Cheap car insurance in Ohio isn’t always easy to come by. Ohio rates tend to be cheaper than the national average, but prices can vary drastically depending on the insurance company or personal factors, such as age and credit history.
To help Ohioans navigate their car insurance market more efficiently, NerdWallet researched rates from the nine largest providers in the Buckeye State and found the three cheapest options for these distinct driver types:
- Good drivers
- Young drivers
- Drivers with one at-fault accident
- Drivers with poor credit
- Retired drivers
Cheapest for good drivers
For drivers with no at-fault accidents, DUIs or moving violations; range of average prices: $701 to $2,891 a year
The average for good drivers among the the three cheapest insurers was $841 per year. Grange and Erie notched similar estimates — only about $6 a month difference between them — but as smaller, regional companies, they’re more limited in service area and discounts than State Farm, which is partly why the latter has a bit pricier quotes.
Cheapest for young drivers
For drivers in their early 20s; range of average prices: $241 to $1,036 a year
Drivers in their early 20s are just starting out, and usually don’t need as much coverage as older motorists who have families to protect or have accumulated significant savings or assets. As a result, young drivers can find pretty cheap car insurance in Ohio. Erie had the lowest prices in our study at $241 a year, but shoppers can find relatively good deals at all three of the cheapest companies; each came in at under $35 a month.
Cheapest for drivers with one at-fault accident
Range of average prices: $1,001 to $3,475 a year
In our analysis, drivers who caused an accident saw their lowest average quote go up by $300 a year compared to good drivers with no blemishes on their record. Prices for this category also increased sharply on the high end of the spectrum. The most expensive estimate we found was almost $3,500 a year, proving that drivers with at-fault claims can benefit more than most from shopping around and comparing as many estimates as possible.
Cheapest for drivers with poor credit
For drivers placed in the lowest credit tier as determined by the industry; range of average prices: $857 to $2,401 a year
Many insurers consider credit-based insurance scores a useful indicator of a policyholder’s future claims, and could charge more from those with poor credit. Grange had the lowest estimate in our test at $857 a year — more than $150 above its sample quote for drivers of the same age with no credit problems. Still, this was by far the best deal we found, as both Geico and Nationwide charged around $500 per year more for the same policy.
Cheapest for retired drivers
For drivers in their mid- to late 60s who no longer use their car for commuting; range of average prices: $701 to $2,891 a year
While older drivers might be worried about rising insurance premiums as they age, retired Ohioans may be able to rest easy. Of the three cheapest companies for this category, Grange had the same estimate as it did for 30-year-old good drivers, and Erie and State Farm both had lower average costs. Retired drivers should also look to take advantage of discounts that come with age; in fact, many companies even offer savings for reaching a certain number of years (usually 55).
Minimum car insurance requirements in Ohio
Ohio drivers must carry liability insurance, which covers others’ property damage or injury treatment if you’re responsible for the accident.
The minimum limits you must select are:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Keep in mind, a serious incident could leave damages that easily surpass these amounts. To avoid having to pay post-accident bills out of your own pocket, consider getting more than the bare minimum. You may also want common optional coverages such as collision, comprehensive or uninsured motorist protection.
For more help planning your Ohio auto policy, visit NerdWallet’s guide to understanding state car insurance requirements.
Alternative car insurance in Ohio
Drivers who can’t obtain car insurance on Ohio’s voluntary market, because of a poor driving record or other factors, may be able to get coverage through the state’s high-risk insurance network. Learn more about eligibility requirements here.
Check out NerdWallet’s car insurance comparison tool to get the most competitive quotes in Ohio and see how much you could save.
METHODOLOGY
For most categories, NerdWallet averaged rates from the largest insurers for 30-year-old men and women in 10 ZIP codes and with 100/300/50 liability insurance limits and 100/300 uninsured motorist bodily injury coverage. We used a 2012 Toyota Camry in all cases.
Our sample retired driver was 67 and drove 50% fewer annual miles than other groups. Our sample young driver was 22 and carried the minimum required coverage. These are sample rates generated through Quadrant Information Services. Your own rates will be different.
Alex Glenn is a staff writer for NerdWallet, a personal finance website. Email: aglenn@nerdwallet.com.
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