Want to learn how to find cheaper car insurance rates in Toledo, OH? Toledo consumers have a choice when looking for low-cost Tesla Model S insurance. They can either spend hours calling around to get rate comparisons or use the internet to get rate quotes.
There are more efficient ways to buy car insurance so you’re going to learn the proper way to quote coverages for a Tesla and find the lowest price from both online companies and Toledo agents.
It’s safe to assume that auto insurance companies don’t want you to compare rates. Consumers who shop around for cheaper prices will probably move their business because they have a good chance of finding a lower-priced policy. A recent survey revealed that drivers who compared price quotes annually saved an average of $3,500 over four years compared to other drivers who never compared prices.
If finding the lowest rates on auto insurance in Toledo is the reason for your visit, then learning about how to shop and compare insurance can help you be more efficient.
The best way to compare policy rates for Tesla Model S insurance in Toledo is to realize car insurance companies participate in online systems to quote your coverage. The only thing you need to do is provide the companies a bit of rating information including if you have an active license, how much you drive, any included safety features, and whether you are single or married. Your rating data is automatically sent to all major companies and they return quotes instantly.
To get price quotes for your Tesla Model S now, click here and enter the information requested.
The following companies provide price quotes in Toledo, OH. If multiple companies are listed, we suggest you visit two to three different companies to get the best price comparison.
Get cheaper Tesla Model S insurance rates in Toledo
Not many people think insurance is cheap, but you might be missing out on some discounts to help offset the cost. Certain discounts will be triggered automatically at the time of purchase, but a few must be inquired about prior to getting the savings.
- Bundle and Save – When you have multiple policies and insure them with the same company you may save nearly 15% which can help you find the cheapest Tesla Model S insurance in Toledo.
- Passive Restraints and Air Bags – Options like air bags or motorized seat belts could see savings of 25 to 30%.
- No Charge for an Accident – Not necessarily a discount, but a few companies such as State Farm, Progressive and GEICO permit an accident before raising your premiums if you are claim-free before the accident.
- Homeowners Savings – Being a homeowner can save a few bucks because of the fact that having a home requires personal responsibility.
- Good Drivers – Safe drivers can save as much as half off their rates than drivers with accident claims.
- Theft Deterrent System – Cars, trucks, and SUVs optioned with advanced anti-theft systems help deter theft and earn discounts up to 10% off your Toledo car insurance quote.
- Good Students Pay Less – A discount for being a good student can be rewarded with saving of up to 25%. Many companies even apply the discount to college students until age 25.
- Discounts for Federal Employees – Simply working for the federal government could qualify for a slight premium decrease depending on your company.
Discounts save money, but please remember that many deductions do not apply to the overall cost of the policy. The majority will only reduce specific coverage prices like collision or personal injury protection. So even though they make it sound like all those discounts means the company will pay you, it doesn’t quite work that way. Any qualifying discounts should help reduce your policy cost.
Larger auto insurance companies and a summarized list of policyholder discounts can be found below.
- State Farm has savings for multiple policy, multiple autos, passive restraint, driver’s education, and safe vehicle.
- Liberty Mutual has discounts for safety features, new vehicle discount, teen driver discount, multi-policy, multi-car, and newly retired.
- American Family discounts include bundled insurance, early bird, TimeAway discount, accident-free, air bags, and mySafetyValet.
- Progressive may offer discounts for online signing, homeowner, online quote discount, multi-vehicle, good student, multi-policy, and continuous coverage.
- Farmers Insurance offers premium reductions for pay in full, bundle discounts, good student, homeowner, and multi-car.
- Auto-Owners Insurance includes discounts for company car, paperless, safe driver, multi-policy, and anti-theft.
- SAFECO offers discounts for homeowner, teen safety rewards, accident prevention training, bundle discounts, drive less, safe driver, and teen safe driver.
Before purchasing a policy, check with all the companies which discounts you qualify for. Depending on the company, some discounts might not be available to policyholders everywhere.
What if I want to buy from local Toledo insurance agencies?
Many drivers would prefer to buy from a local agent. Good agents can make sure you are properly covered and help in the event of a claim. One of the benefits of comparing rates online is you may find the best rates but still work with a licensed agent. Supporting local agencies is still important in Toledo.
For easy comparison, once you complete this short form, the quote information gets sent to local insurance agents who will return price quotes for your coverage. You never need to drive around because prices are sent immediately to you. If you wish to get a price quote from a specific insurance company, you would need to jump over to their website to submit a rate quote request.
If you want to use a local Toledo insurance agency, you must know there are a couple different agency structures and how they differ in how they quote coverages. Car insurance agents can be described as either independent agents or exclusive agents. Both sell and service car insurance coverage, but it’s worth learning how they differ since it can affect your selection of an agent.
Independent Agencies or Brokers
Independent insurance agents are not employed by one company so they can insure your vehicles amongst many companies and get the cheapest rates. If your premiums go up, the agent simply finds a different carrier and you don’t have to do anything. When comparison shopping, you definitely need to get several quotes from independent agents to have the best price comparison. Many can place coverage with smaller mutual companies that may have much lower rates than larger companies.
Featured below are Toledo independent agents that may be able to give you price quote information.
- RBI Insurance and Financial Services
3421 N Holland Sylvania Rd – Toledo, OH 43615 – (419) 841-4446 – View Map - Burnor Insurance Agency Inc.
316 N Michigan St – Toledo, OH 43604 – (419) 243-6108 – View Map - Detlef Insurance
833 Woodville Rd – Toledo, OH 43605 – (419) 693-7458 – View Map
Exclusive Insurance Agencies
Exclusive agents are contracted to one company like American Family, State Farm, and Allstate. These agents are not able to place coverage with different providers so they are skilled at selling on more than just price. These agents are usually well trained on their company’s products which helps them compete with independent agents. Many people buy from exclusive agents partially due to the brand and the convenience of having all coverages with one company.
Below are Toledo exclusive insurance agents who can help you get comparison quotes.
- Dave Bly – State Farm Insurance Agent
2416 W Laskey Rd – Toledo, OH 43613 – (419) 474-9672 – View Map - Jeff Traudt – State Farm Insurance Agent
2828 Central Ave – Toledo, OH 43606 – (419) 473-3276 – View Map - Bud Moody – State Farm Insurance Agent
1751 W Sylvania Ave – Toledo, OH 43613 – (419) 471-9909 – View Map
Choosing the best auto insurance agent should depend on more than just the bottom line cost. Ask your prospective agent these questions:
- Will you work with the agent or an assistant?
- Are there any discounts for paying up front?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Where are claims handled?
- Do they get paid more for recommending certain coverages?
- When do they do a full risk review?
- If you have an accident, will your rates go up?
Four Tips to Get Cheap Toledo Insurance Prices
Many things are taken into consideration when you quote your car insurance policy. Some are obvious like an MVR report, but others are less apparent like where you live or your vehicle rating.
- Fast cars cost more to insure – The make and model of the vehicle you are buying insurance for makes a substantial difference in how high your rates are. Smaller low performance passenger models usually have the lowest rates, but the cost you end up paying is determined by many additional factors.
- Amount of liability insurance – Liability coverage kicks in in the event that a court rules you are at fault for causing personal injury or damage in an accident. Your policy’s liability insurance provides for a legal defense which can cost a lot. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
- Bundling policies can get discounts – Lots of companies will give discounts to people who carry more than one policy such as combining an auto and homeowners policy. Even if you already get this discount, drivers will still want to check prices from other companies to verify if the discount is saving money.
- Claim-free discounts can add up – Car insurance companies in Ohio provide cheaper rates to policyholders who do not rely on their insurance for small claims. If you are a frequent claim filer, you can pretty much guarantee higher rates. Your insurance policy is designed for major claims that would cause financial hardship.
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Tesla Model S insurance loss statistics – Auto insurance companies include the past claim history for a vehicle to calculate a price that will offset losses. Vehicles that statistically have a trend towards higher claims will have higher rates for specific coverages.
The next table illustrates the historical loss data for Tesla Model S vehicles. For each insurance policy coverage type, the claim amount for all vehicles, as a total average, is considered to be 100. Values below 100 indicate a favorable loss history, while percentage values above 100 indicate higher probability of having a loss or statistically larger claims.
Tesla Model S Insurance Claim Statistics Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Tesla Model S 4dr Electric 2WD 324 116 208 39 46 104 Tesla Model S 4dr Electric 4WD 333 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need quality insurance for your Model S
Despite the high cost of buying insurance for a Tesla Model S in Toledo, maintaining insurance serves an important purpose.
- The majority of states have compulsory liability insurance requirements which means state laws require specific minimum amounts of liability protection 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 you have a lien on your Tesla Model S, it’s guaranteed your bank will force you to have comprehensive coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank may insure your Tesla at an extremely high rate and force you to reimburse them the higher premium.
- Insurance safeguards both your Tesla and your assets. It will also reimburse you for many types of medical costs for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, your insurance policy will cover the repair costs.
The benefits of having insurance definitely exceed the cost, especially for larger claims. Today the average American driver is wasting up to $820 a year so we recommend shopping around at least once a year to ensure rates are inline.
Which car insurance company is best in Toledo?
Selecting the top insurance provider can be a challenge considering how many choices you have in Ohio. The ranking data in the next section can help you pick which auto insurance companies to look at buying from.
Top 10 Toledo Car Insurance Companies by A.M. Best Rank
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Top 10 Toledo Car Insurance Companies Ranked by Claims Service
- Progressive
- Travelers
- Liberty Mutual
- Nationwide
- USAA
- GEICO
- AAA Insurance
- Safeco Insurance
- Esurance
- The General
Affordable coverage is out there
A few companies don’t offer online rate quotes and these regional insurance providers only sell coverage through independent agents. Cheaper car insurance in Toledo can be purchased online in addition to local insurance agencies, so compare prices from both so you have a total pricing picture.
People leave their current company for any number of reasons including unfair underwriting practices, an unsatisfactory settlement offer, denial of a claim and even questionable increases in premium. No matter why you want to switch, finding the right car insurance provider can be less work than you think.
While you’re price shopping online, it’s not a good idea to buy poor coverage just to save money. In many cases, drivers have reduced full coverage and discovered at claim time that their decision to reduce coverage ended up costing them more. Your focus should be to purchase a proper amount of coverage at a price you can afford, but do not skimp to save money.
Steps to saving money on Tesla Model S insurance in Toledo
The best way to find more affordable Tesla Model S insurance in Toledo is to do an annual price comparison from insurers in Ohio.
- Step 1: Learn about individual coverages and the measures you can control to keep rates low. Many factors that result in higher prices like accidents, traffic violations, and poor credit can be remedied by making minor changes in your lifestyle.
- Step 2: Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO and Allstate, while independent agencies can provide prices for a wide range of companies.
- Step 3: Compare the new rate quotes to your existing coverage to see if cheaper Model S coverage is available. If you find a lower rate and buy the policy, ensure there is no coverage lapse between policies.
- Step 4: Notify your company or agent of your intent to cancel your current coverage and submit a signed application and payment to the new company. Once coverage is bound, put the new certificate verifying coverage with your registration paperwork.
One thing to point out is that you’ll want to compare the same physical damage deductibles and liability limits on each quote request and and to get price quotes from all possible companies. This provides an apples-to-apples comparison and a complete price analysis.
More information is located on the following sites:
- Event Data Recorders FAQ (iihs.org)
- Who Has Affordable Car Insurance Quotes for a Toyota Corolla in Toledo? (FAQ)
- How Much is Auto Insurance for a Company Car in Toledo? (FAQ)
- What Insurance is Cheapest for Homeowners in Toledo? (FAQ)
- Five Mistakes to Avoid (Insurance Information Institute)
- Child Safety FAQ (iihs.org)
- Understanding Car Crashes Video (iihs.org)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)