Who Has Affordable Toledo Car Insurance for Seniors?

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.

How much does auto insurance cost in Toledo?
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
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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.

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Who has the cheapest car insurance in Ohio?
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
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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.

Cheapest Vehicles to Insure in Toledo, OH
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
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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

Discounts on insurance for seniorsInsurance 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.

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

  1. USAA – 92%
  2. Erie Insurance – 88%
  3. American Family – 88%
  4. State Farm – 88%
  5. Nationwide – 88%
  6. 21st Century – 88%
  7. AAA Insurance – 87%
  8. Liberty Mutual – 87%
  9. Farmers Insurance – 87%
  10. The Hartford – 87%

Top 10 Large Auto Insurers Overall in Toledo

  1. USAA
  2. 21st Century
  3. GEICO
  4. Nationwide
  5. AAA Insurance
  6. Liberty Mutual
  7. Safeco Insurance
  8. State Farm
  9. Travelers
  10. 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.

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.

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.