The price of car insurance in Toledo can vary for each individual, depending on their circumstances and the insurance providers they consider.
Our data reveals that obtaining minimum coverage in Toledo is approximately 18 percent higher than the national average.
It’s advisable to periodically explore different insurance companies to ensure you secure the most competitive rates.
We’ve assessed various factors, including the costs of both minimum and full coverage, to identify the most affordable car insurance providers.
This article aims to assist you in finding economical options for car insurance in Toledo, whether or not you have a history of accidents.
What is the price of auto insurance in Toledo?
Toledo boasts a relatively affordable cost of living compared to other major U.S. cities.
The average rate for car insurance in Toledo stands at $684 for a six-month policy, translating to approximately $114 per month.
Recent data from 2023 indicates that USAA provides the most budget-friendly car insurance in Toledo, commencing at $498 for a six-month coverage.
Individuals who don’t meet USAA’s eligibility criteria can explore alternatives like State Farm and Erie.
Residents of Toledo shell out more for car insurance compared to the statewide average in Ohio, which sits at $589 for a six-month policy.
Furthermore, Toledo’s average rates surpass the national average of $742. According to our data, 37% of Toledo residents believe they are overpaying for their car insurance.
Whether you wish to compare your rates with Toledo’s norms or gain insights into the influencing factors such as age, credit score, and weather, we have you covered.
Car Insurance in Toledo vs. Ohio Avg. 6 Mo.
Premium Ohio Average $589 Toledo Average $684 Updated: 01/11/24. The most economical car insurance
providers in Toledo 1st place medal 1st place:
USAA USAA stands out as the most cost-effective option in Toledo, charging a mere $83 per month or $498 for a six-month policy.
However, it’s important to note that USAA coverage is exclusively available to military members and their families.
2nd place medal 2nd place:
State Farm Securing the second spot is State Farm, offering auto insurance rates at just $92 per month ($552 for six months).
3rd place medal 3rd place:
Erie Claiming the third spot for affordability in Toledo is Erie, with a policy cost of $560 for a six-month period, still falling below the $100 per month threshold.
Key insights about car insurance in Toledo from The Zebra:
The average cost of a car insurance policy in Toledo is $684 per six-month term, equivalent to $114 per month.
USAA is the most economical choice in Toledo, priced at $498. Toledo ranks as the seventh most expensive city for car insurance in Ohio.
A notable 37% of Zebra customers in Toledo leverage our tools due to a perception of overpayment for their current auto insurance
Toledo Car Insurance Rates by Company
In the context of Toledo for the year 2023, our data reveals that USAA stands out as the most economical choice for full coverage auto insurance, charging $83 per month or $498 for a six-month policy.
Following closely is State Farm, offering rates of $92 per month or $552 for a six-month policy
. It’s worth noting that while USAA consistently provides lower rates, eligibility is limited to military members and their families, making this option inaccessible to everyone.
For additional insights into the best-rated car insurance companies, we can furnish you with more details from The Zebra’s Customer Satisfaction Survey.
Most Affordable Auto Insurance Providers in Toledo, OH
| Company | Average 6-Month Premium |
|---|---|
| USAA | $498 |
| State Farm | $552 |
| Erie | $560 |
| GEICO | $602 |
| Progressive | $647 |
| Ohio Mutual Ins Group | $745 |
| Allstate | $1,064 |
Car Insurance Averages in Toledo Based on Rating Factors
The determination of your car insurance rates in Toledo hinges on various rating factors, and different insurers may assign varying degrees of importance to each factor.
For example, some insurers might prioritize credit scores, while others may give more weight to your previous claims history.
This implies that the car insurance provider that suited you in your 20s may not be the most suitable choice for you in your 40s.
To ensure that you are securing the most favorable rate, it is crucial to regularly obtain insurance quotes in Toledo.
Additionally, it is prudent to reassess your insurance needs and coverage costs when personal circumstances undergo changes, such as marriage, milestone birthdays, or improvements in your credit score
Auto Insurance Premiums Based on Age in Toledo
- In Toledo, your age plays a crucial role in determining car insurance premiums as insurance companies assess risk associated with different age groups.
- Teen drivers, having a higher accident rate, experience the steepest increase in premiums, costing up to $3,450 more annually compared to drivers aged 20-24.
- It’s essential to recognize that the insurance provider suitable for individuals in their 20s may not be the most fitting choice in their 40s.
Cheapest Car Insurance Companies for Teen Drivers in Toledo, OH
| Company | Avg. 6 Mo. Premium |
|---|---|
| USAA | $1,345 |
| Erie | $1,513 |
| GEICO | $1,763 |
| State Farm | $2,144 |
| Ohio Mutual Ins Group | $2,287 |
| Progressive | $2,404 |
| Allstate | $2,620 |
| Updated: 01/11/24. |
Auto Insurance Premiums for Minimum Coverage in Toledo
- The coverage level significantly impacts car insurance premiums in Toledo, with 29% of drivers opting for state minimum coverage.
- While minimum coverage may save money, it leaves individuals at risk of being underinsured in case of an accident.
- Adding collision or comprehensive coverage, known as full coverage, may increase rates but provides enhanced protection and peace of mind.
- Consider additional coverages like roadside assistance or uninsured motorist coverage for comprehensive protection.
Cheapest Car Insurance Companies for Minimum Coverage in Toledo, OH
| Company | Avg. 6 Mo. Premium |
|---|---|
| USAA | $167 |
| GEICO | $195 |
| Erie | $197 |
| State Farm | $210 |
| Progressive | $255 |
| Ohio Mutual Ins Group | $263 |
| Allstate | $348 |
| Updated: 01/11/24. |
Toledo Car Insurance Rates by Credit Score
- Credit score significantly influences car insurance rates in Toledo, with lower scores correlating to higher premiums.
- Toledo drivers with poor credit scores pay an average of $2,434 per year, about 113% more than those with excellent credit scores.
- Improving your credit score from “poor” to “fair” in Toledo can potentially save an average of $804 per year.
Cheapest Car Insurance Companies for Bad Credit in Toledo, OH
| Company | Avg. 6 Mo. Premium |
|---|---|
| GEICO | $717 |
| USAA | $811 |
| Progressive | $1,022 |
| State Farm | $1,036 |
| Ohio Mutual Ins Group | $1,109 |
| Erie | $1,259 |
| Allstate | $1,493 |
| Updated: 01/11/24. |
Zebra Tip: If you’ve improved your credit score, shopping for car insurance can save you money.
Auto Insurance Rates with an At-Fault Accident in Toledo
- At-fault accidents in Toledo result in an average increase of $30 to $55 per month in insurance premiums.
- A clean driving record can be advantageous, with low-risk drivers potentially receiving better rates.
Cheapest Car Insurance Companies after an At-Fault Accident in Toledo, OH
| Company | Avg. 6 Mo. Premium |
|---|---|
| State Farm | $712 |
| Erie | $723 |
| USAA | $725 |
| GEICO | $916 |
| Progressive | $980 |
| Ohio Mutual Ins Group | $1,220 |
| Allstate | $1,736 |
| Updated: 01/11/24. |
Toledo Car Insurance Rates by Violation
- Violations and citations in Toledo lead to varying rate increases, ranging from 3% to 101%, depending on the severity and type of infraction.
Car Insurance Rate Increases after Violations and Citations in Toledo, OH
| Accident/Violation | Avg. 6 Mo. Premium | % Rate Increase | $ Rate Increase |
|---|---|---|---|
| None | $684 | 0% | $0 |
| One Med/PIP claim | $701 | 3% | $17 |
| Not-at-fault accident | $707 | 3% | $24 |
| One comp claim | $724 | 6% | $40 |
| Two Med/PIP claims | $726 | 6% | $42 |
| Two comp claims | $744 | 9% | $60 |
| Driving without lights | $762 | 11% | $78 |
| Failure to show documents | $767 | 12% | $83 |
| Failure to wear a seat belt | $771 | 13% | $88 |
| … (Continued) | … | … | … |
| Refusal to submit to a chemical test | $1,363 | 99% | $679 |
| DUI | $1,376 | 101% | $692 |
| … (Continued) | … | … | … |
| Updated: 01/11/24. |
Why Car Insurance in Toledo is Expensive
- Toledo’s proximity to Lake Erie and the Maumee River leads to hazardous driving conditions in winter, increasing the risk of accidents and subsequently raising insurance rates.
- High crime rates in certain neighborhoods of Toledo can impact insurance premiums.
- Factors like business costs, location, weather, and increased drivers contribute to higher insurance rates.
Bundling Home and Auto Insurance in Toledo
- Bundling home and auto policies in Toledo can result in discounts on premiums and streamline the insurance process with one company handling multiple policies.
- Compare prices for separate policies versus bundled policies to determine the most cost-effective option for your needs.
Cheapest Car Insurance Companies for Bundling Home and Auto Insurance in Toledo, OH
| Company | Avg. 6 Mo. Premium |
|---|---|
| State Farm | $452 |
| USAA | $469 |
| Erie | $513 |
| Progressive | $552 |
| GEICO | $554 |
| Ohio Mutual Ins Group | $640 |
| Allstate | $884 |
| Updated: 01/11/24. |
When shopping for auto insurance in Toledo, prioritize coverage needs alongside affordability.
Compare quotes from different providers, considering specific coverage options and benefits to find a company that aligns with your requirements and budget.
Also read: Cheap Auto Insurance Buffalo NY
Frequently Asked Questions:
What is the cost of car insurance in Toledo?
The average rate for a six-month auto insurance policy in Toledo is $684, equivalent to $114 per month. While this surpasses the Ohio state average, it falls below the national average.
Which company offers the most affordable car insurance in Toledo?
USAA stands out as the provider with the most budget-friendly rates in Toledo, priced at around $498 for a six-month policy.
It’s important to note that USAA coverage is exclusive to certain individuals, making State Farm a suitable alternative for those who do not qualify.
How much do teenagers pay for car insurance in Toledo?
Teenagers in Toledo face costs exceeding $2,000 for a six-month policy, translating to approximately $355 per month.
Given the high expenses associated with car insurance for teen drivers, we recommend parents or guardians consider adding teens to their existing policy to help manage costs effectively.