 | Youngstown | $1,235 |
| 4 | Columbus | $1,211 |
| 5 | Cincinnati | $1,210 |
| 6 | Euclid | $1,175 |
| 7 | Cleveland Heights | $1,166 |
| 8 | Hamilton | $1,146 |
| 9 | Dayton | $1,142 |
| 10 | Akron | $1,135 |
| 11 | Fairfield | $1,095 |
| 12 | Canton | $1,091 |
| 13 | Springfield | $1,061 |
| 14 | Middletown | $1,055 |
| 15 | Newark | $1,053 |
| 16 | Lakewood | $1,041 |
| 17 | Cuyahoga Falls | $1,037 |
| 18 | Beavercreek | $1,027 |
| 19 | Kettering | $1,020 |
| 20 | Mentor | $1,018 |
| Compare Rates Now Go | ||
Premium amounts are comparative as specific Toledo garaging address can affect insurance rates considerably.
Deciphering which company has the most affordable insurance rates for seniors involves more work in order to find coverage that fits your budget. Every car insurance company has their own unique process to establish rates, so let’s take a look at the insurance companies with the overall cheapest rates in Toledo, OH.
We do need to point out that Toledo, OH insurance rates are influenced by many factors which can substantially decrease or increase the price you have to pay. Simply having a birthday, buying a different vehicle, or having an at-fault accident may prompt premium changes resulting in some companies being cheaper in comparison to the competition.
Lowest Insurance Price Quotes for Mature Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $628 |
| 2 | Erie | $667 |
| 3 | Frankenmuth | $687 |
| 4 | Allied | $690 |
| 5 | USAA | $719 |
| 6 | Travelers | $726 |
| 7 | Cincinnati Insurance | $756 |
| 8 | Merchants Insurance Group | $778 |
| 9 | Motorists Mutual | $800 |
| 10 | Grange Mutual | $812 |
| 11 | General Casualty | $813 |
| 12 | Central Mutual | $840 |
| 13 | Hastings Mutual | $884 |
| 14 | State Farm | $885 |
| 15 | Westfield | $908 |
| 16 | Western Reserve | $932 |
| 17 | Atlantic States | $940 |
| 18 | Auto-Owners | $968 |
| 19 | Progressive | $991 |
| 20 | Farmers | $995 |
| Find Cheaper Rates Go | ||
Utica National may have some of the best car insurance rates in Toledo at around $628 a year. This is $412 less than the average price paid by Ohio drivers of $1,040. Erie, Frankenmuth, Allied, and USAA also are some of the most economical Toledo, OH auto insurance companies.
As depicted above, if you are insured with USAA and switched to Erie, you could see annual savings of roughly $52. Insureds with Travelers could save as much as $59 a year, and Cincinnati Insurance insureds might reduce prices by as much as $89 a year.
Remember that these prices are averaged across all drivers and vehicles and do not factor in an exact vehicle garaging location for seniors. So the insurer that is best suited for you may not even be in the list above. That is why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
The vehicle you are buying coverage for is one of the largest factors when consumers are trying to find the best cheap insurance for seniors. Vehicles with high performance engines, poor safety features, or a history of substantial liability claims will cost quite a bit more to insure than more economical and safe models. The next table showcases insurance costs for a handful of the most economical vehicles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,009 |
| Honda CR-V EX-L 4WD | $1,034 |
| Ford Edge SE 2WD | $1,105 |
| Toyota Prius | $1,123 |
| Ford Explorer XLT 4WD | $1,131 |
| Dodge Grand Caravan CV | $1,141 |
| Chevrolet Impala LS | $1,169 |
| Honda Odyssey EX | $1,179 |
| Toyota Camry LE | $1,195 |
| GMC Sierra SLE Regular Cab 2WD | $1,201 |
| Chevrolet Silverado LS Extended Cab 4WD | $1,195 |
| Ford Fusion S 4-Dr Sedan | $1,200 |
| Chevrolet Malibu LS | $1,195 |
| Toyota RAV4 Limited 4WD | $1,200 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,220 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,233 |
| Hyundai Elantra SE 4-Dr Sedan | $1,256 |
| Start a Quote Go | |
Table data assumes married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Price information does not factor in specific garaging location which can raise or lower coverage rates significantly.
Looking at the data, we can presume that makes and models like the Ford Escape, Honda CR-V, and Ford Edge are most likely going to be a few of the more affordable vehicles to insure for senior citizens.
Discounts on Toledo car insurance
Insurance providers that provide policies for seniors may also provide policy discounts that may potentially lower prices by 25% or more if you are eligible to receive them. The best insurance companies and their offered discounts are included below.
- GEICO offers premium reductions for multi-policy, driver training, good student, defensive driver, five-year accident-free, and anti-theft.
- Mercury Insurance offers discounts including multi-car, multi-policy, age of vehicle, annual mileage, good student, anti-theft, and location of vehicle.
- Farmers Insurance includes discounts for early shopping, bundle discounts, homeowner, youthful driver, distant student, and business and professional.
- Auto-Owners Insurance has savings for teen driver, anti-theft, paid in full, anti-lock brakes, mature driver, good student, and group or association.
- Liberty Mutual discounts include preferred payment discount, newly retired, exclusive group savings, new vehicle discount, new graduate, teen driver discount, and multi-car.
- SAFECO offers discounts for safe driver, teen safety rewards, drive less, accident prevention training, anti-lock brakes, and teen safe driver.
- Progressive may include discounts for homeowner, online quote discount, continuous coverage, good student, multi-policy, and multi-vehicle.
- USAA policyholders can earn discounts including driver training, vehicle storage, multi-policy, defensive driver, and loyalty savings.
The information below illustrates the difference between auto insurance costs with and without discounts applied to the premium. The data is based on a male driver, a clean driving record, no claims, Ohio state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with vehicle safety, claim-free, passive restraint, homeowner, safe-driver, and defensive driving course discounts applied. In this example, the average savings per year on insurance for seniors is 29% or $425.
The example below demonstrates how deductibles can affect yearly insurance costs when searching for cheap insurance for seniors. The data assumes a single male driver, comprehensive and collision coverage, and no discounts are applied.
In the chart above, a 50-year-old driver could cut expenses by $186 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $282 by choosing a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could roll back prices $612 each year by using higher deductibles when buying full coverage. If you do raise deductibles, it will be necessary to have spare funds to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Finding the right car insurance company can be challenging considering how many companies provide coverage in Ohio. The ranking data below could help you decide which coverage providers to look at comparing rates with. These rankings only include companies that write coverage in many states, so smaller companies are not factored into these rankings.
Top 10 Large Auto Insurers in Toledo Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
Top 10 Large Auto Insurers Overall in Toledo
- USAA
- 21st Century
- GEICO
- Nationwide
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- Travelers
- American Family
If you prefer to have a consultation when buying car insurance for senior citizens, the agents below are a good start to help you make a decision which is the best policy.
To find a Toledo insurance agent using an interactive map, click the button following the list.
- Jan Scotland – State Farm Insurance Agent
4806 Dorr St – Toledo, OH 43615 – (419) 536-4200 - Allstate Insurance: Yark Insurance Agency
6019 Central Ave b – Toledo, OH 43615 – (419) 842-7660 - Park and Co Insurance
5749 Park Center Ct – Toledo, OH 43615 – (419) 474-8135
More insurance agents in Toledo, OH
How to find the cheapest insurance for seniors
Lowering your rates is not difficult, and here are a few thrifty solutions that can help Ohio drivers quote lower-cost car insurance.
- Drop full coverage on older vehicles
- Buying home and auto insurance together can earn discounts
- Speeding tickets and other violations increase rates
- Buy a safer vehicle
- At-fault accidents can raise rates significantly
- Pay less by remaining claim-free
- Ensure you have the best deal by shopping around regularly
That last piece of advice is remarkably vital, as was affirmed in this piece. Car insurance prices in Toledo change frequently, so you should be ready to switch carriers if a more affordable price is available. Brand loyalty is great, but is isn’t recommended if that devotion results in you overpaying hundreds of dollars year after year. In just a few minutes you could compare prices to find cheaper insurance for seniors.