Ohio is the seventh most populated state in America, with almost 12 million people and 14 metropolitan areas. Drivers in Ohio need to contend with snow, ice, floods, random accidents and uninsured drivers. Here’s how to put together a good car Ohio auto insurance policy.
Cheap Car Insurance in Ohio
Price is the deciding factor for many auto insurance shoppers. We evaluated rates for 10 large auto insurance companies in Ohio for a variety of drivers to find the cheapest auto insurance options.
It’s good to weigh both price and customer service when you’re looking for the best car insurance companies.
Cheap Car Insurance for Good Drivers
Fortunately Ohio auto insurance rates tend to be well below the national average. Still, you can save money by shopping around. Grange and Geico were the cheapest for good drivers in Ohio among the companies we surveyed.
Cheap Car Insurance for Drivers with a Speeding Ticket
Even if you have a speeding ticket you can still get a good insurance rate in Ohio. Geico and Grange were the cheapest options in our evaluation.
Ohio uses a point system for moving violations. If you rack up 12 points during a two-year period your license will be suspended. A speeding ticket will put 2 to 4 points on your license, depending on how much over the speed limit you were going. Here is Ohio’s points chart.
Cheap Car Insurance for Drivers with an Accident
Grange and Geico also had the best auto insurance rates for drivers who have caused an accident, based on the companies we evaluated.
If your rates go up at renewal time because of an accident, you can still shop around for better rates. The company that offered a good deal when you had a clean driving record may not longer be the cheapest option.
Cheap Car Insurance for Adding a Teen Driver
While adding a teen driver to an auto insurance policy can easily cost an extra $1,000 a year, you may be able to get a better price from insurers such as Nationwide and Allstate. And even though you won’t be happy paying the bigger bill, Ohio’s average rates for adding a teen driver are far below the national average.
Cheap Car Insurance for Drivers with Poor Credit
Having poor credit in Ohio will result in an average increase of $800 a year for car insurance compared to a similar driver with good credit. Grange and Geico have the cheapest auto insurance rates in our study for Ohio drivers with poor credit.
If you’re able to improve your credit, make sure your auto insurance reruns your credit so that you can get better rates.
Cheap Car Insurance for Drivers with State Minimum Coverage
Buying only the minimum required auto insurance is one way to reduce your car insurance bill, but it will leave you open to expensive lawsuits that your insurance won’t cover. Erie and Grange has the best rates for Ohio minimum auto insurance in our study.
Required Minimum Ohio Car Insurance
Car owners in Ohio must carry liability car insurance, which pays for injuries and damages you cause to others. This coverage type also pays for a legal defense in case you’re sued because of a car accident. If someone crashes into you, you can file a claim against their liability insurance, or sue them.
In Ohio you must purchase liability car insurance with limits of at least:
- $25,000 for bodily injury to one person
- $50,000 for bodily injury to multiple people in one accident
- $25,000 for damage to property in one accident
This is written as 25/50/25.
It’s smart to purchase higher liability car insurance limits than Ohio’s minimum requirements. Here’s why: If you cause an accident that results in multiple injuries or major property damage, the bills could exceed your insurance limits and you could be sued for the rest. It’s a good idea to buy enough liability insurance to cover your net worth, or the amount you could lose in a lawsuit.
What Else Should I Have?
Uninsured/underinsured motorist coverage. Uninsured motorist coverage (UM) covers medical bills if you’re hit by another driver who doesn’t have any liability insurance. Underinsured motorist coverage (UIM) covers medical bills if you’re hit by a driver who has liability insurance but not enough to cover all of your medical expenses.
Medical payments (MedPay). This insurance type covers medical expenses for you and your passengers for injuries suffered in a car accident, no matter who caused the accident. It’s usually in small amounts though, such as $1,000 of coverage.
Collision and comprehensive coverage. If you want coverage for your car, these insurance types cover a host of problems, such as car theft, car accidents, hail, floods, fire, riots, vandalism, falling objects and collision with animals (like birds and deer).
If you have a car loan or lease, your lending or leasing company will most likely require you to carry collision and comprehensive insurance.
Putting It All Together
Can I Show My Insurance ID Card from My Phone?
Ohio lets you use your phone to show an auto insurance ID card. If you’re pulled over, you don’t have to hope your ID card is somewhere in your glove compartment. Many auto insurers have mobile apps that include access to your insurance ID.
Average Ohio Auto Insurance Premiums
Ohio drivers pay an average of $727 a year for auto insurance. Here are average premiums for common coverage types.
Factors Allowed in Ohio Car Insurance Rates
In addition to your driving record, past claims and vehicle model, car insurance companies in Ohio can use these factors when calculating rates for customers.
How Many Uninsured Drivers are in Ohio?
About 12% of Ohio drivers have no auto insurance, according to the Insurance Research Council. That’s why it’s good to have your own insurance for covering problems they cause, including MedPay, uninsured/underinsured motorist coverage and collision insurance.
Penalties for Driving Without Auto Insurance
If you’re caught driving without car insurance in Ohio, you could have your driver’s license suspended for up to 90 days (and up to a year for repeat offenders). Your vehicle could be impounded and you can expect to pay impoundment fees, license/registration reinstatement fees and court costs.
When Can a Vehicle Be Totaled?
If your car is badly damaged, car insurance companies in Ohio can declare it to be a total loss if the vehicle is “economically impractical” to repair.
Largest Car Insurance Companies in Ohio
Like many other states, Ohio’s car insurance market is dominated by a couple of large players, In Ohio’s case, State Farm and Progressive control one-third of the market for private passenger auto insurance.
Solving Insurance Problems
The Ohio Department of Insurance is responsible for regulating insurance companies and taking complaints. If you have an unresolved issue with a car insurance company, you can file a complaint.
Methodology
To find the cheapest auto insurance companies in Ohio we used average rates from Quadrant Information Services, a provider of insurance data and analytics. The companies evaluated in Ohio were Allstate, The Cincinnati, Erie, Farmers, Geico, Grange, Auto-Owners, Nationwide, Progressive and State Farm.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
