Wouldn’t it be nice if we could magically tell you that one special company that has the best rates for high risk drivers? It’s just not that easy, however, as there are a whole slew of unknowns like how far you drive each year, whether you are female or male, and whether you are married or single, that all impact the price you pay. The information below covers the best ways to shop for cheaper coverage and hopefully give you enough understanding to have a solid foundation to find cheaper car insurance in Toledo.
One of the more important components that are looked at to help calculate auto insurance rates is your address. More densely populated places will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.
The illustration below ranks the most costly cities in Ohio for high risk drivers to buy an auto insurance policy in. Toledo comes in at #2 having an annual price of $1,279 for the average insured, which is approximately $107 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Youngstown | $1,285 |
| 2 | Toledo | $1,279 |
| 3 | Cleveland | $1,259 |
| 4 | Columbus | $1,247 |
| 5 | Cleveland Heights | $1,202 |
| 6 | Cincinnati | $1,186 |
| 7 | Euclid | $1,164 |
| 8 | Dayton | $1,154 |
| 9 | Hamilton | $1,146 |
| 10 | Akron | $1,123 |
| 11 | Springfield | $1,094 |
| 12 | Canton | $1,091 |
| 13 | Newark | $1,085 |
| 14 | Lakewood | $1,073 |
| 15 | Middletown | $1,066 |
| 16 | Fairfield | $1,053 |
| 17 | Kettering | $1,051 |
| 18 | Strongsville | $1,031 |
| 19 | Beavercreek | $1,027 |
| 20 | Mentor | $1,008 |
| 21 | Cuyahoga Falls | $1,007 |
| 22 | Lorain | $1,005 |
| 23 | Parma | $997 |
| 24 | Mansfield | $992 |
| 25 | Elyria | $975 |
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Table data uses comparative as zip code location can modify price quotes substantially.
The type of vehicle you are insuring is a large factor when consumers are trying to find cheap auto insurance for high risk drivers. Vehicles with lots of horsepower, poor safety features, or a track record of large liability claims will cost much more to insure than safer models. The next list shows insurance premiums for a number of the most affordable vehicles to insure in Ohio.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $4,547 |
| Ford Escape XLS 2WD | $4,684 |
| Hyundai Elantra SE Touring Station Wagon | $4,842 |
| Toyota Prius | $4,893 |
| Ford Explorer XLT 4WD | $5,290 |
| Jeep Wrangler Sahara 4WD 2-Dr | $5,359 |
| Toyota RAV4 Limited 4WD | $5,381 |
| Chevrolet Equinox LT 2WD | $5,391 |
| Chevrolet Impala LS | $5,488 |
| Toyota Tacoma 2WD | $5,539 |
| Volkswagen Jetta LE 4-Dr Sedan | $5,544 |
| Chevrolet Malibu LS | $5,600 |
| Ford F-150 FX4 Super Cab 4WD | $5,605 |
| Ford Edge Sport 2WD | $5,628 |
| Dodge Grand Caravan SXT | $5,662 |
| Ford Focus SEL 4-Dr Sedan | $5,746 |
| Toyota Corolla S | $5,802 |
| Compare Cheap Rates Go | |
Data rating is based on single male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Rate information does not factor in specific garaging location which can impact rates considerably.
Based on these rates, cars like the Honda CR-V, Ford Escape, Hyundai Elantra, and Toyota Prius will be the cheapest vehicles to insure for high risk drivers. The cost of auto insurance will be more expensive just due to the fact that there is more liability exposure for high risk drivers, but overall those vehicles will tend to have the lowest insurance prices that you’ll find.
Figuring out which company quotes the most affordable insurance rates for high risk drivers involves a bit more effort in order to find coverage that fits your budget.
Each insurance company uses a slightly different approach for determining prices, so let’s take a look at the most competitive insurance companies in Toledo.
Best Insurance Companies for Risky Drivers
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $635 |
| 2 | Erie | $667 |
| 3 | Allied | $676 |
| 4 | Frankenmuth | $680 |
| 5 | USAA | $719 |
| 6 | Travelers | $733 |
| 7 | Merchants Insurance Group | $755 |
| 8 | Cincinnati Insurance | $779 |
| 9 | Motorists Mutual | $792 |
| 10 | Grange Mutual | $812 |
| 11 | General Casualty | $829 |
| 12 | Central Mutual | $840 |
| 13 | State Farm | $858 |
| 14 | Hastings Mutual | $858 |
| 15 | Westfield | $908 |
| 16 | Atlantic States | $913 |
| 17 | Progressive | $953 |
| 18 | Auto-Owners | $958 |
| 19 | Western Reserve | $961 |
| 20 | Farmers | $995 |
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Utica National may have some of the lowest car insurance rates in Toledo at around $635 per year. This is $405 less than the average price paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and USAA are also some of the cheapest Toledo, OH auto insurance companies.
As the example above demonstrates, if you are a policyholder with USAA and switched to Erie, you may realize a yearly savings of upwards of $52. Drivers with Travelers might save as much as $66 a year, and Merchants Insurance Group policyholders might reduce rates by $88 a year.
These policy rates are averaged for all drivers and vehicles and and are not calculated with a vehicle location for high risk drivers. So the car insurance company that has the cheapest rates for you may not even be in the top 33 companies in the list above. That underscores the importance of why you need to compare prices as often as possible using your own driver data and vehicle information.
Ratings for Ohio insurance companies
Picking a highly-rated auto insurance company is difficult considering how many choices you have in Toledo. The ranking data in the lists below may help you decide which auto insurance companies you want to consider when comparing insurance rates for high risk drivers.
These rankings are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies that may only write in Ohio are not factored into the list. To compare price quotes from these and other top-rated companies, click this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Titan Insurance | 89 | 91 | 83 | 86% | A+ | 89.3 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Discounts on Toledo insurance rates
Insurers that offer cheap quotes for high risk drivers could also offer rate discounts that could potentially reduce rates by as much as 35% or more if you qualify for them. Popular insurance companies and a partial list of their discounts include:
- State Farm has discounts for passive restraint, student away at school, driver’s education, Drive Safe & Save, Steer Clear safe driver discount, accident-free, and multiple autos.
- GEICO offers discounts including anti-theft, federal employee, air bags, multi-policy, multi-vehicle, good student, and emergency military deployment.
- Liberty Mutual includes discounts for hybrid vehicle, teen driver discount, new graduate, exclusive group savings, and good student.
- The Hartford offers premium reductions for driver training, air bag, defensive driver, anti-theft, good student, and vehicle fuel type.
- MetLife may offer discounts for defensive driver, good student, multi-policy, good driver, accident-free, claim-free
- Progressive may include discounts for online signing, multi-policy, continuous coverage, good student, and online quote discount.
The chart below compares insurance premiums with and without policy discounts. The rates are based on a female driver, three citations and two at-fault accidents, Ohio state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with paperless filing, passive restraint, vehicle safety, multiple policy, homeowner, and marriage discounts applied. When these discounts are applied to the policy premium, theamount saved on insurance for high risk drivers is 28% or $1,164.
Chances are good that you’re overpaying for Toledo car insurance
Ohio insurance rates are impacted by many things which can substantially decrease or increase the price you pay for coverage. Simply having another birthday, increasing liability limits, or getting a driving violation can trigger price changes that can cause some rates to be cheaper than before. Not only that, but car insurance companies amend pricing as needed in order to be able to pay unexpected claims. An unexpected high level of claims may cause more expensive premiums, while a better loss history may result in lower-cost Toledo car insurance rates.
The data below compares the cheapest car insurance in Toledo, OH for a 35-year-old male driver with no accidents, a clean driving record, and solid credit. If we estimate prices based on his personal risk profile, Utica National might offer the lowest car insurance rates in Toledo at $808 a year. This is $232 less than the average price paid by Ohio drivers of $1,040. Frankenmuth, Erie, Allied, and USAA are the rest of the cheapest Toledo, OH auto insurance companies.
The chart below compares rates after we give the driver from the first rate comparison a claim surcharge, bad credit, and a traffic ticket or two. Since every insurance provider has a unique approach for establishing rates, analyzing rates may now present a significantly different list of the cheapest Toledo car insurance companies as shown below.
Cincinnati Insurance now has the best insurance rate in Toledo with Merchants Insurance Group, Motorists Mutual, Grange Mutual, and General Casualty also having competitive pricing. This example proves why consumers need to take the time to perform a complete rate comparison to get the most economical auto insurance quotes for high risk drivers. Auto insurance prices are calculated by many different factors and can decrease or increase without notice, so the best option six months ago may now be quite expensive.
How to find budget-friendly car insurance for high risk drivers
It is possible to find better rates, and here are some of the recommended thrifty suggestions that can help you get more affordable auto insurance.
- Drivers with good credit often pay less
- Do not get traffic citations
- Prevent rate increases by staying accident-free
- Buy vehicles with good safety ratings
- Increase your physical damage deductibles
- Full coverage is expensive so only insure older vehicles for liability only
- Check for cheaper rates once a year
The last suggestion is remarkably valuable, as we discussed in the prior information. Prices charged by car insurance companies fluctuate constantly, so don’t be afraid to switch companies if you find a better deal. Loyalty to a specific company is fine, but we do not recommend it if your bullheadedness ends up costing you money that could be going to better use. Now is a great time to compare prices and find cheaper car insurance for high risk drivers in Toledo.
If you aren’t clear which coverage you need and would like to get some professional advice when trying to find the best insurance rates for high risk drivers, the agencies below are a good start to aid you in deciding which coverages and limits you need.
To find a Toledo insurance agent near you, click the button at the bottom or click here to compare rates now.
Jan Scotland – State Farm Insurance Agent
4806 Dorr St – Toledo, OH 43615 – (419) 536-4200
Mann Insurance
3005 Douglas Rd – Toledo, OH 43606 – (419) 255-0040
Bob Burns Insurance and Financial
2229 W Laskey Rd – Toledo, OH 43613 – (419) 471-1950