What Car Insurance is Cheapest for Young Drivers in Toledo?

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It would sure be easy if we could simply tell you the one auto insurance company that is cheapest in Ohio. It's just not that simple, as there are many unknown aspects like if you are married, if you have points on your license, and the likelihood of vehicle theft where you live, that all have an effect on the price. We will attempt to cover the best ways to avoid high prices and educate you enough to have a solid foundation to find cheaper car insurance in Toledo.

For youthful drivers, one of the big things that determine the price you pay for insurance is your address. Cities with larger populations tend to have more expensive car insurance rates, whereas more rural areas have the benefit of cheaper auto insurance prices.

The next table rates the most costly cities in Ohio for young drivers in which to purchase auto insurance. Toledo is ranked #2 having an annual price of $1,267 for the average insured, which is approximately $106 each month.

How much is car insurance in Toledo?
Rank City Annual Rate
1 Cleveland $1,272
2 Toledo $1,267
3 Youngstown $1,235
4 Cleveland Heights $1,214
5 Cincinnati $1,210
6 Columbus $1,199
7 Euclid $1,164
8 Akron $1,157
9 Hamilton $1,135
10 Dayton $1,108
11 Springfield $1,105
12 Canton $1,091
13 Fairfield $1,063
14 Newark $1,063
15 Middletown $1,055
16 Parma $1,037
17 Strongsville $1,031
18 Lakewood $1,031
19 Mansfield $1,022
20 Kettering $1,020
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Prices are approximated as the specific zip code location can revise rates greatly.

Trying to buy cheap insurance is hard enough, and figuring out which insurers offer the cheapest car insurance rates for young drivers requires even more rate comparisons. Each insurance company has a proprietary formula for determining rates, so let's rank the lowest cost car insurance companies in Toledo.

We do need to point out that Ohio car insurance rates are impacted by many factors that can increase the policy premium. Events like a birthday, buying a different home, or having an at-fault accident can trigger price changes that may make certain companies way too expensive in comparison to the competition.

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Ohio car insurance ranked by cost per year
Rank Company Cost Per Year
1 Utica National $635
2 Erie $681
3 Allied $697
4 Frankenmuth $708
5 USAA $733
6 Travelers $733
7 Cincinnati Insurance $749
8 Merchants Insurance Group $755
9 Motorists Mutual $800
10 General Casualty $805
11 Grange Mutual $812
12 Central Mutual $840
13 Hastings Mutual $866
14 State Farm $894
15 Atlantic States $904
16 Westfield $936
17 Progressive $953
18 Western Reserve $961
19 Auto-Owners $988
20 Nationwide $1,018
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Utica National has some of the cheapest 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 USAA also are some of the more affordable Toledo, OH car insurance companies.

In this example, if you are insured with Erie and switched to Utica National, you could realize annual savings of about $46. Ohio drivers with Allied could save as much as $62 a year, and Frankenmuth policyholders might lower prices by $73 a year.

These policy rates are averaged across all insureds and vehicles and and are not calculated with a vehicle location for young drivers. So the auto insurance company that has the lowest price for you may not even be in the top 33 companies shown above. That underscores the importance of why you need to compare rates from multiple companies using your own driver and vehicle profiles.

The car, truck, or SUV you are insuring is probably the most important factor when comparing the cheapest auto insurance for young drivers. Vehicles with more horsepower, poor safety ratings, or high incidents of liability claims will cost significantly more to insure than more economical and safe models.

The information below features coverage prices for some of the most economical automobiles to insure.

Cheapest Vehicles to Insure in Toledo, OH
Vehicle Insured Estimated Cost for Full Coverage
Ford Escape XLS 2WD $5,769
Honda Accord EX 4-Dr Sedan $5,775
Honda CR-V EX-L 4WD $5,823
Ford F-150 XL Regular Cab 2WD $6,080
Jeep Wrangler Sport 4WD 2-Dr $6,090
Toyota Prius $6,235
Honda Odyssey LX $6,433
Dodge Grand Caravan SE $6,487
Ford Explorer Eddie Bauer 2WD $6,494
Chevrolet Impala LS $6,788
Toyota RAV4 Limited 4WD $6,842
Nissan Altima 2.5 4-Dr Sedan $6,849
Jeep Grand Cherokee Laredo 4WD $6,842
Chevrolet Equinox LT AWD $6,851
Toyota Tacoma Double Cab TRD Sport Package 4WD $6,898
Dodge Ram 3500 Crew Cab Laramie 2WD $6,907
Ford Focus SEL 4-Dr Sedan $7,140
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Above prices assume single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in specific location information which can change premium rates greatly.

Based on these rates, we can tell that models like the Ford Escape, Honda Accord, Honda CR-V, Ford F-150, and Jeep Wrangler are most likely to be a few of the less-costly vehicles to insure for youthful drivers. The cost of auto insurance will tend to be more expensive anyway just because there is more inherent risk for young drivers, but generally speaking those vehicles will have the lowest insurance rates compared to other vehicles.

Price comparison of only insuring for liability

Paying a lower price for car insurance is important to the majority of people, and a good way to find cheap insurance for young drivers is to not pay for full coverage. The illustration below compares insurance costs with full physical damage coverage compared to only buying liability only. The rates are based on no accidents, no driving violations, $100 deductibles, single marital status, and no policy discounts are applied.

On average, physical damage insurance costs $1,308 per year more than buying just liability insurance. That may make you wonder if full coverage is worth the money. There is no exact rule of when to exclude full coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let's assume your vehicle's claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $6,000 after the deductible is paid. If you are currently paying more than $600 annually for your policy with full coverage, then it's probably a good time to buy liability coverage only.

Finding a good quality auto insurance company can be rather challenging considering how many different companies sell coverage in Toledo. The company information displayed below could help you choose which auto insurers to look at purchasing a policy from.

These ratings are only made up of insurance companies that insure vehicles in the majority of U.S. states, so smaller companies that only insure vehicles in Ohio are not factored into this list. If you would like to check rates from these and other top-rated companies, follow this link.

Best 15 Car Insurance Companies for Young Drivers 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
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Data Source: Insure.com Best Car Insurance Companies

How to find cheaper car insurance for young drivers

The list below shows some of the recommended thrifty suggestions that can help Toledo drivers buy lower-cost car insurance.

The last idea is incredibly critical, as was discussed in this article. Coverage rates in Toledo can be modified anytime, so don't be tentative to buy from a different company if you can save money.

We understand brand loyalty, but it isn't a good idea if that loyalty results in overpaying a small fortune year after year. If you have a few minutes, now is a great time to shop around to find cheaper insurance for young drivers.

The insurance agencies listed below can aid you in deciding which policy is best, as many consumers aren't sure which coverage to buy and prefer to have some professional guidance when buying car insurance for youthful drivers. It can be difficult to find the best policy on your own, so getting advice from a licensed agent can bring peace of mind knowing your coverage gives you suitable coverage if you ever need to use it. To locate a Toledo insurance agent closest to you, click the link after the list or click here to compare price quotes now.

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