Who Has the Cheapest Auto Insurance for Business Use in Ohio?

Deciphering which companies quote the cheapest auto insurance rates for business use may require a bit more effort in order to find coverage that fits your buget. Each insurance company uses a different method for determining prices, so we will examine the auto insurance companies that tend to be cheaper in Ohio.

It’s important that you understand Ohio auto insurance rates are calculated based on many things that will increase or decrease the cost of your policy. Simply getting older, adding a teenager to your policy, or having an accident may prompt premium changes that may make certain companies more affordable than others.

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Utica National has some of the best car insurance rates in Ohio at around $635 each year. Erie, Frankenmuth, Allied, and Travelers would also make the list of some of the best Ohio insurance companies.

As shown above, if you have coverage with Allied and switched to Utica National, you could see a yearly savings of roughly $55. Drivers with Travelers could save as much as $70 a year, and USAA policyholders might see rate reductions of $106 a year.

Be aware that those policy prices are averages across all types of drivers and the different vehicles they drive and and are not figured with a price surcharge for business use. So the company that is best for you may not even be included in the list of companies above. That affirms the importance of why you need to get rate quotes using your own personal information and vehicle type.

The vehicle model you are insuring is one of the primary factors that determines whether or not you can buy low-cost auto insurance for business use. Vehicles with limited speed and performance, good safety features, or low incidents of liability claims will cost substantially less to insure than high performance models.

The table below showcases car insurance premiums for some of the cheapest automobiles to buy insurance for.

Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Prices do not factor in vehicle garaging location which can revise coverage rates substantially.

Looking at the rates, models like the Honda CR-V, Toyota Prius, Honda Accord, Ford Escape, and Jeep Wrangler are likely to be the less-costly vehicles to insure for using your car for business. The cost of a car insurance policy will tend to be more expensive because of the fact that there is a higher risk for business use, but overall those particular vehicles will most likely have the lowest prices possible.

For using your car for business, one of the big factors that help determine the amount you pay for auto insurance is the neighborhood you call home in Ohio. Cities with larger populations or higher claims like Youngstown, Cleveland, and Cincinnati will most likely have higher rates, whereas areas with less crime or weather claims enjoy lower car insurance rates.

The table below sorts the most expensive cities in Ohio for business use to buy car insurance in.

Premium costs are approximated as the specific area where the vehicle is garaged can lower or raise coverage prices substantially.

The chart below demonstrates how deductibles can increase or decrease insurance rates when trying to find cheap insurance for business use. The premiums are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3063,2785,2485,2203],[‘Age 30’, 1579,1451,1303,1159],[‘Age 40’, 1569,1433,1275,1129],[‘Age 50’, 1427,1303,1167,1035],[‘Age 60’, 1379,1263,1131,1003],[‘Age 70’, 1673,1537,1389,1251]]);var options = {title: ‘Effect of Deductibles on Insurance Premiums in Ohio’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

In the chart above, a 30-year-old driver could lower their car insurance rates by $294 a year by switching from a $100 deductible to a $500 deductible, or save $440 by choosing a $1,000 deductible. Young drivers, such as the Age 20 example, can cut up to $860 or even more just by choosing higher deductibles when buying full coverage. When using a larger deductible, it will be necessary to have enough funds in savings to be able to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

How violations and accidents impact rates

The obvious way to earn the cheapest auto insurance for business use in Ohio is to be a good driver and avoid getting tickets or having accidents. The information below highlights how speeding tickets and fender-benders increase annual premium costs for different age categories. The price estimates are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and One Accident’],[‘Age 20’, 1767,2095,2429],[‘Age 30’, 929,1259,1593],[‘Age 40’, 909,1239,1573],[‘Age 50’, 831,1163,1497],[‘Age 60’, 805,1137,1471],[‘Age 70’, 995,1325,1659]]);var options = {title: ‘Violations, Accidents, and Ohio Car Insurance Rates’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Ohio’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The chart shows that the average cost of car insurance in Ohio per year with no accidents and a clean driving record is $1,039. Get written up for two speeding tickets and the average cost surges to $1,370, an increase of $330 each year. Then add one accident along with the two speeding tickets and the 12-month cost of auto insurance for business use jumps again to an average of $1,704. That’s an increase of $664, or $55 per month, just for not driving responsibly!

How to find low-cost auto insurance for business use

It is possible to find better rates, and here are some of the better money-saving suggestions that can help Ohio drivers find cheap coverage.

• On older vehicles, drop full coverage
• Speeding tickets and other violations increase rates
• Prevent price hikes by avoiding at-fault accidents
• Raise deductibles to save money
• Try to not file small claims
• Comparison shop frequently

The last idea is remarkably critical, as was stressed in this piece. Car insurance prices in Ohio can change significantly in a year, so you should be ready to buy from a new company if you find a better deal. Having brand loyalty is commendable, but is isn’t recommended if that devotedness results in you overpaying big bucks every year. In just a couple of minutes you could shop around to find cheaper insurance for business use.