Comparing quotes for low-priced auto insurance is difficult, and deciding which company offers the most affordable auto insurance rates for 17 year olds involves even more shopping around.
Each company uses different criteria for determining prices, so let’s take a look at the auto insurance companies that tend to have lower prices in Toledo, OH. It’s important to know that Toledo auto insurance rates are based on many factors which can substantially decrease or increase the cost of coverage. Improving your financial situation, buying a higher-value vehicle, or getting a couple of tickets can cause premium changes resulting in some rates now being more affordable than before.
Best Cheap Insurance Rates for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $654 |
| 2 | Allied | $676 |
| 3 | Frankenmuth | $680 |
| 4 | Erie | $681 |
| 5 | USAA | $733 |
| 6 | Travelers | $733 |
| 7 | Merchants Insurance Group | $748 |
| 8 | Cincinnati Insurance | $779 |
| 9 | Motorists Mutual | $816 |
| 10 | Grange Mutual | $828 |
| 11 | General Casualty | $837 |
| 12 | Hastings Mutual | $858 |
| 13 | State Farm | $867 |
| 14 | Central Mutual | $874 |
| 15 | Atlantic States | $913 |
| 16 | Westfield | $918 |
| 17 | Auto-Owners | $958 |
| 18 | Western Reserve | $961 |
| 19 | Progressive | $962 |
| 20 | Nationwide | $1,018 |
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Utica National may have some of the lowest car insurance rates in Toledo at around $654 a year. Allied, Frankenmuth, Erie, and USAA also qualify as some of the best Toledo, OH auto insurance companies.
As depicted above, if you are currently insured with Allied and switched to Utica National, you could realize savings of roughly $22. Policyholders with Frankenmuth might save as much as $26 a year, and Erie customers might realize rate reductions of up to $27 a year.
To find cheaper insurance rates for your vehicle, click here to get a free quote or visit any of the companies below.
It’s important to note that these rates are averaged across all types of insureds and vehicles and are not factoring in an exact vehicle garaging location for 17 year olds. So the car insurance company that fits your situation best may not even be in the top 33 companies shown above. That illustrates why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
The make and model of vehicle needing coverage is probably the biggest factor when shopping for low-priced insurance for 17 year olds. Vehicles with lower acceleration and performance, advanced safety features, or a low likelihood of having liability claims will cost substantially less to insure than high performance models. The next list estimates coverage prices for a handful of the most budget-friendly automobiles to insure in Ohio.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $5,535 |
| Honda CR-V EX-L 4WD | $5,540 |
| Honda Accord EX-L 4-Dr Sedan | $5,895 |
| Toyota Prius | $5,953 |
| Ford F-150 STX Regular Cab 2WD | $6,082 |
| Dodge Grand Caravan SE | $6,139 |
| Ford Explorer XLT 4WD | $6,147 |
| Chevrolet Impala LS | $6,441 |
| Ford Focus S 4-Dr Sedan | $6,449 |
| Toyota RAV4 Limited 4WD | $6,499 |
| Jeep Grand Cherokee Laredo 2WD | $6,506 |
| Nissan Altima 2.5 4-Dr Sedan | $6,499 |
| Chevrolet Malibu LS | $6,507 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $6,557 |
| Honda Civic LX-S 4-Dr Sedan | $6,798 |
| Get a Custom Quote Go | |
Data based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in vehicle location which can increase or decrease coverage rates considerably.
Looking at the data, makes and models like the Ford Escape, Honda CR-V, and Honda Accord are most likely going to be the more affordable vehicles to insure for teen drivers. The price for car insurance will trend higher just due to the fact that there is more inherent risk for 17 year olds, but overall those particular vehicles will have the best insurance prices that you’ll find.
One of the many factors that are used to help calculate the annual cost of car insurance is where your car is garaged in Toledo. Areas with increased crime or more people tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The following table shows the highest-priced places in Ohio for 17 year olds in which to buy car insurance. Toledo is listed at #2 with a yearly cost of $1,267 for the average policyholder, which is about $106 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Youngstown | $1,273 |
| 2 | Toledo | $1,267 |
| 3 | Cleveland | $1,259 |
| 4 | Columbus | $1,211 |
| 5 | Cincinnati | $1,210 |
| 6 | Cleveland Heights | $1,166 |
| 7 | Euclid | $1,164 |
| 8 | Akron | $1,157 |
| 9 | Hamilton | $1,113 |
| 10 | Dayton | $1,108 |
| 11 | Canton | $1,091 |
| 12 | Lakewood | $1,073 |
| 13 | Newark | $1,063 |
| 14 | Springfield | $1,061 |
| 15 | Beavercreek | $1,058 |
| 16 | Middletown | $1,055 |
| 17 | Fairfield | $1,053 |
| 18 | Cuyahoga Falls | $1,037 |
| 19 | Mansfield | $1,032 |
| 20 | Parma | $1,027 |
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Annual rates are approximated as the garaging address in Toledo can impact rates substantially.
The diagram below illustrates how your deductible choice can increase or decrease yearly insurance costs when searching for cheap insurance for 17 year olds. The premium estimates are based on a single female driver, full coverage, and no additional discounts are factored in.
A 30-year-old driver could lower their policy premium by $206 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $312 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old chart data, can save as much as $456 each year by choosing a larger deductible amount. When using a larger deductible, it will be required to have emergency funds available to allow you to pay the extra out-of-pocket expense that is associated with using high deductibles.
How violations and accidents impact rates
The easiest method to find good auto insurance rates for teen drivers is to pay attention while driving and avoid accidents and keep your driving record clean. The diagram below highlights how speeding tickets and accidents can raise premium costs for different age groups. The premiums assume a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
In the previous example, the average cost of a car insurance policy in Ohio per year with no accidents and a clean driving record is $1,601. Get two speeding tickets and the average cost rises to $2,119, an increase of $518 each year. Now include two accidents along with the two speeding tickets and the 12-month cost of auto insurance for 17 year olds increases to an average of $4,048. That’s an increase of $2,447, or $204 per month, just for not maintaining a clean driving record!
Low rates today, overpriced tomorrow
Toledo, OH auto insurance rates are impacted by many things that will increase or decrease the cost of coverage. Simply improving your credit, buying a different home, or getting a few speeding tickets can produce rate changes resulting in some rates now being cheaper in comparison to the competition.
Not only may your risk profile change, but car insurance companies change the rates they charge in Ohio as often as every quarter in order to protect their financial rating. Unexpectedly high claims may result in high rates, while better underwriting may result in cheaper Toledo car insurance rates.
As an example, the bar chart below shows which companies have the cheapest car insurance in Toledo, OH for a 40-year-old female driver with a clear driving record, no claims, and a good credit rating. If we compare prices based on her current rating profile, Utica National might quote the best car insurance rates in Toledo at $833 annually. This is $207 less than the average premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers are also included in the cheapest Toledo, OH auto insurance companies.
Let’s now give the driver in the first chart an accident claim, a lower credit rating, and a blemish on her driving record. Due to the fact that every auto insurer has a proprietary method to determining premium rates, comparing prices may now present a significantly different list of the cheapest car insurance companies in Toledo as shown below.
Merchants Insurance Group now has the best auto insurance rate in Toledo, OH with Cincinnati Insurance, Motorists Mutual, Grange Mutual, and General Casualty also being competitive. This example shows why it is so important to compare rates when trying to get the most affordable auto insurance rates for 17 year olds. Car insurance prices can be altered by many different factors and can change substantially, so the best company when you bought your policy may now be quite expensive.
If you prefer to have some advice when buying car insurance for teen drivers, the agents below can help you determine which coverages and limits you need.
To locate a Toledo auto insurance agent closest to you, click the button link following the list or click here to get price quotes now.
American Family Insurance – Doug Zajac
2119 W Sylvania Ave – Toledo, OH 43613 – (419) 472-5154
Nationwide Insurance: Smithers Ins Agency LLC
229 Superior St – Rossford, OH 43460 – (419) 666-5703
Henry Geha – State Farm Insurance Agent
4750 Monroe Street – Toledo, OH 43623 – (419) 472-1399
Mann Insurance
3005 Douglas Rd – Toledo, OH 43606 – (419) 255-0040
View more Toledo, OH insurance agents
How to find cheaper car insurance for 17 year olds
The list below shows some of the better money-saving suggestions that can help Ohio drivers buy low-cost coverage.
- The safer your car, the less it costs to insure
- Do not waste money insuring older vehicles for full coverage
- Being accident-free can lower rates significantly
- Higher credit scores may earn you cheaper rates
- Buy your auto and home insurance from the same company and save
- Compare rates regularly to ensure the best deal
The last idea is certainly significant, as we discussed in the prior article. Coverage rates in Toledo vary greatly, so don’t be hesitant to buy from a new company if a better rate can be found.
We understand brand loyalty, but it isn’t a good idea if that stubbornness costs you money that could be going to better use. In less than five minutes you could compare prices to find cheaper car insurance for 17 year olds.