The words “affordable” and “insurance” really should not be used together, in particular when looking for the best car insurance for high mileage drivers. Because of the high cost, let’s introduce you to some of the things that have an effect on auto insurance rates, and see if you can slash the price of the next policy you buy.
Determining which company quotes the most affordable car insurance rates for high mileage drivers calls for a tad more effort than just comparing rates from one or two companies. Every insurance provider uses their own method to determine rates, so let’s rank the most budget-friendly car insurance companies in Ohio.
It’s a good idea to be aware that Toledo, OH car insurance rates are impacted by many things which can significantly increase or decrease the cost of having a policy. Simply having another birthday, moving to a new city, or getting a few speeding tickets may prompt premium changes that can make some companies more affordable than the competition.
Find Cheaper Auto Insurance in Ohio
|Rank||Company||Cost Per Year|
|7||Merchants Insurance Group||$748|
|Get a Custom Quote Go|
Utica National has some of the cheapest car insurance rates in Toledo at around $628 a year. Erie, Frankenmuth, Allied, and USAA are also some of the most economical Toledo, OH car insurance companies.
As shown in the table above, if you have coverage with USAA and switched to Erie, you could see an annual premium reduction of approximately $44. Ohio drivers with Travelers could save as much as $59 a year, and Merchants Insurance Group insureds might see rate reductions of $81 a year.
To find out how your current rates compare, click here to start a quote or quote rates from the companies below.
Understand that those rates are averaged across all insureds and vehicles and and are not figured with a specific zip code for high mileage drivers. So the insurer that fits your situation best may not even be in the top 33 companies in the list above. That point stresses why you need to quote rates from many companies using your own personalized driver profile and vehicle information.
The type of vehicle on the policy is a significant factor when shopping around for low-priced insurance for high mileage drivers. Vehicles with lower performance, modern passenger safety features, or a low likelihood of liability claims will cost substantially less to insure than high performance models.
The next table outlines coverage prices for some of the cheaper vehicles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,355|
|Ford Escape XLT 2WD||$1,486|
|Ford Explorer Eddie Bauer 2WD||$1,520|
|Chevrolet Impala LS||$1,576|
|Volkswagen Jetta S 4-Dr Sedan||$1,607|
|Ford F-150 XLT Crew Cab 4WD||$1,639|
|Ford Focus SES 4-Dr Sedan||$1,662|
|Toyota Tacoma 4WD||$1,672|
|Toyota Camry XLE||$1,694|
|Chevrolet Equinox LTZ AWD||$1,725|
|GMC Sierra SL Crew Cab 2WD||$1,734|
|Toyota RAV4 Limited 4WD||$1,759|
|Honda Civic LX-S 4-Dr Sedan||$1,820|
|Dodge Grand Caravan Crew||$1,851|
|Honda Odyssey EX-L||$1,857|
|Hyundai Elantra SE 4-Dr Sedan||$1,862|
|Ford Edge Limited AWD||$1,857|
|Dodge Ram 2500 Mega Cab Laramie 4WD||$1,870|
|Chevrolet Malibu LTZ||$1,891|
|Toyota Corolla LE||$1,893|
|Jeep Grand Cherokee Limited 4WD||$1,935|
|Nissan Rogue S 2WD||$1,943|
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Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Rate quotes do not factor in specific garaging location which can alter premiums considerably.
Looking at the data, models like the Honda CR-V, Ford Escape, Ford Explorer, Chevrolet Impala, and Volkswagen Jetta are a few of the cheaper vehicles to insure for high mileage drivers.
The example below demonstrates how deductible levels can impact insurance rates when researching cheap insurance for high mileage drivers. The data assumes a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
In the chart above, a 30-year-old driver could cut expenses by $206 a year by increasing from a $100 deductible up to a $500 deductible, or save $312 by using a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, can save as much as $456 every year just by choosing higher deductibles when buying full coverage. When raising deductibles, it will be required to have additional funds in a savings account to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Insuring your vehicle with a good quality insurance provider can be difficult considering how many companies there are in Toledo. The ranking data shown below could help you pick which auto insurance companies you want to consider comparing prices from.
The rankings below are only made up of companies that write coverage in many states, so smaller companies that only insure vehicles in Ohio will not be included in this list. If you would like to check rates from these and other top-rated companies, click this link.
Top 10 Major Auto Insurers in Toledo Ranked by Customer Satisfaction
- USAA – 92%
- Erie Insurance – 88%
- American Family – 88%
- State Farm – 88%
- Nationwide – 88%
- 21st Century – 88%
- AAA Insurance – 87%
- Liberty Mutual – 87%
- Farmers Insurance – 87%
- The Hartford – 87%
Top 10 Major Auto Insurers Overall in Toledo
- 21st Century
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- American Family
Responsible drivers pay cheaper car insurance rates
The obvious way to earn cheap car insurance prices in Ohio for high mileage drivers is to be a careful driver and have a clean driving record. The chart below highlights how speeding tickets and accidents can raise car insurance rates for different age categories. The information is based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are taken into consideration.
The data above shows the average cost of an auto insurance policy per year with a clean driving record and no accidents is $1,200. Factor in one speeding ticket and the average cost surges to $1,352, an increase of $152 each year. Now include two accidents along with the one speeding ticket and the annual cost of car insurance for high mileage drivers jumps again to an average of $2,653. That’s an increase of $1,453, or $121 per month, just for not paying attention while driving!
The benefit of shopping around
Toledo, OH car insurance rates are influenced by many factors that control the cost of your policy. Improving your credit rating, moving across town, or getting a speeding ticket can cause premium changes that can now make some companies more affordable than before.
Not only may things change on your end, but insurers change rates multiple times each year in order to be able to pay unexpected claims. Higher than usual claims can cause higher rates, while profitable underwriting can cause cheaper Toledo car insurance rates.
For example, the chart below demonstrates which company has the cheapest car insurance in Toledo, OH for a 45-year-old female driver with no violations or accidents, and good financial standing. If we estimate rates based on her current risk profile, Utica National quotes the most affordable car insurance rates in Toledo at $825 a year. This is $215 less than the average premium paid by Ohio drivers of $1,040. Allied, Erie, Frankenmuth, and Travelers are the remainder of the cheapest Toledo, OH auto insurance companies.
In the next rate comparison, we’ll give the driver from the above example an accident claim, slightly worse credit, and a couple of points charged on her driving record. Since every car insurance company has their own unique process for establishing rates, analyzing rates most likely will result in a substantially altered list of cheap Toledo auto insurance companies as shown below.
Merchants Insurance Group now has the best car insurance rate in Toledo, OH with Cincinnati Insurance, Grange Mutual, Motorists Mutual, and General Casualty also having competitive pricing. This demonstrates why drivers need to perform a complete rate comparison to get the most budget-friendly auto insurance rates for high mileage drivers. Insurance prices are calculated by many things and can change without notice, so the most economical company the last time you shopped around may now be quite expensive.