I’m sure you’ve seen the captivating ads from insurers like Progressive and GEICO that make claims of the cheapest rates. So you just need to pick the company with the catchiest ad, right?
It’s not that easy, however, as there are many unknown factors like if you own your own home, where you live in Toledo, and if you have ever let your policy lapse, that help determine the price you have to pay. We will try to teach you about the best ways to save money and will hopefully give you a good start to your coverage search.
Trying to buy budget auto insurance is not most people’s favorite thing to do, and figuring out which company offers the cheapest car insurance rates for drivers over age 50 calls for even more shopping around. Every auto insurer uses a slightly different approach for filing rates in each state, so we’ll take a look at the overall cheapest car insurance companies in Toledo, OH.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $654 |
| 2 | Erie | $687 |
| 3 | Allied | $690 |
| 4 | Frankenmuth | $708 |
| 5 | USAA | $711 |
| 6 | Travelers | $712 |
| 7 | Cincinnati Insurance | $756 |
| 8 | Merchants Insurance Group | $778 |
| 9 | Motorists Mutual | $792 |
| 10 | Grange Mutual | $804 |
| 11 | General Casualty | $837 |
| 12 | Central Mutual | $866 |
| 13 | State Farm | $867 |
| 14 | Hastings Mutual | $884 |
| 15 | Atlantic States | $940 |
| 16 | Western Reserve | $941 |
| 17 | Westfield | $946 |
| 18 | Progressive | $962 |
| 19 | Nationwide | $988 |
| 20 | Auto-Owners | $988 |
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Utica National may offer some of the most affordable car insurance rates in Toledo at around $654 a year. Erie, Allied, Frankenmuth, and USAA would also be considered some of the more affordable Toledo, OH auto insurance companies.
In the above rates, if you currently have a policy with USAA and switched to Erie, you might see annual savings of about $24. Drivers with Travelers might save as much as $25 a year, and Cincinnati Insurance insureds might reduce rates by $69 a year.
To find cheaper insurance rates for your vehicle, click here to start your free quote or feel free to get quotes from the companies below.
Bear in mind that those rates are averages across all ages of drivers and types of vehicles and are not factoring in a specific location for drivers over age 50. So the auto insurance company that is best for you may not even be in the top 33 companies shown above. That illustrates why you need to get car insurance quotes using your own driver and vehicle profiles.
One of the many factors that are looked at to determine the price you pay for insurance is where you live in Toledo. Larger areas tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims have the gratification of cheaper auto insurance rates.
The information below sorts the most costly cities in Ohio for drivers over age 50 to buy an auto insurance policy in. Toledo is ranked #2 having an annual price of $1,267 for the average insurance policy, which is around $106 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Cleveland | $1,272 |
| 2 | Toledo | $1,267 |
| 3 | Youngstown | $1,247 |
| 4 | Columbus | $1,211 |
| 5 | Cincinnati | $1,210 |
| 6 | Cleveland Heights | $1,202 |
| 7 | Hamilton | $1,146 |
| 8 | Euclid | $1,129 |
| 9 | Akron | $1,123 |
| 10 | Dayton | $1,108 |
| 11 | Fairfield | $1,095 |
| 12 | Newark | $1,085 |
| 13 | Lakewood | $1,073 |
| 14 | Springfield | $1,061 |
| 15 | Canton | $1,058 |
| 16 | Strongsville | $1,041 |
| 17 | Middletown | $1,035 |
| 18 | Beavercreek | $1,027 |
| 19 | Mentor | $1,018 |
| 20 | Kettering | $1,009 |
| 21 | Parma | $1,007 |
| 22 | Cuyahoga Falls | $1,007 |
| 23 | Mansfield | $1,002 |
| 24 | Elyria | $975 |
| 25 | Lorain | $975 |
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Price information shown is approximated as the specific Toledo residence address can lower or raise auto insurance rates substantially.
The make and model of vehicle you are buying coverage for is one of the largest factors when shopping for the most economical coverage for drivers over age 50. Vehicles with average performance, advanced safety features, or a low likelihood of liability claims will cost quite a bit less to insure than fast, unsafe models. The list below showcases auto insurance costs for a handful of the most cost-effective vehicles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra SE Touring Station Wagon | $1,363 |
| Honda CR-V LX 4WD | $1,442 |
| Ford Escape XLT 2WD | $1,452 |
| Ford Edge Limited 2WD | $1,462 |
| Toyota Tacoma 2WD | $1,467 |
| Chevrolet Equinox LT AWD | $1,490 |
| Dodge Grand Caravan SXT | $1,521 |
| Ford Explorer Eddie Bauer AWD | $1,530 |
| Honda Accord EX 4-Dr Sedan | $1,541 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,544 |
| Toyota Corolla S | $1,566 |
| Chevrolet Impala LTZ | $1,573 |
| Toyota Prius | $1,595 |
| Jeep Grand Cherokee Limited 4WD | $1,597 |
| Honda Odyssey Touring | $1,605 |
| Nissan Rogue S AWD | $1,597 |
| Ford F-150 Lariat Crew Cab Harley 4WD | $1,625 |
| GMC Sierra 3500HD SLE Regular Cab 2WD | $1,634 |
| Honda Civic GX 4-Dr Sedan | $1,645 |
| Ford Focus SES 2-Dr Coupe | $1,673 |
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Rate quotes do not factor in specific garaging location which can affect coverage prices considerably.
Based upon the rates shown, we can tell that cars like the Hyundai Elantra, Honda CR-V, and Ford Escape should be the more affordable vehicles to insure for older drivers.
Discount Toledo insurance
Insurers that offer cheap quotes for drivers over age 50 may additionally offer policy discounts that can reduce rates by 25% or more if you are eligible for them. A list of car insurance companies and a partial list of their discounts are detailed below.
- GEICO offers discounts for anti-lock brakes, defensive driver, daytime running lights, emergency military deployment, and driver training.
- Travelers policyholders can earn discounts including multi-car, driver training, IntelliDrive, payment discounts, hybrid/electric vehicle, early quote, and good student.
- Nationwide discounts include family plan, easy pay, accident-free, anti-theft, good student, business or organization, and Farm Bureau membership.
- Farmers Insurance offers premium reductions for pay in full, multi-car, mature driver, business and professional, youthful driver, homeowner, and electronic funds transfer.
- Esurance may include discounts for good driver, multi-policy, good student, paid-in-full, and homeowner.
- State Farm may have discounts that include Drive Safe & Save, anti-theft, good student, passive restraint, driver’s education, student away at school, and good driver.
- Progressive may offer discounts for multi-policy, multi-vehicle, homeowner, online quote discount, online signing, and continuous coverage.
- Mercury Insurance has savings for good driver, accident-free, location of vehicle, multi-car, professional/association, annual mileage, and type of vehicle.
The example below illustrates the difference between insurance costs with and without discounts. The premiums are based on a male driver, no accidents, no driving violations, Ohio state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with passive restraint, homeowner, marriage, multiple policy, claim-free, and anti-theft discounts applied. When these discounts are applied, theaverage yearly reduction on car insurance for drivers over age 50 is 27% or $323.
Which car insurance company is best in Toledo?
Selecting the right auto insurance company is difficult considering how many choices you have in Ohio. The ranking information listed below could help you choose which auto insurance companies you want to consider when comparing insurance rates for drivers over age 50.
These rankings only include the companies with a significant amount of written premium nationwide, so companies that may only write in Ohio are not included in the list. To get rate quotes from these top-rated insurers and more, simply click here.
Top 10 Large Auto Insurance Providers Overall in Toledo
- USAA
- 21st Century
- GEICO
- Nationwide
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- Travelers
- American Family
How to find cheaper car insurance for drivers over age 50
Here are some thrifty suggestions that can help Ohio drivers find lower-cost auto insurance.
- Be a safe driver
- At-fault accidents will increase rates
- Do not insure for full coverage
- Raise comprehensive and collision coverage deductibles
- Too many claims can make car insurance unaffordable
- Compare prices frequently to find the best deal
The last suggestion is extraordinarily critical, as was discussed in this write-up. Car insurance rates vary considerably, so don’t hesitate to buy from a new company if you can find a cheaper rate.
Brand loyalty is great, but it isn’t a good idea if that loyalty results in overpaying money that could be spent on other things. Take a few minutes and compare prices to find cheaper insurance for drivers over age 50 in Toledo.