The words “economical” and “auto insurance” really shouldn’t be used together, specifically when searching for the cheapest coverage for nurses. To save some money, let’s get started by showing you some situations that significantly impact car insurance rates, and find a few ways to take the bite out of the next policy you buy.
Deciphering which company has the best insurance rates for nurses will take a little more work in order to find a policy that fits your budget. Every insurance provider used slightly different criteria for setting prices, so let’s take a look at the overall cheapest insurance companies in Ohio.
It’s a good idea to be aware that Toledo insurance rates are calculated based on many things which can substantially change the price you have to pay for coverage. Simply getting older, moving across town, or getting a ticket for careless driving can cause premium changes resulting in some rates now being more affordable than the competition.
Best Cheap Insurance Rates for Health Occupations
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $647 |
| 2 | Allied | $676 |
| 3 | Erie | $687 |
| 4 | Frankenmuth | $687 |
| 5 | Travelers | $726 |
| 6 | USAA | $741 |
| 7 | Merchants Insurance Group | $755 |
| 8 | Cincinnati Insurance | $779 |
| 9 | Motorists Mutual | $800 |
| 10 | Grange Mutual | $804 |
| 11 | General Casualty | $813 |
| 12 | Central Mutual | $840 |
| 13 | Hastings Mutual | $884 |
| 14 | State Farm | $894 |
| 15 | Atlantic States | $940 |
| 16 | Westfield | $946 |
| 17 | Western Reserve | $961 |
| 18 | Progressive | $982 |
| 19 | Auto-Owners | $988 |
| 20 | Nationwide | $998 |
| View More Rates Go | ||
Utica National may offer some of the most affordable car insurance rates in Toledo at around $647 each year. This is $393 less than the average rate paid by Ohio drivers of $1,040. Allied, Erie, Frankenmuth, and Travelers also are some of the cheaper Toledo, OH auto insurance companies.
As illustrated above, if you currently have a policy with Frankenmuth and switched to Allied, you might realize annual savings of in the neighborhood of $11. Insureds with Travelers may save as much as $50 a year, and USAA insureds might reduce prices by as much as $65 a year.
Bear in mind that those prices are averages for all drivers and vehicles and are not factoring in a specific location for nurses. So the insurer that can offer you the lowest price may not even be in the list above. That is why you need to get rate quotes using your own specific driver and vehicle information.
The type of vehicle you are insuring is one of the biggest factors when quoting the cheapest insurance for nurses. Vehicles with limited speed and performance, good crash test ratings, or a low likelihood of having liability claims will cost less to insure than high performance models. The next list ranks insurance premiums for a selection of the most cost-effective automobiles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford F-150 XL Regular Cab 2WD | $1,316 |
| Honda CR-V LX 2WD | $1,398 |
| Ford Explorer XLT AWD | $1,426 |
| Chevrolet Equinox LS AWD | $1,507 |
| Chevrolet Malibu Hybrid | $1,517 |
| Ford Escape Limited 4WD | $1,520 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,528 |
| Toyota Prius | $1,550 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,560 |
| Ford Edge SE 2WD | $1,583 |
| Chevrolet Impala LTZ | $1,588 |
| Toyota Corolla S | $1,598 |
| Honda Odyssey EX-L | $1,588 |
| Dodge Grand Caravan SE | $1,622 |
| Dodge Ram Crew Cab TRX 2WD | $1,647 |
| GMC Sierra SLE Regular Cab 2WD | $1,652 |
| Toyota RAV4 4WD | $1,658 |
| Find Cheaper Rates Go | |
Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Premium costs do not factor in vehicle location which can change rates noticeably.
Looking at the data, we can tell that models like the Ford F-150, Honda CR-V, Ford Explorer, and Chevrolet Equinox should be the most budget-friendly vehicles to insure for health professionals.
Rate increases following a ticket or accident
The easiest way to obtain affordable insurance rates for health professionals is to pay attention while driving and avoid traffic citations and accidents. The example below demonstrates how citations and at-fault accidents increase premium costs for different age groups of insureds. The rate quotes are based on a married male driver, comp and collision included, $100 deductibles, and no discounts are applied.
The data above shows the average cost of an auto insurance policy in Ohio per year with a clean driving record and no accidents is $1,121. Factor in one speeding ticket and the average cost hikes up to $1,284, an increase of $163 each year. Now add in one accident along with the one speeding ticket and the yearly cost of insurance for nurses goes up to an average of $1,746. That’s an increase of $625, or $52 per month, just for not keeping your driving record clean!
Get discount Toledo auto insurance
Car insurance companies that offer cheap quotes for nurses may provide price discounts that could reduce prices by 35% or more if you meet certain criteria. A few of the larger companies and a summarized list of policyholder discounts are:
- GEICO has savings for anti-theft, multi-vehicle, anti-lock brakes, daytime running lights, air bags, multi-policy, and membership and employees.
- SAFECO may have discounts that include anti-theft, homeowner, multi-car, accident prevention training, and safe driver.
- State Farm policyholders can earn discounts including safe vehicle, Drive Safe & Save, good driver, Steer Clear safe driver discount, accident-free, multiple autos, and student away at school.
- MetLife has discounts for multi-policy, good student, accident-free, good driver, defensive driver, and claim-free.
- 21st Century offers premium reductions for air bags, automatic seat belts, defensive driver, teen driver, student driver, anti-lock brakes, and good student.
- Progressive offers discounts including good student, multi-policy, online quote discount, multi-vehicle, continuous coverage, online signing, and homeowner.
The chart below illustrates the comparison of annual premium costs with and without discounts applied. The price estimates are based on a female driver, no driving violations, no at-fault accidents, Ohio state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with passive restraint, multiple policy, claim-free, safe-driver, accident-free, and vehicle safety discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on insurance for nurses is 27% or $272.
Rate difference between full and liability-only coverage
Finding the cheapest insurance is the goal of most vehicle owners, and a great way to save on the cost of insurance for nurses is to not pay for full coverage. The information below visualizes the comparison of insurance rates with and without full coverage. The data assumes no tickets, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied.
If averaged out across all ages, physical damage coverage costs an additional $1,308 per year over and above liability coverage. At some point, about every driver wonders if it’s a good idea to buy full coverage. There is no exact formula that is best for determining when to drop full coverage, but there is a general guideline. If the annual cost of having full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s assume your vehicle’s settlement value is $10,500 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $9,500 after the deductible is paid. If you are paying over $950 a year to have full coverage, then it’s probably a good time to buy liability coverage only.
There are some scenarios where dropping physical damage coverage is not in your best interest. If you still owe money on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
How to find more affordable insurance for nurses
The list below summarizes some money-saving solutions that can help you quote low-cost car insurance.
- Do not get traffic citations
- Safe vehicles cost less to insure
- Prevent rate increases by staying accident-free
- Frequent claims may make car insurance unaffordable
- Buy your homeowners policy from the same company as your auto insurance
- Compare prices frequently to find the best deal
The final tip is very important, as was stressed in this piece. Coverage rates go up and down frequently, so don’t be unwilling to switch carriers if a cheaper price is available.
Brand loyalty is great, but it’s not a good idea if that devotion results in you overpaying a lot of money. Now is a great time to compare prices and find cheaper car insurance for nurses in Toledo.
The auto insurance agents in Toledo shown below are a good start to aid you in deciding which insurance coverage will be best for you, since lots of drivers aren’t clear which coverage they need and would like to have some professional guidance when shopping around for cheaper insurance for health professionals. It’s not always easy to find the cheapest auto insurance company, so agents can provide you satisfaction knowing you have suitable coverage if you ever need to use it. To find a Toledo insurance agency by location nearest to you, click the link at the bottom.
- Knight Insurance Group
22 N Erie St – Toledo, OH 43624 – (419) 241-5133 - Kranz PJ Insurance Agency
4349 Talmadge Rd – Toledo, OH 43623 – (419) 473-2416 - Allstate Insurance: Chuck Bodette
1310 W Sylvania Ave – Toledo, OH 43612 – (419) 478-2400