The words “low-cost” and “insurance” really don’t belong together, in particular when trying to find the best price on coverage with multiple speeding tickets. Because of the high cost, let’s familiarize you with some of the factors that have a considerable impact on insurance rates, and find out if you can reduce the price of the next policy you buy.
Finding out which companies quote the best auto insurance rates with multiple speeding tickets may require a little more work than just picking a company at random. Each auto insurer has their own process for determining prices, so to begin we’ll rank the auto insurance companies with the most affordable rates in Ohio.
It’s important that readers know that Toledo auto insurance rates are impacted by many factors which can substantially change the policy price. Simply having another birthday, moving to a new city, or getting caught speeding can cause premium changes resulting in some rates now being more affordable than others.
Best Insurance Companies with License Points
Utica National offers some of the cheapest car insurance rates in Toledo at around $647 each year. Erie, Allied, Frankenmuth, and Travelers also qualify as some of the most economical Toledo, OH car insurance companies.
As shown above, if you are a policyholder with Frankenmuth and switched to Erie, you might see savings of around $20. Policyholders with Travelers could save as much as $38 a year, and USAA policyholders might realize rate reductions of up to $74 a year.
These prices are averaged for all types of drivers and the different vehicles they drive and and are not calculated with an exact location with multiple speeding tickets. So the car insurance company that can offer the best rates for your situation may not even be in the top 33 companies in the list above. That is why you need to get quotes using your own personal information and vehicle type.
The vehicle that needs insurance is one of the largest considerations that determines whether or not you find the lowest-priced auto insurance with multiple speeding tickets. Vehicles with reasonable performance levels, an excellent safety record, or a low likelihood of having liability claims will cost quite a bit less to insure than fast, unsafe models.
The data below estimates insurance costs for a selection of the most economical vehicles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $1,910 |
| Ford Escape Limited 4WD | $2,075 |
| Honda Accord LX 4-Dr Sedan | $2,109 |
| Toyota Prius | $2,120 |
| Ford Edge Limited 2WD | $2,220 |
| Jeep Grand Cherokee Laredo 2WD | $2,262 |
| Volkswagen Jetta S 2.5 Station Wagon | $2,293 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $2,325 |
| Hyundai Elantra Blue 4-Dr Sedan | $2,343 |
| Toyota Corolla LE | $2,385 |
| Nissan Rogue S 2WD | $2,422 |
| Hyundai Sonata GLS 4-Dr Sedan | $2,431 |
| Kia Optima LX | $2,422 |
| Chevrolet Silverado LS Regular Cab 4WD | $2,429 |
| Toyota RAV4 Sport 4WD | $2,495 |
| Ford Explorer Limited AWD | $2,542 |
| Toyota Camry Hybrid | $2,589 |
| Compare Cheap Rates Go | |
Data assumes single female driver age 50, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, and homeowner. Information does not factor in vehicle garaging location which can affect coverage rates considerably.
Based on these rates, you can expect vehicles like the Honda CR-V, Ford Escape, Honda Accord, Toyota Prius, and Ford Edge will be the less-costly vehicles to insure after a few driving violations.
Picking the right company is hard considering how many choices there are in Ohio. The company information shown next can help you decide which providers to look at comparing prices from.
These rankings are only made up of companies with a national presence, so companies that focus mainly on Ohio business are not factored into the list. If you’d like to compare prices from the most competitive companies in Ohio, follow 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 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Full coverage versus liability-only in Toledo
Saving money on auto insurance is the goal of the majority of drivers, and one great way to pay lower rates for insurance with multiple speeding tickets is to not buy comprehensive and collision coverage. The example below compares yearly insurance costs with liability coverage only compared to full coverage. The premiums are based on no claims, a clean driving record, $500 deductibles, single status, and no policy discounts are applied.
If we average the cost for all age groups, comprehensive and collision coverage on your policy costs an additional $1,077 per year more than just buying liability insurance. Many drivers may wonder if full coverage is worth the money. There isn’t a written rule to exclude physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
There are some circumstances where dropping full coverage is not financially feasible. If you still owe money on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
The chart below illustrates how your choice of deductibles can affect insurance costs when researching cheap insurance with multiple speeding tickets. Data assumes a single female driver, full physical damage coverage, and no discounts are taken into consideration.
A 30-year-old driver could reduce rates by $206 a year by changing from a $100 deductible up to a $500 deductible, or save $312 by changing to a $1,000 deductible. Young drivers, like the 20-year-old, could save up to $456 or more by using higher deductibles when buying full coverage. When using a larger deductible, it is essential to have additional funds squirreled away to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Chances are good that you’re overpaying for Toledo car insurance
Toledo auto insurance rates are calculated based on many things that control the price you have to pay. Simply improving your credit, buying a different home, or getting a DUI may prompt premium changes resulting in some rates now being cheaper than before.
Also, insurers amend pricing as needed in order to maintain liquidity for claims. Significantly higher losses can cause rate hikes, while profitable underwriting may produce lower-priced Toledo car insurance rates.
To help illustrate this point, the graph below shows the company with the cheapest car insurance in Toledo, OH for a 40-year-old male driver with a clear driving record, no claims, and good credit. If we look at prices based on his current risk profile, Utica National might quote the most affordable car insurance rates in Toledo at $858 a year. This is $182 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and Travelers also make the list of the top five cheapest Toledo, OH auto insurance companies.
In this example, we will give the driver from the first rate comparison an accident surcharge, less-than-perfect credit, and a few blemishes on his driving record. Because each insurer has a different process to determining premium rates, comparing insurance quotes will most likely result in a significantly different list of companies as shown below.
Cincinnati Insurance now has the cheapest car insurance in Toledo with Merchants Insurance Group, Motorists Mutual, General Casualty, and Grange Mutual completing the list. This demonstrates why it is crucial to perform an extensive rate comparison when trying to find the lowest car insurance rates with multiple speeding tickets.
Prices are made up of many things and can decrease or increase without notice, so the cheapest rate a year ago may now be an over-priced policy.
If you aren’t sure which coverage to buy and prefer to have some advice when shopping around for cheaper insurance with multiple speeding tickets, the agents below are a good start to help you determine which auto insurance policy would work best for you.
To find an auto insurance agency using an interactive map, click the button below the list or click here to compare price quotes now.
- Great Lakes Insurance Partners
5215 Monroe St # 2 – Toledo, OH 43623 – (419) 841-2000 - Mouch Insurance Associates, Inc.
3132 W Sylvania Ave – Toledo, OH 43623 – (419) 725-0056 - State Farm: Rex Sims
111 N Reynolds Rd – Toledo, OH 43615 – (419) 531-4036 - State Farm: Romie Brown
1843 W Alexis Rd #1 – Toledo, OH 43613 – (419) 480-1212