Finding dependable, cheap insurance is confusing at best, and deciding which company has the cheapest auto insurance rates for a school permit takes even more diligence.
Each auto insurer has their own formula to determine premium rates, so first let’s look at the rankings for the most budget-friendly auto insurance companies in Ohio. We do need to point out that Toledo, OH auto insurance rates are based on many factors that will increase or decrease your annual premium. That is why consumers need to compare rates to get the cheapest insurance rates for a school permit. Car insurance prices can be altered by many risk factors and change substantially, so the best company the last time you shopped around may now be one of the higher cost companies.
Find the Best Cheap Insurance for Students
|Rank||Company||Cost Per Year|
|8||Merchants Insurance Group||$755|
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Utica National normally has some of the most affordable car insurance rates in Toledo at around $635 each year. This is $405 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also qualify as some of the more affordable Toledo, OH auto insurance companies.
In this example, if you buy coverage from Erie and switched to Utica National, you could see savings of roughly $52. Ohio drivers with Allied might save as much as $62 a year, and Frankenmuth insureds might lower prices by up to $66 a year.
Remember that these prices are averages across all insureds and vehicles and do not take into consideration a specific zip code for a school permit. So the company that can offer the best rates for your situation may not even be in the top 33 companies in the list above. That is why you need to quote rates from many companies using your own driver information and specific vehicle type.
The type of vehicle to be insured is a large consideration when quoting low-cost auto insurance for a school permit. Vehicles with higher performance characteristics, a lack of advanced safety features, or a track record of large liability claims will cost significantly more to insure than more modest models.
The table below shows insurance premiums for a number of the cheapest automobiles to insure in Ohio.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$5,364|
|Honda CR-V EX-L 2WD||$5,421|
|Ford Escape XLT 4WD||$5,431|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$5,957|
|Ford F-150 XL Regular Cab 4WD||$6,014|
|Ford Explorer XLT AWD||$6,022|
|Dodge Grand Caravan SE||$6,014|
|Ford Focus S 4-Dr Sedan||$6,308|
|Chevrolet Malibu LS||$6,365|
|Jeep Grand Cherokee Laredo 4WD||$6,372|
|Ford Fusion S 4-Dr Sedan||$6,365|
|GMC Sierra SLE Crew Cab 2WD||$6,375|
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Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in your specific Toledo, OH location which can influence coverage rates substantially.
Looking at the rates, vehicles like the Honda Accord, Honda CR-V, Ford Escape, Toyota Prius, and Jeep Wrangler are likely to be a few of the most economical vehicles to insure for a learners permit. The price of auto insurance will be more expensive because there is more risk for a school permit, but overall those particular vehicles will have the cheapest car insurance rates possible.
Safe drivers Toledo pay cheaper rates
The recommended way to earn the cheapest auto insurance premiums for a learners permit is to drive cautiously and avoid accidents and violations. The illustration below illustrates how traffic citations and at-fault collisions influence yearly insurance costs for each different age category. The information is based on a single male driver, full coverage, $1,000 deductibles, and no policy discounts are applied.
In the example above, the average cost of car insurance in Toledo per year with no violations or accidents is $1,039. Get written up for one speeding ticket and the average cost swells to $1,172, an increase of $133 each year. Now add in one accident along with the one speeding ticket and the annual cost of auto insurance for a school permit jumps again to an average of $1,539. That’s an increase of $500, or $42 per month, just for not being attentive to the road!
Discounts on Toledo auto insurance rates
Insurers that provide policies for a school permit may also provide price discounts that could reduce prices by as much as 35% or more if you are eligible for them. Larger auto insurance companies and their possible discounts can be found below.
- State Farm may include discounts for student away at school, good driver, accident-free, Drive Safe & Save, and good student.
- GEICO includes discounts for daytime running lights, emergency military deployment, anti-theft, military active duty, and membership and employees.
- Allstate has savings for teenSMART discount, 55 and retired, defensive driver, eSmart discount, new car, FullPay discount, and premier plus.
- SAFECO offers premium reductions for homeowner, anti-lock brakes, safe driver, drive less, multi-car, anti-theft, and accident prevention training.
- Farm Bureau has discounts for safe driver, renewal discount, multi-vehicle, driver training, and 55 and retired.
- Progressive may offer discounts for multi-policy, homeowner, continuous coverage, multi-vehicle, online signing, online quote discount, and good student.
- AAA policyholders can earn discounts including education and occupation, AAA membership discount, multi-car, anti-theft, multi-policy, pay-in-full, and good driver.
The chart below visualizes the comparison of car insurance rates with and without discounts applied to the premium. The premiums are based on a male driver, a clean driving record, no claims, Ohio state minimum liability limits, full coverage, 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 anti-theft, good student, paid-in-full, vehicle safety, continuous coverage, and paperless filing discounts applied. When drivers take advantage of discounts, the average savings per year on auto insurance for a school permit is 28% or $341.
The chart below illustrates how your choice of deductibles can increase or decrease annual premium costs when researching cheap insurance for a school permit. The rate quotes are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.
In the chart above, a 40-year-old driver could reduce rates by $252 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $380 by using a $1,000 deductible. Even younger drivers, like the 20-year-old category, can cut as much as $842 or even more just by choosing larger deductibles. When choosing a higher deductible, it’s a good idea to have plenty of money set aside to be able to cover the extra out-of-pocket expense, which deters some people from using high deductibles.
How to find low-cost auto insurance for a school permit
Here are some thrifty solutions that can help Toledo drivers get more affordable coverage.
- Vehicles with safetly features generally cost less to insure
- Buying home and auto together can help save money
- Don’t waste money on full coverage for older vehicles
- Avoid accidents and claims
- Try paying for small claims out-of-pocket
- Save money by observing traffic laws and speed limits
- Comparison shop at least once a year
The last item on the list is particularly important, as was noted in this piece. Rates can be changed at any time, so don’t be tentative to change insurance companies if you can save money. Having brand loyalty is commendable, but we do not recommend it if that faithfulness ends up costing you hundreds of dollars year after year. In just a couple of minutes you could shop around to find cheaper car insurance for a school permit in Toledo.
The professional agents shown below can most likely help you decide which is the best policy, as many people would rather have a professional recommendation when shopping for cheaper insurance for a school permit. It can be difficult to find the cheapest rates, so using a licensed agent can add satisfaction knowing you have sufficient coverage for your assets.
To locate a Toledo car insurance agency close to you, click the link after the list or click here to compare prices now.
Farmers Insurance – Patrick Hogan
3700 N Holland Sylvania Rd – Toledo, OH 43615 – (419) 517-5579
Matt Vierk – State Farm Insurance Agent
5650 W Central Ave, Ste AA – Toledo, OH 43615 – (419) 843-4001
Allstate Insurance: Ahmad Rachidi
1544 S Byrne Rd – Toledo, OH 43614 – (419) 385-4107