Unthinkable but true, most car insurance policyholders in Ohio have stayed with the same insurance company for four years or more, and just short of a majority have never shopped around. American drivers can save hundreds of dollars each year just by getting comparison quotes, but they just feel it’s too hard to save money by comparing rate quotes.
If your goal is the lowest price, then the best way to find cheaper prices for Mini Cooper insurance in Toledo is to compare prices once a year from providers in Ohio. Prices can be compared by following these steps.
- Step 1: Spend a few minutes and learn about car insurance and the factors you can control to keep rates low. Many factors that result in higher prices like getting speeding tickets and poor credit can be amended by making minor changes to your lifestyle.
- Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from one company like GEICO or Allstate, while independent agents can provide rate quotes for many different companies.
- Step 3: Compare the new rates to the price on your current policy and determine if there is any savings. If you find better rates, verify that coverage does not lapse between policies.
- Step 4: Give notification to your agent or company to cancel your current car insurance policy. Submit the required down payment along with the signed application to your new insurance company. Make sure you place your new proof of insurance certificate with your registration paperwork.
The key thing to remember is to make sure you’re comparing similar limits and deductibles on every quote and and to get prices from as many carriers as you can. Doing this provides the most accurate price comparison and a thorough selection of prices.
If you are insured now, you will definitely be able to save money using the techniques covered below. Buying the cheapest auto insurance in Toledo is much easier if you know where to start. Nevertheless, Ohio vehicle owners need to learn how the larger insurance companies determine prices and use it to find better rates.
Cheapest companies for Mini Cooper insurance
The car insurance companies shown below can provide price comparisons in Toledo, OH. If you want the cheapest car insurance in Toledo, OH, we suggest you visit two to three different companies in order to get a fair rate comparison.
Insurance rate breakdown
The price information below outlines different coverage prices for Mini Cooper models. Being aware of how insurance policy rates are determined can help drivers make smart buying decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cooper 2-Dr Hatchback | $168 | $334 | $250 | $14 | $76 | $842 | $70 |
| Cooper 2-Dr Convertible | $168 | $334 | $194 | $12 | $58 | $766 | $64 |
| Cooper S 2-Dr Hatchback | $168 | $394 | $250 | $14 | $76 | $902 | $75 |
| Cooper S 2-Dr Convertible | $190 | $394 | $194 | $12 | $58 | $848 | $71 |
| Cooper John Cooper Works 2-Dr Hatchback | $190 | $394 | $250 | $14 | $76 | $924 | $77 |
| Cooper John Cooper Works 2-Dr Convertible | $212 | $452 | $194 | $12 | $58 | $928 | $77 |
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Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in zip code location which can impact premium rates significantly.
Deductible analysis
One of the hardest decisions when shopping for auto insurance is how high should the physical damage deductibles be. The comparison tables below may help to conceptualize the differences in price when you choose different physical damage deductibles. The first set of rates uses a $100 deductible for comp and collision and the second price table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cooper 2-Dr Hatchback | $196 | $352 | $192 | $12 | $58 | $835 | $70 |
| Cooper 2-Dr Convertible | $196 | $352 | $150 | $10 | $44 | $777 | $65 |
| Cooper S 2-Dr Hatchback | $196 | $416 | $192 | $12 | $58 | $899 | $75 |
| Cooper S 2-Dr Convertible | $220 | $416 | $150 | $10 | $44 | $865 | $72 |
| Cooper John Cooper Works 2-Dr Hatchback | $220 | $416 | $192 | $12 | $58 | $923 | $77 |
| Cooper John Cooper Works 2-Dr Convertible | $246 | $478 | $150 | $10 | $44 | $953 | $79 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cooper 2-Dr Hatchback | $108 | $186 | $192 | $12 | $58 | $556 | $46 |
| Cooper 2-Dr Convertible | $108 | $186 | $150 | $10 | $44 | $498 | $42 |
| Cooper S 2-Dr Hatchback | $108 | $220 | $192 | $12 | $58 | $590 | $49 |
| Cooper S 2-Dr Convertible | $122 | $220 | $150 | $10 | $44 | $546 | $46 |
| Cooper John Cooper Works 2-Dr Hatchback | $122 | $220 | $192 | $12 | $58 | $604 | $50 |
| Cooper John Cooper Works 2-Dr Convertible | $136 | $252 | $150 | $10 | $44 | $592 | $49 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Rates do not factor in vehicle garaging location which can lower or raise coverage prices significantly.
Based on this data, we can arrive at the conclusion that using a $100 deductible would cost the average driver about $26 more each month or $312 annually than buying the higher $1,000 deductible. Due to the fact that you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you usually have at a minimum 35 months between claim filings, you would probably be better off going with the higher deductible.
How to determine if a higher deductible is a good idea
| Average monthly premium for $100 deductibles: | $73 |
| Average monthly premium for $1,000 deductibles (subtract): | – $47 |
| Monthly savings from raising deductible: | $26 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $26 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 35 months |
Poor driving habits will raise your auto insurance rates
The illustration below illustrates how speeding tickets and at-fault fender-benders can influence Mini Cooper insurance prices for each different age group. The data assumes a married female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied.
Mini Cooper insurance rates by gender in Toledo
The illustration below illustrates the difference between Mini Cooper insurance prices for male and female drivers. The price estimates are based on no claims, a clean driving record, full coverage, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
Full coverage rates vs. liability-only
The illustration below shows the difference between Mini Cooper insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Ohio. The data assumes no claims or violations, $250 deductibles, single marital status, and no policy discounts are applied.
When to stop buying physical damage coverage
There is no definitive guideline for phasing out physical damage insurance, but there is a general school of thought. If the annual cost of coverage is more than around 10% of replacement cost minus your deductible, then it might be time to buy liability only.
For example, let’s say your Mini Cooper replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $7,000 after you pay the deductible. If you are currently paying more than $700 a year for full coverage, then it could be time to drop full coverage.
There are some situations where dropping full coverage is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.
Reduce your car insurance rates with these ten discounts
Buying car insurance is not cheap, but you can get discounts that you may not even be aware of. Some trigger automatically at the time you complete a quote, but a few must be specially asked for before you will receive the discount.
- Military Deployment Discount – Having a family member in the military could be rewarded with lower prices.
- Passenger Safety Discount – Options like air bags can get savings of more than 20%.
- Anti-theft System – Cars and trucks that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
- Club Memberships – Being in a qualifying organization can get you a small discount on car insurance.
- Own a Home and Save – Owning a house in Toledo can save you money because owning a home means you have a higher level of financial diligence.
- Discounts for Multiple Vehicles – Purchasing coverage when you have multiple cars or trucks on one policy can reduce the rates for all insured vehicles.
- Discounts for Safe Drivers – Drivers who don’t get into accidents may save up to 50% more than their less cautious counterparts.
- Drive Less and Save – Low mileage vehicles may allow you to get cheaper rates.
- Policy Bundle Discount – When you have multiple policies with the same insurance company you could save up to 20% off your total Cooper insurance premium.
- Paper-free Discount – Certain larger companies will give a small break for buying your policy on their website.
While discounts sound great, it’s important to understand that most discounts do not apply to the entire cost. Most only apply to the cost of specific coverages such as comprehensive or collision. So even though they make it sound like you can get free auto insurance, nobody gets a free ride.
The diagram below shows the difference between Mini Cooper insurance rates with and without discounts applied. The costs are based on a male driver, no violations or accidents, Ohio state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, marriage, safe-driver, claim-free, and homeowner discounts applied.
A few companies who may offer most of the discounts above include:
If you want affordable Mini Cooper insurance quotes, ask every company how you can save money. All car insurance discounts might not be offered on policies in your area. To view car insurance companies that offer multiple discounts in Toledo, click this link.
Buying from auto insurance agents
Many people prefer to buy from a local agent and that is just fine! A nice benefit of comparing rates online is that you can obtain better rates and still buy from a local agent.
To make it easy to find an agent, after completing this quick form, the coverage information is submitted to agents in your area that provide free Toledo auto insurance quotes for your coverage. It simplifies rate comparisons since you won’t have to find an agent because quoted prices will be sent straight to your inbox. It’s the lowest rates without a big time investment. If you want to get a rate quote from a specific company, don’t hesitate to jump over to their website and submit a quote form there.
Choosing the best provider should include more criteria than just the quoted price. Below are some questions you should ask.
- Is there a 24/7 contact number?
- Do they get extra compensation for selling add-on coverages?
- Do they review policy coverages at every renewal?
- How long has their agency been in business in Toledo?
- Can you get a list of referrals?
- How many years of experience in personal auto insurance do they have?
Exclusive or Independent: There is a difference
If you’re trying to find a good insurance agency, you need to know there are two different types of agencies and how they can write your policy. Auto insurance policy providers are either independent (non-exclusive) or exclusive.
Exclusive Agents
Agents that choose to be exclusive are contracted to one company and some examples include Allstate and State Farm. They generally cannot compare rates from other companies so they have to upsell other benefits. Exclusive agents are highly trained on their company’s products which helps them compete with independent agents.
The following are Toledo exclusive agents who may provide you with rate quotes.
Marty Vugrinac – State Farm Insurance Agent
1022 S Reynolds Rd – Toledo, OH 43615 – (419) 389-0533 – View Map
Allstate Insurance: Jessica J. Hernandez
1855 S Reynolds Rd B – Toledo, OH 43614 – (419) 536-9000 – View Map
State Farm: Rex Sims
111 N Reynolds Rd – Toledo, OH 43615 – (419) 531-4036 – View Map
Independent Agents
Agents of this type do not work for one specific company and that is an advantage because they can write policies through many companies and find you cheaper rates. To move your coverage to a new company, your policy is moved internally and you don’t have to find a new agent.
If you are trying to find cheaper rates, we recommend you get insurance quotes from a few independent agents in order to have the best price comparison.
Below are Toledo independent insurance agencies that are able to give price quotes.
Mann Insurance
3005 Douglas Rd – Toledo, OH 43606 – (419) 255-0040 – View Map
RBI Insurance and Financial Services
3421 N Holland Sylvania Rd – Toledo, OH 43615 – (419) 841-4446 – View Map
Gus Badra Insurance Agency
3454 Oak Alley Court, Suite 106 A, Toledo 43606 – Suite 106 A, OH 43606 – (419) 469-5522 – View Map
Insurance specifics
Learning about specific coverages of your insurance policy aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverages available from insurance companies.
Uninsured or underinsured coverage – This coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. It can pay for injuries to you and your family as well as damage to your Mini Cooper.
Due to the fact that many Ohio drivers only carry the minimum required liability limits (which is 25/50/25), their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.
Comprehensive protection – Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims such as damage from getting keyed, rock chips in glass, a broken windshield and damage from flooding. The highest amount your insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.
Liability auto insurance – This protects you from damage that occurs to people or other property that is your fault. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/25 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $25,000.
Liability can pay for claims like court costs, structural damage, funeral expenses, pain and suffering and bail bonds. How much liability coverage do you need? That is a personal decision, but consider buying higher limits if possible. Ohio requires minimum liability limits of 25/50/25 but it’s recommended drivers buy better liability coverage.
The illustration below shows why the minimum limit may not be high enough to cover claims.
Collision coverage – This covers damage to your Cooper resulting from a collision with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision insurance covers claims such as hitting a parking meter, scraping a guard rail, sustaining damage from a pot hole and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Another option is to raise the deductible on your Cooper to get cheaper collision coverage.
Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses like EMT expenses, doctor visits and hospital visits. They can be used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states but can be used in place of medical payments coverage
Persistence will pay off
In this article, we presented a lot of information how to get a better price on Mini Cooper insurance in Toledo. The key concept to understand is the more times you quote, the more likely it is that you will get a better rate. Drivers may even discover the best price on car insurance is with some of the lesser-known companies. These companies can often insure niche markets at a lower cost than their larger competitors like State Farm or Progressive.
Cheaper Mini Cooper insurance in Toledo is attainable on the web and from local insurance agents, so you should compare both to have the best selection. There are still a few companies who may not have the ability to get quotes online and most of the time these small insurance companies sell through independent agents.
To learn more, link through to the following helpful articles:
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- How Much are Toledo Auto Insurance Quotes for a 20 Year Old Female? (FAQ)
- What Car Insurance is Cheapest for a Honda Accord in Toledo? (FAQ)
- Cellphones, Texting and Driving (iihs.org)
- Senior Drivers (Insurance Information Institute)