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Are you at wits end from wondering where the money will come from to pay your auto insurance bill each month? You are in the same boat as many other Ohio consumers.
It's an obvious conclusion that insurance companies don't want policyholders to shop around. Drivers who get comparison quotes once a year will, in all likelihood, switch to a new company because of the good chance of finding more affordable rates. A study discovered that drivers who faithfully checked for cheaper rates saved about $72 a month compared to those who never compared other company's rates.
If finding the cheapest price for insurance in Toledo is the reason you're reading this, then having an understanding of the best ways to shop for auto insurance can make the process more efficient. Online insurance companies like Allstate, Progressive and GEICO persitently shower you with catchy ads and it is challenging if not impossible to not get sucked in by the cute commercials and find the best price available.
The companies shown below provide quotes in Toledo, OH. In order to find the best auto insurance in Toledo, we recommend you get price quotes from several of them in order to get a fair rate comparison.
You may qualify for discounts for Kia Optima insurance in Toledo
Companies do not list the complete list of policy discounts in an easy-to-find place, so here is a list some of the best known as well as some of the hidden credits that may apply to you. If you do not check that you are getting every discount available, you are throwing money away.
- Government Employees - Active or former government employment could provide a small rate reduction with some auto insurance companies.
- Telematics Discount - Drivers who elect to allow driving data submission to scrutinize driving manner remotely such as Snapshot from Progressive or Drivewise from Allstate could possibly reduce rates as long as the data is positive.
- Early Signing - A few companies give discounts for signing up before your current Optima insurance policy expires. It's a savings of about 10%.
- Discount for Home Ownership - Simply owning a home may trigger a policy discount on auto insurance because maintaining a house shows financial diligence.
- Membership in Organizations - Being a member of certain professional organizations could earn you a nice discount on your policy.
- Save over 55 - Older drivers may be able to get a discount up to 10%.
- Defensive Driver - Passing a driver safety course could save 5% or more if your company offers it.
- Responsible Drivers - Insureds who avoid accidents may receive a discount up to 45% compared to accident prone drivers.
- Driver's Education for Students - Require your teen driver to participate in a local driver's education class as it can save substantially.
- Life Insurance - Some insurance companies give a discount if you purchase a life insurance policy as well.
It's important to note that most of the big mark downs will not be given to the overall cost of the policy. Most only reduce specific coverage prices like physical damage coverage or medical payments. So when it seems like it's possible to get free car insurance, companies don't profit that way.
The information below illustrates the difference between Kia Optima auto insurance rates with and without discounts applied to the policy premium. The prices are based on a male driver, no violations or accidents, Ohio state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, safe-driver, claim-free, multi-policy, and homeowner discounts applied.
Car insurance companies who might offer some of the above discounts include:
Before buying, ask every company how many discounts you can get. All car insurance discounts might not be offered on policies in every state. To locate insurance companies who offer free Kia Optima insurance quotes in Toledo, click here to view.
Car insurance statistics and figures
The rate information displayed next showcases different coverage prices for Kia Optima models. Understanding how auto insurance premiums are established can help guide drivers when making smart choices when comparing insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Estimates do not factor in garaging location in Toledo which can decrease or increase coverage prices noticeably.
Full coverage or liability only
The chart below compares Kia Optima yearly insurance costs with full coverage compared to only the Ohio minimum liability coverage. Data assumes no violations or claims, $1,000 deductibles, single marital status, and no other discounts are factored in.
Guidelines for eliminating full coverage
There isn't a written rule to eliminate physical damage coverage, but there is a broad guideline. If the yearly cost of full coverage is more than about 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let's say your Kia Optima replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $2,000 after paying the physical damage deductible. If you are paying over $200 annually for full coverage, then it might be time to buy liability only.
There are a few cases where only buying liability is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
Why You Might Pay Lower Rates in Toledo
The best way to find cheaper insurance is to take a look at the rating factors that come into play when calculating the rates you pay for insurance. When consumers understand what determines premiums, this helps enable you to make changes that will entitle you to cheaper rates. Many factors are part of the equation when you get your auto insurance bill. Some factors are common sense like an MVR report, but some are not as apparent such as your credit history and annual miles driven.
- When should you not file claims? - Insurance companies in Ohio generally give most affordable rates to insureds who do not rely on their insurance for small claims. If you file claims often, you can pretty much guarantee either policy cancellation or increased premiums. Your insurance policy is intended for claims that you cannot pay yourself.
- Insurance policy lapses lead to higher premiums - Not having insurance is against the law and insurance companies will penalize you for letting your insurance lapse for non-payment. Not only will rates go up, getting caught without coverage may result in fines and jail time. You may then have to prove you have insurance by filing a SR-22 with the Ohio motor vehicle department.
Poor driving means higher prices - Even a single driving citation could increase your next policy renewal to the point where it's not affordable. Good drivers receive lower rates compared to drivers with tickets. Drivers who have received careless tickets like DUI or reckless driving may find they need to file a SR-22 with their state's department of motor vehicles in order to legally drive a vehicle.
The illustration below demonstrates how citations and accident claims can affect Kia Optima auto insurance costs for each different age category. The rate quotes are based on a single male driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.
- Save by driving cars with good safety ratings - Safe vehicles tend to have lower insurance rates. Highly rated vehicles reduce the chance of injuries and lower rates of occupant injuries translates into savings for insurance companies which can result in lower premiums. If the Kia Optima is rated at a minimum four stars on Safercar.gov it may cost less to insure.
- Multiple policies with one company - Lots of insurance companies apply lower prices to policyholders that buy multiple policies in the form of a multi-policy discount. This can amount to ten or even fifteen percent. Even with this discount, consumers should still compare other company rates to verify if the discount is saving money. It's possible to still find better rates by buying from different companies
- Policy add-ons can waste money - There are quite a few additional coverages you can purchase on your Optima policy. Things like replacement cost coverage, towing, and additional equipment coverage are examples of these. The coverages may be enticing at first, but your money might be better spent on other coverage so eliminate them to save money.
Which gender costs less? - Statistics have proven women tend to be less risk to insure than men. The data does not necessarily mean that men are worse drivers. Both sexes are in auto accidents at a similar rate, but men tend to have higher claims. They also get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly.
The diagram below shows the comparison of Kia Optima yearly insurance costs for male and female drivers. The premiums assume no claims or driving citations, comp and collision included, $250 deductibles, marital status is single, and no policy discounts are applied.
Kia Optima statistical loss data - Insurance companies use historical loss data when setting premium costs. Models that statistically have higher losses will have higher rates for specific coverages. The next table shows the actual insurance loss data for Kia Optima vehicles.
For each policy coverage type, the loss probability for all vehicles, as an average, is represented as 100. Numbers below 100 suggest a positive loss record, while values over 100 indicate more frequent claims or larger claims.
Kia Optima Insurance Claim Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Kia Optima 115 101 107 133 142 120 Kia Optima Hybrid 143 115 116 139 158 151BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Local Toledo auto insurance agents
Some consumers would prefer to sit down and talk to an agent and that is a personal choice. Experienced insurance agents can make sure you are properly covered and help in the event of a claim. One of the best bonuses of comparing rates online is that drivers can save money and get lower rates and still have a local agent. And providing support for neighborhood agents is still important in Toledo.
After filling out this quick form, the quote information is emailed to local insurance agents who will gladly provide quotes for your business. You never need to contact any agents as quotes are delivered to the email address you provide. If for some reason you want to quote rates from a specific company, just navigate to their website and submit a quote form there.
Finding the right provider is decision based upon more than just a cheap price quote. You should also get answers to these questions.
- Does the agent have a valid license to sell insurance in Ohio?
- Will they take your side in the event of a claim?
- If you have an accident, will your rates go up?
- What is their Better Business Bureau rating?
- When do they do a full risk review?
- Is there a local claims center in Toledo?
- What insurance company do they write the most business with?
- Will the quote change when the policy is issued?
When in doubt talk to an agent
Always remember that when buying coverage online or from an agent, there is no cookie cutter policy. You are unique so this has to be addressed. For instance, these questions may help you determine if you would benefit from professional advice.
- When do I need to add a new car to my policy?
- Is rental equipment covered for theft or damage?
- Can I pay claims out-of-pocket if I buy high deductibles?
- Do I benefit by insuring my home with the same company?
- Should I buy full coverage?
- When would I need rental car insurance?
- Should I drop comprehensive coverage on older vehicles?
- Is upholstery damage covered by car insurance?
- Is my business laptop covered if it gets stolen from my vehicle?
- Is a blown tire covered by insurance?
If you're not sure about those questions but you know they apply to you then you might want to talk to a licensed agent. To find an agent in your area, complete this form or you can also visit this page to select a carrier It is quick, free and can provide invaluable advice.
Don't give up on cheaper rates
A few companies may not provide the ability to get quotes online and these smaller companies only sell coverage through independent agents. Cheap Kia Optima insurance in Toledo is attainable online and from local agencies, and you should be comparing both in order to have the best chance of saving money.
We've covered a lot of techniques to find lower-cost Kia Optima insurance in Toledo. It's most important to understand that the more times you quote, the more likely it is that you will get a better rate. Drivers may even discover the most savings is with a company that doesn't do a lot of advertising. Regional companies may only write in your state and offer lower car insurance rates than the large multi-state companies such as Progressive or GEICO.
How to find more affordable Kia Optima insurance in Toledo
The easiest way to get affordable car insurance rates in Toledo is to compare quotes annually from insurers who provide car insurance in Ohio.
- Take a few minutes and learn about individual coverages and the changes you can make to prevent expensive coverage. Many risk factors that cause high rates such as speeding and a negative credit score can be improved by being financially responsible and driving safely.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agencies can provide price quotes from multiple sources.
- Compare the price quotes to the price on your current policy and determine if cheaper Optima coverage is available in Toledo. If you find a lower rate, ensure coverage does not lapse between policies.
- Notify your current company to cancel your current coverage and submit payment along with a signed and completed policy application to your new agent or company. Make sure you place your new certificate verifying proof of insurance with your vehicle's registration.
The key aspect of shopping around is to try to compare similar deductibles and liability limits on each price quote and and to get price quotes from all possible companies. Doing this ensures a level playing field and the best price selection.
Additional detailed information is located by following these links:
- State Laws for Cellphones and Texting (iihs.org)
- Who Has the Cheapest Toledo Car Insurance Rates for Good Students? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for 17 Year Olds in Toledo? (FAQ)
- Drunk Driving Statistics (Insurance Information Institute)
- Car Insurance: When not to Skimp (BankRate.com)
- Property Damage Coverage (Liberty Mutual)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)