What Car Insurance is Cheapest for 16 Year Olds in Toledo?

The words “economical” and “auto insurance” really should not be used together, specifically when trying to find the best car insurance rates for 16 year olds. Because of the high cost, let’s familiarize you with some things that have a considerable impact on car insurance premiums, and see how we can help you shave a little off your next policy.

The vehicle requiring insurance is one of the main factors in finding cheaper coverage for 16 year olds. Vehicles with high performance features, poor safety features, or a history of substantial liability claims will cost quite a bit more to insure than more modest models.

The list below ranks car insurance costs for a number of the most affordable vehicles to buy coverage for.

Cheapest Vehicles to Insure in Toledo, OH
Make and Model Estimated Cost for Full Coverage
Hyundai Elantra GLS Touring Station Wagon $6,000
Ford Escape Limited 2WD $6,058
Honda CR-V EX-L 4WD $6,068
Honda Accord EX-L 4-Dr Sedan $6,425
Toyota Prius $6,480
Ford Explorer Eddie Bauer 2WD $6,750
Honda Odyssey EX $7,060
Ford Edge Limited 2WD $7,068
Ford Focus S 4-Dr Sedan $7,060
Honda Civic DX 4-Dr Sedan $7,070
Toyota RAV4 Limited 4WD $7,118
Toyota Tacoma Double Cab 4WD $7,124
Chevrolet Impala LT $7,118
Chevrolet Malibu LS $7,125
Volkswagen Jetta LE 4-Dr Sedan $7,118
Ford F-150 Lariat Crew Cab 4WD $7,173
Dodge Grand Caravan SXT $7,181
Dodge Ram Quad Cab ST 2WD $7,351
Toyota Corolla XLE $7,485
Toyota Camry SE $7,495
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr $7,538
Chevrolet Equinox LTZ AWD $7,540
Jeep Grand Cherokee Limited 4WD $7,549
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Data variables include single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in Toledo, OH location which can decrease or increase premiums considerably.

Looking at the rates, you can conclude that models like the Hyundai Elantra, Ford Escape, Honda CR-V, Honda Accord, and Toyota Prius will definitely be some of the cheaper vehicles to insure for new drivers. The cost of auto insurance will be higher anyway just due to the fact that there is more claim risk for 16 year olds, but generally speaking those models will most likely have the lowest insurance rates compared to other types of vehicles.

Finding decent, cheap car insurance is easier said than done, and finding out which company quotes the best auto insurance rates for 16 year olds requires even more perseverance.

Each auto insurer has their own unique process to determine premium rates, so first we will examine the auto insurance companies that tend to have lower prices in Toledo. It’s a good idea to know that Toledo, OH auto insurance rates are influenced by many factors that control the cost of coverage. This price variation is why it is so important to perform an extensive rate comparison to find affordable auto insurance rates for 16 year olds. Car insurance prices can be determined by many different factors and change frequently, so the most economical option a year ago may now be an over-priced policy.

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Who has the cheapest car insurance in Ohio?
Rank Company Cost Per Year
1 Utica National $654
2 Erie $667
3 Frankenmuth $687
4 Allied $690
5 Travelers $705
6 USAA $733
7 Cincinnati Insurance $749
8 Merchants Insurance Group $755
9 Motorists Mutual $800
10 Grange Mutual $812
11 General Casualty $837
12 Central Mutual $840
13 Hastings Mutual $858
14 State Farm $885
15 Westfield $936
16 Atlantic States $940
17 Western Reserve $961
18 Auto-Owners $968
19 Progressive $982
20 Nationwide $998
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Utica National has some of the lowest car insurance rates in Toledo at around $654 each year. Erie, Frankenmuth, Allied, and Travelers are also some of the best Toledo, OH insurance companies.

As the example above demonstrates, if you are a customer of Allied and switched to Erie, you could see yearly savings of in the vicinity of $23. Drivers with Travelers could save as much as $38 a year, and USAA insureds might lower prices by $66 a year.

Bear in mind that those premium estimates are averaged across all types of insureds and vehicles and do not factor in an exact zip code location for 16 year olds. So the insurer that can offer the best rates for your situation may not even be in the list above. That illustrates why you need to compare as many prices as possible using your own driver and vehicle profiles.

The diagram below highlights how deductible choice can change premium costs when getting quotes for cheap insurance for 16 year olds. The information is based on a single female driver, comp and collision included, and no discounts are taken into consideration.

The chart above illustrates that a 30-year-old driver could lower their policy premium by $246 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $372 by choosing a $1,000 deductible. Young drivers, such as the Age 20 example, can cut $548 every year just by using higher deductibles. If you do decide to increase your deductibles, it is important to have additional funds in a savings account to be able to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.

Ending up with the best car insurance provider can be a challenge considering how many different insurance companies sell coverage in Ohio. The information shown below could help you select which insurers you want to consider when trying to find cheaper insurance for 16 year olds.

These ratings are only made up of companies that insure vehicles across America, so smaller regional companies will not be included in these rankings. If you’d like to compare prices from these companies and more, just click here.

Best Auto Insurance Companies for 16 Year Olds in Toledo
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 99 100 90 92% A++ 97.4
21st Century 89 86 100 88% A 92.7
GEICO 97 91 88 85% A++ 92.5
Nationwide 88 94 91 88% A+ 91.3
AAA Insurance 93 87 88 87% A 90.8
Liberty Mutual 91 91 92 87% A 90.7
Safeco Insurance 90 93 88 86% A 90.2
State Farm 91 94 80 88% A++ 90.2
Travelers 89 91 94 79% A++ 90.1
American Family 88 92 83 88% A 89.4
Titan Insurance 89 91 83 86% A+ 89.3
Allstate 90 90 84 85% A+ 89.1
Progressive 83 85 99 87% A+ 88.7
Erie Insurance 92 90 82 88% A+ 88.5
The Hartford 87 89 84 87% A+ 88
Esurance 84 88 85 83% A+ 86
Farmers Insurance 79 88 84 87% A 84.7
The General 88 80 85 80% A- 84.5
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Data Source: Insure.com Best Car Insurance Companies

The importance of comparing Toledo car insurance rates

Toledo auto insurance rates are calculated based on many things which can substantially decrease or increase your annual premium. Simply getting older, marrying your spouse, or getting a few speeding tickets may cause policy rate changes that can cause some rates to be cheaper than others.

Additionally, companies file new Ohio auto insurance rates every year to adjust for gains or losses. An extended period of higher than normal claims may cause increased policy costs, while profitable underwriting can produce lower-priced Toledo car insurance rates.

The graph below shows rates for the cheapest car insurance in Toledo, OH for a 40-year-old female driver with a clean driving record, no accidents, and a good credit history. If we estimate rates based on her current risk factors, Utica National may have the cheapest car insurance rates in Toledo at $832 per year. This is $208 less than the average premium paid by Ohio drivers of $1,040. Frankenmuth, Erie, Allied, and USAA round out the rest of the top five cheapest Toledo, OH auto insurance companies.

Now we will pretend the driver from above a claim, a little lower credit rating, and an imperfect driving record. Since every insurance provider has their own guidelines to determine rates, analyzing rates most likely will result in a completely different list of affordable Toledo car insurance companies as shown below.

Cincinnati Insurance now has the best insurance rate in Toledo with Merchants Insurance Group, Motorists Mutual, Grange Mutual, and General Casualty also being competitive. This example demonstrates why it is critical to perform a complete rate comparison when trying to get affordable auto insurance rates for 16 year olds.

Prices are made up of many risk factors and can change without notice, so the best company when you bought your policy may now be costing you a lot of money.

Tips to find the cheapest insurance for 16 year olds

It is possible to find better rates, and here are a few thrifty suggestions that can help you locate low-cost coverage.

That last tip is particularly vital, as was noted in this write-up. Prices charged by companies fluctuate considerably, so don’t be hesitant to buy from a different company if a more affordable price is available. Loyalty to a specific company is fine, but is isn’t recommended if that loyalty ends up costing a small fortune year after year. In just a few minutes you could shop around to find cheaper insurance for 16 year olds in Toledo.

If you would rather have a little guidance when shopping around for cheaper insurance for new drivers, the agents listed below can aid you in deciding which coverages are best.

To locate a Toledo car insurance agency nearest to you, click the button following the list.

Powell Insurance Inc
6029 Renaissance Pl # AToledo, OH 43623(419) 882-1076

House of Insurance
5801 Telegraph RdToledo, OH 43612(419) 476-8436

American Family Insurance – Doug Zajac
2119 W Sylvania AveToledo, OH 43613(419) 472-5154

State Farm: Romie Brown
1843 W Alexis Rd #1Toledo, OH 43613(419) 480-1212

Allstate Insurance: William Swade
2114 N Reynolds RdToledo, OH 43615(419) 536-9166

View more Toledo, OH insurance agents