Getting your hands on cheap car insurance that fulfills all of your state’s legal requirements is important. Luckily, it’s easy to find and purchase cheap car insurance in Toledo, Ohio, with this guide. There are many options for affordable car insurance in Toledo. Requesting quotes from several insurance companies and comparing prices can help you find excellent, reasonably priced insurance coverage.
Car Insurance Requirements in Toledo, Ohio
When you shop for cheap car insurance in Toledo, make sure that it fulfills the area’s minimum legal requirements. Some companies may sell policies that don’t meet the minimum requirements in the state. If you get pulled over by a police officer and you don’t have proof of adequate insurance, you could get a ticket. The penalty for not having adequate insurance is the same as the penalty for having no coverage. In Ohio, most people must have:
- At least $25,000 of coverage for bodily injury per person
- At least $50,000 of coverage for bodily injury per accident
- At least $25,000 of coverage for property damage per accident
If you don’t have insurance, you can deposit $30,000 in money or government bonds with the Ohio Treasurer. You can also get a certificate of self-insurance if you or your company own 25 or more vehicles.
Cheap Insurance Companies in Toledo
The average car insurance rate for folks in Toledo is about $100 per month. Here are some of the most affordable insurance companies that service the Toledo area.
GEICO received a rating of 881 out of 1,000 points from J.D. Power’s 2021 Auto Claims Satisfaction Study. This company is one of the least expensive car insurance providers in the state, and it offers discounts for vehicle safety and security features, achievements in driver education, a good driving history, and customer loyalty. Military personnel and federal employees can receive discounts as well.
USAA is for active members of the United States military, veterans, and their families. It doesn’t offer a military discount. Instead, only military members and their families can get USAA insurance. The company offers competitive rates and a variety of perks, including:
- Rental car discounts
- Moving discounts
- A discount for drivers with a clean record for five years or more
- A discount for people who get good grades in high school or college or are parents of students who receive good grades
- A safe driving discount for people who complete a defensive driving course
- A discount for vehicles in storage
- A discount for low annual mileage
- A multi-vehicle discount
- A multi-policy discount for people with more than one type of insurance with the company, like homeowners and car insurance
USAA’s SafePilot program is available in Ohio as well. After you download the app on your smartphone, it tracks your location, the time of day, how many hours you drive per year, whether you handle your phone while driving, and similar data. Then, the app gives you a driving score and awards up to a 30% discount. You can cancel your participation in the program at any time. It only uses data to assign discounts, not increase insurance rates.
Progressive started in Mayfield Village, Ohio, in 1937. The company also offers renters, homeowners, commercial, and other insurance. Anyone can apply through Progressive’s network of independent insurance agents. Discounts are available for:
- Good students
- Distant students
- People with multiple vehicles
- Those with multiple policy types
- Continuous coverage
- Teen drivers
- Choosing paperless statements
- Paying for policies in full rather than monthly
- Setting up automatic payments
Like USAA, you can download an app that tracks your driving habits for an additional discount. You can also sign up for a deductible savings bank. If you have comprehensive or full-coverage insurance, it reduces your deductible by $50 for each policy period without a violation or accident. People who use Progressive for five years and don’t have an accident for three of those years can take advantage of accident forgiveness to keep their rates from increasing after an accident.
Erie Insurance has great customer service and low prices, but not many online options. It offers many discounts for young drivers, and it’s an excellent option for parents of new drivers. You can also get discounts for occupant-sensing air bags and security systems. Erie Insurance lets people lock in their rates and avoid spending more in the future due to inflation. Like Progressive, Erie sells insurance through a network of independent agents.
How Toledo Insurance Companies Calculate Rates
Insurance companies use several factors to decide rates, including age, type of coverage, cost of the vehicle, marital status, and claim history. Teenagers usually have the highest rates because they don’t have much driving experience, and people in their 50s often have the lowest rates. People who live in ZIP codes with high crime rates usually need to pay more for insurance because there’s a higher chance of theft or vandalism.
In Ohio, people with a suspended or revoked license or a conviction for a DUI, reckless driving, driving without insurance, or a similar offense must file an SR-22 form that will likely raise their car insurance rates. Having a poor credit history can raise your insurance rates as well. If you improve your credit score, you can save hundreds of dollars every year.
To find cheap car insurance in Toledo that meets your needs, consider the value of your vehicle. If you can afford to replace it with no problem, you can get the minimum required amount of liability insurance. You may not need comprehensive insurance if you have an older vehicle. Many companies offer roadside assistance and payment for a rental car while you wait for repairs or shop for a new car. By getting quotes from the best-rated companies, you can compare rates and make sure you get the best deal for your needs.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.