Who Has the Cheapest Toledo Auto Insurance for a 20 Year Old Male?

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You've seen the commercials from car insurance companies like Nationwide and Progressive promising huge savings, so you just need to pick one randomly, right?

Regrettably, it's not quite that easy, as there are a lot of unknowns like tickets or driving violations, how well you maintain your credit, whether you are single or married, and the amount of liability insurance you need. We will try to teach you about the types of situations that result in high rates and will hopefully give you a good start in finding the cheapest car insurance.

The vehicle needing coverage is probably the largest consideration when comparison shopping for the cheapest auto insurance for 20 year old guys. Vehicles with high performance engines, a lack of safety features, or high incidents of liability claims will cost more to insure than safer, lower-performance models. The next list illustrates coverage rates for a handful of the most budget-friendly vehicles to buy insurance for.

Cheapest Vehicles to Insure in Toledo, OH
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda Accord EX 4-Dr Sedan $3,306
Ford Escape XLS 4WD $3,311
Honda CR-V EX 4WD $3,354
Ford F-150 XL Regular Cab 2WD $3,387
Honda Odyssey LX $3,632
Toyota Prius $3,649
Dodge Grand Caravan CV $3,680
Ford Focus SE 4-Dr Sedan $3,879
Toyota Tacoma 2WD $3,884
Ford Edge Limited 2WD $3,879
Toyota RAV4 Limited 4WD $3,927
GMC Sierra SL Extended Cab 2WD $3,937
Chevrolet Equinox LT AWD $3,927
Ford Explorer Eddie Bauer 4WD $3,975
Hyundai Elantra Blue 4-Dr Sedan $4,126
Toyota Corolla LE $4,174
Chevrolet Impala LTZ $4,181
Toyota Camry XLE $4,174
Nissan Rogue SL 2WD $4,210
Volkswagen Jetta SE 4-Dr Sedan $4,222
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Prices based on single male driver age 20, 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 Toledo, OH garaging location which can lower or raise prices substantially.

By looking at the data, you can infer that cars like the Honda Accord, Ford Escape, Honda CR-V, and Ford F-150 are some of the most affordable vehicles to insure for young men. The price for car insurance will tend to be higher just due to the fact that there is more liability risk for 20 year old guys, but in general those models will have the best rates possible.

One of the many considerations that are looked at to determine car insurance rates is your address in Toledo. Regions with larger populations or more claims are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.

The illustration below sorts the most expensive places in Ohio for 20 year old guys to buy an auto insurance policy in. Toledo is ranked at #1 with the annual price of $1,279 for coverage, which is about $107 per month.

How much does car insurance cost in Toledo, OH?
Rank City Premium Per Year
1 Toledo $1,279
2 Cleveland $1,272
3 Youngstown $1,247
4 Columbus $1,199
5 Cincinnati $1,186
6 Akron $1,169
7 Cleveland Heights $1,166
8 Euclid $1,140
9 Dayton $1,108
10 Hamilton $1,102
11 Newark $1,095
12 Springfield $1,094
13 Middletown $1,066
14 Canton $1,058
15 Beavercreek $1,058
16 Fairfield $1,053
17 Kettering $1,051
18 Lakewood $1,031
19 Mentor $1,018
20 Lorain $1,015
21 Strongsville $1,001
22 Cuyahoga Falls $997
23 Parma $997
24 Elyria $995
25 Mansfield $992
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Rate information is comparative as the specific garaging location can affect premium rates significantly.

Trying to find budget car insurance is easier said than done, and finding out which company offers the cheapest car insurance rates for 20 year old guys calls for additional perseverance. Each auto insurance company has a proprietary method to set their prices, so we'll go over the most affordable car insurance companies in Toledo.

We do need to point out that Ohio car insurance rates are influenced by many factors which can substantially decrease or increase the price you have to pay for coverage. This is why Toledo drivers need to compare rates when trying to find the most budget-friendly auto insurance rates for 20 year old guys. Prices consist of many things and change substantially, so the best option the last time you shopped around may now be wasting a lot of money.

Cheap Insurance Rates for Men Age 20

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Ohio auto insurance company rankings
Rank Company Cost Per Year
1 Utica National $647
2 Erie $661
3 Frankenmuth $687
4 Allied $690
5 Travelers $726
6 USAA $741
7 Merchants Insurance Group $771
8 Cincinnati Insurance $779
9 General Casualty $813
10 Motorists Mutual $824
11 Grange Mutual $836
12 Hastings Mutual $858
13 State Farm $867
14 Central Mutual $874
15 Westfield $908
16 Atlantic States $931
17 Progressive $962
18 Auto-Owners $968
19 Western Reserve $970
20 Farmers $995
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Utica National generally has some of the most affordable car insurance rates in Toledo at around $647 a year. Erie, Frankenmuth, Allied, and Travelers are also some of the most economical Toledo, OH car insurance companies.

As shown in the rates above, if you are insured with Frankenmuth and switched to Utica National, you may see a yearly price reduction of in the neighborhood of $40. Ohio drivers with Allied could save as much as $43 a year, and Travelers customers might reduce prices by as much as $79 a year.

Understand that those policy prices are averages for all drivers and vehicles in Ohio and do not factor in a vehicle location for 20 year old guys. So the auto insurance company that fits your needs best may not even be in the top 33 companies in the list above. That point stresses why you need to get auto insurance quotes using your own driver information and specific vehicle type.

The chart below illustrates how your deductible choice can affect insurance costs when trying to find cheap insurance for 20 year old guys. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no additional discounts are factored in.

The chart above illustrates that a 40-year-old driver could cut expenses by $186 a year by changing from a $100 deductible to a $500 deductible, or save $282 by choosing a $1,000 deductible. Young drivers, like the Age 20 chart data, could reduce their rates $612 each year just by choosing higher deductibles when buying full coverage.

When using a larger deductible, it is important to have enough savings set aside to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

Picking the highest-rated car insurance provider can be a challenge considering how many companies are available to choose from in Toledo. The ranking data in the next section may help you choose which companies you want to consider when looking for cheaper rates. These ratings are only made up of companies who write in the majority of U.S. states, so smaller companies that only insure vehicles in Ohio will not be included in the list.

Toledo, OH Car Insurance Company Rankings
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

Liability only or full coverage

Saving money on car insurance is important to the majority of vehicle owners, and a great way to buy cheap insurance for 20 year old guys is to not pay for full coverage. The information below illustrates the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no additional discounts are factored in.

Averaged for all age groups, full coverage on your policy costs an additional $1,077 per year over and above liability coverage. At some point, every insured wonders if you should buy full coverage at all. There is no clear-cut rule to stop paying for full coverage, but there is a general convention. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.

For example, let's assume your vehicle's replacement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $2,000 after paying your policy deductible. If premium cost is more than $200 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.