Did a good deal turn into high-priced insurance? It’s quite common and there are lots of Toledo residents who feel the same.
A study showed that about 70% of customers have remained with the same insurance company for well over three years, and almost half have never even compared quotes to find affordable rates. Drivers in Ohio could save up to $730 every year, but they don’t understand how simple it is to find affordable insurance rates. Insurance companies such as GEICO, Farmers Insurance and State Farm all promote huge savings with TV and radio ads and it is challenging if not impossible to see past the geckos and flying pigs and find the best price available.
If you have insurance now or want to find a cheaper company, you can learn to get lower rates without having to cut coverage. Locating the best rates in Toledo can be made easier if you know where to look. Drivers just have to learn the most efficient way to find the lowest price instantly.
Finding a lower price on insurance is a fairly straight forward process. Just spend a few minutes on the computer comparing rates online from several insurance companies.
Doing price comparisons online is so simple that it replaces the need to waste gas driving to insurance agencies in your area. The internet eliminates this option unless you require the professional advice that only an agent can give. Some companies do allow you to price shop your coverage online but still have the advice of a local Toledo agent.
The companies shown below are our best choices to provide price comparisons in Toledo, OH. If your goal is to find the best cheap auto insurance in OH, we suggest you visit two to three different companies in order to get a fair rate comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LS Regular Cab 2WD||$526||$263||$44|
|Dodge Ram Quad Cab SLT 2WD||$576||$288||$48|
|Ford Escape XLS 4WD||$444||$222||$37|
|Ford F-150 XL Regular Cab 2WD||$462||$231||$39|
|Ford Focus SE 2-Dr Coupe||$594||$297||$50|
|GMC Sierra SLE Crew Cab 2WD||$566||$283||$47|
|Honda Accord EX 4-Dr Sedan||$444||$222||$37|
|Honda CR-V LX 4WD||$444||$222||$37|
|Honda Civic EX-L 2-Dr Coupe||$656||$328||$55|
|Hyundai Sonata Limited 4-Dr Sedan||$604||$302||$50|
|Jeep Grand Cherokee Limited 4WD||$566||$283||$47|
|Kia Optima SX||$604||$302||$50|
|Mazda 3 S Sport 4-Dr Hatchback||$566||$283||$47|
|Nissan Altima 2.5 S 4-Dr Sedan||$556||$278||$46|
|Toyota Camry Hybrid||$604||$302||$50|
|Toyota Corolla XLE||$556||$278||$46|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$538||$269||$45|
|Get Rate Quotes for Your Vehicle Go|
Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Rates do not factor in specific location which can raise or lower coverage rates substantially.
Don’t overlook these six insurance discounts
Car insurance companies do not list the entire discount list very clearly, so the following is a list of some of the best known and also the more inconspicuous discounts that may be available.
- Telematics Data – Toledo drivers who agree to allow driving data submission to track when and where they use their vehicle by installing a telematics device such as Drivewise from Allstate or Snapshot from Progressive could see a rate decrease if they exhibit good driving behavior.
- Passive Restraints and Air Bags – Vehicles with factory air bags and/or automatic seat belt systems can receive discounts of more than 20%.
- Driver Training Discounts – Taking part in a driver safety course may get you a small discount depending on where you live.
- Multi-car Discount – Drivers who insure multiple cars or trucks with one company can get a discount on all vehicles.
- Resident Student – Kids who are attending college and leave their car at home can receive lower rates.
- Anti-lock Brake System – Cars, trucks, and SUVs with anti-lock braking systems can avoid accidents and therefore earn up to a 10% discount.
You should keep in mind that some credits don’t apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like physical damage coverage or medical payments. If you do the math and it seems like having all the discounts means you get insurance for free, you won’t be that lucky.
Larger insurance companies and their possible discounts are shown below.
- Progressive discounts include good student, continuous coverage, multi-vehicle, multi-policy, and online quote discount.
- MetLife may have discounts that include multi-policy, good driver, defensive driver, claim-free, good student, accident-free
- Mercury Insurance offers discounts for type of vehicle, multi-policy, ease of repair, low natural disaster claims, and good student.
- Nationwide has savings for Farm Bureau membership, family plan, easy pay, accident-free, anti-theft, and business or organization.
- GEICO has discounts for anti-theft, daytime running lights, seat belt use, multi-policy, air bags, membership and employees, and defensive driver.
- AAA may include discounts for pay-in-full, anti-theft, AAA membership discount, multi-policy, and multi-car.
Before purchasing a policy, check with every prospective company which discounts you qualify for. Discounts may not apply to policyholders in Toledo. To see insurers that offer some of these discounts in Toledo, click here to view.
Compare rates but buy from a neighborhood Toledo auto insurance agent
Some consumers would rather buy from a licensed agent and that is recommended in a lot of cases Professional insurance agents can help you choose the best coverages and will help you if you have claims. The best thing about comparing auto insurance online is that drivers can save money and get the lowest rates and still choose a local agent.
After completing this simple form, your information is immediately sent to insurance agents in Toledo who will return price quotes for your insurance coverage. There is no reason to even leave your home because prices are sent immediately to you. In the event you want to compare prices for a specific company, you would need to search and find their rate quote page and complete a quote there.
Selecting a insurer shouldn’t rely on just a cheap quote. Any agent in Toledo should be forthright in answering these questions:
- Is the coverage adequate for your vehicle?
- Are aftermarket or OEM parts used to repair vehicles?
- How would your car be valued if totaled?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Will your rates increase after a single accident?
- Will their companies depreciate repairs to your car based on the mileage?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Is insurance their full-time profession?
If you prefer to buy auto insurance from a good Toledo insurance agent, there are a couple of different types of agents and how they can service your needs differently. Agents in Toledo are considered either exclusive agents or independent agents. Both types can write policy coverage, but it’s worth mentioning the difference between them since it could factor into your selection of an agent.
Exclusive Insurance Agencies
Exclusive agents are contracted to one company and examples are Farmers Insurance, State Farm, Allstate, and AAA. They generally cannot place coverage with different providers so it’s a take it or leave it situation. Exclusive agents are well trained on their company’s products which helps them sell insurance even at higher premiums.
Listed below is a short list of exclusive agents in Toledo who may provide you with price quotes.
Independent Auto Insurance Agencies
Agents of this type are not restricted to one company so they can insure your vehicles through many companies and find the cheapest auto insurance rates. If you are not satisfied with one company, they simply switch companies in-house which makes it simple for you.
When comparing rate quotes, we recommend you get rate quotes from several independent agencies to get the most accurate price comparison.
Shown below are Toledo independent insurance agents who can help you get rate quotes.
Auto insurance protects more than just your car
Despite the fact that auto insurance is not cheap in Toledo, maintaining insurance serves a purpose in several ways.
- Just about all states have mandatory liability insurance requirements which means you are required to carry a specific level of liability insurance in order to be legal. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your vehicle has a lienholder, more than likely the lender will require you to have comprehensive coverage to guarantee payment of the loan. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your vehicle at a much higher rate and force you to pay for it.
- Insurance protects both your vehicle and your assets. Insurance will also pay for many types of medical costs that are the result of an accident. Liability coverage, the one required by state law, also covers legal expenses if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of insuring your vehicle definitely exceed the cost, especially with large liability claims. An average driver in America overpays more than $800 each year so you should quote rates at every renewal to make sure the price is not too high.
Detailed coverages of your auto insurance policy
Having a good grasp of your policy can be of help when determining which coverages you need and the correct deductibles and limits. Auto insurance terms can be confusing and even agents have difficulty translating policy wording. These are the normal coverages offered by auto insurance companies.
Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage kick in for short-term medical expenses for things like chiropractic care, nursing services and doctor visits. The coverages can be used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
Comprehensive insurance – This coverage covers damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers things like hitting a bird, fire damage, damage from getting keyed, a tree branch falling on your vehicle and rock chips in glass. The highest amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Collision – Collision coverage covers damage to your vehicle caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims like sideswiping another vehicle, hitting a mailbox, driving through your garage door and rolling your car. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. You can also choose a higher deductible to save money on collision insurance.
Liability insurance – This will cover damage that occurs to other’s property or people that is your fault. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 which means a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.
Liability coverage pays for things like repair costs for stationary objects, repair bills for other people’s vehicles and bail bonds. How much liability should you purchase? That is up to you, but you should buy as high a limit as you can afford. Ohio state law requires minimum liability limits of 25/50/25 but you should consider buying more liability than the minimum.
The next chart shows why low liability limits may not provide adequate coverage.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your vehicle.
Since a lot of drivers only carry the minimum required liability limits (25/50/25 in Ohio), their limits can quickly be used up. So UM/UIM coverage is a good idea.
Find cheap rates by comparing often
As you restructure your insurance plan, make sure you don’t sacrifice coverage to reduce premiums. In many instances, someone sacrificed collision coverage and discovered at claim time they didn’t purchase enough coverage. Your goal is to buy the best coverage you can find for the lowest price, not the least amount of coverage.
There are still a few companies who may not have the ability to get a quote online and most of the time these small insurance companies only sell through independent agents. Budget-friendly auto insurance in Toledo can be sourced on the web and from local insurance agents, so compare prices from both to get a complete price analysis.
How to quote cheaper car insurance in Toledo
If your goal is the lowest price, then the best way to quote cheaper car insurance rates is to start comparing rates regularly from different companies that insure vehicles in Toledo. Price quotes can be compared by following these steps.
- Try to learn a little about car insurance and the modifications you can make to keep rates down. Many factors that cause high rates like inattentive driving and bad credit can be eliminated by making minor driving habit or lifestyle changes.
- Request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO and State Farm, while agents who are independent can provide prices from multiple companies.
- Compare the quotes to your existing coverage to determine if you can save on insurance in Toledo. If you can save money, make sure coverage is continuous and does not lapse.
- Tell your current agent or company to cancel your existing policy and submit payment and a signed application to your new insurance company. When you receive it, place the new certificate verifying proof of insurance in your vehicle.
A valuable tip to remember is that you’ll want to compare the same amount of coverage on each quote request and and to get rates from as many companies as feasibly possible. This enables a level playing field and a thorough selection of prices.
More information is available at these links:
- Car Insurance FAQ (Trusted Choice)
- What Car Insurance is Cheapest for 16 Year Olds in Toledo? (FAQ)
- How Much are Auto Insurance Rates for a Toyota Tundra in Toledo? (FAQ)
- Who Has Affordable Toledo Car Insurance for Seniors? (FAQ)
- Who Has Affordable Auto Insurance for Electric Cars in Toledo? (FAQ)
- Alcohol Impaired Driving FAQ (iihs.org)
- Your Car has been Stolen: Now What? (Allstate)