How Much are Auto Insurance Quotes for Drivers Under 25 in Ohio?

Finding out which company has the cheapest car insurance rates for drivers under 25 may require a little more work than just comparing rates from one or two companies. Every car insurance company has their own formula for determining prices, so let’s take a look at the car insurance companies that tend to be cheaper in Ohio.

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Utica National quotes some of the most affordable car insurance rates in Ohio at around $628 annually. Erie, Allied, Frankenmuth, and Travelers also make the cut as some of the lowest-priced Ohio auto insurance companies.

In the above example, if you have coverage with Allied and switched to Utica National, you may realize a yearly price reduction of around $48. Drivers with Frankenmuth could save as much as $80 a year, and Travelers policyholders might lower prices by $98 a year.

These policy prices are averaged across all insureds and vehicles and do not take into consideration a price increase for drivers under 25. So the car insurance company that has the lowest price for you may not even be shown in the list of companies shown earlier. That affirms the importance of why you need to quote rates from as many companies as possible using your own individual information.

When shopping for the cheapest auto insurance for drivers age 25 and younger, one of the many criteria used to calculate insurance cost is where you keep your vehicle. Regions with more people or even just more weather-related claims like Toledo, Cleveland, and Columbus tend to have higher auto insurance costs, whereas areas that tend to be more rural generally benefit from lower auto insurance rates.

The table below ranks the most expensive cities in Ohio for drivers under 25 in which to purchase auto insurance.

Annual rates are approximated as the garaging address in Ohio can influence premiums significantly.

The vehicle model to be insured is a large consideration when quoting low-priced auto insurance for drivers under 25. Vehicles with lower acceleration and performance, a great safety record, or a low likelihood of having liability claims will cost significantly less to insure than fast, unsafe models.

The next table illustrates car insurance prices for a handful of the most budget-friendly vehicles to insure.

Data based on single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in garaging location in Ohio which can lower or raise premiums significantly.

Looking at the rates, we can expect makes and models like the Honda CR-V, Chevrolet Traverse, Ford Escape, and Honda Accord are going to be the cheapest vehicles to insure for drivers age 25 and younger. The price for an auto insurance policy will be more expensive just due to the fact that there is more inherent risk for drivers under 25, but in general those models will have the best rates possible.

Full coverage rates compared to liability only

Finding cheap insurance for drivers under 25 in Ohio should be important to most drivers, and one great way to lower the cost of insurance is to not buy comprehensive and collision coverage. The information below shows the difference between premium costs with full coverage compared to only the Ohio minimum liability coverage. The information is based on no claims or driving citations, $250 deductibles, single marital status, and no discounts are factored in.

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If we average the cost for ages 20 through 70, physical damage coverage on your policy costs $1,325 per year more than just buying liability insurance. Many drivers may wonder if you should buy full coverage. There is no clear-cut rule of when to stop paying for comp and collision coverage, but there is a general school of thought. If the yearly cost of full coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s say your vehicle’s settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after paying your policy deductible. If it’s costing in excess of $700 annually for comprehensive and collision coverage, then it could be time to drop full coverage.

There are some cases where buying only liability insurance is not financially feasible. If you haven’t paid off your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

Which car insurance company is best in Ohio?

Buying coverage from the top car insurance company is difficult considering how many companies provide coverage in Ohio. The company ratings below could help you select which auto insurers to look at when comparing rate quotes. The ratings below are only comprised of companies with a national presence, so companies without a large exposure are not included in the list.

Top 10 Large Auto Insurers in Ohio Ranked by Customer Service

1. Nationwide
2. State Farm
3. Safeco Insurance
4. American Family
5. Titan Insurance
6. Travelers
7. Liberty Mutual
8. GEICO
9. Erie Insurance
10. Allstate

Top 10 Large Auto Insurers in Ohio Ranked by Claims Service

1. Progressive
2. Travelers
3. Liberty Mutual
4. Nationwide
5. USAA
6. AAA Insurance
7. Safeco Insurance
8. GEICO
9. The General
10. Esurance

Best cheap insurance quotes for drivers age 25 and younger

There are a variety of different ways to shop for and buy car insurance in Ohio, but the most preferred are from an independent agent, an exclusive insurance agency such as Allstate or Liberty Mutual, or direct online or over the phone from a company like Progressive or Geico.

They all have the same end result, but buyers need to know the differences in how they function.

Independent agencies work for many companies and can get rate quotes from every one. Agents of this type are usually affiliated with several companies and can compare multiple rates, which can help you get a better overall rate comparison. If they quote lower rates, you can get a different policy and you do not have to find a new agent.

A captive or exclusive agent is able to place business with a single company, two examples being Allstate or State Farm agents. Exclusive agents normally do not have the ability to provide rate quotes from other companies, so you might not find the best rates.

When you buy car insurance direct, you skip the middleman (the agent) and buy direct from companies such as Geico or Esurance. This option can be good for people who do not need advice for risk management and have a decent understanding of what limits they need.

What is the best way to find cheap insurance for drivers under 25 in Ohio? The obvious answer would be buying from a direct company results in the cheapest price since there is no need to pay agent commissions, but in reality, that is not the case. We could also assume that going through an independent agent is the best way to go since there are more companies to choose from, but that assumption is also not accurate. In many cases, exclusive agencies have really good rates that are the lowest in Ohio.

Since car insurance prices are based on many different factors, really the only way to find out which one is cheapest is to do a thorough rate comparison. We highly recommend getting quotes from all three to give yourself enough choices. To see some of the cheapest online companies available, click here to view.

How to find cheap insurance for drivers under 25 in Ohio

Below you’ll find some of the recommended penny-pinching ideas that can help drivers quote more affordable auto insurance.

• At-fault accidents will increase rates
• Improve your credit score
• Safer vehicles generally have cheaper insurance rates
• Do not insure for full coverage
• Maintain a clean driving record
• Increase your deductibles
• Keep rates low by comparing prices once a year

That final tip is extraordinarily necessary, as we stressed in the article above. Insurance prices fluctuate constantly, so drivers shouldn’t hesitate to buy a policy from a new company if you find a better deal. Having a favorite company is fine, but it isn’t a good idea if that loyalty results in overpaying a small fortune. If you have a few minutes, compare rates and find cheaper auto insurance for drivers under 25.