Why is Auto Insurance So Expensive in Ohio?
Last Updated on October 26, 2020
Drivers in Ohio often complain about high insurance premiums. Why is auto insurance so expensive in Ohio? Do drivers in Ohio really pay more for car insurance than drivers in other states?
The average annual premium in Ohio is around $1,030, while the average premium in the United States is approximately $1,400.
On average, drivers in Ohio pay around $370 less per year for car insurance than drivers in other parts of the country.
However, this statistic doesn’t tell the full story. Drivers in rural areas of Ohio, for example, may pay significantly lower rates than drivers in urban areas of Ohio. Some urban areas – including parts of Columbus, Cleveland, Cincinnati, Toledo, and Akron – have higher-than-average insurance rates compared to the rest of the country.
Car Insurance Requirements in Ohio
Drivers in Ohio are required to have the following minimum required levels of insurance coverage:
- $25,000 of bodily injury liability coverage per person
- $50,000 of bodily injury liability coverage per accident
- $25,000 of property damage liability coverage
These requirements may be expressed as a 25/50/25 plan. If you buy car insurance from any insurer in Ohio, then your policy will meet these minimum insurance requirements.
Some Ohio drivers are happy to meet the minimum requirements, while others will exceed these requirements for added protection and peace of mind.
Is Car Insurance More Expensive in Ohio?
Organizations like Insure.com analyze car insurance premiums by state every year. In 2020, Insure.com ranked Ohio the 10th cheapest state in America for car insurance.
According to Insure.com, the average driver in Ohio pays $1,175 per year for car insurance.
Nationwide, the average driver pays $1,457 per year for car insurance.
Based on Insure.com’s analysis, car insurance in Ohio is not expensive: in fact, Ohio has some of the cheapest car insurance in the United States.
Only nine states had cheaper car insurance premiums than Ohio in the 2020 rankings, including North Dakota, Vermont, North Carolina, New Hampshire, Virginia, Iowa, Idaho, Wisconsin, and Maine.
Drivers in the most expensive states in America paid twice as much for car insurance, on average, as drivers in Ohio. Drivers in Michigan pay $2,611 per year for car insurance, for example, while drivers in Louisiana paid $2,298. Florida, New Jersey, California, and Rhode Island were also significantly more expensive states for insuring a vehicle.
Why Am I Paying High Rates for Car Insurance in Ohio?
We’ve determined that drivers in Ohio pay some of the cheapest car insurance premiums in the country. So why are your car insurance premiums so expensive in Ohio?
Even if you live in Ohio, certain factors could cause insurance premiums to rise significantly, including:
Driving History: If you have a DUI, at-fault collision, multiple speeding tickets, or other items on your driving record, then you could pay higher rates for car insurance than drivers with a clean record.
ZIP Code: Your ZIP code impacts insurance premiums. If you live in a crowded, urban ZIP code, then you are more likely to be involved in an accident than someone living in a rural area. If you live in a ZIP code with high rates of vehicle break-ins, crime, or vandalism, then you will pay higher insurance premiums.
City: Drivers in Ohio’s largest cities will pay more for car insurance than drivers in rural areas of the state. That’s why drivers in Columbus, Cleveland, Cincinnati, Dayton, Toledo, and Akron will pay higher insurance premiums than drivers in Findlay, Bowling Green, or Troy. Certain cities in Ohio also have unusually high insurance premiums for their size, including Youngstown, Cleveland Heights, Euclid, Warren, Hamilton, Trotwood, Fairfield, and Athens.
Credit Score: Your credit score impacts insurance premiums. Drivers with bad credit pay less for car insurance than drivers with good credit. If something has recently impacted your credit score, then your insurance premiums may have suddenly risen.
Annual Mileage: How far do you drive your car each year? The average driver in Ohio drives approximately 8,000 to 12,000 miles per year. If you drive significantly more than that amount, then you might pay more for car insurance.
Age and Gender: Insurers in Ohio are allowed to use age and gender to calculate insurance premiums. Young males tend to pay higher rates for car insurance than young females. This trend reverses with age, as older males pay cheaper rates for car insurance than older females.
How Your Ohio City Impacts Insurance Premiums
Statistics show that drivers in Columbus, Cleveland, Cincinnati, Toledo, and Akron pay higher-than-average insurance premiums compared to the rest of Ohio.
Why are drivers in Ohio’s largest cities paying more for car insurance?
This effect isn’t unique to Ohio; this effect can be seen in every state in America. Drivers in urban areas are more likely to be involved in an accident and make a claim than drivers in rural areas. There are more vehicles and people in urban areas, and there are more chances for accidents.
Some ZIP codes also have higher rates of break-ins, vehicle theft, and vandalism, and insurers are required to charge higher premiums in these areas.
What Are the Cheapest Insurance Companies in Ohio?
Certain Ohio insurance companies regularly offer the cheapest quotes than other insurance companies. Based on our research, some of the cheapest insurance companies in Ohio include:
Across the state of Ohio, GEICO, and Westfield were consistently ranked as the cheapest insurance companies for drivers. These companies routinely offered cheaper quotes than the competition on both full coverage and liability insurance plans.
However, insurance premiums vary widely across the state, and GEICO may not offer the cheapest insurance in all corners of the Buckeye State. That’s why it’s important to compare as many insurance plans as possible across Ohio.
Compare Insurance Quotes in Ohio Today
Insurance premiums vary widely between insurers. Some insurers emphasize certain factors – like a clean driving record – more than others.
That’s why it’s crucial to compare as many insurance quotes as possible in Ohio.
Enter your ZIP code into our online form to get started. We’ll give you quotes from top insurers in your area. You can request a complete quote from any insurance company. Or, you can continue searching.
The more car insurance quotes you compare, the better your chances of finding the best possible car insurance policy for your unique needs.
Final Word on Ohio’s Auto Insurance Rates
Drivers in Ohio pay some of the lowest rates in America for car insurance, on average.
Of course, many drivers in Ohio still complain about high insurance premiums. Drivers in Columbus, Cleveland, Cincinnati, Toledo, Akron, and Dayton, for example, may pay higher insurance rates based on their ZIP code.
Compare insurance quotes in Ohio today to ensure you’re getting the best possible deal on car insurance.
