Compare the Cheapest Car Insurance Quotes in Toledo, OH
The average car insurance rate in Toledo is $837 yearly, which is more expensive than the state average. The cheapest widely available insurer for average drivers is GEICO, but MoneyGeek also analyzed the cheapest options across various coverage levels and driver profiles. For drivers looking to balance costs and quality, MoneyGeek also ranked the best car insurance providers in Toledo.
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Toledo car insurance costs an average of $837 per year, slightly more than the state of Ohio. The cheapest widely-available insurer for the average driver in Toledo is GEICO, while Erie has cheapest state-minimum premiums. Drivers with a speeding ticket will also find Erie to be the most affordable insurer. For military members and their families, USAA may be the cheapest option in most cases. Erie is MoneyGeek’s choice for the best auto insurance company overall in the city, balancing affordability with customer service.
The Cheapest and Best Car Insurance in Toledo
MoneyGeek studied car insurance providers in Toledo using data and information from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC).
The Cheapest Car Insurance Companies in Toledo
On average, the two insurers offering the cheapest car insurance in Toledo are:
- GEICO: $580 per year
- Erie: $629 per year
Former and current military personnel and their families will find USAA car insurance an affordable option with an average annual premium of $526 for full coverage.
At $580, GEICO is the cheapest insurance company in Toledo. Their rate is nearly 92%, or $532, lower than MetLife’s, which is the most expensive car insurance in the city with an average annual premium of $1,112.
Full coverage car insurance policies include comprehensive and collision coverage. However, your rate may change based on your profile and the liability limits you choose.
Cheapest Car Insurance in Toledo
MoneyGeek’s analysis used average full coverage rates for a 40-year-old male driver, as defined in our methodology.
Insurance with comprehensive and collision coverage costs more than a policy with only liability coverage. Full coverage car insurance, however, does cover the costs of damage to your car, as follows:
- Comprehensive Insurance: This pays for damage caused by non-collision-related events, such as hail, theft or vandalism.
- Collision Insurance: This covers the cost of repairs to your car caused by a collision with another vehicle or a stationary object.
If you own an older car, getting full coverage auto insurance may be more expensive in terms of annual premiums than the car is worth. To save money, you might opt for liability-only or state minimum insurance.
Compare Car Insurance Rates in Toledo
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Toledo for Minimum Coverage
Car insurance policies with minimum coverage are your cheapest insurance option. On average, the most affordable insurers in Toledo for state minimum policies are:
- Erie: $281 per year
- GEICO: $338 per year
Former and current members of the military and their families will find USAA car insurance an extremely affordable option with an average annual premium of $245.
Erie's coverage is $519 less expensive than Metlife's average annual premium of $800. While minimum coverage policies are the least expensive car insurance, they also exclude comprehensive and collision coverage and have much lower liability limits. This may put you in danger of not having adequate coverage in the event of an accident.
The table below illustrates how rates change when liability limits are increased.
Cheapest Minimum Liability Car Insurance in Toledo
Ohio car insurance laws require drivers to have a policy with minimum coverage of 25/50/25. While this is the cheapest auto insurance available, you may be obligated to pay a substantial amount in the event of an accident.
For example, if you cause an accident, and the other driver's medical bills total $35,000, your insurer will only pay $25,000 of that amount. You will be responsible for the remaining $10,000 in medical expenses.
Ohio Minimum Liability Requirements
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
Cheapest Car Insurance in Toledo if You Have Driving Violations
Getting a speeding ticket, a DUI or being at-fault in an accident can affect your car insurance rates significantly. Based on your specific violation, the following insurance providers are the most affordable in Toledo:
- Cheapest after a ticket: Erie, $655 per year
- Cheapest after an at-fault accident: American Family, $707 per year
- Cheapest after a DUI: American Family, $707 per year
You may be able to reduce your premium by improving your driving history, but that takes time. The best thing to do after receiving a traffic ticket or getting in an accident is to compare insurance quotes to see which insurers offer the most affordable rates for drivers with bad records.
Cheapest Car Insurance in Toledo With a Violation
Average Cost of Car Insurance in Toledo
In Toledo, the average car insurance rate is $837 annually, which is slightly higher than the state of Ohio’s average annual cost but it’s also lower than the national average. Generally speaking, drivers living in Toledo pay around 4.3% more than Ohio’s $803 average annual cost of car insurance. Toledo policyholders also pay about 41.2% less than the nationwide average of $1,424 per year.
Personalized Quotes to Get You the Cheapest Car Insurance in Toledo
Generally speaking, insurance providers in Toledo consider several factors when determining your car insurance quotes: your age, driving record, marital status, coverage level and make and model of your vehicle are just a few of them.
In Toledo, if you're an 18-year-old male driver, Erie may give you an average annual premium of $1,733 for your car insurance policy — nearly three times more expensive than similar coverage from the same company for a 40-year-old male driver.
To check if you qualify for company-specific promotions and discounts that can help save you money, you need to regularly request personalized quotes from several car insurance companies in Toledo.
Compare Car Insurance Rates in Toledo
The Best Car Insurance Companies in Toledo
MoneyGeek evaluated Toledo’s auto insurance companies according to average rates, claims ratings and user satisfaction. Based on our analysis, the best car insurance companies in Toledo include:
- Erie: MoneyGeek score of 93 out of 100
- American Family: MoneyGeek score of 87 out of 100
Although we excluded USAA in our rankings, it earned a MoneyGeek score of 98 out of 100. As such, it’s the best car insurer in Ohio for military personnel, veterans and their families.
Erie is the best car insurance provider in Toledo. Priced at roughly $629 per year, it has a perfect score for satisfaction and excellent scores for claims and affordability. It lets policyholders get better car replacement coverage as an add-on.
Erie policyholders in Toledo have four add-on riders that they can include on their policies. Three of them are rarely offered by insurance companies in the city.
For example, you can get better car replacement insurance. This is a unique endorsement that pays for the cost of replacing your car with a newer model if it gets totaled. Your car’s age will determine the model you’ll receive.
In addition, you can get accident forgiveness. This rare rider ensures that you won’t suffer from premium increases on your first at-fault accident. You receive this for free if you’ve been claims-free for three years.Read MoneyGeek's Erie auto Insurance Review
With an excellent score for affordability and high scores for satisfaction and claims, American Family is the second-best car insurance company in Toledo. It costs roughly $675 annually. Customers can include original equipment manufacturer (OEM) coverage on their policies.
With American Family, you have six endorsement options that you can include on your auto insurance. The company offers OEM coverage, a unique rider that ensures aftermarket parts won’t be used when repairing your vehicle.
You can also add gap insurance to your policy. This is a rare endorsement that you can use to pay your existing loan if your financed car becomes totaled. It covers the cost between the amount you owe and the total cost of a new vehicle, reducing what you have to pay to your creditor.Read MoneyGeek's American Family auto Insurance Review
Average Cost of Car Insurance by Postal Code
Different neighborhoods have different levels of car-related incidents such as theft, accidents and uninsured motorists, so the cost of premiums varies by location. In Toledo, the average car insurance premium is between $824 and $850. Drivers who live in Toledo’s most affordable neighborhood for auto coverage — 43615 — will pay about $26 less in annual premiums than policyholders who live in ZIP code 43612.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Toledo
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Toledo. How Toledo ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
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