Who Has the Cheapest Auto Insurance for Veterans in Ohio?

The make and model of vehicle you are insuring is one of the main factors when comparison shopping for the cheapest car insurance for veterans in Ohio. Vehicles with lower acceleration and performance, good crash test ratings, or a track record of few liability claims will cost quite a bit less to insure than higher performance models. The next list shows car insurance rates for some of the cheapest vehicles to buy coverage for.

Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Price estimates do not factor in zip code location which can change coverage rates substantially.

Based on these rates, cars like the Honda Accord, Honda CR-V, and Toyota Prius are likely to be a few of the cheapest vehicles to insure for veterans.

For veterans, one of the more important considerations that car insurance companies use when figuring rate quotes is where you normally keep your vehicle in Ohio. Areas with increased crime or more people like Toledo, Cleveland, and Columbus tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.

The following table rates the most expensive cities in Ohio for veterans to purchase a policy in.

Premium amounts are comparative as specific location information can influence premium rates greatly.

Full coverage rates vs. liability-only

Finding the cheapest car insurance for veterans in Ohio should be important to the majority of people, and one easy way to lower the cost of insurance is to only buy liability insurance. The example below illustrates the difference between car insurance rates with full physical damage coverage compared to only buying liability only. The data assumes no driving violations, no at-fault accidents, $1,000 deductibles, single status, and no other discounts are factored in.

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As an average, full coverage costs $1,279 per year more than buying just liability insurance. Many drivers will wonder when is it safe to stop buying full coverage. There is no exact rule for eliminating physical damage insurance, but there is a general convention. If the yearly cost of comp and collision coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s say your vehicle’s book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $2,000 after paying the physical damage deductible. If you are paying more than $200 a year for full coverage, the it may be a good time to stop paying for full coverage.

There are some conditions where eliminating full coverage is not recommended. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not eliminate full coverage.

How accidents and tickets impact rates

The ideal way to enjoy affordable car insurance prices in Ohio for veterans is to drive safe and avoid traffic citations and accidents. The diagram below shows how speeding tickets and fender-benders increase insurance costs for different categories of driver ages. The costs are based on a married female driver, full physical damage coverage, $500 deductibles, and no discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and One Accident’],[‘Age 20’, 1575,1757,2269],[‘Age 30’, 1091,1275,1789],[‘Age 40’, 1087,1269,1783],[‘Age 50’, 957,1141,1653],[‘Age 60’, 911,1093,1607],[‘Age 70’, 989,1175,1685]]);var options = {title: ‘Violations, Accidents, and Ohio Car Insurance Prices’,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);}

In the previous chart, the average cost of car insurance in Ohio per year with a clean driving record and no accidents is $1,102. Get one speeding ticket and the average cost rises to $1,285, an increase of $183 each year. Now include one accident along with the one speeding ticket and the yearly cost of car insurance for veterans jumps again to an average of $1,798. That’s an increase of $696, or $58 per month, just for not driving safely!