How Much is Auto Insurance for a Company Car in Toledo?

The car, truck, or SUV needing coverage is probably the biggest factor when looking for the lowest-priced insurance for a company car. Vehicles with higher performance characteristics, a lack of safety features, or a high likelihood of having liability claims will cost more to insure than more modest models.

The next table outlines coverage prices for a selection of the more affordable automobiles to insure.

Cheapest Vehicles to Insure in Toledo, OH
Vehicle Insured Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $1,207
Honda Odyssey LX $1,330
Ford Escape XLS 4WD $1,384
Honda CR-V EX 4WD $1,417
Toyota RAV4 Limited 4WD $1,432
Ford F-150 FX2 2WD $1,459
Ford Explorer Limited AWD $1,465
Dodge Grand Caravan Crew $1,459
Ford Focus SEL 4-Dr Sedan $1,479
Honda Accord LX 4-Dr Sedan $1,482
Chevrolet Silverado LTZ Crew Cab 4WD $1,534
Chevrolet Malibu LTZ $1,540
GMC Sierra SLE Regular Cab 4WD $1,534
Dodge Ram Crew Cab ST 4WD $1,562
GMC Sierra 2500HD SLT Crew Cab 4WD $1,609
Volkswagen Jetta LE 4-Dr Sedan $1,639
Toyota Tacoma Double Cab 4WD $1,649
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Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Table data does not factor in vehicle garaging location which can alter insurance rates greatly.

Based upon the table data, we can infer that vehicles like the Hyundai Elantra, Honda Odyssey, Ford Escape, and Honda CR-V are most likely to be some of the cheaper vehicles to insure for your employer’s vehicle.

One of the more important components that aid in calculating insurance cost is where you live. Cities with larger populations are more likely to pay higher prices, whereas areas with lower crime rates and fewer weather claims get the luxury of paying less.

The illustration below shows the most costly cities in Ohio for a company car to purchase car insurance in. Toledo makes the list at #3 with an annual cost of $1,241 on average, which is around $103 each month.

How much does auto insurance cost in Toledo?
Rank City Average Per Year
1 Youngstown $1,285
2 Cleveland $1,259
3 Toledo $1,241
4 Cincinnati $1,222
5 Columbus $1,199
6 Cleveland Heights $1,178
7 Akron $1,157
8 Dayton $1,154
9 Hamilton $1,146
10 Euclid $1,140
11 Fairfield $1,095
12 Newark $1,095
13 Springfield $1,094
14 Lakewood $1,063
15 Canton $1,058
16 Middletown $1,055
17 Beavercreek $1,047
18 Cuyahoga Falls $1,037
19 Mansfield $1,022
20 Kettering $1,009
21 Parma $1,007
22 Strongsville $1,001
23 Lorain $985
24 Mentor $978
25 Elyria $975
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Information shown are approximated as specific Toledo zip code can influence insurance rates substantially.

Comparing quotes for budget insurance is not always easy, and finding out which companies have the best auto insurance rates for a company car will involve additional perseverance. Every insurance company uses slightly different criteria for establishing rates, so let’s rank the lowest cost auto insurance companies in Ohio.

Best Car Insurance Prices in Ohio

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Rankings for the cheapest Ohio auto insurance companies
Rank Company Cost Per Year
1 Utica National $647
2 Erie $681
3 Allied $690
4 Frankenmuth $701
5 Travelers $705
6 USAA $733
7 Cincinnati Insurance $756
8 Merchants Insurance Group $771
9 Motorists Mutual $792
10 Grange Mutual $812
11 General Casualty $837
12 Central Mutual $848
13 State Farm $858
14 Hastings Mutual $858
15 Westfield $908
16 Atlantic States $913
17 Western Reserve $941
18 Progressive $982
19 Nationwide $988
20 Auto-Owners $988
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Utica National generally has some of the best car insurance rates in Toledo at around $647 annually. Erie, Allied, Frankenmuth, and Travelers also are some of the cheapest Toledo, OH auto insurance companies.

In this example, if you are insured with Erie and switched to Utica National, you might see an annual premium reduction of approximately $34. Customers with Allied may save as much as $43 a year, and Frankenmuth insureds might lower prices by $54 a year.

To find out how much you can save, click here to start your free quote or feel free to get quotes from the companies below.

Be aware that those premiums are averages for all insureds and vehicles and do not factor in a specific zip code for a company car. So the car insurance company that fits you best may not even be in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.

The chart below highlights how deductible selection can change premium costs when researching cheap insurance for a company car. The premium estimates are based on a single female driver, full coverage, and no policy discounts are applied.

A 50-year-old driver could lower their car insurance rates by $178 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $272 by changing to a $1,000 deductible. Young drivers, like the 20-year-old example, could lower their rates $456 or even more just by choosing higher deductibles when buying full coverage.

When using a larger deductible, it is a good idea to have plenty of discretionary funds to offset the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Discounts on Toledo auto insurance

Auto insurance for your employer's vehicle in Toledo, OHInsurance providers that offer cheap quotes for a company car may additionally offer price discounts that could reduce prices by 35% or more if you meet certain criteria. Larger auto insurance companies and a summarized list of policyholder discounts can be read below.

The illustration below illustrates the difference between insurance prices with and without discounts applied to the premium. The premium estimates are based on a female driver, no claims or driving violations, Ohio state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with marriage, safe-driver, accident-free, anti-theft, defensive driving course, and multiple vehicle discounts applied. When discounts are factored in, the average savings per year on auto insurance for a company car is 27% or $253.

Cautious Toledo drivers save money

A great way to maintain low auto insurance prices for your employer’s vehicle is to drive cautiously and avoid accidents and violations. The information below shows how violations and at-fault accidents can raise yearly insurance costs for each different age group. The premiums assume a single female driver, full coverage, $100 deductibles, and no discounts are applied.

The chart shows that the average cost of a car insurance policy per year with no accidents and a clean driving record is $1,688. Get two speeding tickets and the average cost rises to $2,271, an increase of $583 each year. Now add one accident along with the two speeding tickets and the yearly cost of auto insurance for a company car goes up to an average of $2,861. That’s an increase of $1,173, or $98 per month, just for being a less-than-perfect driver!

Tips for buying cheaper auto insurance for a company car

The list below summarizes a few thrifty solutions that can help drivers locate low-cost coverage.

The last item on the list is incredibly important, as was affirmed in the prior information. Insurance prices in Toledo change a lot, so don’t be unwilling to buy from a new company if a lower-cost policy is available.

Being loyal to a particular company is commendable, but it’s not a great idea if that inflexibility results in costing you thousands of dollars over the life of your policy. In just a few minutes you could shop around to find cheaper car insurance for a company car.

If you have questions and prefer to have a consultation when trying to find lower insurance rates for a company car, the professional agents shown below are willing to provide answers to your questions and help you determine which insurance coverage will be best for you. To find a Toledo insurance agency by location nearest to you, click the button at the bottom of the list or click here to compare rates now.

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