It’s well known that insurance companies don’t want policyholders to compare prices from other companies. Consumers who shop around for better prices are highly likely to switch companies because there is a great chance of finding better rates. A recent survey found that consumers who compared rate quotes regularly saved over $70 a month compared to drivers who never compared rates.
If finding budget-friendly car insurance in Toledo is your goal, learning how to shop for insurance rates can make the process less intimidating.
If you want to save the most money, the best way to get affordable Jeep Patriot insurance in Toledo is to regularly compare prices from providers that sell auto insurance in Ohio.
- Step 1: Get an understanding of what is in your policy and the factors you can control to prevent high rates. Many risk factors that cause high rates such as accidents, careless driving, and a lousy credit rating can be remedied by making small lifestyle or driving habit changes. This article provides additional ideas to get better rates and find overlooked discounts.
- Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can give quotes from a single company like Progressive or State Farm, while agents who are independent can provide rate quotes for a wide range of insurance providers. Start a quote
- Step 3: Compare the price quotes to your current policy premium to determine if you can save on Patriot insurance in Toledo. If you can save money and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
- Step 4: Provide notification to your current agent or company to cancel your current policy and submit a down payment along with a signed application to the newly selected company. Immediately upon receiving it, keep your new certificate of insurance somewhere easily accessible.
A good tip to remember is to use similar limits and deductibles on each price quote and and to look at as many carriers as you can. This provides an accurate price comparison and the best price quote selection.
Eight factors that affect insurance costs
Smart consumers have a good feel for a few of the rating criteria that go into determining the level of your policy premiums. If you understand what controls the rates you pay, this enables you to make decisions that can earn you lower rates. Lots of things are part of the calculation when you get a price on insurance. A few of the factors are predictable like an MVR report, but other criteria are less obvious like your continuous coverage and annual miles driven.
The itemized list below are some of the things used by insurance companies to determine your premiums.
High credit saves on auto insurance – Having a bad credit score factor in your rate calculation. Drivers who have excellent credit tend to be better risks to insure as compared to drivers with lower ratings. If your credit score could use some work, you could be paying less to insure your Jeep Patriot by improving your credit score.
You might want pay the small insurance claims yourself – Auto insurance companies in Ohio generally give most affordable rates to people who file claims infrequently. If you frequently file small claims, you can look forward to increased rates or even have your policy non-renewed. Your car insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Bundling policies can get discounts – Most major insurance companies provide better rates to policyholders who consolidate policies with them. It’s known as a multi-policy discount. Even with this discount applied, it’s in your best interest to compare Jeep Patriot rates in Toledo to verify if the discount is saving money.
High premiums for teenage drivers – Young drivers in Ohio are known to be easily distracted when at the wheel of a vehicle therefore auto insurance rates are much higher. Having to add a teenage driver to your auto insurance policy can cause a big jump in price. Older people are more cautious drivers, statistically cause fewer accidents, and get fewer tickets.
The next chart uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
Being married pays dividends – Getting married can actually save you money when shopping for auto insurance. Marriage translates into being more financially stable and statistics show married couples file fewer claims.
No policy lapses lowers auto insurance rates – Driving without insurance is not a good idea and any future policy may cost more because you let your insurance expire. And not only will insurance be more expensive, the inability to provide proof of insurance may earn you fines or a revoked license. You may then have to prove you have insurance by filing a SR-22 with the Ohio motor vehicle department to get your license reinstated.
Don’t skimp on liability – Liability coverage will provide protection if a court rules you are at fault for damages caused by your negligence. It provides for a legal defense which can cost thousands of dollars. It is affordable coverage as compared to coverage for physical damage, so do not cut corners here.
Your stress level may be raising your rates – Occupations like judges, architects, and emergency personnel generally pay higher rates than the rest of us due to job stress and extremely grueling work hours. On the other hand, occupations such as professors, students and performers get better rates.
Insurance loss probability for a Jeep Patriot – Insurance companies analyze historical claim data to calculate a rate that offsets possible losses. Models that the statistics show to have increased losses will cost more for specific coverages.
The information below illustrates the insurance loss data for Jeep Patriot vehicles. For each coverage category, the claim probability for all vehicles averaged together is represented as 100. Numbers under 100 imply a favorable loss record, while values that are 100 or greater point to more losses or statistically larger claims.
|Specific Jeep Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Jeep Patriot 4dr 2WD||80||139||65||123||121||140|
|Jeep Patriot 4dr 4WD||73||121||67||98||100||111|
Statistics from IIHS.org for 2013-2015 Model Years
Rates and data analysis
The table displayed next outlines different insurance coverage prices for Jeep Patriot models. Learning a little about how premiums are figured can benefit drivers when making decisions on the best policy coverages.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Patriot Sport 2WD||$140||$224||$234||$14||$70||$682||$57|
|Patriot Sport 4WD||$140||$224||$234||$14||$70||$682||$57|
|Patriot Limited 2WD||$160||$272||$234||$14||$70||$750||$63|
|Patriot Limited 4WD||$160||$272||$234||$14||$70||$750||$63|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Table data does not factor in specific location information which can modify prices considerably.
How careless driving impacts Toledo auto insurance rates
The example below shows how traffic citations and at-fault accidents can drive up Jeep Patriot auto insurance costs for each age group. The premium estimates are based on a single female driver, comp and collision included, $100 deductibles, and no discounts are applied.
Jeep Patriot liability-only versus full coverage
The information below shows the difference between Jeep Patriot annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no other discounts are factored in.
Should you buy full coverage or liability only?
There is no exact rule for dropping comp and collision coverage, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Jeep Patriot replacement cost is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,000 after you pay the deductible. If it’s costing in excess of $400 a year to have full coverage, then it could be time to drop full coverage.
There are some cases where removing full coverage is not advised. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not eliminate full coverage.
Discounts for affordable car insurance rates
Companies offering auto insurance don’t list the entire discount list very well, so we break down some of the best known as well as the least known savings tricks you should be using when you buy Toledo car insurance online.
- Government Employee Discount – Federal government employees may qualify for a discount when you quote Toledo car insurance depending on your company.
- Good Driver Discounts – Drivers who avoid accidents can pay as much as 50% less compared to rates paid by drivers with frequent claims.
- Telematics Data Discounts – Insureds who allow driving data collection to scrutinize driving patterns by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm could see a rate decrease as long as the data is positive.
- Driver Training Discounts – Taking part in a class that teaches driver safety techniques could cut 5% off your bill and easily pay for the cost of the class.
- Use Seat Belts – Drivers who require all occupants to buckle up may be able to save a few bucks off the personal injury premium cost.
A little note about advertised discounts, some credits don’t apply to your bottom line cost. Some only apply to the cost of specific coverages such as collision or personal injury protection. Just because you may think you could get a free car insurance policy, companies don’t profit that way.
The information below compares Jeep Patriot insurance prices with and without discounts applied to the policy rates. The prices are based on a male driver, no violations or claims, Ohio state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, claim-free, marriage, safe-driver, and homeowner discounts applied.
Large car insurance companies and their possible discounts are:
- State Farm includes discounts for accident-free, Steer Clear safe driver discount, anti-theft, student away at school, driver’s education, and good student.
- Progressive may include discounts for multi-vehicle, good student, online quote discount, continuous coverage, multi-policy, homeowner, and online signing.
- Travelers offers discounts for IntelliDrive, continuous insurance, multi-policy, student away at school, good student, and driver training.
- American Family may have discounts that include air bags, accident-free, TimeAway discount, multi-vehicle, defensive driver, and bundled insurance.
- Liberty Mutual may offer discounts for hybrid vehicle, exclusive group savings, newly retired, preferred payment discount, and new graduate.
If you need lower rates, check with each insurance company the best way to save money. Depending on the company, some discounts may not apply in every state. If you would like to see a list of companies that offer discounts in Ohio, follow this link.
Ohio auto insurance company ratings
Finding the top insurer can be rather challenging considering how many companies sell insurance in Ohio. The company information below may help you decide which providers to look at when shopping your coverage around.
Top 10 Toledo Car Insurance Companies Overall
- 21st Century
- AAA Insurance
- Liberty Mutual
- Safeco Insurance
- State Farm
- American Family
Find cheaper rates by being thorough
As you prepare to switch companies, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many cases, an insured cut comprehensive coverage or liability limits and learned later that a couple dollars of savings turned into a financial nightmare. Your aim should be to buy the best coverage you can find at an affordable rate, but do not sacrifice coverage to save money.
Some insurance providers do not offer online rate quotes and these regional carriers only sell coverage through local independent agencies. Lower-priced Jeep Patriot insurance in Toledo is definitely available online in addition to local insurance agencies, and you need to price shop both in order to have the best chance of saving money.
Additional auto insurance information can be found on the following sites:
- Property Damage Coverage (Liberty Mutual)
- What Car Insurance is Cheapest for a Hyundai Sonata in Toledo? (FAQ)
- What is Gap Insurance? (Insurance Information Institute)
- Rollover Crash FAQ (iihs.org)