How Much Does Auto Insurance Cost for 16 Year Olds in Ohio?

When the topic is car insurance, the words cheap or affordable should not be used anywhere in the article as a descriptor for auto insurance rates. Forgive the oxymoron, but cheap auto insurance for 16 year olds can be difficult to find. Don’t get your dauber down, because we will teach you how you can find insurance that doesn’t cost an arm and a leg.

For new drivers, one of the largest things that determine a rate quote is where you call home. Cities with larger populations or higher claim trends like Toledo, Cleveland, and Columbus tend to pay slightly more, whereas areas with less congestion benefit from having to pay less for coverage.

The next table illustrates the highest-priced places in Ohio for 16 year olds in which to purchase auto insurance.

Annual rates are comparative as the specific garaging location can decrease or increase premium rates noticeably.

Determining which companies quote the cheapest car insurance rates for 16 year olds will involve a little more effort in order to find the best policy. Every insurance company uses a slightly different approach to set their prices, so let’s rank the car insurance companies with the overall cheapest rates in Ohio.

It’s important to know that Ohio car insurance rates are impacted by many things that will increase or decrease the price you have to pay for coverage. Simply improving your credit, moving to a different location, or having a fender bender may prompt premium changes that can now make some companies much cheaper than others.

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Utica National has some of the cheapest car insurance rates in Ohio at around $647 a year. Erie, Allied, Frankenmuth, and Travelers also make the cut as some of the cheapest Ohio auto insurance companies.

As illustrated above, if you are insured with Allied and switched to Utica National, you might realize annual savings of around $43. Ohio drivers with Frankenmuth could save as much as $54 a year, and Travelers insureds might see rate reductions of $79 a year.

It’s important to note that these premium estimates are averaged for all ages of drivers and types of vehicles and and are not figured with a rate surcharge for 16 year olds. So the insurer that fits your situation best may not even be included in the list above. That helps illustrate why you need to quote rates from as many companies as possible using your own personal information and vehicle type.

Everyone has different tastes in autos, and the style of vehicle you are insuring is probably the most important factor when consumers are trying to find cheap auto insurance for 16 year olds in Ohio. Vehicles with average performance, excellent safety ratings, or low incidents of liability claims will cost substantially less to insure than high performance models.

The data below showcases car insurance prices for some of the most economical vehicles to buy insurance for.

Prices based on single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Price information does not factor in vehicle garaging location which can alter auto insurance rates greatly.

Table data represents single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in specific Ohio garaging location which can alter auto insurance rates substantially.

Data variables include single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Rate information does not factor in garaging location in Ohio which can modify rates substantially.

Rate comparison of full coverage and liability-only

Finding cheap auto insurance for 16 year olds in Ohio should be important to the majority of people, and one easy way to buy cheaper insurance is to not pay for full coverage. The chart below compares insurance costs with and without full coverage. The prices are based on a clean driving record, no claims, $100 deductibles, single marital status, and no discounts are applied to the premium.

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On average, full coverage costs an extra $1,782 per year more than just insuring for liability. That may make you wonder when is it a good idea to stop buying full coverage. There is no clear-cut formula of when to exclude physical damage insurance, but there is a general convention. If the annual cost of coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let’s assume your vehicle’s book value is $7,500 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $6,500 after paying the physical damage deductible. If it’s costing you more than $650 annually for physical damage coverage, then it might be time to buy liability only.

State Farm vs Allstate vs Geico vs Progressive

If you are shopping around for auto insurance for new drivers in Ohio, the four most popular companies are State Farm, Allstate, Geico, and Progressive. They all have your normal coverages like liability, comprehensive, and collision, but each one offers a different combination of discounts, features, and options that may influence which company you choose. The next table points out price, claims, and customer service ratings, as well as some optional coverages that may be available in Ohio.