Ohio requires drivers to carry a minimum of $25,000 in bodily injury liability coverage per person, $50,000 in bodily injury liability coverage per accident, and $25,000 in property damage liability coverage per accident. But what does this mean in terms of car insurance rates? With all of these coverages combined, car insurance can still vary depending on several factors, including age, which company the insurance is through, and geographical location. In this article, we look at the average rates of auto insurance based on these factors and other factors that influence car insurance in Ohio.
Average Car Insurance Costs in Ohio by Insurance Provider
Insurance rates can vary greatly depending on who your provider is. The following is a list of companies and their average annual premium for full coverage auto insurance:
- Allstate: $1,292
- Central: $1,162
- Farmers: $913
- Geico: $843
- Progressive: $998
- USAA: $820
- State Farm: $906
- MetLife: $1,350
- Erie: $974
- Donegal: $944
Average Car Insurance Costs in Ohio by Age
Another important factor that influences the cost of car insurance is a person’s age. In most cases, younger individuals have larger premiums due to their inexperience and accident risk. The following are the average cost of car insurance by age in Ohio:
- Age 16: $1,647
- Age 18: $3,629
- Age 20: $2,682
- Age 25: $1,462
- Age 30: $1,240
- Age 40: $1,174
- Age 50: $1,053
- Age 60: $1,023
- Age 70: $1,146
Average Car Insurance Costs in Ohio by City
Where you live in Ohio is another component that can affect your auto insurance rates. The following are cities in Ohio and their corresponding average auto insurance rates:
- Columbus: $1,167
- Cleveland: $1,362
- Cincinnati: $1,149
- Akron: $1,110
- Canton: $1,065
- Springfield: $1,021
- Youngstown: $1,237
- Mansfield: $930
- Lima: $963
- Lancaster: $1,021
- Hamilton: $1,068
- Toledo: $1,195
- Dayton: $1,069
- Parma: $997
- Middletown: $1,020
- Lorain: $979
- Elyria: $968
- Westerville: $1,071
- Medina: $925
- Massillon: $1,003
Average Car Insurance Costs in Ohio by Credit Score
Your credit score is another factor that directly impacts your car insurance rate. Here are the average rates in Ohio based on credit score:
- Very Poor (300-579): $1,898
- Fair (580-669): $1,559
- Good (670-739): $1,303
- Very Good (740-799): $1,075
- Exceptional (800-850): $873
Other Factors That Affect Car Insurance Rates in Ohio
In addition to age, location, credit score, and insurance provider, there are several other factors that can affect how much you’ll pay for car insurance. Some of the most important factors include:
- Driving history: Individuals with a history of DUIs or DWIs, a reckless driving citation, an at-fault accident, or a speeding citation on their record may pay more for auto insurance than those with clean driving records.
- Car make and model: The type of vehicle you drive also plays a role in how much your insurance premium will cost. Insurance providers often prefer to insure drivers who own a safe vehicle, as they often file fewer and less severe claims.
- Mileage: The more you drive, the higher your risk is of getting into an auto accident. People who spend more time in the car may pay higher premium rates than those who drive less frequently.
- Marital status: Whether you’re married or not may also impact your car insurance cost. Married individuals are, on average, less risky drivers compared to those who are single, so married individuals often pay less, while single people often pay more.
- Gender: Gender is another component considered by insurance companies when calculating a person’s auto insurance rate. For example, men in their mid-40s often pay less than women in their mid-40s. However, the cost associated with gender varies depends on age. For example, male teenage drivers often pay the most for coverage.
Types of Car Insurance Offered in Ohio
There are specific Ohio state minimums that a driver must hold in order to possess insurance. These minimums include a $25,000 limit per person/$50,000 limit per accident in bodily injury liability and a $25,000 limit in property damage liability. In addition to these two types of coverage, there are other options that you can add to your premium. These include:
- Uninsured and underinsured motorist liability: This type of coverage helps you pay for injuries, damages, and losses should you get into an accident with an uninsured or underinsured driver. This coverage only comes into play if the other driver is at fault.
- Medical expenses: Medical expenses coverage will cover medical costs that you or your passengers incur as a result of an injury in an auto accident. It will also cover funeral expenses should someone who was in your vehicle pass away as a result of the accident.
- Collision coverage: Collision insurance covers damages to your vehicle caused by a collision, such as a collision with another vehicle or an object. For example, if your car experienced damage after colliding with a tree, collision insurance would cover the repairs or replacements for this damage.
- Comprehensive coverage: This type of coverage offers assistance should your car need repair or replacement in the event that it’s stolen or damaged. For example, if your vehicle suffers damage in a hailstorm, your comprehensive coverage would pay for the repairs or replacements for this damage.
Which Car Insurance Companies Have the Least Expensive Rates in Ohio?
Every insurance company offers different rates. Some companies that offer the cheapest rates include State Farm, Geico, and Westfield. However, it’s important to keep in mind that your insurance premium may depend on various other factors, such as those mentioned earlier in this article.
If you own a car in Ohio, it’s important to know the average car insurance cost so you can compare rates when shopping around. If you’re unsure of a company’s rate, speak with an agent to learn more about what’s available to you. Do your research, and you’ll find the company that offers the best rates for you.
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.