One of the many things that help determine the annual cost of car insurance is your zip code in Toledo. Cities with more crime and/or more people tend to pay more, whereas less populated areas benefit from lower rates.
The illustration below lists the most costly cities in Ohio for teenagers to buy auto insurance in. Toledo makes the list at #2 having an annual price of $1,267 for the average insurance policy, which is about $106 each month.
|Rank||City||Premium Per Year|
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Annual rates are approximated as specific Toledo garaging address can modify prices greatly.
The make and model of vehicle needing coverage is probably the biggest factor when consumers are trying to find the most affordable car insurance for teenagers. Vehicles with more horsepower, poor passenger safety features, or an increased likelihood of liability claims will cost significantly more to insure than more modest models.
The information below estimates car insurance premiums for a handful of the most economical vehicles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$5,525|
|Ford Escape Limited 2WD||$5,535|
|Ford F-150 XL Super Cab 4WD||$6,129|
|Jeep Wrangler Sahara 4WD 2-Dr||$6,138|
|Toyota Tacoma 4WD||$6,129|
|Dodge Grand Caravan SE||$6,134|
|Ford Edge Limited 2WD||$6,428|
|Toyota RAV4 Sport 2WD||$6,486|
|Jeep Grand Cherokee Laredo 2WD||$6,492|
|Chevrolet Equinox LS AWD||$6,486|
|Chevrolet Impala LT||$6,496|
|Ford Explorer Eddie Bauer AWD||$6,541|
|Ford F-350 XL Super Cab 2WD||$6,598|
|Ford Focus SEL 4-Dr Sedan||$6,785|
|Honda Civic VP 4-Dr Sedan||$6,793|
|Toyota Camry SE||$6,842|
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Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in your specific Toledo, OH location which can change coverage rates noticeably.
Looking at the rates, you can figure that models like the Honda CR-V, Ford Escape, Toyota Prius, and Ford F-150 are most likely going to be a few of the cheaper vehicles to insure for teen drivers. The cost of a car insurance policy will tend to be higher just because there is more exposure for teenagers, but generally speaking those particular models will have the best insurance prices that you’ll find.
The example below demonstrates how choosing different deductibles can affect insurance rates when quoting cheap insurance for teenagers. The data is based on a single female driver, full coverage, and no other discounts are factored in.
In the chart above, a 50-year-old driver could pocket $242 a year by increasing from a $100 deductible to a $500 deductible, or save $366 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old category, could reduce their rates up to $624 or even more just by using higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is a good idea to have enough spare savings to enable you to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.
What is the best insurance company in Ohio?
Buying coverage from a high-quality auto insurance provider can be difficult considering how many companies provide coverage in Toledo. The company rank data in the lists below may help you choose which car insurance providers to look at putting your business with.
The ratings below are only made up of companies that insure vehicles nationwide, so smaller companies that only insure vehicles in Ohio are not included in the list. To compare prices and find the cheapest rates for teenagers, just click here.
Top 10 Large Auto Insurance Providers in Toledo Ranked by Customer Service
- State Farm
- Safeco Insurance
- American Family
- Titan Insurance
- Liberty Mutual
- Erie Insurance
Top 10 Large Auto Insurance Providers in Toledo Ranked by Claims Service
- Liberty Mutual
- AAA Insurance
- Safeco Insurance
- The General
Why are you paying too much for Toledo car insurance?
Toledo, OH insurance rates are impacted by many things that control the policy premium. Simply getting older, getting divorced, or having an accident may prompt premium changes that can now make some companies cheaper than before.
Not only may your risk profile change, but auto insurance companies change prices as often as every three months to ensure their profitability. An unexpected high level of claims may cause increased rates, while long-term profits may result in cheaper Toledo car insurance rates.
To illustrate this point, the chart below shows the companies that have the cheapest car insurance in Toledo, OH for a 30-year-old female driver with a good driving record, no prior claims, and solid credit. If we look at prices based on her personal risk profile, Utica National may offer the most affordable car insurance rates in Toledo at $858 annually. This is $182 less than the average premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers are the rest of the cheapest Toledo, OH auto insurance companies.
Now let’s give the driver from the first example a claim, a little lower credit rating, and a speeding ticket. Since each auto insurance company has a different process to set premium rates, comparing insurance quotes may now result in a substantially altered list of the cheapest companies as shown below.
Merchants Insurance Group now has the best price in Toledo, OH with Cincinnati Insurance, Grange Mutual, General Casualty, and Motorists Mutual now being in the top five. This example illustrates why it is crucial to perform an extensive rate comparison when trying to find affordable insurance quotes for teenagers.
Rates consist of many risk factors and change frequently, so the most economical company the last time you shopped around may now cost much more than other companies.
If you aren’t sure which coverage to buy and prefer to get some professional input when shopping for the best coverage for teenagers, the insurance agencies listed below are willing to help you decide which coverage fits your budget.
To find a Toledo insurance agent in your neighborhood, click the link after the list or click here to compare price quotes.
Gus Badra Insurance Agency
3454 Oak Alley Court, Suite 106 A, Toledo 43606 – Suite 106 A, OH 43606 – (419) 469-5522
D and R Insurance Inc
240 S Reynolds Rd – Toledo, OH 43615 – (419) 535-5600
Farmers Insurance – Nicholas Chupp
2338 W Laskey Rd – Toledo, OH 43613 – (419) 861-3412
Allstate Insurance: Jennifer Soda Zielinski
2509 W Sylvania Ave Ste 12 – Toledo, OH 43613 – (419) 472-9690
How to find more affordable auto insurance for teenagers
Lowering your rates is not difficult, and here are some of the better thrifty suggestions that can help Toledo drivers find low-cost car insurance.
- Good credit scores may make rates cheaper
- On older vehicles, drop full coverage
- Save money by bundling your home and auto policies
- Lower rates by purchasing a safer vehicle
- Raise deductibles
- Claim-free drivers earn discounts
- Check for cheaper rates once a year
That last piece of advice is notably necessary, as was stressed in the prior article. Coverage rates go up and down frequently, so don’t be tentative to buy from a new company if you find a better deal. We understand brand loyalty, but we do not recommend it if your bullheadedness ends up costing you money that could be spent on other things. It takes less than five minutes to shop around to find cheaper auto insurance for teenagers in Toledo.